Annual Comprehensive Financial Report Fiscal Year Ended June 30, 2025 Maricopa County, Arizona www.maricopa.gov Board of Supervisors Mark Stewart District 1 Thomas Galvin District 2 Kate Brophy McGee District 3 Debbie Lesko District 4 Steve Gallardo District 5 Annual Comprehensive Financial Report Maricopa County Phoenix, Arizona For the Fiscal Year July 1, 2024 to June 30, 2025 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, 2025 Introductory Section Page 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 i iii iv 1 5 6 Financial Section Independent Auditors’ Report 9 Management’s Discussion and Analysis 14 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, 2025 Page 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 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 138 159 181 266 268 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 Mark Stewart, District 1 Thomas Galvin, District 2 Kate Brophy McGee, District 3 Debbie Lesko, District 4 Steve Gallardo, District 5  COUNTY MANAGER Jennifer Pokorski  CHIEF FINANCIAL OFFICER Michael McGee iii Organizational Chart iv December 18, 2025 301 W. Jefferson St. Phoenix, Arizona 85003 P: 602-506-3561 F: 602-506-4451 Maricopa.gov To the Honorable Board of Supervisors and Citizens of Maricopa County, Arizona: Arizona Revised Statute (A.R.S.) §41-1279.21 requires the Arizona Auditor General to conduct financial audits of the accounts and records of County governments. Pursuant to the statute, the Arizona Auditor General audited the Annual Comprehensive Financial Report (ACFR) of Maricopa County in accordance with generally accepted auditing standards for the year ended June 30, 2025. 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, 2025, 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, 2025. The auditors concluded that the financial statements were considered fairly presented in conformity with GAAP. The independent auditors’ report is presented as the first component of the financial section of this report. The independent audit of the financial statements of Maricopa County was part of a broader, federally mandated Single Audit designed to meet the special needs of federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the audited government’s internal controls and compliance with legal requirements, with special emphasis on internal controls and legal requirements involving the administration of federal awards. This report will be available in Maricopa County’s separately issued Single Audit Report to be issued at a future date. 1 GAAP requires management’s discussion and analysis (MD&A) immediately following the independent auditors’ report and provides a narrative introduction, overview, and analysis of the basic financial statements. This MD&A complements this letter of transmittal and should be read in conjunction with it. County Profile Maricopa County was established on February 14, 1871, and is located in the south-central portion of the State of Arizona. According to the Arizona Office of Economic Opportunity, at July 1, 2024, 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 and Innovation, 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 2 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 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. Arizona experienced slower growth in 2025 but has still far outpaced national growth. (www.azeconomy.org). Maricopa County’s unemployment rate is 4.1 percent as of August 2025, which remains below the State of Arizona and the United States unemployment rates of 4.8 percent and 4.5 percent, respectively (https://fred.stlouisfed.org). Financial Policies and Long-Term Financial Planning Financial Planning – Maricopa County has a fiscally conservative management philosophy, which has allowed the County to be financially successful. Maricopa County prepares a five-year financial forecast, with the assistance of an economist, which is updated on a quarterly basis for several major funds, including the General Fund and Detention Operations Fund. The five-year forecast provides a conservative estimate of the County’s fiscal condition given realistic economic trends, current Board policies, and existing laws. The forecast does not incorporate anticipated policy changes, spending priorities, or proposed new revenue sources. Capital Improvement Program – Maricopa County’s Capital Improvement Program (CIP) identifies capital projects to be completed over the next five years. Because these projects typically span more than one fiscal year, the plans are updated annually to track existing projects, identify new projects, and update funding estimates and forecasts. It is the County’s philosophy and policy that new capital projects will be undertaken only if future operating revenues are reasonably estimated to be sufficient to support associated future operating costs. Operating costs associated with new facilities are budgeted by the user department in conjunction with the partnering department such as Facilities Management and Enterprise Technology and Innovation. 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 3 approval is obtained. This report will be available in Maricopa County’s separately issued Expenditure Limitation Report to be issued at a future date. Awards and Acknowledgements The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Maricopa County for its annual comprehensive financial report for the fiscal year ended June 30, 2024. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized annual comprehensive 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 ARIZONA AUDITOR GENERAL Lindsey A. Perry, Auditor General Melanie M. Chesney, Deputy Auditor General Independent auditors’ report Members of the Arizona 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, 2025, 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, 2025, 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, 2025: 9 Arizona Auditor General | 2910 N 44th St., Ste. 410, Phoenix, AZ 85018-7271 | (602) 553-0333 | www.azauditor.gov Assets and deferred outflows Liabilities and deferred inflows Revenues Expenses/ expenditures Stadium District 2.19% 0.04% 0.23% 0.49% Risk Management 0.28% 2.31% 1.55% 1.38% Employee Benefits Trust 1.23% 1.34% 6.15% 7.66% Opinion unit/department or component unit Government-wide statements Governmental activities Aggregate discretely presented component units Industrial Development Authority 9.14% 22.45% 4.91% 7.57% Housing Authority 90.86% 77.55% 95.09% 92.43% Fund statements Aggregate remaining fund information Stadium District 0.04% 0.31% 0.04% 0.04% Risk Management 0.33% 18.36% 0.30% 0.23% Employee Benefits Trust 1.46% 10.65% 1.18% 1.28% 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 matter As discussed in Note 1 to the financial statements, for the year ended June 30, 2025, the County adopted new accounting guidance, Governmental Accounting Standards Board Statement No. 101, Compensated Absences. Our opinions are not modified with respect to this matter. 10 Arizona Auditor General | 2910 N 44th St., Ste. 410, Phoenix, AZ 85018-7271 | (602) 553-0333 | www.azauditor.gov Other matters Compliance over the use of Highway User Revenue Fund and other dedicated State transportation revenue monies In connection with our audit, nothing came to our attention that caused us to believe that the County failed to comply with the authorized transportation purposes, insofar as they relate to accounting matters, for Highway User Revenue Fund monies it received pursuant to Arizona Revised Statutes Title 28, Chapter 18, Article 2, and any other dedicated State transportation revenues it received. However, our audit was not directed primarily toward obtaining knowledge of such noncompliance. Accordingly, had we performed additional procedures, other matters may have come to our attention regarding the County’s noncompliance with the authorized transportation purposes referred to above, insofar as they relate to accounting matters. The communication related to compliance over the use of Highway User Revenue Fund and other dedicated State transportation revenue monies in the preceding paragraph is intended solely for the information and use of the members of the Arizona State Legislature, the County’s Board of Supervisors and management, and other responsible parties within the County and is not intended to be and should not be used by anyone other than these specified parties. Management’s responsibilities for the financial statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with U.S. generally accepted accounting principles, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the County’s ability to continue as a going concern for 12 months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. Auditors’ responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with 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: 11 Arizona Auditor General | 2910 N 44th St., Ste. 410, Phoenix, AZ 85018-7271 | (602) 553-0333 | www.azauditor.gov X Exercise professional judgment and maintain professional skepticism throughout the audit. X 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. X 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. X 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. X 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 14 through 24, 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 pages 118 through 119, schedule of the changes in the County’s net OPEB liability (asset) and related ratios—agent plans on pages 120 through 123, schedule of the County’s OPEB contributions on pages 124 through 125, and the modified approach for infrastructure assets information on page 128 be presented to supplement the basic financial statements. Such information is management’s responsibility and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We and the other auditors have applied certain limited procedures to the required supplementary information in accordance with U.S. generally accepted auditing standards, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. 12 Arizona Auditor General | 2910 N 44th St., Ste. 410, Phoenix, AZ 85018-7271 | (602) 553-0333 | www.azauditor.gov 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 18, 2025 13 Arizona Auditor General | 2910 N 44th St., Ste. 410, Phoenix, AZ 85018-7271 | (602) 553-0333 | www.azauditor.gov 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 $6,095.8 million (net position), an increase of 8.1 percent from the prior year amount. Of this amount, $4,417.4 million is invested in capital assets, $952.8 million is subject to external restrictions, and $725.6 million is unrestricted. The County’s total net position as reported in the Statement of Activities increased by $454.5 million from the prior year 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 $1,206.9 (35.7%) Other - $181.2 (5.3%) Capital Grants & Contributions $44.1 (1.3%) Operating Grants & Contributions $532.5 (15.8%) Taxes - $1,094.0 (32.4%) Charges for Services - $319.8 (9.5%)  The County’s governmental funds reported combined fund balances of $2,774.8 million, an increase in fund balance of $394.9 million from the prior fiscal year’s balance. Approximately 99.5 percent of the combined fund balances, or $2,760.8 million, is spendable and available to meet the County’s current and future needs.  Spendable fund balance for the General Fund decreased by 1.2 percent to $402.4 million; approximately 25.3 percent of total General Fund expenditures. See page 19 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. 14 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 129. 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. 15 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 129 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 285 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 45-100 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. 16 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, 2025, as compared to the prior year. Statement of Net Position As of June 30 (in millions) Governmental Activities 2025 2024 Current and other assets Capital assets Total assets $ 3,614.2 4,670.3 8,284.5 $ % Chg P/Y 3,534.0 4,532.8 8,066.8 2.3% 3.0 2.7 Deferred outflows 415.0 541.7 (23.4) Current liabilities Long-term liabilities Total liabilities 466.9 2,013.7 2,480.6 821.9 2,031.7 2,853.6 (43.2) (0.9) (13.1) 123.1 113.6 8.4 4,417.4 952.8 725.6 6,095.8 4,291.0 829.5 520.8 5,641.3 2.9 14.9 39.3 8.1 Deferred inflows Net position Net investment in capital assets Restricted Unrestricted Total net position $ $ By far, the largest portion - $4.4 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 $126.4 million due to an increase in net capital assets of $137.5 and an increase in capital asset related debt of $11.1 million. The increase in capital assets is attributed to an increase in depreciable and non-depreciable capital assets (net of accumulated depreciation/amortization) of $111.5 and $26.0 million, respectively. See page 21-22 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, $952.8 million, represents resources that are subject to external restrictions on how they may be used. This component increased by $123.3 million from the prior year. The increase in net position is primarily attributed to public safety and highways and streets which increased 17.5 percent and 37.3 percent, respectively during fiscal year 2025. This can be attributed to revenues exceeding expenses in the fiscal year. 17 Management’s Discussion and Analysis (continued) The final component consists of an unrestricted surplus of $725.6 million, which increased from fiscal year 2024 by $204.8 million. The increase in unrestricted is primarily the result of an increase in the General Fund County Improvement’s committed fund balance of $210.2 million and offset by the net effect of pension and OPEB activity. The increase in the General Fund County Improvement’s committed fund balance is primarily attributed to positive net transfers of $220.0 million offset by capital outlay expenditures of $9.8 million. Changes in Net Position As discussed previously, the County’s total net position of $6.1 billion increased by $454.5 million as reported in the Statement of Activities. The following table reflects the condensed Statement of Activities of the County for the fiscal year 2025 compared to the prior year and indicates the changes in net position for governmental activities: Statement of Activities For the year ended June 30 (in millions) Governmental Activities 2024 2025 Revenues: Program revenues: Charges for services Operating grants and contributions Capital grants and contributions $ 319.8 532.5 44.1 $ 421.5 583.2 80.1 (24.1)% (8.7) (44.9) General revenues: Taxes Unrestricted intergovernmental Other Total Revenues 1,094.0 1,206.9 181.2 3,378.5 1,077.7 1,170.8 211.5 3,544.8 1.5 3.1 (14.3) (4.7) Expenses: General government Public safety Highways and streets Health, welfare, and sanitation Other* Total Expenses 323.4 1,506.1 127.3 865.6 101.6 2,924.0 360.1 1,423.3 130.2 858.0 86.2 2,857.8 (10.2) 5.8 (2.2) 0.9 17.9 2.3 454.5 5,641.3 $ 6,095.8 687.0 4,954.3 $ 5,641.3 (33.8) 13.9 Change in net position Net position – beginning Net position – ending * % Chg P/Y 8.1 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 expense in the current period by $152.0 million. In the government-wide Statement of Activities, the significant revenues reported included unrestricted intergovernmental, taxes, and operating grants and contributions, which represent 35.7, 32.4, and 15.8 percent, respectively, of total revenues for fiscal year 2025. 18 Management’s Discussion and Analysis (continued) Tax revenues in total increased $16.3 million primarily as a result of an increase in property taxes and jail excise tax of $10.0 and 5.5 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 $36.1 million from the prior fiscal year. This increase is primarily attributable to increases in the state shared sales tax and vehicle license taxes of $26.0 and $10.0 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 decreased by $36.0 million from the prior year as capital contributions attributed to highways and streets and public safety decreased by $30.3 and 5.7 million, respectively. Operating grants and contributions decreased by $50.7 million from the prior fiscal year as the result of the decrease of health, welfare and sanitation, public safety, and general government revenues of $29.9, $19.3, and $13.1 million, respectively, offset by the increase in revenues in other governmental activities of $11.6 million. Other revenues decreased by $30.3 million as a result of a decrease in miscellaneous revenues of $38.7 million offset by an increase in unrestricted investment earnings of $8.4 million. Tax and other operating revenues provide the principal support for the functions of the County, which include general government; public safety; highways and streets; health, welfare, and sanitation; culture and recreation; and education. Total expenses increased by $66.2 million or 2.3 percent from the prior fiscal year, which is attributed to increases in public safety, education, and health, welfare, and sanitation expenses of $82.8, $11.4, and $7.6 million, respectively, offset by decreases in general government and highways and streets of $36.7 and $2.9 million, respectively. The largest increases in expenses were due to depreciation/amortization of capital assets which increased by $122.4 million from the prior year. Additionally, General Fund and Detention Operations Fund expenditures increased by $29.2 and $23.2 million, respectively. 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, 2025, the governmental funds reported combined fund balances of $2,774.8 million, which was an increase in fund balance of $394.9 million from the prior fiscal year. Approximately 99.5 percent of the combined fund balances, or $2,760.8 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 $402.4 million, while total fund balance was $409.4 million. This represents a decrease in the spendable fund balance from the prior year of $4.9 million, or 1.2 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 25.3 percent of the total fiscal year 2025 General Fund expenditures, while total fund balance represents 25.8 percent of that same amount. These ratios indicate a strong fund balance position in comparison to expenditures. In 19 Management’s Discussion and Analysis (continued) addition, Maricopa County operates on a structurally balanced budget as fiscal year 2026 operating expenditures are expected to be fully funded by fiscal year 2026 revenues. During fiscal year 2025, the General Fund reported a decrease in fund balance of $3.6 million, an increase of $29.8 million from the prior fiscal year negative change in fund balance of $33.4 million. Revenues increased by $41.6 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, property tax, and state shared VLT of $29.8, $26.0, $13.1, and $10.1 million, respectively, with decreases in miscellaneous of $40.2 million. Transfers out decreased by $44.7 million, and total expenditures increased by $29.2 million. The decrease in transfers out is primarily a result of decreases in transfers to the General Fund County Improvements Fund of $54.1 million offset by increase in transfers out to the Detention Operations Fund of $12.0 million. The increase in expenditures is primarily attributable to increases in personnel services, other services, debt service, and legal of $36.5, $20.2, $6.1, and $3.7 million, respectively. Additionally, capital outlay expenditures decreased by $42.6 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 $20.8 million. In addition, the unearned revenue amount of $142.0 million represents the remaining ARPA funding not yet spent. Detention Operations Fund The Detention Operations Fund is a special revenue fund that was established under the authority of propositions 400 and 401, which were passed in the General Election of November 3, 1998. These propositions authorized a temporary 1/5 of one-cent sales tax to be used for the construction and operation of adult and juvenile detention facilities. On November 5, 2002, the voters approved the extension of the 1/5 of one-cent sales tax in the General Election to be used for jail facility operations. The extension begins in the month following the expiration of the original tax and may continue for not more than twenty years after the date the tax collection begins. The Detention Operations Fund accounts for the receipt of tax revenue, jail operations expenditures, and transfers to the Detention Capital Projects Fund and Detention Technology Capital Improvement Fund for construction of the adult and juvenile detention facilities and detention technology infrastructure. The Detention Operations Fund accounts for the jail tax revenue along with transfers from the General Fund for maintenance of effort (MOE). The MOE transfer from the General Fund is used to support the jail detention operations. Arizona Revised Statutes require the County to calculate the maintenance of effort transfer on an annual basis. The Detention Operations Fund transfers monies to the Detention Capital Projects Fund for the construction of the jail and detention facilities. At the end of the current fiscal year, total fund balance of the Detention Operations Fund was $96.9 million, of which 96.8 percent is restricted and considered spendable. This was a decrease in total fund balance of $4.2 million, or 4.1 percent from the prior fiscal year. This is primarily attributable to positive net transfers of $169.6 million, offset by expenditures greater than revenues of $183.0 million. Operating transfers consisted primarily of the transfer in for MOE from the General Fund of $226.6 million and transfers out to the Detention Capital Projects Fund and Detention Technology Capital Improvements fund of $56.1 and $2.5 million, respectively. The amounts transferred out of the Detention Operations Fund for any given year are determined through the budget planning process. Subscription-based information technology arrangements also increased by $7.3 million from the prior 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 20 Management’s Discussion and Analysis (continued) was $100.6 million, a decrease of $67.4 million from prior year. The decrease was primarily the result of expenditures exceeding revenues and other financing sources. Opioid Abatement Fund The Opioid Abatement fund is a special revenue fund that accounts for 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. At the end of the current fiscal year, fund balance of the Opioid Abatement Fund was $35.0 million, an increase of $7.7 million from the prior year. The increase was the result of settlement revenues exceeding expenditures for the fiscal year. 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 $1,336.0 million, all of which is committed and considered spendable. The fund balance in this fund increased $210.2 million from the prior fiscal year primarily as a result of the net transfers of $220.0 million, offset by capital outlay expenditures of $9.8 million. Fiscal year 2025 transfers primarily consisted of transfers in from the General Fund of $320.0 million which were offset by transfers out to the County Improvement Debt (debt service fund), General Fund, County Improvement Fund, and Pledged Revenue (debt service fund) of $50.0, $31.2, $18.2, and $3.6 million, respectively. General Fund Budgetary Highlights The difference between the original budget and the final amended budget for the General Fund resulted in no significant change in revenues and expenditures. A significant favorable expenditure variance, as compared to the budget, was incurred in the Non-Departmental department (general government function) of $142.0 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, 2025, was $4.7 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 10 – 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, 2025, Flood Control District infrastructurerelated assets consisted of infrastructure (net of accumulated depreciation), construction in progress, and land of $502.8, $291.5, and $233.7 million, respectively. The Transportation Department infrastructure assets consist of a roadway system and a bridge system. Both systems are reported under the modified approach, which means the County will maintain the assets using an asset management system and will document that the infrastructure assets are being preserved at the established condition level. During fiscal year 2025, the condition level of the roadway system 21 Management’s Discussion and Analysis (continued) increased by 1.0% and the bridge system decreased by 0.01%. Actual maintenance/preservation costs varied by $7.6 million and $1.0 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, 2025, Transportation Department infrastructure-related assets consisted of infrastructure, land, and construction in progress of $836.5, $487.4, and $315.5 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 2025 2024 $ 879.7 $ 872.8 836.4 817.8 737.0 738.7 2.7 0.5 % Chg P/Y 0.8% 2.3 (0.2) 440.0 1,619.9 1,516.8 6.8 111.4 110.2 1.1 318.4 294.2 8.2 164.8 $ 4,670.3 181.9 $ 4,532.9 (9.4) 3.0 Capital assets, net of accumulated depreciation, increased by $137.4 million, or 3.0 percent, from the prior year. The most significant impacts on this increase in the fiscal year ended June 30, 2025, were increases in buildings and improvements (net of accumulated depreciation) and infrastructure (net of accumulated depreciation) of $103.1 and $24.2 million respectively. Long-Term Liabilities Maricopa County has the following bond ratings: Debt Instrument & Rating Agency Rating Date Awarded General Obligation Bonds (implied or issuer credit rating) Standard & Poor’s AAA September 2025 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, 2025, the County had total long-term liabilities (noncurrent liabilities due within one year and more than one year) outstanding of $2,013.8 million, which represents a $110.9 million decrease from the prior year balance of $2,124.6 million. The majority of the decrease is attributable to governmental activities and is comprised of the increases in pledged revenue obligations of $180.0 million which were offset by the decreases in net pension and other post-employment benefits liability, certificates of participation, subscription-based information technology arrangements payable, and reported and incurred but not reported claims payable of $213.1, $61.9, $7.7 and $7.6 million, respectively. The largest components of long-term liabilities at June 30, 2025, consisted of net pension and other postemployment benefits liability of $1,355.7 million, pledged revenue obligations of $180.0 million, certificates of participation of $145.5 22 Management’s Discussion and Analysis (continued) million, subscription based information technology arrangements of $92.1 million, and compensated absences payable of $92.0 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, 2025, the fund balance in the County Improvement Debt Fund to pay future liabilities was $6.3 million. Reported and incurred but not reported claims applicable to governmental activities of $75.8 million are reported in the Risk Management and Employee Benefits Trust funds (internal service funds). This is a decrease of $7.6 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 12 – Long-Term Liabilities and Note 15 – Risk Management). Net pension and other postemployment benefits (OPEB) liabilities applicable to governmental activities of $1.4 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  Arizona’s growth slowed in 2024 and is on course for similar performance in 2025. The outlook for the nation and Arizona remains clouded by economic policy uncertainty. (www.azeconomy.org).  The unemployment rate in Maricopa County is 4.1 percent as of August 2025, which remains below the State of Arizona and United States unemployment rate of 4.8 and 4.5 percent, respectively. (https://fred.stlouisfed.org).  The Arizona Office of Economic Opportunity reports that Maricopa County’s population increased by 1.3 percent from fiscal year 2023 to 2024. Maricopa County’s population increased 15.9 percent from 2015 to 2024, which is higher than the United States’ overall population increase of 6.0 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 2026 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 2026, the adopted tax rate remained at $1.1591.  The fiscal year 2026 tax levy increased by $27.8 million from fiscal year 2025, as a result of a 2.4 billion increase in net assessed values. Yearly assessed property valuation growth rates are anticipated to increase by approximately 3.5 percent from fiscal year 2027 through 2030.  Fiscal year 2026 annual collections of State Shared Sales Tax, Vehicle License Tax, Highway User Revenues and County Jail Excise Tax revenues are expected to increase by 2.9, 3.1, 2.3 and 2.8 percent, respectively, from the prior year. 23 Management’s Discussion and Analysis (continued) In accordance with A.R.S., the General Fund spendable fund balance amount (see page 19 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. 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 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, 2025 COMPONENT UNITS Housing Industrial Development Authority Authority 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 $ 52,791,421 2,947,768,604 $ 218,349,106 298,739,325 16,498,745 19,445,598 2,050,938 14,343,728 $ 12,051,726 2,025,151 2,718,281 1,242,155 37,041 438,023 1,569,537 8,531,332 38,185 2,665 1,714,588 111,599 58,550,199 879,669,433 2,514,155,509 449,066,707 DEFERRED OUTFLOWS OF RESOURCES Deferred outflows related to pensions and OPEB Total deferred outflows of resources 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 NET POSITION Net investment in capital assets Restricted for: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt Service Other Post Employment Benefits Unrestricted $ Total net position The notes to the financial statements are an integral part of this statement. 29 7,123,846 183,083,428 7,060,268 754,112 836,457,162 502,798,842 737,020,810 2,654,394 279,019,517 (1,530,589,028) 8,284,558,881 (64,229,240) 175,773,501 414,984,481 414,984,481 796,786 796,786 143,454,484 78,276,577 5,208,556 72,132 14,422,801 6,276,304 201,859,762 15,179,693 7,359,421 742,816 183,771 319,359 481,937 385,637,444 1,628,149,358 2,480,615,844 12,306,795 56,228,374 75,543,740 112,266,712 10,794,995 123,061,707 396,172 396,172 4,417,403,904 87,423,917 7,942,841 450,734,033 150,894,095 239,873,272 39,499,373 5,251,702 110,664 58,550,199 725,605,728 6,095,865,811 15,036,275 17,767,600 2,298,505 2,298,505 1,714,588 7,480,944 $ 5,725,514 100,630,375 $ 13,754,507 15,469,095 Maricopa County Statement of Activities For the Fiscal Year Ended June 30, 2025 Program Revenues Charges for Services Expenses Operating Capital Grants and Contributions Grants and Contributions Functions/Programs Primary government: Governmental activities: General government $ Public safety 323,427,903 $ 36,140,118 $ 32,072,977 $ 1,506,062,754 162,553,995 51,136,363 6,667,281 Highways and streets 127,349,089 31,821,210 140,101,856 37,423,356 Health, welfare and sanitation 865,628,484 69,106,818 280,690,400 Culture and recreation 65,863,769 19,301,975 11,805,329 20,726,860 14,980,580 2,924,039,439 946,355 16,777,203 319,870,471 532,584,128 Education Interest on long-term debt Total governmental activities Component units: Housing Authority $ 50,934,407 $ 10,552,365 Industrial Development Authority $ 4,174,375 $ 2,126,902 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, 2024 Net position, June 30, 2025 The notes to the financial statements are an integral part of this statement. 30 $ 30,878,152 44,090,637 Maricopa County Statement of Activities (Continued) For the Fiscal Year Ended June 30, 2025 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: $ (255,214,808) General government (1,285,705,115) Public safety 81,997,333 Highways and streets (515,831,266) Health, welfare and sanitation (34,756,465) Culture and recreation (3,003,302) (14,980,580) Interest on long-term debt Education (2,027,494,203) Total governmental activities Component units: $ (9,503,890) Housing Authority $ (2,047,473) Industrial Development Authority General revenues: Taxes: 690,494,521 Property taxes, levied for general purposes 78,007,757 Property taxes, levied for Flood Control District 27,240,879 Property taxes, levied for Library District 6,291,283 Property taxes, levied for Street Lighting District 284,580,135 Sales tax – Jail construction and operation 7,413,735 Surcharge tax – Stadium District 978,470,776 Unrestricted share of state sales tax 224,075,538 Unrestricted share of state vehicle license tax 4,336,463 $ Grants and contributions not restricted to specific programs 146,818,040 385,202 34,366,082 5,500 20,978,542 94,401 2,482,095,209 21,369,244 1,112,422 454,601,006 5,641,264,805 11,865,354 88,765,021 (935,051) 16,404,146 Net position, July 1, 2024 100,630,375 $ 15,469,095 Net position, June 30, 2025 6,095,865,811 $ 1,018,021 Unrestricted investment earnings Gain on sale of assets 31 Miscellaneous Total general revenues Change in net position Maricopa County Balance Sheet Governmental Funds June 30, 2025 General ASSETS Cash in bank and on hand Cash and investments held by County Treasurer Receivables (net of allowances for uncollectibles) Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets LIABILITIES Accounts payable Employee compensation payable Accrued liabilities Due to other funds Unearned revenue Deposits held for other parties Contract retention payable Total liabilities $ Coronavirus Fiscal Recovery Detention Operations $ Opioid Abatement 49,145,887 221,937,836 28,427,357 15,540,772 182,659,832 7,002,446 3,706,398 $ $ 508,420,528 $ 179,675,106 $ 128,898,977 $ 190,483,002 $ 36,326,230 52,477,157 1,525,000 $ 15,513,080 256,056 8,807 $ 11,366,657 19,356,765 1,279,357 $ 575,952 12,638 178,509,146 1,165,960 $ 74,116,468 1,347,230 35,347,296 155,135,706 49,721,072 3,100,964 613,243 142,034,987 21,818 153,306 90,503,511 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 1,053,524 158,866,454 32,002,779 588,590 8,508,340 165 154,908,701 8,508,340 FUND BALANCES Nonspendable Restricted Committed Assigned Unassigned Total fund balances 165 154,908,701 20,808,652 3,100,964 93,795,069 34,985,711 20,808,652 96,896,033 34,985,711 7,002,446 358,489,153 43,917,078 409,408,677 Total liabilities, deferred inflows of resources, and fund balances $ 508,420,528 The notes to the financial statements are an integral part of this statement. 32 $ 179,675,106 $ 128,898,977 $ 190,483,002 Maricopa County Balance Sheet Governmental Funds (Continued) June 30, 2025 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 Accrued liabilities Due to other funds Unearned revenue Deposits held for other parties Contract retention payable Total liabilities $ $ 124,055,566 679,033 Other Governmental Funds $ 1,337,424,732 $ 124,734,599 $ 1,337,424,732 $ $ 12,308,567 $ 1,301,193 $ 10,112,473 1,722,969 24,144,009 111,554 1,412,747 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 279,179 859,625,925 21,841,701 66,350,866 3,823,816 1,436,170 111,599 953,469,256 59,733,044 4,893,115 2,264 4,872,907 59,824,775 15,157,875 4,318,068 148,802,048 Total Governmental Funds $ $ $ 1,123,912 16,696,609 89,060,975 22,390,738 1,336,011,985 3,823,816 638,744,626 150,916,373 (10,861,123) 100,590,590 1,336,011,985 (17,433,123) 776,051,692 137,124,723 76,995,731 2,815,428 14,985,380 201,859,762 15,179,693 7,359,421 456,320,138 9,632,252 16,696,774 154,908,701 1,797,914 8,997,081 192,032,722 1,797,914 8,997,081 28,615,516 FUND BALANCES Nonspendable Restricted Committed Assigned Unassigned Total fund balances 49,425,066 2,831,016,969 208,596,987 15,540,772 298,731,770 13,927,226 5,755,811 111,599 3,423,106,200 13,927,226 877,395,033 1,509,319,096 358,489,153 15,622,832 2,774,753,340 Total liabilities, deferred inflows of resources, and fund balances $ 124,734,599 The notes to the financial statements are an integral part of this statement. 33 $ 1,337,424,732 $ 953,469,256 $ 3,423,106,200 Maricopa County Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position June 30, 2025 Fund balance – total governmental funds (page 33) $ 2,774,753,340 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. 4,644,072,724 Some receivables are not available to pay for current period expenditures and therefore, are reported as unavailable revenue in funds. 181,237,727 OPEB assets are not available for County operations and therefore, are not reported in the funds. 57,974,895 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. 60,579,574 Some long-term liabilities and compensated absences are not due and payable shortly after June 30, 2025, and therefore, are not reported in the funds. (1,923,558,063) 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. Net position of governmental activities (page 29) 300,805,614 $ 34 6,095,865,811 35 Maricopa County Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds Year Ended June 30, 2025 General Coronavirus Fiscal Recovery Detention Operations Opioid Abatement REVENUES $ Taxes 681,845,799 $ $ 284,580,135 $ 1,834,787 Licenses and permits Intergovernmental 1,217,992,304 Charges for services 67,394,468 165,019,967 26,329,887 2,400 11,407,687 8,627 13,367,880 Settlement revenue Fines and forfeits Special assessments Interest income 94,383,387 Miscellaneous 23,949,815 18,278,474 9,020,386 2,098,808,247 183,298,441 General government 227,714,834 28,150,410 Public safety 842,542,530 7,807,927 400,455,378 428,601,940 97,203,163 82,223,779 Culture and recreation 1,343,915 95,722 Education 2,683,783 Total revenues 1,563,538 587,868 320,529,303 14,931,418 EXPENDITURES Current: 35,139 Highways and streets Health, welfare and sanitation 7,189,205 326,674 Debt service: Principal 31,881,038 361,531 815,256 Interest 4,021,076 22,107 34,100 Other Capital outlay Total expenditures 48,973,276 44,054,846 20,350,739 1,587,797,531 177,695,706 504,205,926 7,189,205 511,010,716 5,602,735 (183,676,623) 7,742,213 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in 49,195,009 Transfers out (602,441,122) 229,701,431 (3,000,000) (60,116,775) 11,363,889 Financed purchase agreements 3,800,548 Pledged revenue obligations issuance 15,804,480 Lease agreements Subscription-based IT arrangements (SBITA) 10,173,619 Total other financing sources (uses) (515,904,125) 7,322,007 (3,000,000) 180,707,211 Net change in fund balances (4,893,409) 2,602,735 (2,969,412) 7,742,213 Fund balances, July 1, 2024 413,039,268 1,262,818 18,205,917 101,072,844 (1,207,399) 27,243,498 Increase (decrease) in inventories Fund balances, June 30, 2025 $ 409,408,677 The notes to the financial statements are an integral part of this statement. 36 $ 20,808,652 $ 96,896,033 $ 34,985,711 Maricopa County Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds (Continued) Year Ended June 30, 2025 County Improvement General Fund Other Total County Improvements Governmental Funds Governmental Funds REVENUES $ Taxes $ $ 112,495,796 $ 1,078,921,730 57,966,298 59,801,085 410,110,901 1,793,564,635 Charges for services 118,095,683 211,820,038 Settlement revenue 1,714,663 15,082,543 Fines and forfeits 7,201,497 18,617,811 Special assessments 6,290,643 6,290,643 7,717,137 23,576,313 154,539,235 11,459,228 35,996,911 8,156,200 748,911,022 3,374,634,631 Licenses and permits 439,063 Intergovernmental Interest income Miscellaneous Total revenues EXPENDITURES Current: General government Public safety 5,096,956 260,962,200 234,056,107 1,484,861,942 Highways and streets 88,594,210 88,629,349 Health, welfare and sanitation 229,409,520 844,627,607 Culture and recreation 53,283,711 54,723,348 Education 18,606,026 21,616,483 Principal 66,520,734 99,578,559 Interest 10,476,880 14,554,163 Other 438,550 438,550 Debt service: Capital outlay Total expenditures 93,789,875 9,771,733 126,311,814 343,252,283 93,789,875 9,771,733 832,794,508 3,213,244,484 (85,633,675) (9,771,733) (83,883,486) 161,390,147 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) 18,225,348 Transfers in Transfers out 323,034,806 275,644,261 895,800,855 (103,075,693) (127,167,265) (895,800,855) 77,201 15,241,638 180,000,000 180,000,000 4,319,070 21,814,696 219,959,113 332,873,267 232,860,814 Financed purchase agreements Pledged revenue obligations issuance 15,804,480 Lease agreements Subscription-based IT arrangements (SBITA) 18,225,348 Total other financing sources (uses) Net change in fund balances (67,408,327) 210,187,380 248,989,781 394,250,961 Fund balances, July 1, 2024 167,998,917 1,125,824,605 526,502,473 2,379,887,522 559,438 Increase (decrease) in inventories $ 100,590,590 $ Fund balances, June 30, 2025 The notes to the financial statements are an integral part of this statement. 37 1,336,011,985 $ 776,051,692 614,857 $ 2,774,753,340 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, 2025 Net change in fund balances – total governmental funds (page 37) $ 394,250,961 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. 152,045,568 The net effect of various miscellaneous transactions involving capital assets is a decrease to net position. (11,822,351) Revenues reported in the governmental funds exceeding amounts reported as earned on the Statement of Activities. (22,113,276) 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. (137,437,604) 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. 2,060,901 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 expense of external activities of these funds is reported with governmental activities. (1,416,131) 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. 79,032,938 Change in net position of governmental activities (page 31) The notes to the financial statements are an integral part of this statement. 38 $ 454,601,006 Maricopa County Statement of Net Position Proprietary Funds June 30, 2025 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 $ 3,366,355 116,751,635 9,032,922 726,752 2,571,519 15,740,725 148,189,908 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 92 132,452,998 4,986,847 (127,539,889) 575,304 26,755,926 Total assets 174,945,834 DEFERRED OUTFLOWS OF RESOURCES 3,224,470 Deferred outflows related to pensions and OPEB Total deferred outflows of resources LIABILITIES Current liabilities: Accounts payable Employee compensation payable Compensated absences (current portion) Accrued liabilities Due to other funds Leases payable (current portion) Liability for reported but unpaid and incurred but not reported claims (current portion) Total current liabilities 3,224,470 6,329,761 1,280,846 802,412 11,607,373 555,392 263,755 34,943,858 55,783,397 Noncurrent liabilities: Liability for reported but unpaid and incurred but not reported claims 40,902,227 1,877,528 Leases payable 656,704 Compensated absences 17,058,559 Net pension liability Total noncurrent liabilities 60,495,018 116,278,415 Total liabilities DEFERRED INFLOWS OF RESOURCES Deferred inflows related to pensions and OPEB 1,312,315 1,312,315 Total deferred inflows of resources NET POSITION Net investment in capital assets Restricted for OPEB Unrestricted $ Total net position The notes to the financial statements are an integral part of this statement. 39 24,039,339 575,304 35,964,931 60,579,574 Maricopa County Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds Year Ended June 30, 2025 Governmental Activities – Internal Service Funds OPERATING REVENUES Charges for services $ 326,919,233 1,148,867 Miscellaneous 328,068,100 Total operating revenues OPERATING EXPENSES 21,069,081 Personal services Supplies 17,878,839 Other services 234,517,446 Legal 2,488,147 Insurance and claims 38,245,967 74,081 Leases and rentals 2,837,417 Repairs and maintenance 181,391 Travel and transportation 10,315,592 Utilities Depreciation/Amortization 6,648,056 Total operating expenses 334,256,017 (6,187,917) Operating loss NONOPERATING REVENUES (EXPENSES) Investment income 5,708,890 Interest expense (88,207) (848,897) Gain (loss) on disposal of assets Total nonoperating revenues (expenses) 4,771,786 Loss before contributions and transfers (1,416,131) 4,765,763 Capital contributions Change in net position 3,349,632 Total net position, July 1, 2024 57,229,942 Total net position, June 30, 2025 $ The notes to the financial statements are an integral part of this statement. 40 60,579,574 Maricopa County Statement of Cash Flows Proprietary Funds Year Ended June 30, 2025 Governmental Activities Internal Service Funds 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 used for operating activities 325,489,456 211,855 1,148,867 (311,561,491) (21,623,307) (6,334,620) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES 30,169 Loan repaid from General Fund 30,169 Net cash provided by noncapital financing activities 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 (9,213,739) 28,211 (251,141) (88,207) (9,524,876) Net cash used for capital and related financing activities CASH FLOWS FROM INVESTING ACTIVITIES 5,634,901 Interest and dividends 5,634,901 Net cash provided by investing activities Net decrease in cash and cash equivalents Cash and cash equivalents, July 1, 2024 Cash and cash equivalents, June 30, 2025 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 Compensated absences Pension/OPEB liabilities Other liabilities Deferred inflows of resources related to pensions $ (10,194,426) 130,312,416 120,117,990 $ (6,187,917) 6,648,056 (1,360,516) (6,198,469) $ Net cash used 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 $ (1,217,922) (58,475) (1,203,290) (520,111) (56,845) 129,967 (41,583) (376,394) 3,854,984 253,895 (6,334,620) (4,160,625) 4,141,649 18,976 (3,051,462) 2,193,330 858,132 68,758,573 (63,992,810) (4,765,763) Maricopa County Statement of Fiduciary Net Position Fiduciary Funds June 30, 2025 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 $ 14,896,973 $ $ 5,804,364,079 167,810,567 37,216,323 5,841,580,402 146,653,295 168,019 372,737,669 Property tax receivable for other governments Interest receivable Total assets $ 14,896,973 $ 58,105,788 $ Liabilities Property tax payable to other governments $ $ $ Due to others 32,182,606 82,782 32,265,388 Total liabilities Net Position Restricted for: Pool participants 5,841,580,402 Individuals, organizations, and other governments Total net position 14,896,973 14,896,973 $ The notes to the financial statements are an integral part of this statement. 42 $ 5,841,580,402 $ 340,472,281 340,472,281 Maricopa County Statement of Changes in Fiduciary Net Position Fiduciary Funds Year Ended June 30, 2025 Custodial External Private-Purpose Investment Trust Fund Pool Other Additions: Contributions from pool participants $ $ 11,275,450,147 $ Property tax collections for other governments Fines, fees, and forfeitures collected for other governments 4,837,268,731 151,619,240 Investment earnings: Interest income 177,878,119 91,507,657 Net increase (decrease) in fair value of investments 645,703 269,385,776 Net investment income 645,703 13,234,337 28,640,515 Other 28,640,515 Total additions 11,544,835,923 5,002,768,011 Deductions: Distributions to pool participants 11,150,934,916 Property tax distributions to other governments 4,937,710,272 Fines, fees, and forfeitures distributed to other governments 122,023,470 40,271,946 26,804,400 Other 26,804,400 11,150,934,916 5,100,005,688 Change in net position 1,836,115 393,901,007 (97,237,677) Net position, July 1, 2024 13,060,858 5,447,679,395 437,709,958 14,896,973 $ 5,841,580,402 Total deductions Net position, June 30, 2025 $ The notes to the financial statements are an integral part of this statement. 43 $ 340,472,281 44 Financial Section Basic Financial Statements Notes Maricopa County Basic Financial Statements – Notes NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 2 FUND BALANCE CLASSIFICATIONS OF THE GOVERNMENTAL FUNDS NOTE 3 RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS NOTE 4 STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY NOTE 5 DEPOSITS AND INVESTMENTS NOTE 6 CONDENSED FINANCIAL INVESTMENT POOL NOTE 7 RECEIVABLES NOTE 8 PUBLIC-PRIVATE PARTNERSHIPS NOTE 9 DUE FROM OTHER GOVERNMENTAL UNITS NOTE 10 CAPITAL ASSETS NOTE 11 CONSTRUCTION AND OTHER SIGNIFICANT COMMITMENTS NOTE 12 LONG-TERM LIABILITIES NOTE 13 MUNICIPAL LANDFILL CLOSURE AND POSTCLOSURE CARE COSTS NOTE 14 MUNICIPAL REVOLVING LINE OF CREDIT AND IRREVOCABLE STANDBY LETTER OF CREDIT NOTE 15 RISK MANAGEMENT NOTE 16 POLLUTION REMEDIATION OBLIGATIONS NOTE 17 PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS NOTE 18 INTERFUND BALANCES AND ACTIVITY NOTE 19 SUBSEQUENT EVENTS NOTE 20 DISCLOSURES FOR DISCRETELY PRESENTED COMPONENT UNITS STATEMENTS 47 OF COUNTY TREASURER’S Maricopa County Basic Financial Statements – Notes 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, 2025, the County implemented the provisions of GASB Statement No. 101, which requires that liabilities for compensated absences be recognized for (1) leave that has not been used and (2) leave that has been used but not yet paid in cash or settled through noncash means. The standard also defines what types of salary-related payments should be included in the liability. As a result, the County’s financial statements have been updated 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 48 Maricopa County Basic Financial Statements – Notes serves as the Board of Directors of the Special Assessment Districts and has operational responsibility over the District, they are considered a blended component unit of the County. Maricopa County Stadium District The Maricopa County Stadium District is a legally separate entity pursuant to A.R.S. §48-4202 that provides regional leadership and fiscal resources to assure the presence of Major League Baseball in Maricopa County. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Stadium District and has operational responsibility over the District, it is considered a blended component unit of the County. The Stadium District also issues separate financial statements. Complete financial statements for the Maricopa County Stadium District may be obtained at the entity’s administrative office listed below: Maricopa County Stadium District 301 West Jefferson, 10th floor Phoenix, Arizona 85003 www.maricopa.gov Maricopa County Street Lighting Districts The Maricopa County Street Lighting Districts are legally separate entities that provide street lighting in areas of the County that are not under local city jurisdictions. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Street Lighting Districts and has operational responsibilities over the Districts, they are considered a blended component unit of the County. The discretely presented component units are as follows: Industrial Development Authority of Maricopa County The Industrial Development Authority of Maricopa County (Authority) is a legally separate entity that was created to assist in the financing of commercial and industrial enterprises; safe, sanitary, and affordable housing; and healthcare facilities. The Authority fulfills its function through the issuance of tax exempt or taxable revenue bonds. The County Board of Supervisors appoints the Authority’s Board of Directors. The Authority’s operations are completely separate from the County and the County is not financially accountable for the Authority. All bonds issued by the Authority are special, limited obligations of the Authority, payable solely from revenues generated by the project being financed, and do not constitute debt of, a loan of, or credit by, the Authority. The Authority charges administration fees to bond applicants and uses such fees to cover its administration costs and to support its ongoing community and economic development in Arizona. The Authority is a special-purpose governmental entity engaged in business-type activities. Although the Authority is legally separate from the County, governmental accounting standards require the Authority to be reported as a discretely presented component unit of the County for financial reporting purposes as the County Board of Supervisors is able to impose its will on the Authority. Complete financial statements for the Industrial Development Authority of Maricopa County may be obtained at the entity’s administrative office listed below: Industrial Development Authority of Maricopa County 8687 E Via De Ventura, Ste. 306 Scottsdale, Arizona 85258 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 49 Maricopa County Basic Financial Statements – Notes time which allows the County to impose its will on the Housing Authority. As the governing bodies of the County and Housing Authority are not substantively the same, the Housing Authority is reported as a discretely presented component unit. The Housing Authority issues separate financial statements, which include eight discretely presented component units: Coffelt-Lamoreaux, L.L.C., Madison Heights Phase I, L.L.C., and Madison Heights Phase II, L.L.C. The River at Eastline, L.L.C., Coffelt Tenant, L.L.C., Heritage at Surprise, L.L.C., GEM Heritage, L.L.C., and Norton C, L.L.C. These component units have a December 31 year end and are combined and reported with the Housing Authority on Maricopa County’s financial statements. Complete financial statements for the Housing Authority of Maricopa County and their component units may be obtained at the entity’s administrative office listed below: Housing Authority of Maricopa County 8910 N. 78th Avenue, Building D Peoria, Arizona 85345 www.maricopahousing.org B. Basis of Presentation The basic financial statements include both government-wide statements and fund financial statements. The government-wide statements focus on the County as a whole, while the fund financial statements focus on major funds. Each presentation provides valuable information that can be analyzed and compared between years and between governments to enhance the information’s usefulness. Government-wide financial statements – provide information about the primary government (the County) and its component units. The statements include a statement of net position and a statement of activities. These statements report the overall government’s financial activities, except for fiduciary activities. They also distinguish between the County’s governmental and business-type activities and between the County and its discretely presented component units. Governmental activities generally are financed through taxes and intergovernmental revenues. Business-type activities are financed in whole or in part by fees charged to external parties. The statement of activities presents a comparison between direct expenses and program revenues for each function of the County’s governmental activities and segment of its business-type activities. Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. The County does not allocate indirect expenses to programs or functions. Program revenues include:  Charges to customers or applicants for goods, services, or privileges provided.  Operating grants and contributions.  Capital grants and contributions, including special assessments. Revenues that are not classified as program revenues, including internally dedicated resources, unrestricted grant revenues, and all taxes the County levies or imposes, are reported as general revenues. Generally, the effect of interfund activity has been eliminated from the government-wide financial statements to minimize the double counting of internal activities. However, charges for interfund 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 50 Maricopa County Basic Financial Statements – Notes and enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds. Internal service and fiduciary funds are aggregated and reported by fund type. Proprietary fund revenues and expenses are classified as either operating or nonoperating. Operating revenues and expenses generally result from transactions associated with the fund’s principal activity. Accordingly, revenues, such as user charges and insurance premiums, in which each party receives and gives up essentially equal values, are reported as operating revenues. Other revenues, such as subsidies, result from transactions in which the parties do not exchange equal values and are considered nonoperating revenues along with investment earnings and revenues ancillary activities generate. Operating expenses include the cost of services, administrative expenses, and depreciation/amortization on capital assets. Other expenses, such as interest expense, are considered nonoperating expenses. The County reports the following major governmental funds: The General Fund – is the County’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. The Coronavirus Fiscal Recovery Fund – accounts for the Coronavirus State and Local Fiscal Recovery Funds authorized under Subtitle M of the American Rescue Plan Act of 2021 to mitigate the fiscal effects stemming from the public health emergency with respect to the Coronavirus Disease (COVID19). The Detention Operations Fund – was established under the authority of propositions 400 and 401, which were passed in the General Election of November 3, 1998. These propositions authorized a temporary 1/5 of one-cent sales tax to be used for the construction and operation of adult and juvenile detention facilities. On November 5, 2002, the voters approved the extension of the 1/5 of one-cent sales tax in the General Election to be used for jail facility operations. The extension begins in the month following the expiration of the original tax and may continue for not more than twenty years after the date the tax collection begins. The Detention Operations Fund accounts for the receipt of tax revenue, jail operations expenditures, and transfers to the Detention Capital Projects Fund and Detention Technology Capital Improvement Fund for construction of the adult and juvenile detention facilities and detention technology infrastructure. The 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 2020, Certificates of Participation, Series 2022, 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: 51 Maricopa County Basic Financial Statements – Notes The internal service funds – account for automotive maintenance and service, information technology services, insurance services, self-insured employee benefits, and warehouse services provided to County departments or to other governments on a cost-reimbursement basis. The fiduciary funds – consist 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. 52 Maricopa County Basic Financial Statements – Notes The County accounts for its inventories in the governmental funds using the purchase method. Inventories of the governmental funds consist of expendable supplies held for consumption and are recorded as expenditures at the time of purchase. Amounts on hand at year-end are shown on the balance sheet as an asset for informational purposes only and as nonspendable fund balance to indicate that they do not constitute “available spendable resources.” These inventories are stated at weighted-average cost. F. Property Tax Calendar The County levies real property taxes and commercial personal property taxes on or before the third Monday in August that become due and payable in two equal installments. The first installment is due on the first day of October and becomes delinquent after the first business day of November. The second installment is due on the first day of March of the next year and becomes delinquent after the first business day of May. During the year, the County also levies mobile home personal property taxes that are due the second Monday of the month following receipt of the tax notice and become delinquent 30 days later. A lien assessed against real and personal property attaches on the first day of January preceding assessment and levy. G. Capital Assets Capital assets, which include property, plant, equipment, infrastructure (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. 53 Maricopa County Basic Financial Statements – Notes Intangible right-to use subscription assets are amortized over the shorter of the subscription term or the useful life of the underlying IT assets. H. Postemployment Benefits For purposes of measuring the net pension and other postemployment benefits (OPEB) assets and liabilities, deferred outflows of resources and deferred inflows of resources related to pensions and OPEB, and pension and OPEB expense, information about the plans’ fiduciary net position and additions to/deductions from the plans’ fiduciary net position have been determined on the same basis as they are reported by the plans. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. I. Fund Balance Classifications The governmental funds’ fund balances are reported separately within classifications based on a hierarchy of the constraints placed on those resources’ use. The classifications are based on the relative strength of the constraints that control how the specific amounts can be spent. The classifications are nonspendable, restricted, and unrestricted, which includes committed, assigned, and unassigned fund balance classifications. The nonspendable fund balance classification includes amounts that cannot be spent because they are either not in spendable form, such as inventories, or are legally or contractually required to be maintained intact. Restricted fund balances are those that have externally imposed restrictions on their usage by creditors (such as through debt covenants), grantors, contributors, or laws and regulations. The unrestricted fund balance category is composed of committed, assigned, and unassigned resources. Committed fund balances are self-imposed limitations the County’s Board of Supervisors approved, which is the highest level of decision-making authority within the County. Only the Board can remove or change the constraints placed on committed fund balances through formal Board action. Assigned fund balances are resources constrained by the County’s intent to be used for specific purposes, but that are neither restricted nor committed. Only the Board of Supervisors has authorization to assign fund balances. The unassigned fund balance is the residual classification for the General Fund and includes all spendable amounts not reported in the other classifications. Also, deficits in fund balances of the other governmental funds are reported as unassigned. The County’s policy is to account for most restricted and committed revenue sources (subject to legal restriction, etc.) by segregating them in a separate fund; however, by its nature, the General Fund may have several different classifications of fund balance. Therefore, when expending General Fund balance, if an expenditure is incurred that can be paid from either restricted or unrestricted fund balances, it is the County’s policy to use unrestricted fund balance first. For the disbursement of unrestricted fund balances, it is the County’s policy to use unassigned amounts first, followed by assigned amounts, and lastly committed amounts. J. Investment Earnings Investment earnings are composed of interest, dividends, and net changes in the fair value of applicable investments. 54 Maricopa County Basic Financial Statements – Notes K. Compensated Absences Compensated absences payable consist of vacation leave and a calculated amount of sick leave employees earned based on services already rendered. Employees may accumulate, and roll-over from year-to-year, up to 240 or 320 hours (depending on employee classification) of vacation leave, but any vacation hours in excess of the maximum amount that are unused at calendar year-end convert to sick leave. Upon terminating employment, all unused vacation benefits are paid to employees. Accordingly, vacation benefits are accrued as a liability in the government-wide and proprietary funds’ 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. As the County has no policy which dictates which hours are used first, and as employees historically use less sick leave than is accrued each fiscal year, then the accumulated sick leave is not more likely than not to be used for time off in a future reporting period. Therefore, a liability is not calculated for sick leave hours at fiscal year-end. 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, 2025, under this policy are accrued as a liability in the government-wide and proprietary funds’ 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). 55 Maricopa County Basic Financial Statements – Notes 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. 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 $765 thousand in credit card rebates during fiscal year 2025. O. Change in Accounting Estimate As of July 1, 2024, Maricopa County revised the method used to estimate compensated absences due within 1 year. Previously, the County estimated that compensated absences were substantially paid within one-year of fiscal year end. Based on a reassessment of usage patterns, the County determined using a historical average of leave expenses provides a more accurate measure of compensated absences due within 1 year. The change is being applied prospectively, beginning July 1, 2024. The effect of this change in the current period is reflected in the presentation of compensated absences in the Statement of Net Position for governmental activities. 56 Maricopa County Basic Financial Statements – Notes NOTE 2 – FUND BALANCE CLASSIFICATIONS OF THE GOVERNMENTAL FUNDS The fund balance classifications of the governmental funds as of June 30, 2025, were as follows: Coronavirus Fiscal Recovery General Fund Fund balances: Nonspendable: Inventory Total nonspendable $ 7,002,446 7,002,446 $ Restricted for: Capital projects Debt service Education Flood control Health and Welfare Judicial activities Law enforcement Library district Other purposes Parks and recreation Pension obligation Social services Stadium district Transportation Waste management Total restricted Detention Operations Fund $ 3,100,964 3,100,964 Opioid Abatement Fund $ 20,808,652 34,985,711 93,795,069 20,808,652 93,795,069 34,985,711 Committed to: Capital projects Debt service Education Health and welfare Other purposes Total committed Assigned to: General government Total assigned 358,489,153 358,489,153 Unassigned 43,917,078 Total fund balances $ 409,408,677 $ 20,808,652 57 $ 96,896,033 $ 34,985,711 Maricopa County Basic Financial Statements – Notes General Fund County Improvement Fund County Improvement Funds Fund balances: Nonspendable: Inventory Total nonspendable Restricted for: Capital projects Debt service Education Flood control Health and welfare Judicial activities Law enforcement Library district Other purposes Parks and recreation Pension obligation Social services Stadium district Transportation Waste management Total restricted Committed to: Capital projects Debt service Education Health and welfare Other purposes Total committed $ $ Other Governmental Funds $ 3,823,816 3,823,816 Total $ 87,919,829 110,664 5,251,702 86,084,909 87,919,829 1,141,146 89,060,975 22,390,738 1,336,011,985 22,390,738 1,336,011,985 110,664 5,251,702 86,084,909 19,359,342 57,100,944 190,631,159 31,951,781 9,097,474 5,114,197 94,000,000 284,064 2,112,735 129,487,512 8,158,143 638,744,626 75,153,705 57,100,944 285,567,374 31,951,781 9,097,474 5,114,197 94,000,000 284,064 2,112,735 129,487,512 8,158,143 877,395,033 68,597,582 6,172,279 3,271,601 15,425,888 57,449,023 150,916,373 1,427,000,305 6,172,279 3,271,601 15,425,888 57,449,023 1,509,319,096 Assigned to: General government Total assigned Unassigned Total fund balances 13,927,226 13,927,226 358,489,153 358,489,153 (17,433,123) (10,861,123) $ 100,590,590 $ 1,336,011,985 58 $ 776,051,692 15,622,832 $ 2,774,753,340 Maricopa County Basic Financial Statements – Notes NOTE 3 – 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, 2025 2,774,753,340 879,669,341 2,497,874,935 316,613,709 1,339,256,004 737,020,810 2,654,394 274,032,670 (1,403,049,139) 4,644,072,724 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, 2025 Unavailable revenue for grant revenues receivable at June 30, 2025 Unavailable revenue for settlement revenues receivable at June 30, 2025 Unavailable revenue for other revenues receivable at June 30, 2025 9,632,252 16,696,609 154,908,701 165 181,237,727 OPEB assets are not available for County operations and therefore, are not reported in the funds. 57,974,895 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. 60,579,574 Some long-term liabilities and compensated absences are not due and payable shortly after June 30, 2025, and therefore, are not reported in the funds. Certificates of participation payable at June 30, 2025 Pledged Revenue Obligations at June 30, 2025 Financed purchases payable at June 30, 2025 Compensated absences payable at June 30, 2025 Liability for closure and postclosure costs at June 30, 2025 Accrued interest at June 30, 2025 Leases and subscription based IT arrangements liability at June 30, 2025 Net pension and OPEB liability at June 30, 2025 (145,450,000) (180,000,000) (21,136,447) (90,492,677) (5,436,952) (6,276,304) (136,168,323) (1,338,597,360) (1,923,558,063) 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, 2025 Deferred inflows of resources related to pensions and OPEB at June 30, 2025 411,760,011 (110,954,397) 300,805,614 $ Net position of governmental activities 59 6,095,865,811 Maricopa County Basic Financial Statements – Notes 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, 2025 394,250,961 312,436,670 (160,391,102) 152,045,568 The net effect of various miscellaneous transactions involving capital assets is a decrease to net position. Donations of capital assets Net value of disposed capital assets for the year ended June 30, 2025 18,486,129 (30,308,480) (11,822,351) Revenues reported in the governmental funds exceeding amounts reported as earned on the Statement of Activities. Collections of grant revenues plus current-year revenues exceeding amount reported as earned during the year ended June 30, 2025 Collections of property taxes revenue plus current-year revenues exceeding amount reported as earned during the year ended June 30, 2025 Collections of settlement revenue plus current-year revenues exceeding amount reported as earned during the year ended June 30, 2025 Other unavailable revenue earned but not yet received during the year ended June 30, 2025 (17,263,756) (2,110,923) (7,058,797) 4,320,200 (22,113,276) The issuance of long-term debt (e.g., bonds, leases) 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 financed purchases Principal payments on leases and subscription-based IT arrangements Proceeds from pledged revenue obligation Proceeds from financed purchases Proceeds from leases Accrued interest payable 45,000,000 17,824,516 40,682,319 (180,000,000) (15,241,638) (37,619,176) (8,083,625) (137,437,604) 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 decrease in employee compensation payable Increase in inventories Net decrease in closure and postclosure care costs 992,918 614,857 453,126 2,060,901 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 expense of external activities of these funds is reported with governmental activities. (1,416,131) 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 60 273,543,101 (194,510,163) 79,032,938 454,601,006 Maricopa County Basic Financial Statements – Notes NOTE 4 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY At June 30, 2025, 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 Public Health Grants Recorder Grants School Grants Sheriff Grants Superior Court Grants $ Proprietary Funds: Risk Management 30,210 586,534 77,191 760,803 1,027,134 6,305,408 6,794,990 95,117 11,316 506,825 68,651 $ 35,594,102 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, Public Health Grants, Recorder Grants, School Grants, Sheriff Grants, and Superior Court Grants 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. 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, 2025, the total net position deficit was $35,594,102. This is primarily due to the Risk Management Fund not being funded for noncurrent accrued claim liabilities. 61 Maricopa County Basic Financial Statements – Notes NOTE 5 – DEPOSITS AND INVESTMENTS Arizona Revised Statutes (A.R.S.) authorize the County to invest public monies in the State Treasurer’s investment pool; obligations issued or guaranteed by the United States or any of the senior debt of its agencies, sponsored agencies, corporations, sponsored corporations, or instrumentalities; specified state and local government bonds, notes, and other evidences of indebtedness; interest-earning investments such as savings accounts, certificates of deposit, and repurchase agreements in eligible depositories; specified commercial paper issued by corporations organized and doing business in the United States; specified bonds, debentures, notes, and other evidences of indebtedness that are denominated in United States dollars; and certain open-end and closed-end mutual funds, including exchange traded funds. In addition, the County Treasurer may invest trust funds in certain fixed income securities of corporations doing business in the United States or District of Columbia. Credit risk Statutes have the following requirements for credit risk: 1. Commercial paper must be of prime quality and be rated within the top two ratings by a nationally recognized rating agency. 2. Specified bonds, debentures, notes, and other evidences of indebtedness that are denominated in United States dollars must be rated “A” or better at the time of purchase by at least two nationally recognized rating agencies. 3. Fixed income securities must carry 1 of the 2 highest ratings by Moody’s investors service and Standard and Poor’s rating service. If only 1 of these services rates the security, it must carry the highest rating of that service. Custodial credit risk Statutes require collateral for deposit at 102 percent of all deposits federal depository insurance does not cover. Concentration of credit risk Statutes do not include any requirements for concentration of credit risk. Interest rate risk Statutes require that public monies invested in securities and deposits have a maximum maturity of 5 years. However, the Stadium District is allowed by a separate statute to invest monies, not held for operations, in eligible investments with a maturity of greater than 5 years. The maximum maturity for investments in repurchase agreements is 180 days. Foreign currency risk Statutes do not allow foreign investments unless the investment is denominated in United States dollars. Deposits—At June 30, 2025, the carrying amount of the County’s deposits was $177,440,391 and the bank balance was $188,178,547. 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 $8,868,256,420 at June 30, 2025. The County categorized certain investments measured at fair value within the fair value hierarchy established by generally accepted accounting principles as follows: 62 Maricopa County Basic Financial Statements – Notes Fair value measurement using Investments by fair value level U.S. Treasury securities $ U.S. agency securities Amount Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) 2,530,782,051 $ $ 2,530,782,051 4,131,090,438 4,131,090,438 Corporate bonds 901,473,247 874,132,147 School/fire district bonds 10,325,000 Total investments by fair value level $ 27,341,100 10,325,000 $ 7,536,004,636 7,573,670,736 Investments measured at the net asset value (NAV) Money market mutual funds Money market mutual funds with trustee Total investments measured at the NAV Significant unobservable inputs (Level 3) $ 37,666,100 1,280,000,000 110,664 1,280,110,664 Investments measured at amortized cost School/fire district bonds 2,565,000 School district tax anticipation notes 9,753,058 Other investments Total investments measured at amortized cost 2,156,962 Total investments 14,475,020 $ 8,868,256,420 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 $2,156,962 of other investments consists of Public Fiduciary investments and registered warrants purchased by the County Treasurer, totaling $2,152,255 and $4,707 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, 2025, 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 U. S. agency securities Rating Rating Agency Aaa Aa1 A+ P-1 Unrated Moody’s Moody’s S&P Moody’s Not Applicable 63 Amount $ 57,740,222 3,220,066,971 6,035,109 264,319,869 582,928,268 Maricopa County Basic Financial Statements – Notes Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds School/fire district bonds School & other district tax anticipation notes (TANs) Money market mutual funds Money market mutual funds with trustee Aaa AA+ Aa2 Aa3 AAA1 A+ A2 A A3 ABBB+ Unrated Moody’s S&P Moody’s Moody’s S&P Moody’s S&P Moody’s S&P Moody’s S&P S&P Not Applicable 6,184,035 11,450,397 65,756,783 19,134,188 26,923,592 208,209,777 24,791,777 5,016,701 208,657,978 29,862,481 156,738,358 138,747,179 2,565,000 Unrated Aaa-mf Aaa-mf Not Applicable Moody’s Moody’s 20,078,058 1,280,000,000 110,664 6,335,317,407 $ The school and fire district bonds and tax anticipation notes 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, 2025, 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, 2025, were in the US Treasury, Federal Home Loan Banks (FHLB), Federal Farm Credit Banks (FFCB), and Farmers Mac. These investments were 28.5 percent, 18.2 percent, 17.2, percent, and 6.6 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, 2025, 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 School and other district TANs Money market mutual funds Money market mutual funds with trustee Amount $ 2,530,782,051 4,131,090,438 901,473,247 2,565,000 20,078,058 1,280,000,000 110,664 $ 8,866,099,458 Investment Maturities Less than 1–5 1 Year Years $ 1,560,830,681 $ 969,951,370 1,459,584,230 2,671,506,208 761,406,489 140,066,758 2,565,000 9,753,058 10,325,000 1,280,000,000 110,664 $3,791,849,336 $5,074,250,122 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. 64 Maricopa County Basic Financial Statements – Notes 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 $ $ Governmental Private-Purpose Activities Trust-Fund 152,220 177,440,391 8,868,256,420 9,045,849,031 Custodial Funds External Investment Pool Other Total Statement of Net Position: Cash in bank and on hand $ 52,791,421 $ Cash and investments in bank and on hand Cash and investments held by County Treasurer Cash and investments held by trustee Total $ $ 14,896,973 2,947,768,604 5,804,364,079 $ 52,791,421 58,105,788 73,002,761 167,810,567 8,919,943,250 111,599 $ 3,000,671,624 111,599 $ 14,896,973 $ 5,804,364,079 $ 225,916,355 $ 9,045,849,031 NOTE 6 – 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 $38,732,119 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 $152,220 of cash on hand, $101,754 mutual funds with trustee, and $125,643,831 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 5– 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 School/fire district bonds School and other district TANs Registered warrants Short term bills and notes US Treasuries Interest Rates 0.45 - 4.62% 0.50 - 5.10% 4.22 – 4.23% 0.79 - 11.35% 4.82 – 5.53% N/A 0.00 - 4.13% 0.38 - 4.88% Principal 913,640,000 3,800,945,000 1,280,000,000 2,565,000 20,075,000 4,707 1,041,000,000 1,870,000,000 65 Maturities 7/25 – 5/28 7/25 – 1/30 N/A 7/25 7/25 – 1/27 N/A 7/25 – 5/26 9/25 - 10/29 Fair Value 901,473,247 3,767,495,475 1,280,000,000 2,565,000 20,078,058 4,707 1,033,020,858 1,861,356,156 Maricopa County Basic Financial Statements – Notes A condensed statement of the investment pool’s net position and changes in net position follows. Statement of fiduciary net position Assets $ 8,977,118,071 $ 8,977,118,071 Liabilities Net position Net position held for: Internal participants $ External participants 3,109,211,083 5,867,906,988 Total net position $ 8,977,118,071 Statement of changes in fiduciary net position Total additions $ 22,228,619,348 Total deductions 21,723,939,127 Net increase $ 504,680,221 Net position: July 1, 2024 8,472,437,850 June 30, 2025 $ 8,977,118,071 NOTE 7 – 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. All other receivables are considered collectible. Governmental Funds General Fund Receivables: Accounts Receivable Taxes Accrued interest $ 4,658,445 Coronavirus Fiscal Recovery Detention Operations Fund $ $ Opioid Abatement Fund $ County Improvement Fund Other Governmental Funds $ $ 11,163,278 12,605,634 1,165,960 227,005 1,347,230 679,033 Leases Publicprivate/publicpublic partnerships Total receivables 5,534,766 $ 10,193,211 1,553,184 12,716,462 3,037,121 19,061,983 2,048,468 2,048,468 9,668,162 9,668,162 154,908,701 21,841,701 $ 208,596,987 154,908,701 Settlements $28,427,357 $ 1,165,960 $ 1,347,230 $ 155,135,706 $ 679,033 $ Total The County leases land to third parties under the provisions of various lease agreements. During the fiscal year ended June 30, 2025, the County recognized total lease-related revenues of $325,991 which consist of lease revenue of $232,045 and interest revenue of $93,946. The County contracts with operators to provide public services under various public-private arrangements. See Note 8 – Public-Private Partnerships for additional information. 66 Maricopa County Basic Financial Statements – Notes 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 first settlement distribution occurred in fiscal year 2023 and the County is expected to receive revenue over an estimated 18 year period. During the fiscal year ended June 30, 2025, the County recorded settlement revenue related to the opioid settlements in the Opioid Abatement Fund of $13,367,880. At June 30, 2025, the County has deferred inflows of $154,908,701 related to the settlements receivable in the Opioid Abatement Fund. NOTE 8 – 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, 2025, related to these arrangements was $9,668,162 and $8,997,081, 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, 2025, related to this agreement was $987,947 and $940,157, 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, 2025, related to this agreement was $1,545,568 and $1,470,969, 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, 2025, related to this agreement was $2,098,367 and $1,806,178, 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, 2025, related to this agreement was $1,757,813 and $1,679,636, 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, 2025, related to this agreement was $1,671,261 and $1,649,253, 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, 2025, related to this agreement was $1,607,206 and $1,450,888, respectively. 67 Maricopa County Basic Financial Statements – Notes NOTE 9 – DUE FROM OTHER GOVERNMENTAL UNITS Amounts due from other governmental units at June 30, 2025, 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 $ 163,497,653 19,062,125 Other Governmental Funds $ Total $ $ 1,536,617 24,435,062 47,346,910 50,187 $ 49,867 182,659,832 2,474,821 34,845,110 114,179 $ 2,259,983 49,721,072 $ 3,059,256 66,350,866 $ 163,497,653 20,598,742 24,435,062 47,346,910 2,474,821 35,009,476 5,369,106 298,731,770 NOTE 10 – CAPITAL ASSETS Capital asset activity for the year ended June 30, 2025, was as follows: Balance July 1, 2024 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 872,777,509 738,676,151 468,300 817,771,242 Increases $ 23,437,745 192,438,686 4,769,026 20,111,243 Balance June 30, 2025 Decreases $ 16,545,821 194,094,027 2,582,932 1,425,323 $ 879,669,433 737,020,810 2,654,394 836,457,162 2,429,693,202 240,756,700 214,648,103 2,455,801,799 2,359,392,711 430,744,458 468,577,778 165,600,050 57,113,775 34,221,064 10,837,252 38,791,526 2,514,155,509 449,066,707 502,798,842 196,017,916 24,388,397 1,107,919 219,298,394 52,198,390 4,327,237 3,511,258,490 15,804,480 12,608,984 297,127,766 63,345,681 55,393,886 4,327,237 3,745,040,575 842,587,435 320,506,964 174,444,630 61,980,388 42,254,866 9,978,139 10,262,995 25,019,377 894,304,828 337,742,453 184,422,769 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 53,959,899 44,292,762 1,107,919 97,144,742 15,215,260 1,428,907 1,408,143,095 6,843,894 1,689,109 167,039,158 8,202,934 44,593,225 13,856,220 3,118,016 1,530,589,028 Total capital assets being depreciated/ amortized, net 2,103,115,395 130,088,608 18,752,456 2,214,451,547 Governmental activities capital assets, net $ 4,532,808,597 68 $ 370,845,308 $ 233,400,559 $ 4,670,253,346 Maricopa County Basic Financial Statements – Notes The County pledged certain governmental activities land and buildings as collateral for various certificates of participation. See Note 12 – Long-term Liabilities for additional information regarding outstanding debt at June 30, 2025. 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 $58,244,040 73,446,974 8,606,221 9,418,369 10,093,309 582,189 6,648,056 $ 167,039,158 NOTE 11 – CONSTRUCTION AND OTHER SIGNIFICANT COMMITMENTS At June 30, 2025, 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, 2025, Maricopa County Transportation Department had contractual commitments, including retention payable, of $56,434,213 for construction of various roadway projects. At June 30, 2025, the County had spent $822,882,006 on these projects and had related estimated cost of completion based on the project budgets of $427,048,000, 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, 2025, Maricopa County Flood Control District had contractual commitments, including retention payable, of $91,449,297 for the construction of various flood control projects. At June 30, 2025, the County had spent $291,515,346 on these projects and had related estimated cost of completion based on the project budgets of $306,400,233, 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, 2025, Maricopa County had contractual commitments of $120,947,581, including retention payable, related to major capital projects accounted for in the County Improvement Fund (major governmental fund) and Technology Capital Improvement Fund (nonmajor governmental fund), which are partially financed by long-term debt and through transfers from the General Fund. At June 30, 2025, the County had spent $131,678,452 on these projects and had related estimated cost of completion based on the project budgets of $23,236,691, of which not all projects may be completed. Construction of Various County Facilities At June 30, 2025, Maricopa County had contractual commitments of $237,422,726 including retention payable, relating to major capital projects accounted for in the Coronavirus Fiscal Recovery Fund, County 69 Maricopa County Basic Financial Statements – Notes Improvement Fund, General Fund County Improvements Fund (major governmental funds), and Library District Capital Improvement Fund (nonmajor governmental fund), which are anticipated to be partially financed by long-term debt and through transfers from the General Fund and Library District Fund, respectively. At June 30, 2025, the County had spent $418,968,014 on these projects and had related estimated cost of completion based on the project budgets of $310,075,103, of which not all projects may be completed. NOTE 12 – LONG-TERM LIABILITIES The following schedule details the County’s long-term liability and obligation activity for the year ended June 30, 2025. Balance July 1, 2024 Governmental activities: Bonds, certificates of participation (COP), and other payables: COP, direct placement COP $ 190,450,000 16,900,000 Additions $ 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 Balance June 30, 2025 $ $ 45,000,000 16,900,000 180,000,000 PRO, direct placement Financed purchases Compensated absences payable 1 2 Leases payable Subscriptions liability Reductions $ 71,100,000 180,000,000 180,000,000 15,804,480 21,814,696 17,824,516 1,034,502 12,402,271 29,473,097 21,136,447 91,951,793 46,195,119 92,114,487 5,894,809 56,891,679 6,570,050 29,641,502 232,860,814 122,634,386 576,847,846 350,098,040 231,399,120 75,846,085 34,943,858 453,126 5,436,952 595,546 23,719,325 92,986,295 42,792,910 99,772,888 15,241,638 466,621,418 223,840,135 83,405,070 145,450,000 Due Within One Year 5,890,078 1,568,730,930 65,441,185 278,516,196 1,355,655,919 1,658,026,078 289,281,320 510,368,442 1,436,938,956 35,539,404 $ 2,124,647,496 $ 522,142,134 $ 633,002,828 $ 2,013,786,802 $ 385,637,444 (1) The reductions in compensated absences payable are presented as a net change. (2) Beginning July 1, 2024, Maricopa County revised the method used to estimate compensated absences payable due within 1 year. See Note 1 – Summary of Significant Accounting Policies for more information The County also has an unused revolving line of credit in the amount of $35,000,000. See Note 14 – Line of Credit for more information. Certificates of Participation 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 4.17 percent, 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, of $145,450,000, 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 70 Maricopa County Basic Financial Statements – Notes the owners of at least 5 percent 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, 2025: DESCRIPTION AMOUNT OF ISSUE INTEREST RATES MATURITY DATES 190,450,000 4.17% 8-1-25/26 COP, Series 2024 direct placement $ Total 190,450,000 OUTSTANDING AT JUNE 30, 2025 $ 145,450,000 $ 145,450,000 Annual debt service requirements to maturity for certificates of participation are as follows: Governmental Activities COP, Series 2024– Direct Placement Year Ending June 30 Principal Interest 2026 71,100,000 5,322,771 2027 74,350,000 1,549,826 Total $ 145,450,000 $ 6,872,597 Pledged Revenue Obligations On August 13, 2024, Maricopa County issued $180,000,000 of 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 4.56 percent, payable semiannually on August 1 and February 1 of each year, commencing on February 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 issued during the current fiscal year. The total amount of these pledged revenues in the current year was $1.03 billion. While future debt service payments will be approximately 17.5 percent of future revenues each year, it is not expected that these revenues will be needed as the final payment on these obligations is due February 1, 2026. The obligations are not callable prior to their scheduled maturity dates. The County’s outstanding Pledged Revenue Obligations, direct placement, of $180,000,000, contain provisions that in an event of default, the owners of a majority of the outstanding principal amount can request the Trustee to institute legal proceedings against the County to continue, discontinue, withdraw, compromise, settle, or dispose of the agreement. The following pledged revenue obligations were outstanding at June 30, 2025 DESCRIPTION AMOUNT OF ISSUE PRO, Series 2024 direct placement $ 180,000,000 Total $ 180,000,000 INTEREST RATES MATURITY DATES OUTSTANDING AT JUNE 30, 2025 4.56% 8-1-25 & 2-1-2026 $ 180,000,000 $ 180,000,000 Annual debt service requirements to maturity for pledged revenue obligations are as follows: Governmental Activities PRO, Series 2024 – Direct Placement Year Ending June 30 2026 Total Principal $ 180,000,000 Interest $ 6,156,000 $ 180,000,000 $ 6,156,000 71 Maricopa County Basic Financial Statements – Notes Financed Purchases The County has acquired vehicles, computer systems, and equipment under contract agreements at a total purchase price of $21,136,447. The following schedule details debt service requirements to maturity for the County’s financed purchases at June 30, 2025. Governmental Activities Year Ending June 30 Principal 2026 5,894,809 2027 Total 15,241,638 21,136,447 $ Interest 277,474 $ 590,461 867,935 Leases The County, as a lessee, has acquired the right-to-use building space, equipment, and vehicles under the provisions of various lease agreements. For all leases in excess of 12 months and that do not have mutual termination provisions, does not transfer ownership of the asset to the County during the lease, are exchange or exchange-like transaction, and meet the threshold where the present value of the minimum lease payments is $500,000 or more, the County recognizes a right-to-use lease asset and a corresponding lease liability. The right-to-use lease asset is initially measured at the value of the lease liability, plus any payments made prior to lease commencement, plus direct cost incurred to place the asset into service, less any incentives received prior to commencement. For additional information refer to Note 10 - Capital Assets. The total amount of lease assets and the related accumulated amortization are as follows: Intangible right-to-use lease assets being amortized $ 59,721,123 16,974,236 Less: accumulated amortization $ Carrying value 42,746,887 The following schedule details minimum lease payments to maturity for the County’s leases payable at June 30, 2025: Governmental Activities Year ending June 30 Principal Interest 2026 6,570,050 1,537,538 2027 6,353,742 1,313,930 2028 6,574,850 1,089,017 2029 6,895,926 854,586 2030 5,668,842 620,732 2031-2035 10,593,137 1,389,966 2036-2040 3,074,724 260,010 2041-2045 385,559 78,289 46,195,119 52,311 1,706 7,119,796 2046 Total $ 72 $ Maricopa County Basic Financial Statements – Notes 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, do not transfer the ownership of the asset to the County at the term of the subscription, are 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 the 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 10 - 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 219,298,395 97,144,742 122,153,653 The following schedule details minimum subscription payments to maturity for the County's subscription liability at June 30, 2025: Governmental activities Principal Interest 29,641,502 3,237,535 16,879,807 2,160,934 11,832,478 1,580,587 10,249,015 1,172,381 9,260,401 824,525 12,469,847 1,292,584 1,781,437 86,112 $92,114,487 $10,354,658 Year ending June 30 2026 2027 2028 2029 2030 2031-2035 2036-2037 Total Funding Source for Governmental Activities Liabilities Governmental Activities Liabilities Funding Source Certificates of participation County Improvement Debt Fund Pledged revenue obligation Pledged Revenue Obligation 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 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, 2025, the allowable six and fifteen percent limits were $6,747,588,629 and $16,868,971,571, respectively. The County had no outstanding general obligation debt at June 30, 2025 and was therefore within the legal debt margin. 73 Maricopa County Basic Financial Statements – Notes Arbitrage Compliance The County is in compliance with all Federal arbitrage regulations for tax-exempt debt securities. As of June 30, 2025, the County had no arbitrage liability. NOTE 13 – 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 the Gila Bend 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, 2025, 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 $5,436,952. 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 2025. 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 14 – MUNICIPAL REVOLVING LINE OF CREDIT AND IRREVOCABLE STANDBY LETTER OF CREDIT On July 1, 2024, 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, 2025. Outstanding principal and interest are due on June 30 of each year. During fiscal year 2025, the County had not borrowed against the line of credit. The municipal revolving line of credit was renewed to June 30, 2026. On July 1, 2024, the County maintained a $24,081,701 irrevocable standby letter of credit issued to the Industrial Commission of Arizona for unfunded workers’ compensation claims. On January 1, 2025, the letter of credit was decreased to $22,439,239. The letter of credit was reserved against the municipal revolving line of credit. During fiscal year 2025, the letter of credit had not been drawn upon. The irrevocable standby letter of credit was renewed to June 30, 2026, for $22,439,239. However, an amendment will be issued on January 1, 2026, for the new liability amount. NOTE 15 – 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 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, 74 Maricopa County Basic Financial Statements – Notes 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, 2025, 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 $ $ 2,568,000 14,153,000 21,480,000 2,607,000 864,000 396,000 402,000 110,000 4,127,780 4,392,447 46,000 4,393,000 55,539,227 Changes in the unpaid claims liability reported in the Risk Management Trust Fund follow: Year 2022-23 2023-24 2024-25 $ Balance July 1 79,898,171 74,022,111 64,398,696 Current-Year Claims And Changes In Estimates $ 11,637,099 10,629,955 11,247,523 Claims Payments $ (17,513,159) (20,253,370) (20,106,992) Balance June 30 $ 74,022,111 64,398,696 55,539,227 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, 2025, for each insurable area follow: Medical Dental Short-term disability Vision Total $ $ 19,433,108 531,619 239,052 103,079 20,306,858 Changes in the unpaid claims liabilities reported in the Employee Benefits Trust Fund follow: Year 2022-23 2023-24 2024-25 Balance July 1 $ 15,438,094 16,415,911 19,006,374 Current-Year Claims And Changes In Estimates $ 164,280,588 198,188,160 212,592,612 $ Claims Payments (163,302,771) (195,597,697) (211,292,128) $ Balance June 30 16,415,911 19,006,374 20,306,858 NOTE 16 – 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 15 – Risk Management. At June 30, 2025, the County reported $8,520,227 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 75 Maricopa County Basic Financial Statements – Notes 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. NOTE 17 – 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, 2025, 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 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) Governmental Activities $ 58,550,199 1,355,522,391 133,528 411,230,738 3,753,743 96,070,376 16,196,336 203,203,792 (7,406,806) The County’s accrued payroll and employee benefits includes $7,803,267 of outstanding pension and OPEB contribution amounts payable to all pension plans for the year ended June 30, 2025. Also, the County reported $273,543,101 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. 76 Maricopa County Basic Financial Statements – Notes 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: 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, 2025, statute required active ASRS members to contribute at the actuarially determined rate of 12.27 percent (12.12 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 12.27 percent (12.05 percent for retirement, 0.07 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 10.19 percent (10.14 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, 2025, were $90,249,443, $519,217, and $1,112,854. 77 Maricopa County Basic Financial Statements – Notes During fiscal year 2025, the County paid for ASRS pension contributions as follows: 62.1% from the General Fund, 12% percent from major funds, and 25.9% percent from other funds. Liability—At June 30, 2025, 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 814,338,996 Health insurance premium benefit Long-term disability (31,242,285) 133,528 The net asset and net liabilities were measured as of June 30, 2024. 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, 2023, to the measurement date of June 30, 2024. 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, 2024. The County’s proportions measured as of June 30, 2024, and the change from its proportions measured as of June 30, 2023, were: ASRS Proportion June 30, 2024 Increase (decrease) from June 30, 2023 Pension 5.1% 0.1% Health insurance premium benefit Long-term disability 5.2% 5.1% 0.1% 0.1% Expense—For the year ended June 30, 2025, the County recognized the following pension and OPEB expense. ASRS Pension/OPEB expense Pension 76,713,850 Health insurance premium benefit Long-term disability (4,546,457) 612,570 Deferred outflows/inflows of resources—At June 30, 2025, the County reported deferred outflows of resources and deferred inflows of resources related to pensions and OPEB from the following sources: ASRS Pension Deferred outflows of resources Differences between expected and actual experience $ 45,455,639 Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources Deferred inflows of resources $ $ 904,100 Total 7,543,791 324,076 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 $ 52,004,461 14,734,926 606,635 131,013 495,685 519,217 $ 52,611,096 $ 490,992 96,623 2,147,612 90,249,443 $ 150,440,008 Long-term disability Deferred Deferred outflows of inflows of resources resources $ 1,554,330 78 $ 355,618 799,425 145,849 120,467 102,725 1,112,854 $ 10,511,164 $ 1,820,936 $ 1,403,617 Maricopa County Basic Financial Statements – Notes The amounts reported as deferred outflows of resources related to ASRS pensions and OPEB resulting from county contributions subsequent to the measurement date will be recognized as an increase of the net asset or a reduction of the net pension liability in the year ending June 30, 2026. 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 2026 2027 2028 2029 2030 Thereafter Health insurance premium benefit (5,877,444) (1,405,619) (1,418,149) (649,829) (125,010) Pension (12,493,911) 42,780,858 (13,164,043) (9,543,435) Long-term disability (223,615) (11,733) (220,423) (207,236) (86,747) 54,219 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, 2023 June 30, 2024 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, 2023, 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 pension 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 4.48% 4.40% 6.05% 6.11% (0.45)% Maricopa County Basic Financial Statements – Notes Discount rate— At June 30, 2024, 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 pension plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension 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%) $ 1,246,919,535 Current Discount Rate (7.0%) $ 814,338,997 1% Increase (8.0%) $ 453,820,900 (22,712,921) (31,242,285) (38,493,911) 459,457 133,528 (187,067) 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 $471,119 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 Maricopa County Basic Financial Statements – Notes 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 Maricopa County Basic Financial Statements – Notes 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, 2025, the following employees were covered by the agent plans’ benefit terms: 82 Maricopa County Basic Financial Statements – Notes Inactive employees or beneficiaries currently receiving benefits Inactive employees entitled to but not yet receiving benefits Active employees Total PSPRS Sheriff Pension Health 652 652 PSPRS Attorney Investigators Pension Health 25 25 CORP Detention Pension Health 871 871 145 76 2 0 518 0 508 1,305 508 1,236 7 34 7 32 1,064 2,453 1,064 1,935 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 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, 2025, are indicated below. Rates are a percentage of active members’ annual covered payroll. Active member-pension County-pension County-health insurance premium benefit PSPRS Sheriff 7.65 – 8.99% 33.04 – 46.13% 0.0% PSPRS Attorney Investigators CORP Detention 7.65 – 8.63% 8.41 19.81 – 32.24 20.18 - 24.31 0.0 0.0 CORP AOC 8.41 or 8.38 36.72 – 40.85 0.08 - 0.24 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 33.04% 0.0% PSPRS Attorney Investigators CORP Detention 19.81% 20.18% 0.0% 0.0% CORP AOC 36.72% 0.0% The County’s contributions to the plans for the year ended June 30, 2025, were: Pension PSPRS Sheriff $ PSPRS Attorney Investigators CORP Detention CORP AOC 61,234,365 1,178,468 72,987,745 34,116,419 Health insurance premium benefit $ 0 0 0 145,414 During fiscal year 2025, the County paid for PSPRS and CORP pension and OPEB contributions as follows: 57.63 percent from the General Fund, 41.06 percent from major funds, and 1.32 percent from other funds. 83 Maricopa County Basic Financial Statements – Notes Liability—At June 30, 2025, 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) $ 56,524,963 744,539 71,038,315 257,885,107 Net OPEB (asset) liability $ (10,245,619) (118,376) (11,973,131) (688,529) The net assets and net liabilities were measured as of June 30, 2024, 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, 2024 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, 2024, 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 pension plan investments was determined to be 7.2 percent using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of 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 Target allocation 24% 16% 27% 6% 20% 5% 2% 100% Asset class U.S. public equity International public equity Global private equity Core bonds Private credit Diversifying strategies Cash - Mellon Total Long-term expected geometric real rate of return 3.62% 4.47% 7.05% 2.44% 6.24% 3.15% 0.89% 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 rates assumed that plan member contributions will be made at the current contribution rate and that employer contributions will be made at rates equal to the difference between the actuarially determined contribution rate and the member rate. Based on those assumptions, the plans’ fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension/OPEB liability. 84 Maricopa County Basic Financial Statements – Notes Changes in the net pension/OPEB liability PSPRS Sheriff Balances at June 30, 2024 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, 2025 Pension Increase (decrease) Total pension liability (a) $768,728,075 11,487,131 54,536,507 2,340,632 Net pension (asset) liability (a) – (b) $191,904,824 Total OPEB liability (a) $8,881,453 11,487,131 54,536,507 2,340,632 196,571 638,611 (686,117) (132,246,043) (4,532,058) (67,245,053) (45,527,431) 132,246,043 4,532,058 67,245,053 (45,527,431) 22,836,839 $791,564,914 (290,006) 10,983 158,216,700 $735,039,951 290,006 (10,983) (135,379,861) $56,524,963 PSPRS Attorney Investigators Balances at June 30, 2024 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, 2025 Plan fiduciary net position (b) $576,823,251 Health insurance premium benefit Increase (decrease) (416,844) Pension Increase (decrease) Total pension liability (a) $14,037,014 Plan fiduciary net position (b) $11,975,353 (267,779) $8,613,674 Plan fiduciary net position (b) $17,433,365 Net OPEB (asset) liability (a) – (b) $(8,551,912) 196,571 638,611 (686,117) 84,868 (84,868) 1,764,762 (416,844) (1,764,762) (6,858) 6,858 1,425,928 $18,859,293 (1,693,707) $(10,245,619) Health insurance premium benefit Increase (decrease) Net pension (asset) liability (a) – (b) $2,061,661 Total OPEB liability (a) $223,902 138,271 980,533 (288,893) 3,718 15,916 (18,809) 138,271 980,533 (288,893) (886,856) (56,030) (1,211,789) (1,113,546) 886,856 56,030 1,211,789 (1,113,546) (283,635) $13,753,379 (7,642) 1,033,487 $13,008,840 7,642 (1,317,122) $744,539 85 Plan fiduciary net position (b) $312,077 Net OPEB (asset) liability (a) – (b) $(88,175) 3,718 15,916 (18,809) 31,202 (13,123) (31,202) (13,123) (12,298) $211,604 (176) 17,903 $329,980 176 (30,201) $(118,376) Maricopa County Basic Financial Statements – Notes CORP Detention Pension Increase (decrease) Balances at June 30, 2024 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, 2025 Total pension liability (a) $754,829,748 Plan fiduciary net position (b) $557,662,435 Health insurance premium benefit Increase (decrease) Net pension (asset) liability (a) – (b) $197,167,313 Total OPEB liability (a) $11,969,428 10,306,375 53,962,633 12,134,577 189,165 860,136 (379,551) 10,306,375 53,962,633 12,134,577 (31,310,211) 45,093,374 $799,923,122 130,113,879 6,730,610 66,336,224 (31,310,211) (130,113,879) (6,730,610) (66,336,224) (612,941) 612,941 (35,189) 171,222,372 $728,884,807 35,189 (126,128,998) $71,038,315 (424,515) 245,235 $12,214,663 Plan fiduciary net position (b) $22,363,056 Net OPEB (asset) liability (a) – (b) $(10,393,628) 189,165 860,136 (379,551) 2,269,200 (424,515) (2,269,200) (19,947) 19,947 1,824,738 $24,187,794 (1,579,503) $(11,973,131) 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, 2024. The County’s proportion measured as of June 30, 2024, and the change from its proportions measured as of June 30, 2023, were: Proportion June 30, 2024 59.8% 62.0% CORP AOC Pension Health insurance premium benefit Increase (decrease) from June 30, 2023 (0.6) 0.6 Sensitivity of the County’s net pension/OPEB (asset) liability to changes in the discount rate—The following table presents the County’s net pension/OPEB (assets) liabilities calculated using the discount rate of 7.2 percent, as well as what the County’s net pension liability would be if it were calculated using a discount rate that is 1 percentage point lower (6.2 percent) or 1 percentage point higher (8.2 percent) than the current rate: 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 1% Decrease (6.2%) Current discount rate (7.2%) 1% Increase (8.2%) $158,697,284 (9,323,787) $ 56,524,963 (10,245,619) $ (27,217,070) (11,024,646) 2,052,191 (99,069) 744,539 (118,376) (370,164) (134,984) 190,232,860 (10,505,908) 71,038,315 (11,973,131) (24,851,865) (13,199,779) 353,938,923 389,459 257,885,107 (688,529) 179,548,787 (1,562,480) Pension 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, 2025, the County recognized the following pension and OPEB expense: Pension expense PSPRS Sheriff PSPRS Attorney Investigators CORP Detention CORP AOC (County’s proportionate share) $ 22,470,456 229,901 29,301,248 25,865,549 OPEB expense $ (1,406,755) 19,202 (1,297,306) (493,898) Deferred outflows/inflows of resources—At June 30, 2025, the County reported deferred outflows of resources and deferred inflows of resources related to pensions and OPEB from the following sources: PSPRS Sheriff Deferred outflows of resources Deferred inflows of resources Health insurance premium benefit Deferred Deferred inflows of outflows of resources resources $ $ $ Pension Differences between expected and actual experience Changes of assumptions or other inputs Net difference between projected and actual earnings on plan investments County contributions subsequent to the measurement date Total 22,064,639 2,901,030 203,257 16,142,509 $ 86,200,034 $16,345,766 249,077 $ 64,360 $ 1,350,358 Deferred outflows of resources Deferred inflows of resources Health insurance premium benefit Deferred Deferred inflows of outflows of resources resources $ $ $ Pension $ 9,405 163,923 4,343 1,178,468 $ 1,178,468 $ 163,923 CORP Detention $ $ 13,748 Deferred outflows of resources Deferred inflows of resources Health insurance premium benefit Deferred Deferred inflows of outflows of resources resources $ $ $ 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 Employer Contribution and Proportionate Share Contributions County contributions subsequent to the measurement date Total 1,101,281 61,234,365 PSPRS Attorney Investigators Differences between expected and actual experience Net difference between projected and actual earnings on plan investments Changes in Proportion and Differences Between Employer Contribution and Proportionate Share of Contribution County contributions subsequent to the measurement date Total $ 64,360 26,443,263 3,438,688 531,266 $ 1,278,577 101,589 15,282,627 331,108 72,987,745 $ 102,869,696 87 $ 15,813,893 $101,589 $ 1,609,685 Notes to the Financial Statements (Continued) CORP AOC Deferred outflows of resources Deferred inflows of resources Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources $ $ 1,313,305 $ 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 16,934,168 3,313,719 $ 5,484,299 2,258,614 117,779 2,673,120 41,135 34,116,419 $ 56,622,920 1,023,805 16,981 11,596 154,414 $ 9,470,724 $ 212,530 $ 1,153,180 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 a reduction of the net liability in the year ending June 30, 2026. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as expenses as follows: Year ending June 30 2026 2027 2028 2029 2030 PSPRS Sheriff Pension Health 259,894 (665,685) 11,666,149 (99,033) 713,573 (279,705) (4,019,713) (241,575) PSPRS Attorney Investigators Pension Health (208,332) (14,918) 197,881 5,138 (82,276) (2,126) (71,196) (1,842) CORP Detention Pension Health 6,292,143 (914,750) 14,729,149 26,322 (2,471,762) (323,909) (4,481,472) (295,759) CORP AOC Pension Health (968,903) (526,052) 12,442,599 (207,977) 2,173,195 (223,539) (611,113) (124,365) (13,131) 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, 2025, 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, 2025, the County recognized pension expense of $1,575,818. C. Elected Officials Retirement Plan Plan description—Elected officials and judges participate in the Elected Officials Retirement Plan (EORP), ASRS or the Elected Officials Defined Contribution Retirement System (EODCRS). EORP administers a cost-sharing multiple-employer defined benefit pension plan and a cost-sharing multiple-employer defined benefit health insurance premium benefit (OPEB) plan for elected officials and judges who were members of the plan on December 31, 2013. The EORP pension and OPEB plans was closed to new members as of January 1, 2014. The PSPRS Board of Trustees governs the EORP according to the provisions of A.R.S. Title 38, Chapter 5, Article 3. The PSPRS issues a publicly 88 Notes to the Financial Statements (Continued) 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, 2025, statute required active EORP members to contribute 7 or 13 percent of the members’ annual covered payroll 89 Notes to the Financial Statements (Continued) and the County to contribute at the actuarially determined rate of 70.44 percent of all active EORP members’ annual covered payroll. Also, statute required the County to contribute 58.32 percent to EORP of the annual covered payroll of elected officials and judges who were ASRS members and 46.62 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 52.62 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, 2025, were $13,919,604. During fiscal year 2025, the County paid for EORP pension contributions as follows: 99.97 percent from the General Fund and 0.03 percent from other nonmajor funds. Liability— At June 30, 2025, 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 $ 154,519,352 $ 10,662,767 165,182,119 The County also reported an asset of $4,223,813 for its proportionate share of EORP’s net OPEB asset. The net asset and net pension liability was measured as of June 30, 2024, 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, 2024. 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, 2024. The County’s proportion measured as of June 30, 2024, and the change from its proportions measured as of June 30, 2023, were: EORP Pension Health insurance premium benefit Proportion June 30, 2024 25.9% 28.1% Increase (decrease) from June 30, 2023 11.6 0.6 Expense—For the year ended June 30, 2025, the County recognized pension and OPEB expenses for EORP of $48,717,760 and ($290,204), respectively, and revenue of $4,320,200 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, 2025, 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 inflows of resources Deferred outflows of resources 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 $ $ Health insurance premium benefit Deferred Deferred inflows of outflows of resources resources $ 12,569 $ 100,155 1,629,168 $ 13,919,604 $ 13,919,604 $ 1,629,168 41,029 $ $ 153,753 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, 2026. 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 2026 2027 2028 2029 $ Pensions (1,497,935) 1,233,096 (754,601) (609,728) Health insurance premium benefit (174,015) 119,822 (55,596) (43,964) 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, 2024 Entry age normal 7.2% 3.25% for pensions/not applicable for OPEB 2.5% for pensions/not applicable for OPEB 1.85% for pensions/not applicable for OPEB PubG-2010 tables Not applicable Actuarial assumptions used in the June 30, 2024, valuation were based on the results of an actuarial experience study for the 5-year period ended June 30, 2021. The long-term expected rate of return on EORP pension plan investments was determined to be 7.2 percent using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expenses and inflation) are developed for each major asset class. The target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table: 91 Notes to the Financial Statements (Continued) Target allocation Long-term geometric real rate of return 24% 3.62% International public equity 16% 4.47% Global private equity 27% 7.05% Core bonds 6% 2.44% Private credit 20% 6.24% Diversifying strategies 5% 2% 100% 3.15% Asset class U.S. public equity Cash - Mellon Total 0.89% Discount rate—At June 30, 2024, 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 pension plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension/OPEB liability. Sensitivity of the County’s proportionate share of the EORP net pension/OPEB (asset) liability to changes in the discount rate—The following table presents the County’s proportionate share of the net pension/OPEB (asset) liability calculated using the discount rate of 7.2 percent, as well as what the County’s proportionate share of the net pension/OPEB (asset) liability would be if it was calculated using a discount rate that is 1 percentage point lower (6.2 percent) or 1 percentage point higher (8.2 percent) than the current rate: 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%) $ 179,664,020 $ 154,519,352 $ 132,923,613 $ (3,930,463) $ (4,223,813) $ (4,480,491) 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, 2025, 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, 2025, the County recognized pension expense of $422,765 92 Notes to the Financial Statements (Continued) NOTE 18 – INTERFUND BALANCES AND ACTIVITY Interfund receivables and payables – interfund balances at June 30, 2025, were as follows: Payable To Payable from County Improvement Fund Nonmajor Governmental Funds Internal Service Funds Total Due From $ $ General Fund 10,112,473 4,872,907 555,392 15,540,772 Total Due To 10,112,473 4,872,907 555,392 $ 15,540,772 $ 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, 2025. Interfund transfers – interfund transfers for the year ended June 30, 2025, were as follows: Transfers Out General Fund General Fund $ Detention Operations Fund $226,556,414 County Improvement Fund $ $ General Fund County Improvements Fund 320,034,806 Nonmajor Governmental Funds $ 55,849,902 3,000,000 Coronavirus Fiscal Recovery Fund 3,000,000 60,116,775 60,116,775 53,659,773 103,075,693 106,017,811 127,167,265 $275,644,261 $ 895,800,855 Detention Operations Fund General Fund County Improvements Fund Nonmajor Governmental Funds 31,190,572 18,004,437 3,145,017 Total Transfers In $49,195,009 $229,701,431 18,225,348 $18,225,348 $ 323,034,806 Total Transfers Out $602,441,122 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 $ 15,540,772 $ $ 49,195,009 $ 602,441,122 Special Revenue Funds Coronavirus Fiscal Recovery 3,000,000 Detention Operations 229,701,431 60,116,775 Capital Projects Funds County Improvement Fund 10,112,473 General Fund County Improvement 18,225,348 323,034,806 93 103,075,693 Notes to the Financial Statements (Continued) Due From Other Funds Funds Due To Other Funds Transfers In Transfers Out NONMAJOR FUNDS Special Revenue Funds Air Quality Grants 997,722 Animal Control License/Shelter 9,808,092 Clerk of the Court Grants 247,707 County Attorney Grants 1,195,486 Emergency Management 1,002,413 Environmental Services Environmental Health 40,235 Flood Control 40,366,361 Human Services Grants 1,193,021 1,288,664 Juvenile Probation Grants 50,000 Juvenile Restitution 50,000 Law Library Fees 100,000 Library District 10,000,000 Pension Reserve Fund 1,450 Superior Court Building Repair 100,000 Sheriff RICO 43,558 Taxpayer Information 500,000 Transportation Grants 193,000 Transportation Operations 55,000,000 Capital Projects Funds Detention Capital Projects 56,096,940 Detention Technology Capital Improvement 2,460,071 Flood Control Capital Projects 40,366,361 Library District Capital Improvement 10,000,000 Technology Capital Improvement 40,600,391 Transportation Capital Projects 55,000,000 3,145,017 18,004,437 Debt Service Funds County Improvement Debt 56,184,057 Pledged Revenue 3,649,450 Internal Service Funds Sheriff Supply Warehouse Total 555,392 $ 15,540,772 $ 94 15,540,772 $ 895,800,855 $ 895,800,855 Notes to the Financial Statements (Continued) NOTE 19 – SUBSEQUENT EVENTS Under the One Arizona Memorandum of Understanding (One Arizona Plan) related to national opioid settlements, Maricopa County is allocated a portion of settlement monies as the cases are settled. The Arizona Attorney General’s Office handles the settlements for all parties in the One Arizona Plan. Two settlements have occurred since June 30, 2025, and the County will recognize approximately $21.0 million in revenues in fiscal year 2026. Effective September 26, 2025, the Maricopa County Stadium District (the “District”) will no longer be reported as a component unit of Maricopa County. This change results from House Bill (HB) 2704, passed by the Arizona State Legislature and signed by the Governor on June 27, 2025, which amended Arizona Revised Statutes §48-4202. Under the amended statute, the District’s Board of Directors will consist of ten members, of which only one member is appointed by the Maricopa County Board of Supervisors. Accordingly, the County will no longer be able to impose its will on the District, and there will no longer be a financial benefit or burden relationship between the County and the District. As a result, beginning September 26, 2025, the District will no longer meet the criteria for inclusion as a component unit of Maricopa County under GASB reporting standards. NOTE 20 – 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, 2025, consist of the following: Cash in bank $ Investments: Money market Federal National Mortgage Association Government National Mortgage Association Arizona Community Foundation Down Payment Assistance Investment Notes $ Total deposits and investments: 95 1,235,401 10,816,325 19,746 6,705 2,687,620 4,210 14,770,007 Notes to the Financial Statements (Continued) Deposits Custodial credit risk is the risk that in the event of a bank failure, the IDA’s deposits may not be returned to it. The IDA places its cash with High-credit quality financial institutions. At various times throughout the year and at year-end, the IDA’s cash balances exceed the federally insured limits. At June 30, 2025 $11,557,472 was uninsured and uncollateralized. Management believes there are no unusual risks associated with current depository institutions. The IDA has no policy concerning exposure to custodial credit risk. Investments Interest Rate Risk – The IDA’s investment policy concerning exposure to interest rate risk is acceptance of no return lower than the market return normally associated with any specific asset class into which the IDA invests. Estimated maturities of the IDA’s investments consisted of the following at June 30, 2025: 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 19,746 $ 19,746 6,705 6,705 2,687,620 Totals: 2,687,620 2,825 1,385 Down Payment Assistance Investment Notes $ 2,689,005 Totals $ 2,825 4,210 $ $ 26,451 $ 2,718,281 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, 2025 were in the Arizona Community Foundation. These investments were 98.9% 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, 2025, 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 $242,496 and no realized gains or losses for the year ended June 30, 2025. 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. 96 Notes to the Financial Statements (Continued) The fair value measurement framework establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The fair value measurements define levels within the hierarchy based on the reliability of inputs as follows: Level 1 – Valuations based on unadjusted quoted prices for identical assets or liabilities in active markets; Level 2 – Valuations based on quoted prices for similar assets or liabilities or identical assets or liabilities in less active markets, such as dealer or broker markets; and Level 3 – Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable, such as pricing models, discounted cash flow models and similar techniques not based on market, exchange, dealer or broker-traded transactions. The IDA’s investments at June 30, 2025, 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: $ 19,746 6,705 2,687,620 2,714,071 $ $ 4,210 2,718,281 Level 3 $ $ 19,746 6,705 $ $ $ 26,451 $ 2,687,620 2,687,620 C. Capital Assets The following is a summary of the changes in capital assets for the year ended June 30, 2025 for HAMC: Balance July 1, 2024 Increase Balance June 30, 2025 Decrease Nondepreciable assets: Land Construction in progress Total capital assets not being depreciated $ Depreciable assets: Buildings and improvements Machinery and equipment Leasehold improvements Total Less accumulated depreciation for: Buildings and improvements Machinery and equipment Leasehold improvements Total $ $ 405,361 18,764,438 19,169,799 $ 29,819,935 29,819,935 $ 7,123,846 15,036,275 22,160,121 153,973,946 6,613,946 833,909 29,292,321 765,383 182,839 319,061 79,797 183,083,428 7,060,268 754,112 161,421,801 30,057,704 581,697 190,897,808 54,196,912 4,567,422 177,605 4,493,007 536,785 568,134 310,625 58,689,919 4,793,582 745,739 58,941,939 5,597,926 310,625 64,229,240 102,479,862 Total capital assets being depreciated, net Total capital assets 6,718,485 26,091,772 32,810,257 135,290,119 97 24,459,778 $ 43,629,577 271,072 $ 30,091,007 126,668,568 $ 148,828,689 Notes to the Financial Statements (Continued) D. Long-Term Liabilities The following is a summary of the changes in noncurrent liabilities for the year ended June 30, 2025 for HAMC: Balance July 1, 2024 Loans and other payables: Loans payable Subscriptions Other noncurrent liabilities Net pension liabilities Total noncurrent liabilities $ $ Additions 57,038,343 547,037 3,002,376 2,909,424 $ 21,711,398 63,497,180 $ Reductions Due Within One Year $ 17,771,499 120,507 $ 60,978,242 426,530 3,890,092 3,240,305 $ 12,118,654 86,826 101,315 $ 17,892,006 $ 68,535,169 $ 12,306,795 887,716 330,881 22,929,995 Balance June 30, 2025 As part of the change in compensated absences related to the implementation of GASB Statement 101, increases and decreases are reported net in the schedule above. 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 $290,644 as of June 30, 2025, which is included in accounts payable - HUD on the accompanying statement of net position. The Authority executed a repayment agreement in 2025 with HUD totaling $784,503 to repay EHV HAP Funds, EHV Admin Fees, and EHV Incentive Fees as determined by a HUD Quality Assurance Division review. The agreement bears no interest and will call for repayment on September 1, 2025. The outstanding balance was $784,503 as of June 30, 2025, which is included in accounts payable - HUD on the accompanying statement of net position. On August 7, 2025, the Authority repaid HUD in the amount totaling $784,503. The following is a summary of loans payable for HAMC as of June 30, 2025: 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. The loan is collateralized by the real estate During 2003, the Authority 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, December 31, 2033. Payments are contingent on positive cash flow of the Partnership. The loan is collateralized by the real estate. During 2017, the Authority 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. The loan is collateralized by the real estate. On June 27, 2018, the Authority 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. The loan is collateralized by the real estate. 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. The loan is collateralized by the real estate. 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 98 $ 3,603,020 570,000 450,000 500,000 900,000 1,266,126 Notes to the Financial Statements (Continued) 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 ("ADOH") 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, 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 and has a maturity date of December 31, 2058. The loan is nonrecourse debt secured in third priority by the project's rental property. Second mortgage totaling $1,000,000 due to ADOH for construction of the project. The mortgage bears interest at 2% per annum, with annual payments of principal and interest of $36,339 subject to surplus cash flow commencing June 30, 2018 until maturity on June 30, 2057. The loan is nonrecourse debt secured by the project's rental property. Note payable to JPMorgan Chase Bank, dated December 27, 2019, for the original loan amount of $1,000,000. The note bears interest at a fixed rate of 6.01%. Monthly installments of principal and interest in the amount of $4,167 are payable beginning July 10, 2020. The note matures December 27, 2038 at which time all remaining principal and interest shall be due. The note is secured by the mortgage on the rental property. HOME note payable to Maricopa County, dated June 27, 2018, for the original loan amount of $300,000. This loan does not bear interest. The note matures July 1, 2048 at which time all remaining principal shall be due. The note is secured by a HOME program mortgage on the rental property. HOME note payable to Arizona Department of Housing, dated June 27, 2018, for the original loan amount of $335,742. The note bears simple interest at 3.05% annually beginning January 1, 2020. Annual installments of principal and interest are payable beginning June 1, 2021 and shall be paid in the amount greater of either $1,000 or surplus cash flow. The note matures June 1, 2050 at which time all remaining principal and interest shall be due. The note is secured by a HOME program mortgage on the rental property. Note payable to Orix Real Estate Capital, LLC, dated January 29, 2021, in the original principal amount of $5,600,000. The note bears interest at 4.8% and has a service fee of 0.09%. Monthly payments of principal and interest beginning in February 2022. The note matures January 1, 2038 at which time all remaining principal and interest shall be due. The note is secured by a mortgage on the rental property. Note payable to the Arizona Department of Housing dated October 31, 2018, in the original principal amount of $4,800,000. The note bears interest at 2.99%. Annual payments of principal and interest are payable beginning June 1, 2021, subject to cash flow. Interest begins to accrue beginning January 1, 2020. The note matures June 1, 2069 at which time all remaining principal and interest shall be due. On September 27, 2024, Norton C, LLC entered into a promissory note for $11,500,000 from Rocky Mountain Community Reinvestment Co. The note bears interest at 5.335 percent per annum. Monthly payments of principal and interest in the amount of $58,071 are payable beginning November 1, 2024. The note matures on October 1, 2040 at which time all remaining principal and interest shall be due. The note is collateralized by the real estate. 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. 99 222,391 277,982 1,365,727 170,000 12,866,952 1,313,339 971,245 941,932 300,000 335,742 5,354,251 4,800,000 11,493,066 1,192,500 10,848,089 Notes to the Financial Statements (Continued) Annual debt service requirements to maturity are as follows: Principal $ 11,381,757 566,908 591,215 615,961 643,332 46,229,069 950,000 $ 60,978,242 Year Ending June 30 2026 2027 2028 2029 2030 2031-2035 2036-2040 Total 100 Financial Section Required Supplementary Information Maricopa County Required Supplementary Information Budgetary Comparison Schedule General Fund Year Ended June 30, 2025 Variance With Final Budget Budgeted Amounts Original Final Actual Positive Amounts (Negative) REVENUES Taxes $ 677,522,599 $ 677,522,599 $ 681,845,799 $ 4,323,200 1,398,392 1,398,394 1,834,787 436,393 Intergovernmental 1,186,995,557 1,187,011,621 1,217,992,304 30,980,683 Charges for services 53,422,383 53,422,261 67,394,468 13,972,207 Fines and forfeits 10,941,560 10,941,563 11,407,687 466,124 Interest income 2,400,000 2,400,000 94,383,387 91,983,387 Licenses and permits Miscellaneous Total revenues 2,539,552 2,539,669 23,949,815 21,410,146 1,935,220,043 1,935,236,107 2,098,808,247 163,572,140 36,702,459 36,232,326 34,382,432 1,849,894 480,926 EXPENDITURES General government Assessor Assistant County Manager 748,974 Board of Supervisors 2,729,325 3,305,170 2,824,244 County Call Center 3,139,811 3,221,974 3,210,874 11,100 Clerk of the Board 1,932,493 1,982,036 1,743,065 238,971 County Attorney 12,156,501 13,680,341 12,694,443 985,898 County Manager’s Office 4,743,620 7,840,753 7,064,570 776,183 Deputy County Manager 940 2,208,438 Elections 30,644,728 30,995,161 27,804,233 3,190,928 Enterprise Technology 87,865,811 92,115,397 65,906,490 26,208,907 Equipment Services 3,261,381 3,482,246 3,238,908 243,338 Facilities Management 61,532,338 61,709,762 54,047,523 7,662,239 Human Resources 16,685,393 17,007,080 16,762,642 244,438 Internal Audit 2,842,518 3,398,148 2,731,336 666,812 143,338,541 127,908,491 (14,104,894) 142,013,385 Office of Budget and Finance 6,515,835 6,701,793 6,130,757 571,036 Procurement Services 3,134,992 3,403,648 2,952,109 451,539 Recorder 30,715,378 30,207,723 24,433,966 5,773,757 Non Departmental 13,091,140 14,846,999 12,014,317 2,832,682 463,989,676 458,039,048 263,837,015 194,202,033 Adult Probation 89,481,033 94,865,024 93,103,014 1,762,010 Clerk of Superior Court Constables County Attorney 48,886,742 50,339,430 50,323,441 15,989 4,868,384 5,122,747 4,764,695 358,052 113,604,503 119,268,360 117,876,102 1,392,258 Emergency Management 6,163,405 6,394,984 6,167,545 227,439 Equipment Services 9,536,582 9,592,364 9,434,518 157,846 Treasurer Total general government Public safety Facilities Management 5,940,027 4,643,870 3,458,263 1,185,607 Justice Courts 27,065,076 27,911,454 26,135,190 1,776,264 Juvenile Probation 26,314,933 29,086,124 28,557,744 528,380 Legal Advocate 21,675,514 21,158,879 21,108,996 The notes to the budgetary comparison schedules are an integral part of this schedule. 103 49,883 (continued) Maricopa County Required Supplementary Information Budgetary Comparison Schedule General Fund (Continued) Year Ended June 30, 2025 Variance With Final Budget Budgeted Amounts Original Final Actual Positive Amounts (Negative) Public safety (cont.) Legal Defender $ 19,576,613 $ 69,730,679 Non Departmental 19,241,633 $ 41,188,229 19,174,606 $ 67,027 10,959,435 30,228,794 Planning and Development 1,262,361 1,265,866 1,123,946 141,920 Public Advocate 13,487,651 13,925,961 13,896,263 29,698 Public Defender 59,565,810 59,503,291 59,452,483 50,808 Public Defense Services 55,474,716 60,747,156 60,377,728 369,428 6,053,678 6,216,264 5,998,918 217,346 Sheriff 198,443,453 202,304,595 195,174,292 7,130,303 Superior Court Total public safety 145,105,961 150,573,123 136,246,826 14,326,297 922,237,121 923,349,354 863,334,005 60,015,349 109,439 123,122 35,139 87,983 114,244 123,122 35,139 87,983 1,096,656 1,096,656 1,096,656 945,259 945,259 945,259 Correctional Health 3,660,893 3,681,220 3,680,967 253 Environmental Services 10,994,637 11,285,506 11,242,574 42,932 Public Fiduciary Highways and Streets 4,805 Non-Departmental Transportation Total highways and streets Health, welfare and sanitation Air Quality Animal Care and Control Human Services 4,471,683 4,523,325 4,511,034 12,291 Medical Examiner 17,382,126 17,815,000 17,359,273 455,727 Non Departmental 374,884,670 373,823,268 370,827,115 2,996,153 Public Health 20,019,387 20,560,079 20,564,258 (4,179) 433,455,311 433,730,313 430,227,136 3,503,177 1,506,905 1,506,905 1,343,915 162,990 3,042,222 Total health, welfare and sanitation Culture and recreation Parks and Recreation Education 3,232,083 3,300,057 Non Departmental 520,660 464,261 Total Education 3,752,743 3,764,318 3,042,222 722,096 1,825,056,000 1,820,513,060 1,561,819,432 258,693,628 County School Superintendent Total expenditures Excess of revenues over expenditures $ 110,164,043 $ 114,723,047 The notes to the budgetary comparison schedules are an integral part of this schedule. 104 257,835 464,261 $ 536,988,815 $ 422,265,768 (continued) Maricopa County Required Supplementary Information Budgetary Comparison Schedule General Fund (Continued) Year Ended June 30, 2025 OTHER FINANCING SOURCES (USES) Financed Purchase Agreements $ $ $ 11,363,889 $ 11,363,889 Transfers in 49,195,009 49,195,009 49,195,009 Transfers out (604,435,930) (608,994,934) (602,441,122) 6,553,812 (555,240,921) (559,799,925) (541,882,224) 17,917,701 Net change in fund balances (445,076,878) (445,076,878) (4,893,409) 440,183,469 Fund balance, July 1, 2024 445,076,878 445,076,878 413,039,268 (32,037,610) Total other financing uses Change in nonspendable resources: 1,262,818 Increase in inventories Fund balance, June 30, 2025 $ $ The notes to the budgetary comparison schedules are an integral part of this schedule. 105 $ 409,408,677 1,262,818 $ 409,408,677 Maricopa County Required Supplementary Information Budgetary Comparison Schedule Coronavirus Fiscal Recovery Fund Year Ended June 30, 2025 Variance With Final Budget Budgeted Amounts Original Final Actual Positive Amounts (Negative) REVENUES Intergovernmental $ 214,763,487 $ 244,280,306 $ Interest income Total revenues 165,019,967 $ (79,260,339) 18,278,474 18,278,474 214,763,487 244,280,306 183,298,441 (60,981,865) 24,801,443 23,185,322 14,019,821 9,165,501 238,362 233,815 4,547 2,030,239 679,578 1,350,661 EXPENDITURES General Government Assistant County Manager County Attorney County Manager 1,637,661 Human Resources 660,040 Non Departmental Office of Budget and Finance 518,449 676,765 227,658 449,107 15,720,072 12,675,745 3,044,327 431,612 183,997 247,615 357,411 408,258 129,796 278,462 27,975,004 42,690,630 28,150,410 14,540,220 County Attorney 450,000 5,960,799 2,215,414 3,745,385 Emergency Management 307,452 29,886 14,096 15,790 Non Departmental 6,687,480 3,452,194 3,155,514 296,680 Public Defense Services 3,930,335 6,083,010 2,573,809 3,509,201 Public Fiduciary 3,673,750 3,677,663 1,381,481 2,296,182 15,049,017 19,203,552 9,340,314 9,863,238 1,522,664 2,305,326 1,334,058 971,268 950,401 469,511 185,984 283,527 Human Services 77,089,068 102,979,139 82,187,859 20,791,280 Medical Examiner 18,932,274 16,277,183 13,059,920 3,217,263 Non Departmental 10,488,794 9,669,630 8,204,916 1,464,714 Procurement Services Total General Government Public Safety Adult Probation Superior Court Total Public Safety Health, Welfare, and Sanitation Animal Care and Control Correctional Health Public Health Total health, welfare and sanitation 49,628,076 40,971,107 23,451,915 17,519,192 158,611,277 172,671,896 128,424,652 44,247,244 13,128,189 24,622,808 11,780,330 12,842,478 Culture and Recreation Parks and Recreation 259,188,886 177,695,706 81,493,180 (14,908,580) 5,602,735 20,511,315 (3,000,000) (3,000,000) (3,000,000) (3,000,000) (3,000,000) (3,000,000) (3,000,000) (17,908,580) 2,602,735 20,673,280 20,673,280 Fund balance, July 1, 2024 $ 17,673,280 $ 2,764,700 Fund balance, June 30, 2025 The notes to the budgetary comparison schedules are an integral part of this schedule 18,205,917 Total Expenditures 214,763,487 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers out Total other financing uses Net Change in fund balance 106 $ 20,808,652 20,511,315 (2,467,363) $ 18,043,952 Maricopa County Required Supplementary Information Budgetary Comparison Schedule Detention Operations Fund Year Ended June 30, 2025 Variance With Final Budget Budgeted Amounts Original Final Actual Positive Amounts (Negative) REVENUES Taxes $ Intergovernmental Charges for services 277,291,784 $ 277,291,784 $ 7,288,351 2,400 (1,872) 24,864,899 24,864,899 26,329,887 1,464,988 8,627 8,627 750,000 750,000 9,020,386 587,868 8,270,386 587,868 302,910,955 302,910,955 320,529,303 17,618,348 2,288,933 Miscellaneous Total revenues $ 4,272 Fines & Forfeits Interest income 284,580,135 4,272 EXPENDITURES Public safety Adult Probation 51,654,964 52,882,010 50,593,077 Emergency Management 56,549 56,549 56,549 Enterprise Technology 1,808,065 1,844,504 1,333,101 Equipment Services 2,356,704 3,203,488 2,900,570 302,918 Facilities Management 33,936,978 35,663,970 28,696,037 6,967,933 Integrated Criminal Justice Information Juvenile Probation 3,977,080 4,005,093 3,482,411 522,682 42,469,895 43,495,228 43,366,945 128,283 Non Departmental 23,124,014 11,616,745 100,875 11,515,870 Sheriff 278,511,933 283,776,246 283,151,740 624,506 437,896,182 436,543,833 413,681,305 22,862,528 86,772,607 88,113,561 82,875,940 5,237,621 344,014 355,409 326,674 28,735 Total expenditures 525,012,803 525,012,803 496,883,919 28,128,884 Deficiency of revenues under expenditures (222,101,848) (222,101,848) (176,354,616) 45,747,232 OTHER FINANCING SOURCES (USES) Transfers in 229,701,431 229,701,431 229,701,431 Transfers out (61,431,104) (61,431,104) (60,116,775) 3,800,548 1,314,329 3,800,548 168,270,327 168,270,327 173,385,204 5,114,877 (53,831,521) (53,831,521) (2,969,412) 50,862,109 81,694,396 81,694,396 101,072,844 19,378,448 Total public safety 511,403 Health, welfare, and sanitation Correctional health Education County School Superintendent Financed Purchase Agreements Total other financing sources (uses) Net change in fund balances Fund balance, July 1, 2024 Change in nonspendable resources: Decrease in inventories Fund balance, June 30, 2025 $ 27,862,875 $ 27,862,875 The notes to the budgetary comparison schedules are an integral part of this schedule 107 $ (1,207,399) 96,896,033 $ (1,207,399) 69,033,158 Maricopa County Required Supplementary Information Budgetary Comparison Schedule Opioid Abatement Fund Year Ended June 30, 2025 Variance With Final Budget Budgeted Amounts Original Final Actual Positive Amounts (Negative) REVENUES Intergovernmental $ 11,550,000 $ Settlement revenue Interest income Total revenues $ $ 115,875 11,550,000 115,875 13,367,880 1,563,538 1,817,880 1,447,663 11,665,875 11,665,875 14,931,418 3,265,543 11,665,875 11,665,875 7,189,205 4,476,670 11,665,875 11,665,875 7,189,205 4,476,670 11,665,875 11,665,875 7,189,205 4,476,670 7,742,213 7,742,213 7,742,213 27,243,498 34,985,711 7,742,213 13,738,416 21,480,629 EXPENDITURES Health, welfare, and sanitation Non Departmental Public Health Total health, welfare, and sanitation Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 13,505,082 13,505,082 $ 13,505,082 13,505,082 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, 2025 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, Street Lighting District, and the Special Improvement Districts funds. In accordance with GASB Statement No. 34, budgetary comparison schedules should be presented in the required supplementary information for only the General Fund and for each major Special Revenue Fund. Formal budget integration is not employed for the Internal Service Funds because effective budgetary control is alternatively achieved through capability of cost recovery. Budgeted amounts are reported as originally adopted and as amended by authorization from the Board of Supervisors. All budget adjustments with the exception of the Judicial Branch, which includes Adult Probation, Justice Courts, Juvenile Probation and Superior Court, require authorization from the Board of Supervisors. The Judicial Branch appropriations can be moved between the Judicial Branch departments by fund, as requested and approved by the Presiding Judge, without further Board approval. Budgeted appropriations include expenditures and transfers out. Expenditures and transfers out may not legally exceed appropriations at the department level. With the exception of the General Fund, Coronavirus Fiscal Recovery Fund, and the Detention Operations Fund, each fund includes only one department. NOTE 2 – Budgetary Basis of Accounting The County’s budget is prepared on a basis consistent with generally accepted accounting principles, except for the following unbudgeted item:   Present value of 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: Excess (deficiency) 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 (deficiency) of revenues over expenditure from the budgetary comparison schedules 109 General Fund $ 511,010,716 (15,804,480) (10,173,619) $ 536,988,815 Detention Operations Fund $(183,676,623) $ (7,322,007) $(176,354,616) Maricopa County Required Supplementary Information Schedule of the County’s Proportionate Share of Net Pension Liability Cost-Sharing Plans June 30, 2025 Arizona State Retirement System 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 Reporting fiscal year (measurement date) 2023 (2022) 2025 (2024) 2024 (2023) 2022 (2021) 2021 (2020) 5.1% $814,338,996 5.0% $813,999,493 4.9% $792,447,087 5.0% $661,793,454 $859,913,468 709,077,156 114.8% $657,265,286 123.8% $576,129,027 137.5% $ 564,459,191 117.2% $541,868,155 158.7% 76.9% 75.5% 74.3% 78.6% 69.3% 5.0% Corrections Officer Retirement Plan—Administrative Office of the Courts 2024 (2023) 2025 (2024) 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 Reporting fiscal year (measurement date) 2023 (2022) 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) 59.8% 257,885,107 60.4% $272,902,995 59.5% $265,556,033 59.4% $220,624,900 60.2% $287,527,851 $81,093,040 318.0% $76,270,536 357.8% $69,847,482 380.2% $ 69,971,380 315.3% $71,975,534 399.5% 63.1% 59.3% 57.5% 62.5% 50.1% Elected Officials Retirement Plan Reporting fiscal year (measurement date) 2025 2024 2023 (2024) (2023) (2022) 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 2022 (2021) 2022 (2021) 2021 (2020) 25.9% 154,519,352 14.3% $89,417,670 26.1% $176,018,707 26.6% $162,072,424 31.0% $209,046,481 10,662,737 47,200,717 15,617,827 16,290,912 19,868,205 165,182,089 $136,618,387 $191,636,534 $178,363,336 $228,914,686 23,916,526 690.7% $22,055,983 619.4% $20,793,225 921.6% $20,745,477 859.8% $24,148,819 947.9% 42.2% 38.6% 32.0% 36.3% 29.8% 110 Maricopa County Required Supplementary Information Schedule of the County’s Proportionate Share of Net Pension Liability Cost-Sharing Plans (Continued) June 30, 2025 Arizona State Retirement System 2020 (2019) 2019 (2018) Reporting fiscal year (measurement date) 2018 (2017) 2017 (2016) County's proportion of the net pension liability 5.1% 4.9% 5.0% 5.1% County’s proportionate share of the net $740,981,614 $687,946,426 $772,309,903 $825,659,181 pension liability County’s covered payroll $515,839,976 $497,392,855 $484,648,435 $477,764,920 County’s proportionate share of the net 143.6% 138.3% 159.4% 172.8% pension liability as a percentage of its covered payroll Plan fiduciary net position as a percentage of 73.2% 73.4% 69.9% 67.1% 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 2016 (2015) 5.2% $809,331,280 $479,712,628 168.7% 68.4% 2020 (2019) 2019 (2018) Reporting fiscal year (measurement date) 2018 (2017) 60.3% $254,496,651 58.9% $212,174,173 58.6% $235,278,988 58.5% $165,172,262 57.3% $139,409,566 $71,052,917 358.2% $70,273,305 301.9% $67,273,479 349.7% $66,943,949 246.7% $65,257,263 213.6% 52.0% 53.7% 49.2% 54.8% 57.9% Elected Officials Retirement Plan Reporting fiscal year (measurement date) 2020 2019 2018 (2019) (2018) (2017) 2017 (2016) 2016 (2015) 2017 (2016) 2016 (2015) County's proportion of the net pension liability 36.3% 26.1% 29.2% 32.1% 28.7% County’s proportionate share of the net pension liability State’s proportionate share of the net pension liability associated with the County Total $240,825,637 $164,732,203 $355,290,457 $303,669,813 $224,240,437 22,635,120 28,225,796 115,022,979 62,699,965 69,908,836 $263,460,757 $192,957,999 $470,313,436 $366,369,778 $294,149,273 $32,728,218 805.0% $31,666,783 609.3% $27,453,840 1,713.1% $27,158,658 1,349.0% $26,294,214 1,119.0% 30.1% 30.4% 19.7% 23.4% 28.3% 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 111 Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net Pension Liability and Related Ratios Agent Plans June 30, 2025 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) 2025 (2024) 2024 (2023) Reporting fiscal year (measurement date) 2023 (2022) $11,487,131 54,536,507 $10,497,799 50,945,068 2,340,632 2022 (2021) 2021 (2020) $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 (45,527,431) (38,927,945) 7,252,576 (40,045,251) (31,813,158) (30,127,457) 22,836,839 768,728,075 $ 791,564,914 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 $ 132,246,043 4,532,058 67,245,053 (45,527,431) $ 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) $ (290,006) 10,983 158,216,700 576,823,251 735,039,951 (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 $ 56,524,963 $ 191,904,824 $ 336,976,208 $ 329,497,474 $ 384,798,340 92.9% 75.0% 53.0% 51.8% 41.5% 55,120,415 $55,359,714 102.5% 346.7% 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 $ 51,125,113 $ 51,127,839 659.1% Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense $ 138,271 980,533 $ $ 101,850 930,969 $ 51,773,513 644.5% PSPRS Attorney Investigators Reporting fiscal year (Measurement Date) 2024 2023 2025 (2023) (2022) (2024) 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) 32,110,823 5,317,986 3,366,838 (30,127,457) 122,220 878,051 743.2% 2022 (2021) $ 2021 (2020) 147,509 903,873 $ 162,734 908,177 (288,893) 743,465 1,081,605 (171,625) (103,230) (1,113,546) (1,135,098) 164,119 (1,512,078) (904,330) (1,118,476) (283,635) 14,037,014 $13,753,379 641,186 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 $886,856 56,030 1,211,789 (1,113,546) $552,992 58,750 873,765 (1,135,098) (7,642) (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) Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net Pension Liability and Related Ratios Agent Plans (Continued) June 30, 2025 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) $ 13,413,866 42,374,413 $ 11,345,423 40,107,324 9,575,440 28,743 $ 13,198,618 36,942,782 4,589,857 6,359,832 10,594,310 (28,677,092) (28,495,519) 17,345,618 (27,683,840) 17,688,642 (26,854,711) (24,192,292) 47,280,937 573,551,881 $ 620,832,818 22,985,971 550,565,910 $573,551,881 50,752,867 499,813,043 $550,565,910 44,837,134 454,975,909 $499,813,043 31,263,469 423,712,440 $454,975,909 $ 31,940,779 5,603,052 13,212,001 (28,677,092) $ 20,021,150 5,345,050 15,616,477 (28,495,519) $ 25,052,855 6,587,195 23,760,529 (27,683,840) $ 25,751,005 6,635,173 1,146,484 (26,854,711) $ 19,300,393 5,718,569 6,829,419 (24,192,292) (230,325) 131,094 21,979,509 240,136,989 $ 262,116,498 (238,381) 123,309 12,372,086 227,766,687 $240,138,773 (210,641) 109,523 27,615,621 200,151,066 $227,766,687 (165,373) 65,796 6,578,374 193,572,692 $200,151,066 (166,999) 60,926 7,550,016 186,022,676 $193,572,692 $ 358,716,320 $333,413,108 $322,799,223 $299,661,977 $261,403,217 42.2% 41.9% 41.4% 40.1% 42.6% $ 53,880,062 $ 52,850,657 $ 55,883,688 $ 53,433,053 $ 50,323,844 665.8% 630.9% 577.6% 560.8% 2019 (2018) 2020 (2019) 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 $ 10,803,287 35,085,590 20,847,023 (12,732,697) 2019 (2018) County’s net pension liability as a percentage of covered payroll 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 2017 (2016) 2020 (2019) Plan fiduciary net position as a percentage of the total pension liability Covered payroll PSPRS Sheriff Reporting fiscal year (measurement date) 2018 (2017) $ 385,172 902,532 $ 14,238,261 519.4% PSPRS Attorney Investigators Reporting fiscal year (Measurement Date) 2018 2017 (2017) (2016) 237,953 864,487 $ 5,143 95,767 (873,347) (845,968) 670,559 (993,510) 344,143 (815,133) (904,489) 589,397 12,247,882 $ 12,837,279 261,615 11,986,267 $ 12,247,882 651,876 11,334,391 11,986,267 261,138 11,073,253 11,334,391 (121,801) 11,195,054 11,073,253 $ 1,667,991 226,878 447,760 (873,347) $ 1,124,841 126,880 486,062 (845,968) (8,782) (8,098) $ $ 266,004 847,697 (118,749) (262,824) 2016 (2015) 79,273 $ $ 8,569,277 32,648,223 248,675 822,148 (23,853) (72,143) 113 $ 2016 (2015) $ 253,874 853,275 (324,461) $ 1,461,247 145,186 686,868 (993,510) 1,398,933 217,009 29,781 (815,133) 1,077,456 147,013 162,028 (904,489) (6,478) (4,685) (4,332) Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net Pension Liability and Related Ratios Agent Plans (Continued) June 30, 2025 PSPRS Attorney Investigators (continued) Reporting fiscal year (Measurement Date) 2025 (2024) 2024 (2023) Other changes Net change in plan fiduciary net position Plan fiduciary net position—beginning Plan fiduciary net position—ending (b) 1,033,487 11,975,353 $ 13,008,840 344,535 11,630,818 $11,975,353 County’s net pension liability (asset)—ending (a) – (b) $ 744,539 $ 2,061,661 94.6% 85.3% 4,941,177 $ 4,872,826 15.1% 42.3% 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 $ 2023 (2022) 2022 (2021) $ (1,091,940) 12,722,758 11,630,818 $ 3,052,631 9,670,127 12,722,758 $ 2021 (2020) (46,523) 397,904 9,272,223 9,670,127 $ 1,765,010 $ (60,847) $ 3,016,357 86.8% $ 3,998,660 100.5% $ 44.1% 4,079,047 76.2% $ -1.5% 4,041,539 74.6% CORP Detention 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) 2025 (2024) 2024 (2023) $ 10,306,375 53,962,633 $ 11,089,962 50,777,429 12,134,577 Reporting fiscal year (Measurement date) 2023 (2022) $ 2022 (2021) 2021 (2020) 12,296,461 47,691,387 $ 13,287,468 45,696,336 $ 14,214,045 14,492,259 (2,656,331) 26,630,427 (31,310,211) (30,807,577) 8,596,721 (29,062,286) (26,951,740) (24,062,285) 45,093,374 754,829,748 $ 799,923,122 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 $ 13,394,907 41,607,029 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) $ 130,113,879 6,730,610 66,336,224 (31,310,211) $ 139,587,099 6,875,908 38,397,331 (30,807,577) $ 38,595,842 7,408,812 (15,108,809) (29,062,286) $ 29,396,714 7,487,182 84,644,735 (26,951,740) (612,941) (35,189) 171,222,372 557,662,435 $ 728,884,807 (547,214) (478,750) 153,026,797 404,635,638 $ 557,662,435 (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 $ (306,335) (190,683) 16,268,228 292,987,810 309,256,038 County’s net pension liability—ending (a) – (b) $ 71,038,315 $ 197,167,313 $ 304,920,251 $ 252,377,922 $ 316,909,576 91.1% 73.9% 57.0% 61.5% $ 97,490,774 $ 98,368,264 $ 100,538,722 $ 102,944,404 72.9% 200.4% 303.3% 245.2% 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 114 $ 24,898,466 8,014,183 7,914,882 (24,062,285) 49.4% $ 99,862,066 317.3% Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net Pension Liability and Related Ratios Agent Plans (Continued) June 30, 2025 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) $ 2020 (2019) 58,955 1,519,455 7,752,768 9,272,223 County’s net pension liability (asset)—ending (a) – (b) $ 3,565,056 Plan fiduciary net position as a percentage of the total pension liability Covered payroll 72.2% $ County’s net pension liability as a percentage of covered payroll 4,029,625 2019 (2018) $ 90 883,807 6,869,957 7,753,764 $ 4,494,118 2018 (2017) $ 77 1,293,390 5,576,567 6,869,957 $ 5,116,310 63.3% $ $ 32 825,937 4,750,630 5,576,567 $ 2016 (2015) (3,641) 474,035 4,276,595 4,750,630 $ 5,757,824 $ 6,322,623 57.3% 3,798,904 88.5% 2017 (2016) $ 118.3% 3,636,066 49.2% $ 140.7% 3,893,987 42.9% $ 147.9% 3,247,944 194.7% CORP Detention 2019 (2018) 2020 (2019) Total pension liability Service cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience in the measurement of the pension liability Changes of assumptions or other inputs Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability—beginning Total pension liability—ending (a) Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net change in plan fiduciary net position Plan fiduciary net position—beginning Plan fiduciary net position—ending (b) County’s net pension liability—ending (a) – (b) $ $ $ County’s net pension liability as a percentage of covered payroll 14,587,736 (22,632,403) (23,239,350) 9,430,261 (20,850,551) 16,921,282 (21,008,081) (16,370,870) 66,286,394 502,309,142 568,595,536 (5,480,354) 507,789,496 502,309,142 100,952,380 406,837,116 507,789,496 28,999,614 377,837,502 406,837,116 22,153,150 355,684,352 377,837,502 $ $ 275,467,410 $ $ $ (269,599) (177,534) 20,598,735 246,921,194 267,519,929 $ 234,789,213 51.6% $ 92,198,723 298.8% 115 18,023,723 8,487,865 17,773,630 (23,239,350) $ $ $ 104,307,731 225.1% 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% $ 15,050,195 30,295,270 71,546,493 (4,519,288) $ 2016 (2015) 21,019,595 25,575,779 8,168,768 14,832,150 (22,632,403) $ 2017 (2016) 16,078,305 37,311,464 (28,640,732) (6,990,041) (265,412) (70,685) 25,608,197 267,519,929 293,128,126 Plan fiduciary net position as a percentage of the total pension liability Covered payroll 15,808,183 37,503,283 Reporting fiscal year (Measurement date) 2018 (2017) $ $ 106,256,020 245.5% 15,892,539 8,277,119 1,315,283 (21,008,081) $ 14,287,455 27,839,448 (3,602,883) $ $ 12,465,970 8,470,324 7,511,442 (16,370,870) $ (186,382) (95,749) 4,194,729 213,591,979 217,786,708 $ (185,964) (101,256) 11,789,646 201,802,333 213,591,979 $ 189,050,408 $ 164,245,523 48.6% $ 14,204,315 29,393,196 1,084,506 (11,595,604) 56.5% 53.5% $ 105,470,072 179.2% $ 104,462,671 157.2% Maricopa County Required Supplementary Information Schedule of County Pension Contributions June 30, 2025 Reporting fiscal year 2025 Arizona State Retirement System Statutorily required contribution County’s contributions in relation to the statutorily required contribution County’s contribution deficiency (excess) $ 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) PSPRS Sheriff 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 69,406,359 69,406,359 $ $ 564,459,191 12.1% 12.0% 12.0% 12.0% 11.7% 34,116,419 34,116,419 $ 32,070,495 32,070,495 $ 13,919,604 13,919,604 $ $ 81,093,040 39.5% $ 28,010,281 28,010,281 16,780,777 16,780,777 $ $ $ 76,270,536 36.7% $ 14,453,145 14,453,145 $ 23,916,526 70.2% 24,781,102 24,781,102 $ $ 11,698,854 11,698,854 $ 22,055,983 65.5% 69,971,380 33.4% $ 20,745,477 57.1% 40,233,668 132,233,668 $ 42,463,746 192,463,746 $ 35,515,494 75,515,494 $ $ (35,560,000) $ (92,000,000) $ (150,000,000) $ (40,000,000) $ 55,120,415 239.9% 55,359,714 347.7% 1,178,468 1,178,468 $ 913,903 913,903 $ $ 5,323,798 22.1% $ 573,138 573,138 $ 4,941,177 18.5% 51,125,113 147.7% $ 881,544 881,544 $ 4,872,826 11.8% $ 4,079,047 28.7% $ 32,173,747 130,173,747 $ 29,717,777 139,717,777 $ 28,694,520 38,694,520 $ $ (50,000,000) $ (98,000,000) $ (110,000,000) $ (10,000,000) $ 97,490,774 133.5% 98,368,264 142.0% 116 1,169,393 1,169,393 $ 3,998,660 22.0% 22,987,745 72,987,745 See accompanying notes to the pension plan schedules 32,428,673 32,428,673 51,127,839 63.4% $ 98,372,860 74.2% 11,847,708 11,847,708 $ 20,793,225 56.3% $ 58,109,252 105.4% 23,387,516 23,387,516 $ 69,847,482 35.5% 25,674,365 61,234,365 $ 65,899,776 65,899,776 $ $ 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) $ $ 576,129,027 25,498,762 54.6% 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 78,849,856 657,265,286 $ County’s covered payroll County’s contributions as a percentage of covered payroll $ 2021 709,077,156 86,476,029 39.5% $ 85,268,126 85,268,126 2022 746,751,458 $ County’s covered payroll County’s contributions as a percentage of covered payroll $ 2023 $ $ 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) 90,249,443 90,249,443 2024 100,538,722 38.5% 29,517,195 29,517,195 102,944,404 28.7% Maricopa County Required Supplementary Information Schedule of County Pension Contributions (Continued) June 30, 2025 Reporting fiscal year 2020 Arizona State Retirement System Statutorily required contribution County’s contributions in relation to the statutorily required contribution County’s contribution deficiency (excess) $ $ PSPRS Attorney Investigators Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) CORP Detention Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) County’s covered payroll County’s contributions as a percentage of covered payroll 51,696,840 52,137,019 52,884,110 $ 51,696,840 $ 477,764,920 11.5% 11.2% 10.6% 10.8% 10.8% 22,028,084 $ 22,666,439 $ 22,666,439 $ 15,669,281 $ 15,669,281 $ 13,204,078 $ 13,204,078 $ 12,319,262 12,319,262 $ 71,975,534 71,052,917 70,273,305 67,273,479 66,943,949 30.6% 31.9% 22.3% 19.6% 18.4% 14,032,510 $ 16,310,970 $ 6,542,613 $ $ 6,542,613 $ 6,159,790 $ 6,159,790 16,310,970 $ 6,065,753 6,065,753 $ 24,148,819 32,728,218 31,666,783 27,453,840 27,158,658 58.1% 49.8% 0.0% 22.4% 22.3% 32,315,977 $ 30,654,710 $ 28,038,980 $ $ 20,277,318 7,761,662 $ 30,654,710 $ 25,010,275 $ 25,010,275 25,739,331 25,739,331 $ 51,773,513 53,880,062 52,850,657 55,883,688 53,433,053 62.4% 56.9% 38.4% 44.8% 48.2% 1,377,237 $ 1,622,619 1,377,237 $ $ 484,648,435 $ County’s covered payroll County’s contributions as a percentage of covered payroll 52,137,019 497,392,855 32,315,977 $ $ 2016 515,839,976 $ County’s covered payroll County’s contributions as a percentage of covered payroll 52,884,110 $ 14,032,510 $ 2017 541,868,155 $ County’s covered payroll County’s contributions as a percentage of covered payroll $ 57,600,648 $ $ $ 2018 57,600,648 22,028,084 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) $ 62,456,719 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) 62,459,719 $ 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) 2019 $ 1,223,363 $ $ 1,104,357 119,006 $ 1,622,619 $ 1,461,227 $ 1,461,227 1,399,472 1,399,472 $ 4,041,539 4,029,625 3,798,904 3,636,066 3,893,987 34.1% 40.3% 29.1% 40.2% 35.9% 25,084,557 $ 24,700,209 25,084,557 $ $ 24,700,209 $ 18,380,097 $ 18,380,097 $ 16,132,787 $ 16,132,787 $ 15,896,136 15,896,136 $ 99,862,066 92,198,723 104,307,731 106,256,020 105,470,072 25.1% 26.8% 17.6% 15.2% 15.1% 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, 2025 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) 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 2022 (2021) 5.1% $(24,833,681) 2021 (2020) 5.0% $(3,555,865) $709,077,156 -4.4% $657,265,286 -4.2% $576,129,027 -4.8% $564,459,191 -4.4% $541,868,155 -0.7% 137.5% 134.4% 137.8% 130.2% 104.3% Arizona State Retirement System Reporting fiscal year (Measurement date) 2024 2023 2025 (2023) (2022) (2024) Long Term Disability Health Insurance Premium Benefit Arizona State Retirement System Reporting fiscal year (Measurement date) 2024 2023 2025 (2023) (2022) (2024) 5.2% 5.1% 4.9% $(31,242,285) $(27,532,025) $(27,462,651) 2022 (2021) 2021 (2020) 5.1% $133,528 5.1% $662,626 4.9% $450,464 5.1% $1,045,980 5.0% $3,787,937 $709,077,156 0.0% $657,265,286 0.1% $576,129,027 0.1% $564,459,191 0.2% $541,868,155 0.7% 98.8% 93.70% 95.4% 90.4% 68.0% Corrections Officer Retirement Plan—Administrative Office of the Courts Reporting fiscal year (Measurement date) 2025 (2024) 2024 (2023) 2023 (2022) County's proportion of the net OPEB (asset) County’s proportionate share of the net OPEB (asset) 62.0% $(688,529) 61.4% $ (255,589) 59.7% $225,458 59.8% $(80,050) 60.1% $2,366,417 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) $81,093,040 -0.8% $76,270,536 -0.3% $69,847,482 0.3% $69,971,380 -0.1% $71,975,534 3.3% 107.0% 102.8% 97.5% 100.9% 75.1% 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) 2022 (2021) 2021 (2020) Elected Officials Retirement Plan Reporting fiscal year (Measurement date) 2025 (2024) 2024 (2023) 28.1% $(4,223,813) 27.5% $(3,686,082) 23,916,526 -17.7% 213.0% 118 2023 (2022) 2022 (2021) 2021 (2020) 27.2% $(3,496,249) 27.7% $(4,412,052) 27.2% $(2,596,295) 22,055,983 -16.7% 20,793,225 -16.8% 20,745,477 -21.3% 24,148,819 -10.8% 199.8% 198.4% 231.3% 169.9% Maricopa County Required Supplementary Information Schedule of the County’s Proportionate Share of Net OPEB Liability (Asset) Cost-Sharing Plans (Continued) June 30, 2025 County's proportion of the net OPEB (asset) County’s proportionate share of the net OPEB (asset) 5.1% $(1,418,008) Arizona State Retirement System Reporting fiscal year (Measurement date) 2019 2018 2017 (2018) (2017) (2016) 4.9% 5.0% Information not $(1,784,004) $(2,706,073) available County’s covered payroll County’s proportionate share of the net OPEB (asset) as a percentage of its covered payroll $515,839,976 -0.3% $497,392,855 -0.4% $484,648,435 -0.6% Plan fiduciary net position as a percentage of the total OPEB (asset) 101.6% 102.0% 104.0% Health Insurance Premium Benefit 2020 (2019) Arizona State Retirement System Reporting fiscal year (Measurement date) 2019 2018 (2018) (2017) Long Term Disability 2020 (2019) County's proportion of the net OPEB liability County’s proportionate share of the net OPEB liability 5.1% $3,326,276 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 $515,839,976 0.6% $497,392,855 0.5% $484,648,435 0.4% Plan fiduciary net position as a percentage of the total OPEB liability 72.9% 78.0% 84.4% 2016 (2015) Information not available 2017 (2016) 2016 (2015) 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) 2020 (2019) 2018 (2017) County's proportion of the net OPEB (asset) County’s proportionate share of the net OPEB (asset) 60.4% $2,237,439 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 $71,052,917 3.1% $70,273,305 4.3% $67,273,479 5.1% Plan fiduciary net position as a percentage of the total OPEB (asset) 75.6% 67.8% 62.2% Elected Officials Retirement Plan Health Insurance Premium Benefit 2017 (2016) 2016 (2015) Information not available Information not available 2017 (2016) 2016 (2015) Information not available Information not available Elected Officials Retirement Plan Reporting fiscal year (Measurement date) 2020 (2019) 2019 (2018) 2018 (2017) County's proportion of the net OPEB (asset) County’s proportionate share of the net OPEB (asset) 26.3% $(2,580,436) 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 $32,728,218 -7.9% $31,666,783 -8.7% $27,453,840 -8.7% Plan fiduciary net position as a percentage of the total OPEB (asset) 169.7% 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, 2025 PSPRS Sheriff Reporting fiscal year 2024 2025 (2023) (2024) Health Insurance Premium Benefit Total OPEB liability (asset) Service cost Interest on the total OPEB liability (asset) Changes of benefit terms Differences between expected and actual experience in the measurement of the OPEB liability (asset) $ Changes of assumptions or other inputs Benefit payments, including refunds of employee contributions Net change in total OPEB liability (asset) Total OPEB liability (asset)—beginning Total OPEB liability (asset)—ending (a) Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense 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) $ $ 243,944 612,792 $ $ $ 263,604 651,631 (943,526) (555,985) (416,844) (390,993) 160,898 (356,146) (343,513) (370,022) (267,779) 8,881,453 8,613,674 318,659 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 84,868 1,764,762 (416,844) 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) (6,858) (7,700) (12,273) (15,799) (14,494) 1,425,928 17,433,365 929,869 16,503,496 (1,002,875) 17,506,371 3,522,600 13,983,771 (181,882) 14,165,653 18,859,293 17,433,365 16,503,496 17,506,371 13,983,771 (9,177,830) $ (5,267,316) 210.2% 160.4% $ 55,120,415 (8,551,912) $ 196.3% $ 55,359,714 (7,940,702) $ 192.7% $ -15.4% 51,125,113 $ -15.5% 3,718 15,916 $ 3,256 11,090 $ 3,633 12,394 51,127,839 $ -18.0% PSPRS Attorney Investigators Reporting fiscal year (Measurement Date) 2024 2023 2025 (2023) (2022) (2024) $ 256,628 642,497 (427,235) -18.6% 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 2021 (2020) (111,644) 219.0% 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) $ 2022 (2021) (686,117) $ (10,245,619) Plan fiduciary net position as a percentage of the total OPEB liability (asset) Covered payroll 196,571 638,611 (Measurement date) 2023 (2022) -10.2% 2022 (2021) $ 4,704 16,121 51,773,513 2021 (2020) $ 5,256 16,463 (18,809) 65,610 (20,871) (59,285) (10,233) (13,123) (13,643) 2,174 (11,790) (11,234) (13,915) (12,298) 223,902 211,604 66,313 157,589 223,902 (14,460) 172,049 157,589 (49,694) 221,743 172,049 (2,429) 224,172 221,743 $ $ $ $ $ $ $ $ $ 1,186 1,524 31,202 (13,123) 22,747 (13,643) (12,816) (11,790) 72,298 (11,234) 3,419 (13,915) (176) (162) (228) (297) (278) 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, 2025 PSPRS Sheriff Reporting fiscal year (Measurement date) 2018 (2017) Health Insurance Premium Benefit 2019 (2018) 2020 (2019) 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) (2,057,940) (308,723) 203,633 757,348 39,752 (506,183) 75,429 (394,040) (418,196) (308,611) (394,962) (1,440,029) 10,167,256 8,727,227 182,644 9,984,612 10,167,256 (209,023) 10,193,635 9,984,612 5,848 5,848 740,112 (394,040) 1,783 919,060 (418,196) 1,429,164 (394,962) 185,032 751,490 $ (12,775) 344,993 13,818,876 1,784 14,165,653 $ (5,438,426) $ 179,532 730,031 (13,988) (1) 488,658 13,330,218 1,021,557 12,308,661 13,818,876 13,330,218 Covered payroll $53,880,062 County’s net OPEB liability (asset) as a percentage of covered payroll -10.1% Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense $ $ $ 55,883,688 -6.0% PSPRS Attorney Investigators Reporting fiscal year (Measurement Date) 2018 2017 (2017) (2016) 2019 (2018) 5,536 16,634 $ -6.9% 2020 (2019) (3,345,606) 133.5% 52,850,657 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) $ 135.9% $ 5,741 15,848 (10,992) (2,199) 5,224 14,545 7,859 1,348 (306) (11,908) (10,941) 2,096 (11,263) (1,036) 225,208 224,172 $ 8,449 216,759 225,208 $ 19,809 196,950 216,759 $ 1,665 $ 637 $ 1,735 $ 14,422 (11,908) 18,039 (10,941) 28,292 (11,263) (249) (275) (251) 121 2016 (2015) Information not available (12,645) (3,651,620) 162.3% Plan fiduciary net position as a percentage of the total OPEB liability (asset) $ 2017 (2016) Information not available Information not available 2016 (2015) 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, 2025 PSPRS Attorney Investigators (continued) Reporting fiscal year (Measurement Date) 2025 (2024) 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)– $ 2024 (2023) 2023 (2022) 2022 (2021) 2021 (2020) 17,903 312,077 8,942 303,135 (24,834) 327,969 61,953 266,016 (9,250) 275,266 329,980 312,077 303,135 327,969 266,016 (118,376) $ (88,175) $ (145,546) $ (155,920) $ (44,273) (b) Plan fiduciary net position as a percentage of the total OPEB liability (asset) Covered payroll 139.4% 155.9% $ County’s net OPEB liability (asset) as a percentage of covered payroll 4,941,177 $ 4,872,826 192.4% $ -1.8% -2.4% 3,998,660 190.6% $ -3.6% 4,079,047 120.0% $ 4,041,539 -3.8% -1.1% CORP Detention Health Insurance Premium Benefit 2024 (2023) 2025 (2024) 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 Plan fiduciary net position—ending (b) $ $ 189,165 860,136 224,700 820,808 $ 243,057 831,418 $ 278,738 788,668 (191,102) (840,089) (110,824) (424,515) (424,073) 156,759 (368,406) (354,349) (316,218) 245,235 11,969,428 12,214,663 123,220 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 $ $ $ $ $ $ $ $ 2,269,200 (424,515) 1,621,605 (424,073) (829,910) (368,406) 4,818,560 (354,349) 495,897 (316,218) (19,947) (22,763) (14,908) (19,833) (19,192) 1,824,738 22,363,056 24,187,794 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 $ (11,973,131) Plan fiduciary net position as a percentage of the total OPEB liability (asset) 198.0% County’s net OPEB liability (asset) as a percentage of covered payroll $ 2021 (2020) (509,021) $ $ 203,968 852,346 2022 (2021) (379,551) County’s net OPEB liability (asset)—ending (a)–(b) Covered payroll $ Reporting fiscal year (Measurement date) 2023 (2022) 97,490,774 $ (10,393,628) $ 186.8% $ -12.3% 98,368,264 -10.6% 122 (9,342,079) $ 178.9% $ 100,538,722 -9.3% (11,198,062) $ 200.0% $ 102,944,404 -10.9% (6,633,721) 158.6% $ 99,862,066 -6.6% Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net OPEB Liability (Asset) and Related Ratios Agent Plans (Continued) June 30, 2025 PSPRS Attorney Investigators (continued) Reporting fiscal year (Measurement Date) 2019 (2018) 2020 (2019) 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) 3,930 270,341 995 275,266 $ (51,094) Plan fiduciary net position as a percentage of the total OPEB liability (asset) Covered payroll $ 4,029,625 County’s net OPEB liability (asset) as a percentage of covered payroll 7,460 262,881 18,513 244,368 270,341 262,881 (45,133) $ 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 $ 280,318 906,839 162,454 (282,391) (294,249) (1,736,587) (280,215) (752,327) 11,435,375 10,683,048 $ 589,050 10,846,325 11,435,375 $ (1,244,812) 12,091,137 10,846,325 $ 19,113 $ 19,464 930,067 (282,391) 1,167,804 (294,249) 1,746,674 (280,215) (16,598) (17,668) 1 875,001 16,290,567 17,165,568 (15,278) $ 166.6% $ $ (415,167) (7,113,598) 92,198,723 -7.7% 123 $ (5,730,193) Information not available 2017 (2016) 2016 (2015) Information not available Information not available -1.3% (133,617) 631,078 17,165,568 17,796,646 $ 217,141 799,775 Information not available 3,636,066 (1,690,768) $ Plan fiduciary net position as a percentage of the total OPEB liability (asset) Covered payroll 207,271 851,107 2016 (2015) (46,122) CORP Detention Reporting fiscal year (Measurement date) 2018 (2017) 2019 (2018) 2020 (2019) $ $ -1.2% -1.3% 2017 (2016) 121.3% 3,798,904 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) $ 120.0% 122.8% $ 2018 (2017) 1,470,645 14,819,922 16,290,567 $ (5,444,242) 150.1% 150.2% 104,307,731 $ 106,256,020 -5.5% -5.1% Maricopa County Required Supplementary Information Schedule of County OPEB Contributions June 30, 2025 Reporting fiscal year 2025 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 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) 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 519,217 $ 519,217 County’s contributions as a percentage of 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) 2024 772,064 746,751,458 1,112,854 $ $ 2022 720,234 709,077,156 1,054,077 $ $ 2021 1,200,513 657,265,286 911,366 $ $ 2,178,142 2,178,142 $ 576,129,027 $ 0.2% 911,366 $ $ 1,200,513 $ 0.1% 1,054,077 $ $ 720,234 $ 0.1% 1,112,854 $ $ 772,064 $ 0.1% $ 2023 1,086,401 0.4% $ 1,086,401 $ 564,459,191 1,004,892 1,004,892 $ $ 746,751,458 0.1% $ 709,077,156 0.1% $ 657,265,286 0.1% $ 576,129,027 0.2% $ 564,459,191 0.2% $ 154,414 154,414 $ 175,842 175,842 $ 262,291 262,291 $ 309,297 309,297 $ 344,659 344,659 $ $ $ 86,476,029 0.2% $ $ $ 81,093,040 0.2% $ $ 17,832 $ 17,832 $ $ $ 58,109,252 0.0% $ 76,270,536 0.3% $ 17,011 $ 17,011 $ $ 69,847,482 0.4% $ 12,743 $ 12,743 $ 69,971,380 0.5% 8,252 8,252 $ $ 55,120,415 0.0% $ 55,359,714 0.0% $ 51,125,113 0.0% $ 51,127,839 0.0% $ $ 253 $ 236 $ 146 $ 1,264 $ $ 253 $ 5,323,798 0.0% $ 4,941,177 0.0% $ $ $ $ $ $ 4,872,826 0.0% $ $ 3,998,660 0.0% $ $ $ 100,538,722 0.0% $ The County was not required and did not contribute to the EORP health insurance premium benefit plan for fiscal years 2025 through 2017. 124 4,079,047 0.0% $ $ 98,368,264 0.0% 1,264 $ $ $ 97,490,774 0.0% 146 $ $ $ 98,372,860 0.0% 236 $ 102,944,404 0.0% Maricopa County Required Supplementary Information Schedule of County OPEB Contributions (Continued) June 30, 2025 Reporting fiscal year 2020 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 $ 2,630,535 2,630,535 $ $ County’s contributions as a percentage of 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) 2019 $ 2,331,974 2,331,974 $ 541,868,155 $ 911,102 911,102 $ $ $ 2017 2,112,434 2,112,434 $ 515,839,976 0.5% $ 2018 $ $ 2016 2,689,215 2,689,215 $ 497,392,855 $ 484,648,435 0.5% 0.4% 0.6% 808,790 808,790 $751,326 751,326 $667,849 667,849 $ $ $ 541,868,155 0.2% $ 515,839,976 0.2% $ 497,392,855 0.2% $ 484,648,435 0.1% $ 369,810 369,810 $ 380,835 380,835 $ 577,671 577,671 $ 525,994 525,994 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) $ 71,975,534 0.5% $ 71,052,917 0.5% $ 70,273,305 0.8% $ $ 7,366 7,366 $ 5,732 5,732 $ 1,377 1,377 $ 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 $ $ $ $ $ 67,273,479 0.8% Information not available $ 51,773,513 0.0% $ 53,880,062 0.0% $ 52,850,657 0.0% $ 55,883,688 0.0% $ 1,671 1,671 $ 1,855 1,855 $ 1,546 1,546 $ 1,735 1,735 $ $ 4,041,539 0.0% $ $ 4,029,625 0.0% $ $ $ $ $ 99,862,066 $ 3,798,904 0.0% $ 3,636,066 0.0% $ 19,491 19,491 $ 19,437 19,437 0.0% 0.0% $ $ 104,307,731 0.0% $ 106,256,020 0.0% The County was not required and did not contribute to the EORP health insurance premium benefit plan for fiscal years 2025 through 2017. 125 Information not available $ $ $ 92,198,723 Information not available $ $ $ Information not available $ 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) $ Information not available Information not available Maricopa County Required Supplementary Information Notes to Pension/OPEB Plan Schedules Year Ended June 30, 2025 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 2023 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 fair value; 80%/120% market corridor PSPRS members with initial membership on or after July 1, 2017: 5-year smoothed fair value; 80%/120% market corridor PSPRS members with initial membership date before July 1, 2017, and CORP members with initial membership date before July 1, 2018: In the 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%. PSPRS members with initial membership dates on or after July 1, 2017: 7% In the 2017 actuarial valuation, projected salary increases were decreased from 4.0%–8.0% to 3.5%–7.5% for PSPRS and from 4.0%– 7.25% to 3.5%–6.5% for CORP. In the 2014 actuarial valuation, projected salary increases were decreased from 4.5%–8.5% to 4.0%–8.0% for PSPRS and from 4.5%–7.75% to 4.0%–7.25% for CORP. In the 2013 actuarial valuation, projected salary increases were decreased from 5.0%–9.0% to 4.5%–8.5% for PSPRS and from 5.0%–8.25% to 4.5%– 7.75% for CORP. In the 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 4.0% to 3.5% for PSPRS and CORP. In the 2014 actuarial valuation, wage growth was decreased from 4.5% to 4.0% for PSPRS and CORP. In the 2013 actuarial valuation, wage growth was decreased from 5.0% to 4.5% for PSPRS and CORP. Experience-based table of rates that is specific to the type of eligibility condition. Last updated for the 2012 valuation pursuant to an experience study of the period July 1, 2006–June 30, 2011. In the 2019 actuarial valuation, changed to PubS-2010 tables. In the 2017 actuarial valuation, changed to RP-2014 tables, with 75% of MP-2016 fully generational projection scales. RP-2000 mortality table (adjusted by 105% for both males and females) 126 Maricopa County Required Supplementary Information Notes to Pension/OPEB Plan Schedules (Continued) Year Ended June 30, 2025 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, 2025 Condition Rating of Maricopa County Roadway System Percentage of Centerline Miles ≥ 60 FY 2025 80% Roadway System FY 2024 79% Percentage of Centerline Miles in Very Good or Excellent Condition (70-100) FY 2023 79% FY2022 46% Percentage of Centerline Miles in Substandard Condition (< 55) Percentage of Centerline Miles < 40 FY 2024 4% FY 2025 4% Roadway System FY 2021 76% FY 2023 4% FY 2022 13% FY 2021 3% Comparison of Estimated to Actual Maintenance/Preservation FY 2024 FY 2025 FY 2023 FY 2022 FY 2021 Estimated $ 31,896,723 $ 33,159,001 $ 29,587,144 $ 16,909,150 $ 17,771,127 Actual $ 24,282,806 $ 30,959,358 $ 25,383,525 $ 30,078,267 $ 21,800,666 The condition of road pavement is measured and managed using the Maricopa County Department of Transportation (MCDOT) asset management software, OpenGov Enterprise Asset Management (formerly Cartegraph Asset Management), which is based on weighted averages of pavement surface distress factors. The OpenGov Enterprise 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. Although the process for maintaining roads did not change, the County did revise condition goals to reflect changes in the inspection process. The County continues to be in compliance with condition ratings and no additional funding is required to maintain the revised 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, FY 2024, and FY 2025 when all segments were inspected to create a baseline for the new inspection protocols. Condition Rating of Maricopa County Bridge System Percentage of Bridges ≥ 5 Bridge System Estimated Actual FY 2025 99.9% FY 2024 100.0% FY 2023 100.0% FY 2022 100.0% FY 2021 100.0% FY 2025 $ 2,242,500 $ 1,267,712 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 The condition of the County’s federal bridges/structures is determined using the MCDOT bridge inspection program that follows federal mandates and regulations. The condition of the County’s Non-Federal structures is determined using the MCDOT asset inspection program and follows MCDOT inspection standards. 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). 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 one-half of the Federal bridges are inspected annually) and all Non-Federal structures are inspected every 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 Operations Fund resources restricted for technology improvement projects consistent with A.R.S. §426109.01. 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, 2025 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 4,466,886 5,532,021 Receivables 817,138 10,138,506 731,917 64,716 Due from other funds Due from other governmental units 75,247 1,059,984 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 4,466,886 $ 6,263,938 $ $ 22,399 $ 125,307 $ 892,385 $ 37,032 $ 10,203,222 $ 292,615 $ 1,059,984 LIABILITIES Accounts payable 25,688 Employee compensation payable 257,362 36,626 25,633 Claims and judgments Accrued liabilities Due to other funds 997,722 Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 829,670 Deposits held for other parties Contract retention payable 22,399 Total liabilities 125,307 892,390 549,977 1,059,981 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental 30,205 586,537 30,205 586,537 Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 4,444,487 6,138,631 4,444,487 6,138,631 9,653,245 Committed (30,210) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 4,466,886 $ 6,263,938 138 (586,534) (30,210) $ 892,385 9,653,245 $ 10,203,222 (586,534) $ 1,059,984 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 SPECIAL REVENUE FUNDS Animal Animal Animal Control Care Donations Control Grants License/ Shelter Cactus Ballpark Operations League Operations ASSETS Cash in bank and on hand $ $ $ 2,230 $ $ Cash and investments held by County Treasurer 406,155 Receivables 60,824 46,076 174,594 2,025,668 568,002 12,989 83,498 Due from other funds Due from other governmental units 989,468 Inventories 42,989 Miscellaneous Cash and investments held by trustee – restricted Total assets $ 452,231 $ $ 5,372 $ 60,824 $ 787,815 $ 2,038,657 $ 1,072,966 329,091 $ 9,420 $ 989,468 LIABILITIES Accounts payable $ Employee compensation payable 1,792 255,436 Claims and judgments Accrued liabilities 26 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 59,032 Deposits held for other parties Contract retention payable 5,372 Total liabilities 60,824 584,553 9,420 989,468 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 42,989 Restricted 446,859 160,273 2,029,237 83,498 446,859 203,262 2,029,237 83,498 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 452,231 $ 60,824 139 $ 787,815 $ 2,038,657 $ 1,072,966 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 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 23,547 1,555,130 Receivables 9,883 57,944 9,971 Due from other funds Due from other governmental units 247,707 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 23,547 $ 1,565,101 $ 9,883 $ 57,944 $ 247,707 LIABILITIES Accounts payable $ $ Employee compensation payable 1,022 Claims and judgments Accrued liabilities 1,099 $ $ 3,040 $ 48,611 Due to other funds 247,707 Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue Deposits held for other parties Contract retention payable 2,121 Total liabilities 3,040 48,611 247,707 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental 77,191 Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 77,191 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 21,426 1,562,061 9,883 9,333 21,426 1,562,061 9,883 9,333 Committed (77,191) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 23,547 $ 140 1,565,101 $ 9,883 $ 57,944 (77,191) $ 247,707 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 SPECIAL REVENUE FUNDS Clerk of the Court Clerk of Conciliation County Judicial The Court Court Attorney Enhancement SRF Fees Fill the Gap ASSETS Cash in bank and on hand $ $ $ $ Cash and investments held by County Treasurer Receivables 3,161,506 2,395,557 1,282,735 657,302 113,882 342,582 141,046 4,214 Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 3,275,388 $ 31,757 $ 2,738,139 $ 1,423,781 $ 42,575 $ 504 $ 661,516 LIABILITIES Accounts payable $ Employee compensation payable 11,907 57,816 28,024 43,664 100,391 504 28,024 3,231,724 2,637,748 1,423,277 633,492 3,231,724 2,637,748 1,423,277 633,492 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 $ 3,275,388 $ 2,738,139 141 $ 1,423,781 $ 661,516 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 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 $ $ 204,189 $ $ $ Cash and investments held by 12,108,933 County Treasurer Receivables 823,432 1,228,739 260,975 123,004 7,878 13,206 Due from other funds 1,705,466 Due from other governmental units 538,033 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 1,705,466 $ 12,313,122 $ 371,511 $ 12,215 $ 946,436 $ 1,774,650 $ 274,181 LIABILITIES Accounts payable $ 126,470 Employee compensation payable $ $ 20,623 8,654 4,520,604 20,623 8,654 7,792,518 925,813 1,765,996 274,181 7,792,518 925,813 1,765,996 274,181 Claims and judgments Accrued liabilities 1,195,486 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 12,000 Unearned revenue 4,508,389 Deposits held for other parties Contract retention payable 1,705,467 Total liabilities DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 760,802 Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 760,802 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted Committed (760,803) Unassigned (760,803) Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 1,705,466 $ 12,313,122 142 $ 946,436 $ 1,774,650 $ 274,181 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 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 2,400,014 County Treasurer 522,260 15,051 16,064,783 20,289 Receivables 122,269 Due from other funds 2,064,901 Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 2,420,303 $ 522,260 $ $ 4,230 $ 15,051 $ 2,064,901 $ $ 175,119 $ 16,187,052 LIABILITIES Accounts payable $ 11,455 Employee compensation payable 28,077 342,278 418,886 Claims and judgments Accrued liabilities 1,002,413 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 518,030 859,289 522,260 2,064,898 Deposits held for other parties Contract retention payable 11,455 Total liabilities 761,164 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 1,027,137 Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 1,027,137 Total deferred inflows of resources FUND BALANCES Nonspendable 15,051 Restricted 2,408,848 Committed 15,425,888 (1,027,134) Unassigned Total liabilities, deferred inflows of resources, and fund balances 15,051 2,408,848 Total fund balances $ 2,420,303 $ 522,260 143 $ 15,051 (1,027,134) $ 2,064,901 15,425,888 $ 16,187,052 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 SPECIAL REVENUE FUNDS Expedited Human Inmate Child Flood Services Health Inmate Support Control Grants Services Services ASSETS Cash in bank and on hand $ $ $ $ $ Cash and investments held by County Treasurer Receivables 527,864 46,444,082 1,045,645 20,247,378 59,889 1,880,483 6,704 130,002 Due from other funds 11,666,540 Due from other governmental units 594,757 Inventories 435,450 23,976 Miscellaneous 978,817 Cash and investments held by 935 trustee – restricted Total assets $ 587,753 $ 48,920,257 $ 11,666,540 $ 1,076,325 $ $ 2,651,562 $ 6,553,980 $ 7,232 $ 21,791,647 LIABILITIES Accounts payable $ 457,859 355,719 Employee compensation payable Claims and judgments Accrued liabilities 859,770 135,895 669 20 1,193,021 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 1,050 3,266,651 3,009,000 11,471,511 Deposits held for other parties Contract retention payable Total liabilities 7,232 995,685 DEFERRED INFLOWS OF RESOURCES 803,806 Unavailable revenue – property tax 6,500,437 Unavailable revenue – intergovernmental Unavailable revenue - settlements 110,213 Deferred inflows - leases Deferred inflows – public private partnerships 914,019 Total deferred inflows of resources 6,500,437 FUND BALANCES 594,757 Nonspendable Restricted 587,753 44,402,481 587,753 44,997,238 435,450 1,069,093 20,360,512 1,069,093 20,795,962 Committed (6,305,408) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 587,753 $ 48,920,257 144 (6,305,408) $ 11,666,540 $ 1,076,325 $ 21,791,647 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 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 6,231,919 County Treasurer 8,226 39,200 Receivables 2,445,139 13,359,080 589,570 85,656 143,798 Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 6,271,119 $ $ 14,268 $ 8,226 $ 3,034,709 $ 13,444,736 $ $ 97,164 $ 143,798 LIABILITIES Accounts payable Employee compensation payable $ 699 1,656 14,967 98,820 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 6,256,152 8,226 3,034,709 13,345,916 143,798 6,256,152 8,226 3,034,709 13,345,916 143,798 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 6,271,119 $ 8,226 145 $ 3,034,709 $ 13,444,736 $ 143,798 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 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 $ $ $ $ 1,610 $ Cash and investments held by 1,056,282 County Treasurer 2,229,206 207,382 154,401 Receivables 2,735,378 1,370,201 10,631,877 174,344 Due from other funds 34,313 Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 1,090,595 $ 27,444 $ 2,383,607 $ 207,382 $ $ 4,826 $ 13,368,865 $ 49,933 $ 1,544,545 LIABILITIES Accounts payable $ 56,853 Employee compensation payable 43,003 50,020 13,625 99,953 56,628 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 654,017 Unearned revenue Deposits held for other parties Contract retention payable 4,826 738,314 Total liabilities DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Unavailable revenue - settlements 822,089 Deferred inflows - leases Deferred inflows – public private partnerships 8,997,081 Total deferred inflows of resources 9,819,170 FUND BALANCES Nonspendable Restricted 352,281 2,383,607 202,556 3,449,742 1,487,917 352,281 2,383,607 202,556 3,449,742 1,487,917 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 1,090,595 $ 2,383,607 146 $ 207,382 $ 13,368,865 $ 1,544,545 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 SPECIAL REVENUE FUNDS Medical Officer Library Examiner Safety Palo District Grants Equipment Verde ASSETS Cash in bank and on hand $ 1,700 $ $ $ Cash and investments held by 21,306,603 County Treasurer 93,585 585,488 Receivables 160,978 1,097,857 23,865 7,107 Due from other funds 830,955 Due from other governmental units 3,500 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 22,724,746 $ $ 1,498,812 $ 97,085 $ 184,843 $ 1,104,964 LIABILITIES Accounts payable $ $ 316,955 Employee compensation payable 2,472 12,256 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 97,085 Unearned revenue Deposits held for other parties Contract retention payable 97,085 1,815,767 Total liabilities 14,728 DEFERRED INFLOWS OF RESOURCES 320,106 Unavailable revenue – property tax Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 320,106 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 20,588,873 184,843 1,090,236 20,588,873 184,843 1,090,236 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 22,724,746 $ 147 97,085 $ 184,843 $ 1,104,964 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 SPECIAL REVENUE FUNDS Planning and Parks Parks Parks Pension Development Donations Enhancements Souvenir Reserve Fees ASSETS Cash in bank and on hand $ $ 450 $ $ $ Cash and investments held by County Treasurer Receivables 649,928 707,301 4,167 972,774 26,722 94,000,000 57,845,718 1,699,419 Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 654,095 $ $ 1,843 $ 1,680,525 $ 59,263 $ 26,722 94,000,000 $ 59,545,137 $ $ 1,569,800 LIABILITIES Accounts payable 95,172 Employee compensation payable 644 1,238 258,177 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 233,722 Deposits held for other parties 34,415 Contract retention payable 154,435 1,843 Total liabilities 1,882 2,096,114 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Unavailable revenue - settlements 853,075 Deferred inflows - leases Deferred inflows – public private partnerships 853,075 Total deferred inflows of resources FUND BALANCES Nonspendable 652,252 Restricted 673,015 24,840 94,000,000 57,449,023 Committed Unassigned Total liabilities, deferred inflows of resources, and fund balances 673,015 652,252 Total fund balances $ 654,095 $ 1,680,525 148 24,840 $ 26,722 94,000,000 $ 94,000,000 57,449,023 $ 59,545,137 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 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 $ $ $ $ $ 8,800 Cash and investments held by County Treasurer Receivables 281,976 1,161,990 33,945 10,515 10,906,407 170,394 9,462,148 290,704 Due from other funds Due from other governmental units 156,726 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 315,921 $ 1,172,505 $ 10,906,407 $ 170,394 $ 9,918,378 $ 3,843 $ 189 $ 575,969 LIABILITIES Accounts payable $ $ 23,786 Employee compensation payable 3,808 86,718 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 10,898,756 Unearned revenue Deposits held for other parties Contract retention payable 23,786 Total liabilities 10,906,407 189 662,687 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 156,726 Nonspendable Restricted 315,921 1,148,719 170,205 9,098,965 315,921 1,148,719 170,205 9,255,691 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 315,921 $ 1,172,505 149 $ 10,906,407 $ 170,394 $ 9,918,378 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 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 County Treasurer 1,742,111 6,267,779 Receivables 3,075,677 874,949 257,979 7,715 395,620 Due from other funds Due from other governmental units 15,823,876 Inventories 1,168,944 95,117 11,316 1 Miscellaneous Cash and investments held by trustee – restricted Total assets $ 23,260,600 $ 1,837,228 $ $ 2,756,951 $ 10,803 $ 3,333,656 $ 882,664 $ 406,936 8,798 $ 18,367 LIABILITIES Accounts payable 708,257 Employee compensation payable $ 9,476 11,113 45,982 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 19,557,977 1,826,425 23,023,185 1,837,228 7,032,405 95,117 11,316 7,032,405 95,117 11,316 342,587 Deposits held for other parties Contract retention payable Total liabilities 9,476 19,911 406,936 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 1,168,944 Nonspendable 3,324,180 Restricted 862,753 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ (7,963,934) (95,117) (6,794,990) (95,117) 23,260,600 $ 150 1,837,228 (11,316) 3,324,180 $ 3,333,656 862,753 $ 882,664 (11,316) $ 406,936 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 SPECIAL REVENUE FUNDS Sheriff School Sheriff Sheriff Jail Sheriff Transportation Donations Grants Enhancements Rico ASSETS Cash in bank and on hand $ $ $ $ $ 60,000 Cash and investments held by County Treasurer Receivables 594,944 606,328 3,815 3,888 17,320,440 5,043,343 32,342 Due from other funds 891,627 Due from other governmental units 103,231 Inventories 44,953 Miscellaneous Cash and investments held by trustee – restricted Total assets $ 598,759 $ $ 627 $ 610,216 $ 18,212,067 $ 5,178,916 $ 104,953 $ 190,705 $ 56,921 $ 1,429 LIABILITIES Accounts payable 20,084 Employee compensation payable Claims and judgments Accrued liabilities 43,558 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 18,001,281 Unearned revenue Deposits held for other parties 1,745 Contract retention payable 18,212,070 627 Total liabilities 58,666 44,987 5,120,250 59,966 5,120,250 59,966 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 506,822 Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 506,822 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 598,132 610,216 598,132 610,216 Committed (506,825) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 598,759 $ 610,216 151 (506,825) $ 18,212,067 $ 5,178,916 $ 104,953 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 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 55,876 County Treasurer 211,606 140,510 318,566 3,512,219 9,360 Receivables 3,713 Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 55,876 $ 211,606 $ 149,870 $ 318,766 $ 3,515,932 698 $ 460,072 LIABILITIES Accounts payable $ Employee compensation payable $ $ $ 1,619 2,523 3,720 1,619 2,523 4,418 460,072 54,257 209,083 149,870 314,348 3,055,860 54,257 209,083 149,870 314,348 3,055,860 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 $ 55,876 $ 211,606 152 $ 149,870 $ 318,766 $ 3,515,932 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 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 $ $ $ $ $ Cash and investments held by 882,621 County Treasurer 519,524 2,434,034 5,237 Receivables 1,154,586 6,091,152 63,397 566,761 Due from other funds 330,090 Due from other governmental units 20,746 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 882,621 $ $ 884 $ 524,761 $ 2,764,124 $ 1,217,983 $ 6,678,659 47,495 $ 22,684 $ 1,144 LIABILITIES Accounts payable $ 50,599 Employee compensation payable Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 2,666,041 Unearned revenue Deposits held for other parties Contract retention payable 2,764,135 884 Total liabilities 22,684 1,144 1,195,299 6,677,515 1,195,299 6,677,515 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 68,640 Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 68,640 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 881,737 524,761 881,737 524,761 Committed (68,651) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 882,621 $ 524,761 153 (68,651) $ 2,764,124 $ 1,217,983 $ 6,678,659 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 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 County Treasurer Receivables 536,561 75,429,829 1,110,694 1,094,277 3,440 928,198 7,104 7,016 Due from other funds 194,162 Due from other governmental units 25,971,679 1,424,950 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 540,001 $ 194,162 $ 103,754,656 $ $ $ 1,117,798 $ 1,101,293 LIABILITIES Accounts payable $ $ 10,319,928 $ 810,067 Employee compensation payable Claims and judgments Accrued liabilities 193,000 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 1,162 Unearned revenue 6,623,366 Deposits held for other parties Contract retention payable 194,162 Total liabilities 17,753,361 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Unavailable revenue - settlements 12,537 Deferred inflows - leases Deferred inflows – public private partnerships 12,537 Total deferred inflows of resources FUND BALANCES 1,424,950 Nonspendable Restricted 540,001 84,563,808 1,117,798 1,101,293 540,001 85,988,758 1,117,798 1,101,293 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 540,001 $ 194,162 154 $ 103,754,656 $ 1,117,798 $ 1,101,293 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 SPECIAL REVENUE FUNDS Victim Waste Waste Location Management Tire Total ASSETS Cash in bank and on hand $ $ $ $ 279,179 Cash and investments held by 71,273 County Treasurer Receivables 542,492 6,483,544 498,706,823 125,599 41,571 21,769,286 1,485,353 64,143,311 Due from other funds Due from other governmental units Inventories 3,823,816 Miscellaneous 1,047,747 Cash and investments held by 935 trustee – restricted Total assets $ 71,273 $ 668,091 $ 8,010,468 $ 10,877 $ 508,454 $ 589,771,097 LIABILITIES Accounts payable $ 1,085 Employee compensation payable Claims and judgments Accrued liabilities $ 31,266,373 4,865,457 1,814 4,872,907 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 59,824,775 Deposits held for other parties 11,166,170 1,745 Contract retention payable 10,877 Total liabilities 509,539 111,999,241 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 1,123,912 Unavailable revenue – intergovernmental 16,696,609 Unavailable revenue - settlements Deferred inflows - leases 1,797,914 Deferred inflows – public private partnerships 8,997,081 Total deferred inflows of resources 28,615,516 FUND BALANCES 3,823,816 Nonspendable 71,273 Restricted 657,214 7,500,929 386,619,135 Committed 76,146,512 Unassigned (17,433,123) Total liabilities, deferred inflows of resources, and fund balances 657,214 71,273 Total fund balances $ 71,273 $ 668,091 155 $ 7,500,929 449,156,340 8,010,468 $ 589,771,097 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 DEBT SERVICE FUNDS CAPITAL PROJECT FUNDS Detention County Detention Improvement Pledged Debt Revenue Total Technology Capital Capital Projects Projects ASSETS Cash in bank and on hand $ $ $ $ $ Cash and investments held by 6,172,279 County Treasurer 6,172,279 150,215,650 2,460,071 Receivables Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by 101,754 trustee – restricted Total assets $ 6,274,033 8,910 $ 8,910 110,664 $ 6,282,943 $ 150,215,650 $ $ $ 2,460,071 LIABILITIES Accounts payable $ $ $ 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 17,245 Contract retention payable 17,245 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 101,754 Committed 6,172,279 8,910 110,664 150,198,405 2,460,071 6,282,943 150,198,405 2,460,071 6,282,943 $ 150,215,650 6,172,279 Unassigned Total liabilities, deferred inflows of resources, and fund balances 8,910 6,274,033 Total fund balances $ 6,274,033 $ 156 8,910 $ $ 2,460,071 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 CAPITAL PROJECT FUNDS Flood Library Control District Sheriff Mash Special Capital Capital Capital Improvement Projects Improvement Donations Districts ASSETS Cash in bank and on hand $ $ $ $ Cash and investments held by 52,044,570 County Treasurer 11,291,047 300,114 1,155,069 72,415 Receivables Due from other funds 1,340,969 Due from other governmental units Inventories 388,423 Miscellaneous Cash and investments held by trustee – restricted Total assets $ 53,773,962 $ 11,363,462 $ $ 10,941,796 $ 554 $ 300,114 $ 1,155,069 $ 67,422 LIABILITIES Accounts payable 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 1,149,738 Contract retention payable Total liabilities 12,091,534 554 67,872 41,682,428 11,362,908 300,114 1,087,197 41,682,428 11,362,908 300,114 1,087,197 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 $ 53,773,962 157 $ 11,363,462 $ 300,114 $ 1,155,069 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2025 CAPITAL PROJECT FUNDS Total Technology Transportation Capital Capital Improvement Projects Nonmajor Governmental Total Funds ASSETS Cash in bank and on hand $ $ $ $ 279,179 Cash and investments held by 69,249,846 County Treasurer 68,030,456 Receivables 354,746,823 859,625,925 72,415 21,841,701 2,207,555 66,350,866 Due from other funds 866,586 Due from other governmental units 3,823,816 Inventories 388,423 Miscellaneous 1,436,170 Cash and investments held by 111,599 trustee – restricted Total assets $ 69,249,846 $ 68,897,042 $ 357,415,216 $ 953,469,256 $ 614,218 $ 16,842,681 $ 28,466,671 $ 59,733,044 LIABILITIES Accounts payable 27,658 Employee compensation payable Claims and judgments Accrued liabilities 27,658 4,893,115 450 2,264 4,872,907 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 59,824,775 Unearned revenue 3,991,705 3,991,705 10,388 3,138,952 4,316,323 4,318,068 652,264 23,973,338 36,802,807 148,802,048 Deposits held for other parties Contract retention payable Total liabilities 15,157,875 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 1,123,912 Unavailable revenue – intergovernmental 16,696,609 Unavailable revenue - settlements Deferred inflows - leases 1,797,914 Deferred inflows – public private partnerships 8,997,081 Total deferred inflows of resources 28,615,516 FUND BALANCES 3,823,816 Nonspendable 44,923,704 Restricted 68,597,582 Committed 252,014,827 638,744,626 68,597,582 150,916,373 (17,433,123) Unassigned Total liabilities, deferred inflows of resources, and fund balances 44,923,704 68,597,582 Total fund balances $ 69,249,846 $ 158 68,897,042 320,612,409 $ 357,415,216 776,051,692 $ 953,469,256 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Adult Probation Fees Accommodation Schools Adult Probation Grants Air Quality Fees Air Quality Grants REVENUES Taxes $ $ $ $ $ 13,987,639 Licenses and permits 11,194,100 Intergovernmental 4,318,283 2,200,997 7,114,444 Charges for services 553 841,425 Settlement revenue 109,951 2,157,338 Fines and forfeits Special assessment Interest income 137,903 251,318 24,180 591,417 11,332,003 9,523,100 2,225,730 15,549,995 4,318,283 8,286,751 2,253,912 16,833,919 4,287,547 19,563 Miscellaneous Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation 9,999,766 Education Debt service: Principal Interest Other expenses Capital outlay 9,999,766 8,286,751 2,253,912 16,833,919 4,287,547 1,332,237 1,236,349 (28,182) (1,283,924) 30,736 Net change in fund balances 1,332,237 1,236,349 (28,182) (1,283,924) 30,736 Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 3,112,250 4,902,282 (2,028) 10,937,169 (617,270) Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2025 $ 4,444,487 $ 6,138,631 159 $ (30,210) $ 9,653,245 $ (586,534) Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Animal Care Donations Animal Control License/ Shelter Animal Control Grants Cactus League Operations Ballpark Operations REVENUES Taxes $ $ $ $ 4,833,350 Licenses and permits $ 7,413,735 250,000 241,490 Intergovernmental 5,465,647 Charges for services Settlement revenue 751 Fines and forfeits Special assessment Interest income 2,748 (40,260) 106,499 Miscellaneous 870,880 73,157 7 356,506 7,423,138 358,474 7,425,536 20,064,414 358,474 7,425,536 (9,731,769) (1,968) (2,398) Total revenues 873,628 241,490 10,332,645 477,269 241,490 19,936,148 9,403 EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses 128,266 Capital outlay 477,269 Total expenditures 241,490 Excess (deficiency) of revenues 396,359 over expenditures OTHER FINANCING SOURCES (USES) 9,808,092 Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) 9,808,092 Total other financing sources (uses) Net change in fund balances 396,359 76,323 (1,968) (2,398) Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 50,500 150,484 2,031,205 85,896 Fund balances (deficit), June 30, 2025 (23,545) $ 446,859 $ $ 160 203,262 $ 2,029,237 $ 83,498 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 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 945,014 Charges for services 70 1,782,678 Settlement revenue Fines and forfeits 4,261 Special assessment Interest income 6,478 79,278 323 7,764 10,739 79,278 393 1,790,442 945,014 57,885 38,409 1,782,678 949,155 57,885 38,409 1,782,678 949,155 (47,146) 40,869 393 7,764 (4,141) Miscellaneous Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Net change in fund balances (47,146) 40,869 393 7,764 (4,141) Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 68,572 1,521,192 9,490 1,569 (73,050) Fund balances (deficit), June 30, 2025 $ 21,426 $ 1,562,061 161 $ 9,883 $ 9,333 $ (77,191) Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Clerk of the Court Judicial Enhancement Clerk of The Court SRF Conciliation Court Fees Correctional Health Grants REVENUES Taxes $ $ $ $ Licenses and permits Intergovernmental 898 Charges for services 1,017,298 3,666,783 1,459,471 150,510 145,169 72,720 Settlement revenue Fines and forfeits Special assessment Interest income 72,187 Miscellaneous Total revenues 6,661,192 1,167,808 3,884,139 1,532,191 857,278 3,685,297 1,617,478 6,662,090 EXPENDITURES Current: General government Public safety Highways and streets 6,662,090 Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses 395,957 Capital outlay 857,278 4,081,254 1,617,478 310,530 (197,115) (85,287) Net change in fund balances 310,530 (197,115) (85,287) Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 2,921,194 2,834,863 1,508,564 Total expenditures 6,662,090 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2025 $ 3,231,724 $ 2,637,748 162 $ 1,423,277 $ Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 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 8,765,304 Intergovernmental 1,062,308 7,913 1,393,922 Charges for services 1,294,528 Settlement revenue 1,140,614 Fines and forfeits Special assessment 27,329 Interest income 246,256 39,190 44,822 20,209 Miscellaneous Total revenues 1,421,251 8,765,304 1,414,992 1,333,718 1,107,130 1,211,333 8,542,976 299,805 1,168,703 522,108 EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: 607,730 Principal Interest Other expenses 167,262 4,486,765 1,211,333 8,710,238 5,394,300 1,168,703 522,108 209,918 55,066 (3,979,308) 165,015 585,022 585,022 1,180,974 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) 4,319,070 Total other financing sources (uses) 4,319,070 Net change in fund balances 209,918 55,066 339,762 165,015 Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 423,574 (815,869) 7,452,756 760,798 Fund balances (deficit), June 30, 2025 $ 633,492 $ (760,803) 163 $ 7,792,518 $ 925,813 $ 1,765,996 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Domestic Relations Mediation Education Educational Supplemental Program Elections Grants Emancipation Administration Emergency Management REVENUES Taxes $ $ $ $ $ Licenses and permits 511,773 Intergovernmental 529,742 5,565,839 152,314 Charges for services 724 282,784 Settlement revenue Fines and forfeits Special assessment Interest income 8,524 170,647 28,555 481 160,838 682,420 558,297 1,205 Miscellaneous Total revenues 5,848,623 EXPENDITURES Current: 538,462 General government 1,710,675 137,500 Public safety Highways and streets Health, welfare and sanitation Culture and recreation 1,993,239 Education Debt service: Principal Interest Other expenses Capital outlay Total expenditures 19,835 2,300,038 558,297 4,010,713 137,500 1,993,239 23,338 (1,310,819) 1,205 1,837,910 23,338 250,843 (1,310,819) 3,719,667 1,205 13,846 (2,865,044) Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2025 $ 274,181 $ 2,408,848 164 $ $ 15,051 1,837,910 $ (1,027,134) Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Environmental Services Environmental Health Expedited Child Support Human Services Grants Flood Control REVENUES Taxes $ $ $ 18,739,588 Licenses and permits 77,970,526 $ 1,061,618 402,138 Intergovernmental 6,582,752 Charges for services 573,620 74,775,234 29,650 Settlement revenue 35,917 Fines and forfeits Special assessment Interest income 852,674 Miscellaneous 16,964 18,093 26,227,895 Total revenues 4,570,304 1,437,405 591,713 85,471,641 503,943 36,896,818 74,775,234 EXPENDITURES Current: General government Public safety Highways and streets 26,796,803 Health, welfare and sanitation 62,686,430 Culture and recreation Education Debt service: Principal 584,967 243,606 1,437,703 Interest 185,240 44,743 499,755 Other expenses 1,376,438 344,165 27,567,010 503,943 38,561,605 64,968,053 (1,339,115) 87,770 46,910,036 9,807,181 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) 1,288,664 40,235 Transfers in (40,366,361) Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) 40,235 Total other financing sources (uses) (40,366,361) 1,288,664 Net change in fund balances (1,298,880) 87,770 6,543,675 11,095,845 Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 16,724,768 499,983 38,465,704 (17,401,253) Fund balances (deficit), June 30, 2025 (12,141) $ 15,425,888 $ 587,753 165 $ 44,997,238 $ (6,305,408) Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 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 223,227 Charges for services 12,503,855 7,620,969 Settlement revenue 899,250 Fines and forfeits Special assessment 1,072,843 49,549 Interest income 299,633 97,823 7,964 Miscellaneous Total revenues 272,776 13,584,662 1,198,883 7,718,792 121,960 14,227,846 623,605 6,704,121 EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses 113,576 65,567 132,121 14,227,846 737,181 6,769,688 140,655 (643,184) 461,702 949,104 Net change in fund balances 140,655 (643,184) 461,702 949,104 Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 928,438 21,263,810 5,794,450 10,161 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2025 8,226 2,085,605 175,336 $ 1,069,093 $ 20,795,962 166 $ 6,256,152 $ 8,226 $ 3,034,709 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Justice Reinvestment Fund Juvenile Probation Special Fee Juvenile Probation Grants Juvenile Probation Juvenile Restitution REVENUES Taxes $ $ $ $ $ Licenses and permits 3,754,309 3,426,165 Intergovernmental 38 Charges for services 63,863 Settlement revenue 2,143,635 Fines and forfeits Special assessment 540,864 Interest income 4,638 34,898 103,301 6,090 3,789,207 2,310,799 6,090 3,739,207 1,811,232 45,000 3,739,207 1,811,232 45,000 50,000 499,567 (38,910) 10 Miscellaneous 3,967,029 Total revenues 4,686 EXPENDITURES Current: General government Public safety Highways and streets 772,518 Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses Capital outlay 772,518 Total expenditures Excess (deficiency) of revenues 3,194,511 over expenditures 4,686 OTHER FINANCING SOURCES (USES) 50,000 Transfers in (50,000) Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) (50,000) Total other financing sources (uses) Net change in fund balances 3,194,511 4,686 Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 10,151,405 139,112 Fund balances (deficit), June 30, 2025 $ 13,345,916 $ 143,798 167 50,000 352,281 $ 352,281 $ 499,567 11,090 1,884,040 191,466 2,383,607 $ 202,556 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Lake Pleasant Recreation Law Library Library District Grants Library District Medical Examiner REVENUES Taxes $ $ $ 26,933,575 $ $ Licenses and permits 350,729 Intergovernmental 5,142,884 Charges for services 1,801,122 5,744,392 3 220,787 50,558 1,539,245 50,000 110,624 Settlement revenue Fines and forfeits Special assessment Interest income 156,708 Miscellaneous 35,693 5,335,285 Total revenues 1,596 150,079 1,851,683 34,938,807 50,000 32,157,772 24,999 112,220 EXPENDITURES Current: General government 1,194,146 Public safety Highways and streets 112,220 Health, welfare and sanitation 4,798,841 Culture and recreation Education Debt service: Principal Interest Other expenses 33,748 439,516 Capital outlay Total expenditures 5,238,357 1,194,146 32,191,520 24,999 96,928 657,537 2,747,287 25,001 (100,000) (10,000,000) (100,000) (10,000,000) 557,537 930,380 (7,252,713) 27,841,586 112,220 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) 96,928 3,352,814 Net change in fund balances Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2025 $ 3,449,742 $ 1,487,917 168 $ 20,588,873 25,001 (25,001) $ $ Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Non Departmental Grants Officer Safety Equipment Parks and Recreation Grants Palo Verde REVENUES Taxes $ $ $ $ Licenses and permits 900,433 2,479,134 Intergovernmental 280,604 Charges for services Settlement revenue 52,126 Fines and forfeits Special assessment 5,068 58,035 57,194 958,468 34,238 937,019 34,238 937,019 22,956 21,449 280,604 Net change in fund balances 22,956 21,449 280,604 Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 161,887 1,068,787 (280,604) Interest income Miscellaneous 2,479,134 Total revenues 280,604 EXPENDITURES Current: 2,479,134 General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses Capital outlay 2,479,134 Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2025 $ $ 184,843 169 $ 1,090,236 $ Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Parks Donations Parks Enhancement Parks Souvenir Planning and Development Fees Pension Reserve REVENUES Taxes $ $ $ $ $ 13,739,278 Licenses and permits Intergovernmental 7,313,377 Charges for services 326,861 12,245,819 Settlement revenue 114,907 Fines and forfeits Special assessment Interest income 31,330 67,945 Miscellaneous 40,618 59,079 71,948 7,440,401 Total revenues 267 2,597,088 327,128 28,699,499 2,407 EXPENDITURES Current: General government 85,560,000 Public safety 19,164,657 Highways and streets Health, welfare and sanitation 13,062 Culture and recreation 7,800,806 327,130 Education Debt service: 328,365 Principal 104,114 Interest 438,550 Other expenses 591,570 Capital outlay Total expenditures 1,053 13,062 8,392,376 327,130 85,998,550 19,598,189 58,886 (951,975) (2) (85,998,550) 9,101,310 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in (1,450) Transfers out Financed purchase agreements 180,000,000 Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) 179,998,550 Total other financing sources (uses) Net change in fund balances 58,886 (951,975) (2) Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 593,366 1,624,990 24,842 Fund balances (deficit), June 30, 2025 $ 652,252 $ 673,015 170 $ 24,840 94,000,000 9,101,310 48,347,713 $ 94,000,000 $ 57,449,023 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Public Defender Fill the Gap Probate Fees Public Defender Grants Public Defender Training Public Health Fees REVENUES Taxes $ $ $ $ $ Licenses and permits 2,682,546 Intergovernmental Charges for services 384,403 1,341,395 9,924 87,260 234,773 9,276,781 Settlement revenue Fines and forfeits Special assessment Interest income 385,550 5,096 Miscellaneous Total revenues 485,057 1,265 19,742 9,781,580 394,327 1,428,655 3,068,096 241,134 359,315 1,713,206 3,056,349 175,241 EXPENDITURES Current: General government Public safety Highways and streets 9,143,251 Health, welfare and sanitation Culture and recreation Education Debt service: Principal 211,021 Interest 47,721 Other expenses 768,277 Capital outlay Total expenditures 359,315 1,713,206 3,056,349 175,241 10,170,270 35,012 (284,551) 11,747 65,893 (388,690) Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Net change in fund balances 35,012 (284,551) 11,747 65,893 (388,690) Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 280,909 1,433,270 (11,747) 104,312 9,625,975 Fund balances (deficit), June 30, 2025 18,406 $ 315,921 $ 1,148,719 171 $ $ 170,205 $ 9,255,691 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 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 76,253,784 1,111,465 328,321 Charges for services Settlement revenue 6,530,207 5,224 2,775,284 899,377 61,313 79,801 24,367 1,172,778 2,855,085 1,252,065 6,530,207 15,848 1,079,343 880,017 1,842,657 4,628,127 17,874 1,714,663 Fines and forfeits Special assessment Interest income 10,624 602 Miscellaneous 77,969,049 Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation 77,179,991 Culture and recreation Education Debt service: Principal 74,816 Interest 31,778 Other expenses 60,462 Capital outlay Total expenditures 77,347,047 1,079,343 880,017 1,842,657 4,628,127 17,874 622,002 93,435 1,975,068 (590,592) 1,902,080 (2,026) Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2025 622,002 93,435 1,975,068 (590,592) 1,902,080 (2,026) (7,441,034) (188,552) 1,349,112 1,453,345 (1,913,396) 600,158 24,042 $ (6,794,990) $ (95,117) 172 $ 3,324,180 $ 862,753 $ (11,316) $ 598,132 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Sheriff Donations Sheriff Jail Enhancement Sheriff Grants Sheriff Towing and Impound Sheriff RICO REVENUES Taxes $ $ $ $ $ Licenses and permits 4,689,038 Intergovernmental 1,114,999 Charges for services Settlement revenue 1,352 Fines and forfeits 131,283 Special assessment Interest income 29,390 547,797 Miscellaneous 22,381 55,132 53,123 5,291,967 1,350,341 131,283 69,159 4,129,513 627,267 131,317 50,001 5,017,837 627,267 131,317 50,001 274,130 723,074 (34) 19,158 Total revenues 235,342 702 68,457 EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses 888,324 Capital outlay Total expenditures Excess (deficiency) of revenues 53,123 over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Net change in fund balances 53,123 274,130 723,074 (34) 19,158 Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 557,093 (780,955) 4,397,176 60,000 35,099 Fund balances (deficit), June 30, 2025 $ 610,216 $ (506,825) 173 $ 5,120,250 $ 59,966 $ 54,257 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 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 Charges for services 102,502 303,674 6,368 11,653 Settlement revenue Fines and forfeits 6,290,643 Special assessment 7,801 Interest income 111,424 34,541 364 Miscellaneous 117,458 Total revenues 108,870 315,327 6,402,431 34,541 6,406,416 55 EXPENDITURES Current: General government 146,505 Public safety Highways and streets Health, welfare and sanitation 377,091 Culture and recreation 124,363 Education Debt service: Principal Interest Other expenses Capital outlay Total expenditures 124,363 146,505 377,091 6,406,416 55 (6,905) (37,635) (61,764) (3,985) 34,486 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) 100,000 Transfers in Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) 100,000 Total other financing sources (uses) Net change in fund balances (6,905) (37,635) (61,764) (3,985) 134,486 Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 215,988 187,505 376,112 3,059,845 747,251 Fund balances (deficit), June 30, 2025 $ 209,083 $ 149,870 174 $ 314,348 $ 3,055,860 $ 881,737 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 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 4,737,976 Charges for services 1,782,678 1,222,909 614,183 6,031,311 302,622 34,310 93,586 12,000 51,515 270,262 9,524 36,502 1,816,988 6,066,471 665,698 6,311,097 339,124 1,499,925 5,981,824 450,741 4,642,367 1,499,925 5,981,824 450,741 4,642,367 120,000 317,063 84,647 214,957 1,668,730 219,124 Settlement revenue Fines and forfeits Special assessment Interest income Miscellaneous Total revenues EXPENDITURES Current: General government 120,000 Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out (500,000) Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) (500,000) Total other financing sources (uses) Net change in fund balances 317,063 84,647 214,957 1,668,730 (280,876) Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 207,698 (153,298) 980,342 5,008,785 820,877 Fund balances (deficit), June 30, 2025 $ 524,761 $ (68,651) 175 $ 1,195,299 $ 6,677,515 $ 540,001 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 SPECIAL REVENUE FUNDS Transportation Grants Victim Compensation Interest Transportation Operations Victim Compensation Restitution Victim Location REVENUES Taxes $ $ $ $ $ 5,354,825 Licenses and permits 1,417,552 Intergovernmental 156,754,772 75,218 Charges for services Settlement revenue 189,322 Fines and forfeits Special assessment Interest income 5,957,277 Miscellaneous 1,327,740 Total revenues 1,417,552 169,469,832 1,399,976 87,194,234 97,484 46,865 16,580 97,484 236,187 16,580 EXPENDITURES Current: General government 330 Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal 208,010 Interest 68,748 Other expenses 4,611,134 Capital outlay Total expenditures 1,399,976 92,082,126 330 17,576 77,387,706 97,154 236,187 16,580 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in (55,000,000) Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) (55,000,000) Total other financing sources (uses) Net change in fund balances 17,576 22,387,706 97,154 236,187 16,580 Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories (17,576) 63,223,712 1,020,644 865,106 54,693 Fund balances (deficit), June 30, 2025 377,340 $ $ 85,988,758 176 $ 1,117,798 $ 1,101,293 $ 71,273 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 DEBT SERVICE FUNDS SPECIAL REVENUE FUNDS Waste Management Waste Tire County Improvement Debt Total Pledged Revenue Debt REVENUES Taxes $ $ $ 112,317,836 $ $ 57,966,298 Licenses and permits 6,663,048 Intergovernmental 384,506,393 Charges for services 109,757,407 Settlement revenue 1,714,663 Fines and forfeits 7,201,497 6,290,643 Special assessment Interest income 31,339 Miscellaneous 123,547 241,020 134,581 7,460 134,581 7,460 11,108,168 154,886 Total revenues 23,280,554 6,904,068 714,143,459 EXPENDITURES Current: 5,096,956 General government 234,056,107 Public safety 88,594,210 Highways and streets 197,608 Health, welfare and sanitation 4,082,236 229,409,520 Culture and recreation 53,283,711 Education 18,606,026 Debt service: Principal 3,696,218 62,824,516 Interest 982,099 5,846,781 3,648,000 Other expenses 438,550 48,538 16,850,652 197,608 4,130,774 651,014,049 68,671,297 3,648,000 (42,722) 2,773,294 63,129,410 (68,536,716) (3,640,540) Transfers in 11,286,991 56,184,057 3,649,450 Transfers out (106,017,811) Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Financed purchase agreements 180,000,000 Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) 4,319,070 Total other financing sources (uses) 89,588,250 56,184,057 3,649,450 8,910 Net change in fund balances (42,722) 2,773,294 152,717,660 (12,352,659) Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 699,936 4,727,635 295,879,242 18,626,692 Fund balances (deficit), June 30, 2025 559,438 $ 657,214 $ 7,500,929 177 $ 449,156,340 $ 6,274,033 $ 8,910 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 DEBT SERVICE FUNDS CAPITAL PROJECT FUNDS Detention Capital Projects Total Detention Technology Capital Improvement Flood Control Capital Projects Library District Capital Improvement Sheriff Mash Capital Donation REVENUES Taxes $ $ $ $ $ $ Licenses and permits 6,632,528 Intergovernmental Charges for services Settlement revenue Fines and forfeits Special assessment 142,041 Interest income 106,793 9,852 6,632,528 106,793 9,852 Miscellaneous 142,041 Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal 62,824,516 Interest 9,494,781 Other expenses 35,235,628 445,249 72,319,297 35,235,628 445,249 (72,177,256) (28,603,100) (338,456) 2,460,071 40,366,361 10,000,000 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 9,852 OTHER FINANCING SOURCES (USES) 59,833,507 Transfers in 56,096,940 (3,145,017) Transfers out Financed purchase agreements Pledged revenue obligations issuance Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) 59,833,507 52,951,923 2,460,071 40,366,361 10,000,000 Net change in fund balances (12,343,749) 52,951,923 2,460,071 11,763,261 9,661,544 9,852 Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 18,626,692 97,246,482 29,919,167 1,701,364 290,262 2,460,071 $ 41,682,428 $ 11,362,908 Fund balances (deficit), June 30, 2025 $ 6,282,943 $ 150,198,405 178 $ $ 300,114 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2025 CAPITAL PROJECT FUNDS Special Improvement Districts Technology Capital Improvement Transportation Capital Projects Total Nonmajor Governmental Funds Total REVENUES Taxes $ 177,960 $ $ $ 177,960 $ 112,495,796 57,966,298 Licenses and permits Intergovernmental 18,971,980 25,604,508 410,110,901 Charges for services 8,338,276 8,338,276 118,095,683 Settlement revenue 1,714,663 Fines and forfeits 7,201,497 6,290,643 Special assessment 37,073 Interest income Miscellaneous Total revenues 153,718 23,576,313 68,189 282,871 351,060 11,459,228 283,222 27,593,127 34,625,522 748,911,022 EXPENDITURES Current: 5,096,956 General government 234,056,107 Public safety Highways and streets 88,594,210 Health, welfare and sanitation 229,409,520 Culture and recreation 53,283,711 Education 18,606,026 Debt service: Principal 66,520,734 Interest 10,476,880 438,550 Other expenses 299,320 8,495,045 64,985,920 109,461,162 126,311,814 299,320 8,495,045 64,985,920 109,461,162 832,794,508 (16,098) (8,495,045) (37,392,793) (74,835,640) (83,883,486) Transfers in 40,600,391 55,000,000 204,523,763 275,644,261 Transfers out (18,004,437) (21,149,454) (127,167,265) 77,201 77,201 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Financed purchase agreements 77,201 180,000,000 Pledged revenue obligations issuance Lease agreements 4,319,070 Subscription-based IT arrangements (SBITA) Total other financing sources (uses) 22,673,155 55,000,000 183,451,510 332,873,267 Net change in fund balances (16,098) 14,178,110 17,607,207 108,615,870 248,989,781 Fund balances (deficit), July 1, 2024 Change in nonspendable resources: Increase (decrease) in inventories 1,103,295 54,419,472 27,316,497 211,996,539 526,502,473 Fund balances (deficit), June 30, 2025 559,438 $ 1,087,197 $ 68,597,582 179 $ 44,923,704 $ 320,612,409 $ 776,051,692 180 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Fines and forfeits Interest income Total revenues 6,252,591 $ 6,252,591 $ 7,114,444 $ 861,853 2,063,688 21,396 2,063,688 21,396 2,157,338 251,318 93,650 229,922 8,337,675 8,337,675 9,523,100 1,185,425 EXPENDITURES Current: 9,137,675 9,137,675 8,286,751 850,924 Total expenditures 9,137,675 9,137,675 8,286,751 850,924 Excess (deficiency) of revenues over expenditures (800,000) (800,000) 1,236,349 2,036,349 Net change in fund balances (800,000) (800,000) 1,236,349 2,036,349 Public safety Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 4,569,514 3,769,514 181 $ 4,569,514 3,769,514 $ 4,902,282 6,138,631 $ 332,768 2,369,117 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ $ $ Interest income Intergovernmental Total revenues 553 $ 553 2,544,237 2,035,685 24,180 2,200,997 24,180 165,312 2,544,237 2,035,685 2,225,730 190,045 EXPENDITURES Current: 3,370,425 2,804,368 2,253,912 550,456 Total expenditures 3,370,425 2,804,368 2,253,912 550,456 Deficiency of revenues under expenditures (826,188) (768,683) (28,182) 740,501 Net change in fund balances (826,188) (768,683) (28,182) 740,501 Fund balance (deficit) July 1, 2024 166,158 (660,030) 166,158 (602,525) (2,028) (30,210) (168,186) 572,315 Public Safety Fund balance deficit June 30, 2025 $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Fines & forfeit 864,000 $ 244,000 Interest income 864,000 $ 243,996 841,425 $ (22,575) 109,951 (134,045) 200,000 200,004 591,417 391,413 13,685,400 56,600 13,685,400 56,600 13,987,639 19,563 302,239 (37,037) 15,050,000 15,050,000 15,549,995 499,995 20,531,800 360,000 20,531,800 360,000 16,833,919 3,697,881 360,000 Total expenditures 20,891,800 20,891,800 16,833,919 4,057,881 Deficiency of revenues under expenditures (5,841,800) (5,841,800) (1,283,924) 4,557,876 Net change in fund balances (5,841,800) (5,841,800) (1,283,924) 4,557,876 Licenses and permits Miscellaneous Total revenues EXPENDITURES Current: Health welfare and sanitation Capital outlay Fund balance, July 1, 2024 Fund balance, June 30, 2025 10,230,338 $ 4,388,538 183 10,230,338 $ 4,388,538 10,937,169 $ 9,653,245 706,831 $ 5,264,707 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 6,327,744 $ 6,327,744 $ 4,318,283 $ (2,009,461) 6,327,744 6,327,744 4,318,283 (2,009,461) 6,203,744 124,000 6,203,748 123,996 4,287,547 1,916,201 123,996 6,327,744 6,327,744 4,287,547 2,040,197 30,736 30,736 30,736 30,736 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, 2024 Fund balance deficit June 30, 2025 $ (711,938) (711,938) 184 $ (711,938) (711,938) $ (617,270) (586,534) $ 94,668 125,404 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 304,100 427,567 2,748 870,880 304,100 427,567 873,628 446,061 304,100 477,567 477,269 298 304,100 477,567 477,269 298 Excess (deficiency) of revenues over expenditures (50,000) 396,359 446,359 Net change in fund balances (50,000) 396,359 446,359 Miscellaneous Total revenues $ $ $ 2,748 443,313 EXPENDITURES Current: Health welfare and sanitation Total expenditures Fund balance, July 1, 2024 Fund balance (deficit), June 30, 2025 293 293 $ 185 $ 293 (49,707) $ 50,500 446,859 $ 50,207 496,566 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ $ Total revenues 308,590 $ 241,490 $ (67,100) 308,590 241,490 (67,100) 308,590 241,490 67,100 308,590 241,490 67,100 EXPENDITURES Current: Health welfare and sanitation Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ $ 186 $ $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 5,909,128 Fines & forfeit $ 2,500 6,085,757 $ 2,500 Interest income Licenses and permits 5,465,647 $ (620,110) 751 (1,749) (40,260) (40,260) 7,339,690 90,484 7,163,061 90,484 4,833,350 73,157 (2,329,711) (17,327) 13,341,802 13,341,802 10,332,645 (3,009,157) 21,431,125 23,149,894 83,950 19,936,148 128,266 3,213,746 (44,316) Total expenditures 21,431,125 23,233,844 20,064,414 3,169,430 Deficiency of revenues under expenditures (8,089,323) (9,892,042) (9,731,769) 160,273 8,089,323 9,808,092 9,808,092 8,089,323 9,808,092 9,808,092 (83,950) 76,323 160,273 Fund balance July 1, 2024 150,484 150,484 Decrease in inventories (83,950) (23,545) 203,262 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 (deficit), June 30, 2025 $ $ 187 $ $ (23,545) 287,212 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Ballpark Operations Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Licenses and permits $ 250,000 $ 250,000 Miscellaneous 106,499 $ 106,499 250,000 7 7 250,000 250,000 356,506 106,506 Culture and recreation 250,000 358,475 358,474 1 Total expenditures 250,000 358,475 358,474 1 (108,475) (1,968) 106,507 (108,475) (1,968) 106,507 1,985,950 1,877,475 2,031,205 2,029,237 Total revenues EXPENDITURES Current: Deficiency of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 1,985,950 1,985,950 188 $ $ $ 45,255 151,762 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Cactus League Operations– Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income $ 9,500,000 9,500,000 9,403 7,413,735 9,500,000 9,500,000 7,423,138 (2,076,862) Culture and recreation 9,500,000 9,500,000 7,425,536 2,074,464 Total expenditures 9,500,000 9,500,000 7,425,536 2,074,464 (2,398) (2,398) Taxes Total revenues $ $ $ 9,403 (2,086,265) EXPENDITURES Current: Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 68,343 68,343 $ 189 $ 68,343 68,343 $ (2,398) (2,398) 85,896 83,498 17,553 15,155 $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Check Enforcement Program– Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ 29,500 2,500 Interest income Total revenues $ 29,500 2,500 $ 4,261 6,478 $ (25,239) 3,978 32,000 32,000 10,739 (21,261) EXPENDITURES Current: 65,842 65,842 57,885 7,957 Total expenditures 65,842 65,842 57,885 7,957 Deficiency of revenues under expenditures (33,842) (33,842) (47,146) (13,304) Net change in fund balances (33,842) (33,842) (47,146) (13,304) 72,982 39,140 72,982 39,140 68,572 21,426 Public Safety Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 190 $ $ $ (4,410) (17,714) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Child Support Enhancement– Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 31,000 $ 31,000 $ Interest Income Total revenues 79,278 $ (31,000) 79,278 31,000 31,000 79,278 48,278 EXPENDITURES Current: 500,000 500,000 38,409 461,591 Total expenditures 500,000 500,000 38,409 461,591 Excess (deficiency) of revenues over expenditures (469,000) (469,000) 40,869 509,869 Net change in fund balances (469,000) (469,000) 40,869 509,869 Public safety Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 1,004,591 535,591 191 $ 1,004,591 535,591 $ 1,521,192 1,562,061 $ 516,601 1,026,470 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,725,437 $ 1,782,678 $ Interest income Total revenues 1,782,678 7,764 1,725,437 1,782,678 1,790,442 1,725,437 1,782,678 1,782,678 1,725,437 1,782,678 1,782,678 $ 7,764 7,764 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures 7,764 7,764 Net change in fund balances 7,764 7,764 Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ $ 192 $ 1,569 9,333 $ 1,569 9,333 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, 2025 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 $ 945,014 945,014 $ (473,403) (473,403) EXPENDITURES Current: 1,418,417 1,418,417 949,155 469,262 1,418,417 1,418,417 949,155 469,262 Excess (deficiency) of revenues over expenditures (4,141) (4,141) Net change in fund balances (4,141) (4,141) Public safety Total expenditures Fund deficit, July 1, 2024 Fund deficit, June 30, 2025 $ (185,012) (185,012) 193 $ (185,012) (185,012) $ (73,050) (77,191) $ 111,962 107,821 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 780,000 $ 780,000 $ Interest income Total revenues 1,017,298 150,510 $ 237,298 150,510 780,000 780,000 1,167,808 387,808 1,780,000 1,780,000 857,278 922,722 1,780,000 1,780,000 857,278 922,722 (1,000,000) (1,000,000) 310,530 1,310,530 (1,000,000) (1,000,000) 310,530 1,310,530 2,666,067 1,666,067 2,666,067 1,666,067 2,921,194 3,231,724 EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 194 $ $ $ 255,127 1,565,657 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 3,070,000 $ 3,070,000 $ Interest income 3,666,783 $ 596,783 45,000 45,000 145,169 72,187 3,115,000 3,115,000 3,884,139 769,139 4,575,000 610,000 4,575,000 610,000 3,685,297 395,957 889,703 214,043 Total expenditures 5,185,000 5,185,000 4,081,254 1,103,746 Deficiency of revenues under expenditures (2,070,000) (2,070,000) (197,115) 1,872,885 Net change in fund balances (2,070,000) (2,070,000) (197,115) 1,872,885 Miscellaneous Total revenues 145,169 27,187 EXPENDITURES Current: Public Safety Capital Outlay Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 2,080,647 10,647 195 $ 2,080,647 10,647 $ 2,834,863 2,637,748 $ 754,216 2,627,101 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, 2025 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 $ 1,459,471 72,720 $ (122,501) 71,330 1,583,362 1,583,362 1,532,191 (51,171) EXPENDITURES Current: 2,083,362 2,083,362 1,617,478 465,884 Total expenditures 2,083,362 2,083,362 1,617,478 465,884 Deficiency of revenues under expenditures (500,000) (500,000) (85,287) 414,713 Net change in fund balances (500,000) (500,000) (85,287) 414,713 Public safety Fund balance, July 1, 2024 Fund balance, June 30, 2025 1,558,393 1,058,393 $ 196 $ 1,558,393 1,058,393 $ 1,508,564 1,423,277 $ (49,829) 364,884 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Miscellaneous Total revenues 7,200,000 $ 7,200,000 $ 898 6,661,192 $ 898 (538,808) 7,200,000 7,200,000 6,662,090 (537,910) 7,200,000 7,200,000 6,662,090 537,910 7,200,000 7,200,000 6,662,090 537,910 EXPENDITURES Current: Health welfare and sanitation Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 886 886 $ 197 $ 886 886 $ $ (886) (886) 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 1,272,164 14,743 $ 1,272,163 14,744 $ 1,393,922 27,329 $ 121,759 12,585 1,286,907 1,286,907 1,421,251 134,344 EXPENDITURES Current: 1,466,073 1,466,073 1,211,333 254,740 Total expenditures 1,466,073 1,466,073 1,211,333 254,740 Excess (deficiency) of revenues over expenditures (179,166) (179,166) 209,918 389,084 Net change in fund balances (179,166) (179,166) 209,918 389,084 362,609 183,443 362,609 183,443 423,574 633,492 Public safety Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 198 $ $ $ 60,965 450,049 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 7,586,986 $ 11,677,890 $ 8,765,304 $ (2,912,586) 7,586,986 11,677,890 8,765,304 (2,912,586) 7,586,986 11,677,890 8,542,976 167,262 3,134,914 (167,262) 7,586,986 11,677,890 8,710,238 2,967,652 55,066 55,066 EXPENDITURES Current: Public safety Capital Outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2024 Fund deficit, June 30, 2025 $ (475,466) (475,466) 199 $ (475,466) (475,466) $ 55,066 55,066 (815,869) (760,803) (340,403) (285,337) $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ Interest income 1,250,000 $ 175,000 1,250,000 $ 175,000 Intergovernmental Miscellaneous 1,140,614 $ (109,386) 246,256 71,256 7,913 20,209 7,913 20,209 1,414,992 (10,008) 1,425,000 1,425,000 1,921,000 1,931,000 299,805 1,631,195 2,004,000 1,994,000 607,730 167,695 (607,730) 1,826,305 Total expenditures 3,925,000 3,925,000 1,075,230 2,849,770 Excess (deficiency) of revenues over expenditures (2,500,000) (2,500,000) 339,762 2,839,762 Net change in fund balances (2,500,000) (2,500,000) 339,762 2,839,762 4,664,644 2,164,644 4,664,644 2,164,644 7,452,756 7,792,518 Total revenues EXPENDITURES Current: Public safety Debt Service Capital outlay Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 200 $ $ $ 2,788,112 5,627,874 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,080,000 $ 1,080,000 $ Interest income 1,080,000 Total revenues 1,294,528 39,190 $ 214,528 39,190 1,080,000 1,333,718 253,718 1,580,000 1,580,000 1,168,703 411,297 1,580,000 1,580,000 1,168,703 411,297 (500,000) (500,000) 165,015 665,015 (500,000) (500,000) 165,015 665,015 704,423 204,423 704,423 204,423 760,798 925,813 EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 201 $ $ $ 56,375 721,390 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 14,480 876,550 $ 14,480 876,550 $ 44,822 1,062,308 $ 30,342 185,758 891,030 891,030 1,107,130 216,100 977,911 977,911 522,108 455,803 977,911 977,911 522,108 455,803 (86,881) (86,881) 585,022 671,903 671,903 EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (86,881) (86,881) 585,022 826,820 739,939 826,820 739,939 1,180,974 1,765,996 202 $ $ $ 354,154 1,026,057 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, 2025 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 $ 152,314 8,524 $ (40,682) 7,970 193,550 193,550 160,838 (32,712) 193,550 193,550 137,500 56,050 193,550 193,550 137,500 56,050 23,338 23,338 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 266,838 266,838 203 $ 266,838 266,838 $ 23,338 23,338 250,843 274,181 (15,995) 7,343 $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Educational Supplemental Program – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 448,576 $ 448,576 $ 170,647 511,773 $ 170,647 63,197 448,576 448,576 682,420 233,844 849,589 849,589 2,178,297 2,178,297 1,993,239 1,993,239 185,058 185,058 (401,013) (1,729,721) (1,310,819) 418,902 (401,013) (1,729,721) (1,310,819) 418,902 3,048,933 2,647,920 3,048,933 1,319,212 3,719,667 2,408,848 EXPENDITURES Current: Education Total expenditures Deficiency of revenues under expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 204 $ $ $ 670,734 1,089,636 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Elections Grants Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 1,320,106 $ 1,320,106 $ 28,555 529,742 $ 28,555 (790,364) 1,320,106 1,320,106 558,297 (761,809) 42,500 1,277,606 42,503 1,277,603 538,462 19,835 (495,959) 1,257,768 1,320,106 1,320,106 558,297 761,809 EXPENDITURES Current: General government Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 1,262,628 1,262,628 205 $ 1,262,628 1,262,628 $ $ (1,262,628) (1,262,628) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Emergency Management Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Intergovernmental Total revenues 278,186 4,257,934 $ 278,186 5,764,934 $ 282,784 5,565,839 $ 4,598 (199,095) 4,536,120 6,043,120 5,848,623 (194,497) 3,599,661 1,008,000 2,821,552 1,786,109 1,710,675 2,300,038 1,110,877 (513,929) 4,607,661 4,607,661 4,010,713 596,948 (71,541) 1,435,459 1,837,910 402,451 EXPENDITURES Current: Public safety Capital Outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING USES Transfer out Total other financing uses Net change in fund balances Fund deficit, July 1, 2024 Fund deficit, June 30, 2025 $ (1,507,000) 1,507,000 (1,507,000) 1,507,000 (71,541) (71,541) 1,837,910 1,909,451 (1,504,891) (1,576,432) (1,504,891) (1,576,432) (2,865,044) (1,027,134) (1,360,153) 549,298 206 $ $ $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Fines & forfeit 7,168,790 $ 452,533 Interest income Licenses and permits 7,168,790 $ 452,533 $ (586,038) 35,917 (416,616) 598,930 598,930 852,674 253,744 18,097,367 18,097,367 18,739,588 16,964 642,221 16,964 26,317,620 26,317,620 26,227,895 (89,725) 28,105,951 28,105,951 26,796,803 1,309,148 584,967 185,240 (584,967) (185,240) Miscellaneous Total revenues 6,582,752 EXPENDITURES Current: Health welfare and sanitation Debt Service Debt Service Interest Total expenditures 28,105,951 28,105,951 27,567,010 538,941 Deficiency of revenues under expenditures (1,788,331) (1,788,331) (1,339,115) 449,216 40,235 40,235 40,235 40,235 OTHER FINANCING SOURCES Transfer in Total other financing sources Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (1,788,331) (1,748,096) (1,298,880) 449,216 17,658,422 15,870,091 17,658,422 15,910,326 16,724,768 15,425,888 (933,654) (484,438) 207 $ $ $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 635,784 1,716 $ 635,784 1,716 $ 573,620 18,093 $ (62,164) 16,377 637,500 637,500 591,713 (45,787) 637,500 637,500 503,943 133,557 637,500 637,500 503,943 133,557 87,770 87,770 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 511,895 511,895 208 $ 511,895 511,895 $ 87,770 87,770 499,983 587,753 (11,912) 75,858 $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Flood Control Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Taxes $ 78,485,796 $ 78,485,795 $ Charges for services 77,970,526 $ (515,269) 29,650 29,650 4,570,304 3,070,304 Interest income 1,500,000 1,500,000 Intergovernmental 197,987 197,988 402,138 204,150 Licenses and permits 925,000 174,112 925,000 174,112 1,061,618 1,437,405 136,618 1,263,293 81,282,895 81,282,895 85,471,641 4,188,746 46,344,171 41,712,385 36,896,818 4,815,567 243,606 (243,606) Miscellaneous Total revenues EXPENDITURES Current: Public safety Debt Service Debt Service Interest 841,000 1,062,818 44,743 1,376,438 (44,743) (313,620) Total expenditures 47,185,171 42,775,203 38,561,605 4,213,598 Excess of revenues over expenditures 34,097,724 38,507,692 46,910,036 8,402,344 (40,366,361) (40,366,361) (40,366,361) (40,366,361) (40,366,361) (40,366,361) Capital outlay OTHER FINANCING USES Transfers out Total other financing uses Net change in fund balances Fund balance, July 1, 2024 (6,268,637) (1,858,669) 6,543,675 8,402,344 42,372,899 42,372,899 38,465,704 (3,907,195) (12,141) (12,141) Change in nonspendable resources: Decrease in inventories Fund balance, June 30, 2025 $ 36,104,262 209 $ 40,514,230 $ 44,997,238 $ 4,483,008 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 68,000,730 $ 76,957,693 $ 74,775,234 $ (2,182,459) 68,000,730 76,957,693 74,775,234 (2,182,459) 69,289,941 78,246,904 62,686,430 15,560,474 1,437,703 (1,437,703) (499,755) (324,165) EXPENDITURES Current: Health welfare and sanitation Debt service Debt service interest 20,000 20,000 499,755 344,165 Total expenditures 69,309,941 78,266,904 64,968,053 13,298,851 Excess (deficiency) of revenues over expenditures (1,309,211) (1,309,211) 9,807,181 11,116,392 1,928,427 1,928,427 1,288,664 (639,763) 1,928,427 1,928,427 1,288,664 (639,763) 10,476,629 Capital outlay OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund deficit, July 1, 2024 Fund deficit, June 30, 2025 $ 619,216 619,216 11,095,845 (37,270,201) (36,650,985) (37,270,201) (36,650,985) (17,401,253) (6,305,408) 210 $ $ $ 19,868,948 30,345,577 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 340,000 10,200 $ 340,000 10,200 $ 223,227 49,549 $ (116,773) 39,349 350,200 350,200 272,776 (77,424) 381,650 79,950 381,650 79,950 121,960 10,161 259,690 69,789 461,600 461,600 132,121 329,479 (111,400) (111,400) 140,655 252,055 EXPENDITURES Current: Public safety Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (111,400) (111,400) 140,655 252,055 1,087,643 976,243 1,087,643 976,243 928,438 1,069,093 (159,205) 92,850 211 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Inmate Services Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 14,430,072 $ 14,430,072 $ $ (1,926,217) 300,000 1,072,843 7,964 772,843 7,964 14,730,072 14,730,072 13,584,662 (1,145,410) Miscellaneous Total revenues 12,503,855 300,000 EXPENDITURES Current: 17,030,072 17,030,072 14,227,846 2,802,226 Total expenditures 17,030,072 17,030,072 14,227,846 2,802,226 Deficiency of revenues under expenditures (2,300,000) (2,300,000) (643,184) 1,656,816 Public Safety Net change in fund balances Fund balance, July 1, 2024 (2,300,000) (2,300,000) (643,184) 1,656,816 20,296,052 20,296,052 21,263,810 967,758 Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2025 $ 17,996,052 212 $ 17,996,052 $ 175,336 20,795,962 $ 175,336 2,799,910 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ Interest income 729,839 $ 729,839 $ 899,250 $ 7,344 737,183 7,344 737,183 737,183 737,183 623,605 113,578 737,183 113,576 737,181 (113,576) 2 Excess of revenues over expenditures 461,702 461,702 Net change in fund balances 461,702 461,702 Total revenues 299,633 1,198,883 169,411 292,289 461,700 EXPENDITURES Current: Public Safety Capital Outlay 737,183 Total expenditures Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 5,590,132 5,590,132 213 $ 5,590,132 5,590,132 $ 5,794,450 6,256,152 $ 204,318 666,020 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, 2025 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 $ 7,620,969 97,823 $ 836,168 77,207 6,805,417 6,805,417 7,718,792 913,375 7,005,417 7,005,417 6,704,121 65,567 301,296 (65,567) 7,005,417 7,005,417 6,769,688 235,729 (200,000) (200,000) 949,104 1,149,104 1,149,104 EXPENDITURES Current: Public safety Capital Outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (200,000) (200,000) 949,104 1,701,766 1,501,766 1,701,766 1,501,766 2,085,605 3,034,709 214 $ $ $ 383,839 1,532,943 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Justice Reinvestment Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 50,000 3,550,000 $ 50,000 3,550,000 $ 540,864 3,426,165 $ 490,864 (123,835) 3,600,000 3,600,000 3,967,029 367,029 3,600,000 3,600,000 772,518 2,827,482 3,600,000 3,600,000 772,518 2,827,482 3,194,511 3,194,511 3,194,511 3,194,511 EXPENDITURES Current: Health Welfare and Sanitation Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 9,964,131 9,964,131 215 $ 9,964,131 9,964,131 $ 10,151,405 13,345,916 $ 187,274 3,381,785 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 76,216 Interest income Miscellaneous Total revenues $ 76,216 $ 38 $ (76,178) 1,248 18,504 1,248 18,504 4,638 10 3,390 (18,494) 95,968 95,968 4,686 (91,282) 95,968 95,968 95,968 95,968 95,968 95,968 EXPENDITURES Current: Public safety Total expenditures 4,686 Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 150,374 150,374 216 $ 150,374 150,374 $ 4,686 4,686 4,686 139,112 143,798 (11,262) (6,576) $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 12,000 4,091,038 $ 12,000 4,091,038 $ 34,898 3,754,309 $ 22,898 (336,729) 4,103,038 4,103,038 3,789,207 (313,831) EXPENDITURES Current: 4,319,036 4,375,074 3,739,207 635,867 Total expenditures 4,319,036 4,375,074 3,739,207 635,867 Excess (deficiency) of revenues over expenditures (215,998) (272,036) 50,000 322,036 Total other financing uses (15,000) (15,000) (15,000) (15,000) (50,000) (50,000) (35,000) (35,000) Net change in fund balances (230,998) (287,036) 455,007 224,009 455,007 167,971 352,281 352,281 (102,726) 184,310 Public safety OTHER FINANCING USES Transfers out Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 217 $ 287,036 $ $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Fines & forfeit Interest income Total revenues 150,432 $ 150,432 $ 63,863 $ (86,569) 1,652,248 8,568 1,652,248 8,568 2,143,635 103,301 491,387 94,733 1,811,248 1,811,248 2,310,799 499,551 EXPENDITURES Current: 2,111,248 2,111,248 1,811,232 300,016 Total expenditures 2,111,248 2,111,248 1,811,232 300,016 Excess (deficiency) of revenues over expenditures (300,000) (300,000) 499,567 799,567 Public Safety Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (300,000) (300,000) 499,567 799,567 1,996,270 1,696,270 1,996,270 1,696,270 1,884,040 2,383,607 (112,230) 687,337 218 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Juvenile Restitution Fund – Special Revenue Fund Year Ended June 30, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income $ $ $ Total revenues 6,090 $ 6,090 6,090 6,090 EXPENDITURES Current: 50,000 50,000 45,000 5,000 Total expenditures 50,000 50,000 45,000 5,000 Deficiency of revenues under expenditures (50,000) (50,000) (38,910) 11,090 15,000 15,000 50,000 35,000 15,000 15,000 50,000 35,000 46,090 Public safety OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (35,000) (35,000) 11,090 197,906 162,906 197,906 162,906 191,466 202,556 219 $ $ $ (6,440) 39,650 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 4,356,505 Interest Income $ 4,356,505 $ $ 786,379 69,634 156,708 35,693 87,074 35,693 4,426,139 4,426,139 5,335,285 909,146 6,251,139 389,500 6,251,139 389,500 4,798,841 439,516 1,452,298 (50,016) 6,640,639 6,640,639 5,238,357 1,402,282 (2,214,500) (2,214,500) 96,928 2,311,428 (2,214,500) (2,214,500) 96,928 2,311,428 3,121,030 906,530 3,121,030 906,530 3,352,814 3,449,742 Miscellaneous Total revenues 5,142,884 69,634 EXPENDITURES Current: Culture and recreation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 220 $ $ $ 231,784 2,543,212 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, 2025 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 $ 1,801,122 $ 355,374 514 22,536 514 22,536 3 50,558 (511) 28,022 1,468,798 1,468,798 1,851,683 382,885 1,468,798 1,468,798 1,194,146 274,652 1,468,798 1,468,798 1,194,146 274,652 657,537 657,537 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures OTHER FINANCING USES (100,000) (100,000) (100,000) Total other financing uses (100,000) (100,000) (100,000) Net change in fund balances (100,000) (100,000) 557,537 840,749 740,749 840,749 740,749 930,380 1,487,917 Transfers out Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 221 $ $ 657,537 $ 89,631 747,168 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Library District Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 7,285,700 $ 7,285,700 $ 5,744,392 $ (1,541,308) Fines & forfeit 195,000 195,000 220,787 25,787 Interest income 900,000 900,000 1,539,245 639,245 Intergovernmental 408,880 408,880 350,729 (58,151) 317,769 27,167,753 317,769 27,167,753 150,079 26,933,575 (167,690) (234,178) 36,275,102 36,275,102 34,938,807 (1,336,295) 38,232,859 125,000 38,232,859 125,000 32,157,772 33,748 6,075,087 91,252 Total expenditures 38,357,859 38,357,859 32,191,520 6,166,339 Excess (deficiency) of revenues over expenditures (2,082,757) (2,082,757) 2,747,287 4,830,044 Miscellaneous Taxes Total revenues EXPENDITURES Current: Culture and recreation Capital outlay OTHER FINANCING SOURCES (10,000,000) (10,000,000) (10,000,000) Total other financing sources (10,000,000) (10,000,000) (10,000,000) Net change in fund balances (12,082,757) (12,082,757) (7,252,713) 27,418,220 15,335,463 27,418,220 15,335,463 27,841,586 20,588,873 Transfers out Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 222 $ $ 4,830,044 $ 423,366 5,253,410 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 25,000 $ 25,000 $ 50,000 $ 25,000 25,000 25,000 50,000 25,000 Culture and recreation 25,000 25,000 24,999 1 Total expenditures 25,000 25,000 24,999 1 25,001 25,001 25,001 25,001 Total revenues EXPENDITURES Current: Excess of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2024 Fund balance (deficit), June 30, 2025 $ (25,001) (25,001) 223 $ (25,001) (25,001) (25,001) $ $ 25,001 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Medical Examiner Grants – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 2,500 117,927 $ 2,500 616,916 $ 1,596 110,624 $ (904) (506,292) 120,427 619,416 112,220 (507,196) 4,595 115,832 408,091 211,325 112,220 295,871 211,325 120,427 619,416 112,220 507,196 EXPENDITURES Current: Health welfare and sanitation Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ $ 224 $ $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Miscellaneous 2,500,000 101,000,000 $ 7,500,000 4,287,417 $ 2,479,134 $ (5,020,866) (4,287,417) 103,500,000 11,787,417 2,479,134 (9,308,283) General government 9,500,000 23,639,843 2,479,134 21,160,709 Public Safety 92,000,000 2,000,000 2,000,000 103,500,000 25,639,843 2,479,134 23,160,709 Total revenues EXPENDITURES Current: Education Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance (deficit), June 30, 2025 $ 1,253,077 1,253,077 225 $ 2,000,000 (13,852,426) 13,852,426 (13,852,426) 13,852,426 1,253,077 (12,599,349) $ $ (1,253,077) 12,599,349 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & Forfeit $ 25,000 $ 25,000 $ Interest income Total revenues 52,126 5,068 $ 27,126 5,068 25,000 25,000 57,194 32,194 EXPENDITURES Current: 125,000 125,000 34,238 90,762 Total expenditures 125,000 125,000 34,238 90,762 Excess (deficiency) of revenues over expenditures (100,000) (100,000) 22,956 122,956 Net change in fund balances (100,000) (100,000) 22,956 122,956 136,636 36,636 136,636 36,636 161,887 184,843 Public Safety Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 226 $ $ $ 25,251 148,207 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Palo Verde Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental 10,000 $ 10,000 $ 58,035 $ 48,035 900,433 910,433 900,433 910,433 900,433 958,468 48,035 Total expenditures 970,433 970,433 970,433 970,433 937,019 937,019 33,414 33,414 Excess (deficiency) of revenues over expenditures (60,000) (60,000) 21,449 81,449 Total revenues EXPENDITURES Current: Public Safety Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (60,000) (60,000) 21,449 81,449 1,100,977 1,040,977 1,100,977 1,040,977 1,068,787 1,090,236 (32,190) 49,259 227 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Donations Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Miscellaneous 5,838 32,309 $ 5,831 32,316 $ 31,330 40,618 $ 25,499 8,302 38,147 38,147 71,948 33,801 Total expenditures 93,147 93,147 93,147 93,147 13,062 13,062 80,085 80,085 Excess (deficiency) of revenues over expenditures (55,000) (55,000) 58,886 113,886 113,886 Total revenues EXPENDITURES Current: Culture and recreation Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (55,000) (55,000) 58,886 569,238 514,238 569,238 514,238 593,366 652,252 228 $ $ $ 24,128 138,014 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Enhancement– Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 7,499,122 $ 7,499,130 $ 7,313,377 $ (185,753) 45,000 44,992 67,945 59,079 22,953 59,079 7,544,122 7,544,122 7,440,401 (103,721) 8,474,122 345,500 8,474,122 345,500 7,800,806 591,570 673,316 (246,070) Total expenditures 8,819,622 8,819,622 8,392,376 427,246 Deficiency of revenues under expenditures (1,275,500) (1,275,500) (951,975) 323,525 Net change in fund balances (1,275,500) (1,275,500) (951,975) 323,525 1,736,184 460,684 1,736,184 460,684 1,624,990 673,015 (111,194) 212,331 Miscellaneous Total revenues EXPENDITURES Current: Culture and recreation Capital outlay Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 229 $ $ $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 26,000 $ 26,000 Total revenues 26,000 $ 26,000 280,604 $ 280,604 254,604 254,604 EXPENDITURES Current: Culture and recreation $ 26,000 $ 26,000 Total expenditures 26,000 $ 26,000 Excess of revenues over expenditures Net change in fund balances Fund deficit July 1, 2024 Fund deficit June 30, 2025 (182,765) $ (182,765) 230 (182,765) $ (182,765) 26,000 26,000 280,604 280,604 280,604 280,604 (280,604) $ (97,839) $ 182,765 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Souvenir Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 349,300 700 $ 349,304 696 $ 326,861 267 $ (22,443) (429) 350,000 350,000 327,128 (22,872) 350,000 350,000 350,000 350,000 327,130 327,130 22,870 22,870 (2) (2) EXPENDITURES Current: Culture and recreation Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 24,801 $ 24,801 231 24,801 $ 24,801 $ (2) (2) 24,842 41 24,840 $ 39 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Pension Reserve Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES Current: Public Safety $ $ 86,000,000 $ Debt Service Other Total expenditures Excess (deficiency) of revenues over expenditures 85,560,000 $ 440,000 86,000,000 438,550 85,998,550 (438,550) 1,450 (86,000,000) (85,998,550) 1,450 (1,450) (1,450) 180,000,000 180,000,000 180,000,000 179,998,550 (1,450) 94,000,000 94,000,000 OTHER FINANCING SOURCES (USES) Transfers Out Bond Proceeds Total other financing source (uses) Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 233,282 233,282 232 $ 233,282 94,233,282 $ 94,000,000 $ (233,282) (233,282) 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 8,877,543 $ 8,877,539 $ 12,245,819 $ 3,368,280 Fines & forfeit 44,463 44,463 114,907 70,444 Interest income 63,756 63,756 2,597,088 2,533,332 9,213,981 33,996 9,213,981 34,000 13,739,278 2,407 4,525,297 (31,593) 18,233,739 18,233,739 28,699,499 10,465,760 21,457,396 21,457,396 19,164,657 2,292,739 Licenses and permits Miscellaneous Total revenues EXPENDITURES Current: Public safety Debt Service 328,365 (328,365) Debt Service Interest (104,114) 118,947 120,000 120,000 104,114 1,053 Total expenditures 21,577,396 21,577,396 19,598,189 1,979,207 Excess (deficiency) of revenues over expenditures (3,343,657) (3,343,657) 9,101,310 12,444,967 12,444,967 Capital outlay Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (3,343,657) (3,343,657) 9,101,310 44,202,574 40,858,917 44,202,574 40,858,917 48,347,713 57,449,023 233 $ $ $ 4,145,139 16,590,106 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Probate Fees Fund – Special Revenue Fund Year Ended June 30, 2025 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 $ 384,403 9,924 $ (6,397) 8,724 392,000 392,000 394,327 2,327 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) 35,012 130,012 130,012 Public safety Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (95,000) (95,000) 35,012 243,668 148,668 243,668 148,668 280,909 315,921 234 $ $ $ 37,241 167,253 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,285,582 $ 1,285,582 $ Interest income Total revenues 1,341,395 87,260 $ 55,813 87,260 1,285,582 1,285,582 1,428,655 143,073 EXPENDITURES Current: 1,842,228 1,842,228 1,713,206 129,022 Total expenditures 1,842,228 1,842,228 1,713,206 129,022 Deficiency of revenues under expenditures (556,646) (556,646) (284,551) 272,095 Net change in fund balances (556,646) (556,646) (284,551) 272,095 665,417 665,417 1,433,270 767,853 Public safety Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 108,771 235 $ 108,771 $ 1,148,719 $ 1,039,948 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 2,911,264 $ 2,911,264 $ 385,550 2,682,546 $ 385,550 (228,718) 2,911,264 2,911,264 3,068,096 156,832 EXPENDITURES Current: 4,911,264 4,911,264 3,056,349 1,854,915 Total expenditures 4,911,264 4,911,264 3,056,349 1,854,915 Excess (deficiency) of revenues over expenditures (2,000,000) (2,000,000) 11,747 2,011,747 Net change in fund balances (2,000,000) (2,000,000) 11,747 2,011,747 Fund balance (deficit), July 1, 2024 8,353,089 6,353,089 8,353,089 6,353,089 (11,747) (8,364,836) (6,353,089) Public Safety Fund balance, June 30, 2025 $ 236 $ $ $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Miscellaneous Total revenues $ $ 5,096 $ 5,096 153,583 12,966 153,583 12,966 234,773 1,265 81,190 (11,701) 166,549 166,549 241,134 74,585 226,928 226,928 175,241 51,687 226,928 226,928 175,241 51,687 (60,379) (60,379) 65,893 126,272 (60,379) (60,379) 65,893 126,272 60,379 60,379 104,312 170,205 EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ $ 237 $ $ 43,933 170,205 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, 2025 Variance with Final Budget Budgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 10,752,086 Interest income 10,752,086 $ 9,276,781 $ (1,475,305) 75,000 3,120 485,057 19,742 410,057 16,622 10,830,206 10,830,206 9,781,580 (1,048,626) 10,966,706 10,966,702 Miscellaneous Total revenues $ 75,000 3,120 EXPENDITURES Current: 9,143,251 1,823,451 Debt service Health welfare and sanitation 211,021 (211,021) Debt service interest (47,721) 437,827 Capital outlay Total expenditures Deficiency of revenues under expenditures 556,100 1,206,104 47,721 768,277 11,522,806 12,172,806 10,170,270 2,002,536 (692,600) (1,342,600) (388,690) 953,910 OTHER FINANCING SOURCES Transfers in 5,000 5,000 (5,000) 5,000 5,000 (5,000) Net change in fund balances (687,600) (1,337,600) (388,690) 948,910 Fund balance, July 1, 2024 8,476,960 8,476,960 9,625,975 1,149,015 Total other financing sources Change in nonspendable resources: 18,406 Increase in inventories Fund balance, June 30, 2025 $ 7,789,360 238 $ 7,139,360 $ 9,255,691 18,406 $ 2,116,331 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 96,594,711 $ 88,025,644 $ Miscellaneous $ (11,771,860) 8,569,067 602 1,714,663 602 (6,854,404) 96,594,711 96,594,711 77,969,049 (18,625,662) 96,585,796 96,585,796 Settlement Revenue Total revenues 76,253,784 EXPENDITURES Current: 77,179,991 19,405,805 Debt service Health welfare and sanitation 74,816 (74,816) Debt service interest (31,778) (51,547) 8,915 8,915 31,778 60,462 96,594,711 96,594,711 77,347,047 19,247,664 622,002 622,002 Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2024 (26,919,355) (26,919,355) 622,002 622,002 (7,441,034) 19,478,321 Change in nonspendable resources: Increase in inventories Fund deficit, June 30, 2025 $ (26,919,355) 239 $ (26,919,355) $ 24,042 (6,794,990) $ 24,042 20,124,365 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Recorder’s Grants– Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income Intergovernmental $ 5,660,419 $ 5,891,971 $ 61,313 1,111,465 $ 61,313 (4,780,506) Total revenues 5,660,419 5,891,971 1,172,778 (4,719,193) General Government 5,660,419 5,891,971 1,079,343 4,812,628 Total expenditures 5,660,419 5,891,971 1,079,343 4,812,628 93,435 93,435 EXPENDITURES Current: Excess of revenues over expenditures Net change in fund balances 93,435 93,435 Fund balance (deficit), July 1, 2024 (188,552) (95,117) (188,552) (95,117) Fund balance (deficit), June 30, 2025 $ $ 240 $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Recorder’s Surcharge– Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest Income Total revenues 2,150,000 10,000 $ 2,150,004 9,996 $ 2,775,284 79,801 $ 625,280 69,805 2,160,000 2,160,000 2,855,085 695,085 2,160,000 2,160,000 880,017 1,279,983 2,160,000 2,160,000 880,017 1,279,983 1,975,068 1,975,068 1,975,068 1,975,068 EXPENDITURES Current: General Government Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 675,391 675,391 241 $ 675,391 675,391 $ 1,349,112 3,324,180 $ 673,721 2,648,789 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Communication Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ $ $ Interest income Intergovernmental Total revenues 899,377 $ 899,377 24,367 24,367 877,464 877,464 877,464 877,464 328,321 1,252,065 (549,143) 374,601 EXPENDITURES Current: 2,015,415 2,015,415 1,842,657 172,758 Total expenditures 2,015,415 2,015,415 1,842,657 172,758 Deficiency of revenues under expenditures (1,137,951) (1,137,951) (590,592) 547,359 Net change in fund balances (1,137,951) (1,137,951) (590,592) 547,359 2,230,895 1,092,944 2,230,895 1,092,944 1,453,345 862,753 (777,550) (230,191) Education Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 242 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Grants Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 5,640,085 $ 5,676,090 $ 6,530,207 $ 854,117 5,640,085 5,676,090 6,530,207 854,117 5,643,777 5,679,782 4,628,127 1,051,655 5,643,777 5,679,782 4,628,127 1,051,655 (3,692) (3,692) 1,902,080 1,905,772 1,905,772 EXPENDITURES Current: Education Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2024 Fund deficit, June 30, 2025 $ (3,692) (3,692) 1,902,080 (1,376,714) (1,380,406) (1,376,714) (1,380,406) (1,913,396) (11,316) 243 $ $ $ (536,682) 1,369,090 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Transportation Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 19,368 $ 19,368 $ 10,624 5,224 $ 10,624 (14,144) 19,368 19,368 15,848 (3,520) EXPENDITURES Current: 610,028 610,028 17,874 592,154 Total expenditures 610,028 610,028 17,874 592,154 Deficiency of revenues under expenditures (590,660) (590,660) (2,026) 588,634 Net change in fund balances (590,660) (590,660) (2,026) 588,634 605,956 15,296 605,956 15,296 600,158 598,132 Education Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 244 $ $ $ (5,798) 582,836 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Donations Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines and forfeits $ Interest income 10,000 $ 9,996 $ 1,352 $ (8,644) 10,000 30,000 9,996 30,008 29,390 22,381 19,394 (7,627) 50,000 50,000 53,123 3,123 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) 560,663 450,663 Miscellaneous Total revenues EXPENDITURES Current: Public safety Capital outlay Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 245 $ 53,123 163,123 (110,000) 53,123 163,123 560,663 450,663 557,093 610,216 $ $ (3,570) 159,553 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Grants Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 160,000 Intergovernmental $ 159,996 $ 547,797 $ 387,801 5,474,044 5,474,048 4,689,038 55,132 (785,010) 55,132 5,634,044 5,634,044 5,291,967 (342,077) 15,931,333 858,729 15,931,331 858,731 4,129,513 888,324 11,801,818 (29,593) Total expenditures 16,790,062 16,790,062 5,017,837 11,772,225 Excess (deficiency) of revenues over expenditures (11,156,018) (11,156,018) 274,130 11,430,148 Net change in fund balances (11,156,018) (11,156,018) 274,130 11,430,148 Fund balance (deficit), July 1, 2024 988,243 (10,167,775) 988,243 (10,167,775) (780,955) (506,825) Miscellaneous Total revenues EXPENDITURES Current: Public safety Capital Outlay Fund deficit, June 30, 2025 $ 246 $ $ $ (1,769,198) 9,660,950 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental 94,188 1,005,918 $ 94,188 1,005,918 $ 235,342 1,114,999 $ 141,154 109,081 1,100,106 1,100,106 1,350,341 250,235 1,100,106 2,900,000 1,100,106 2,900,000 627,267 472,839 2,900,000 Total expenditures 4,000,106 4,000,106 627,267 3,372,839 Excess (deficiency) of revenues over expenditures (2,900,000) (2,900,000) 723,074 3,623,074 Net change in fund balances (2,900,000) (2,900,000) 723,074 3,623,074 4,335,685 1,435,685 4,335,685 1,435,685 4,397,176 5,120,250 Total revenues EXPENDITURES Current: Public safety Capital Outlay Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 247 $ $ $ 61,491 3,684,565 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff RICO Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ Total revenues 523,651 $ 523,651 $ 131,283 $ (392,368) 523,651 523,651 131,283 (392,368) 523,651 523,651 131,317 392,334 523,651 523,651 131,317 392,334 (34) (34) (34) (34) EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 60,000 60,000 248 $ 60,000 60,000 $ 60,000 59,966 $ (34) 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Miscellaneous Total revenues 50,000 $ 50,000 $ 702 68,457 $ 702 18,457 50,000 50,000 69,159 19,159 50,000 50,000 50,001 (1) 50,000 50,000 50,001 (1) 19,158 19,158 19,158 19,158 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 33,449 33,449 249 $ 33,449 33,449 $ 35,099 54,257 $ 1,650 20,808 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income Intergovernmental $ 109,656 $ 109,656 $ 7,801 109,657 $ 7,801 1 Total revenues 109,656 109,656 117,458 7,802 EXPENDITURES Current: 125,460 125,460 124,363 1,097 Total expenditures 125,460 125,460 124,363 1,097 Deficiency of revenues under expenditures (15,804) (15,804) (6,905) 8,899 8,899 Education Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (15,804) (15,804) (6,905) 214,339 198,535 214,339 198,535 215,988 209,083 250 $ $ $ 1,649 10,548 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 108,000 $ 108,000 $ Interest income Total revenues 102,502 6,368 $ (5,498) 6,368 108,000 108,000 108,870 870 EXPENDITURES Current: 138,000 149,000 146,505 2,495 Total expenditures 138,000 149,000 146,505 2,495 Deficiency of revenues under expenditures (30,000) (41,000) (37,635) 3,365 Public safety Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ (30,000) (41,000) (37,635) 3,365 191,300 161,300 191,300 150,300 187,505 149,870 (3,795) (430) 251 $ $ $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 343,912 3,000 $ 343,912 3,000 $ 303,674 11,653 $ (40,238) 8,653 346,912 346,912 315,327 (31,585) 446,912 25,000 446,916 24,996 377,091 69,825 24,996 471,912 471,912 377,091 94,821 (125,000) (125,000) (61,764) 63,236 (125,000) (125,000) (61,764) 63,236 239,061 114,061 239,061 114,061 376,112 314,348 137,051 200,287 EXPENDITURES Current: Culture and recreation Capital Outlay Total expenditures Deficiency of revenues under expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 252 $ $ $ 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income $ $ $ Total revenues 34,541 $ 34,541 34,541 34,541 EXPENDITURES Current: 653,788 846,128 55 846,073 Total expenditures 653,788 846,128 55 846,073 Excess (deficiency) of revenues over expenditures (653,788) (846,128) 34,486 880,614 100,000 100,000 100,000 Total other financing sources 100,000 100,000 100,000 Net change in fund balances (553,788) (746,128) 134,486 658,902 105,114 658,902 (87,226) 747,251 881,737 Public safety OTHER FINANCING SOURCES Transfers in Fund balance, July 1, 2024 Fund balance (deficit), June 30, 2025 $ 253 $ $ 880,614 $ 88,349 968,963 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 1,725,674 4,179 $ 1,782,679 $ 1,782,678 34,310 $ (1) 34,310 1,729,853 1,782,679 1,816,988 34,309 1,729,853 2,028,448 1,499,925 528,523 1,729,853 2,028,448 1,499,925 528,523 (245,769) 317,063 562,832 EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances 51,265 Fund balance, July 1, 2024 Fund balance (deficit), June 30, 2025 $ 51,265 254 $ (245,769) 317,063 562,832 51,265 207,698 156,433 (194,504) $ 524,761 $ 719,265 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,529,641 Interest income Intergovernmental 1,529,641 $ 1,222,909 $ (306,732) 1,512 93,586 92,074 4,328,961 4,607,951 4,737,976 130,025 12,000 12,000 12,000 5,872,114 6,151,104 6,066,471 Miscellaneous Total revenues $ 1,512 (84,633) EXPENDITURES Current: Public safety 8,641,852 8,804,292 5,981,824 2,822,468 8,641,852 8,804,292 5,981,824 2,822,468 (2,769,738) (2,653,188) 84,647 2,737,835 Net change in fund balances (2,769,738) (2,653,188) 84,647 2,737,835 Fund balance (deficit), July 1, 2024 3,347,863 3,347,863 (153,298) (3,501,161) Total expenditures Excess (deficiency) of revenues over expenditures Fund balance (deficit), June 30, 2025 $ 578,125 255 $ 694,675 $ (68,651) $ (763,326) 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 495,411 29,316 $ 495,411 29,316 $ 614,183 51,515 $ 118,772 22,199 524,727 524,727 665,698 140,971 EXPENDITURES Current: 1,049,727 1,049,727 450,741 598,986 Total expenditures 1,049,727 1,049,727 450,741 598,986 Excess (deficiency) of revenues over expenditures (525,000) (525,000) 214,957 739,957 Net change in fund balances (525,000) (525,000) 214,957 739,957 972,074 447,074 972,074 447,074 980,342 1,195,299 Public Safety Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 256 $ $ $ 8,268 748,225 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, 2025 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 $ 6,031,311 $ 1,123,763 4,992 19,740 4,992 19,740 270,262 9,524 265,270 (10,216) 4,932,280 4,932,280 6,311,097 1,378,817 EXPENDITURES Current: 5,777,280 5,777,280 4,642,367 1,134,913 Total expenditures 5,777,280 5,777,280 4,642,367 1,134,913 Excess (deficiency) of revenues over expenditures (845,000) (845,000) 1,668,730 2,513,730 (845,000) (845,000) 1,668,730 2,513,730 4,330,525 3,485,525 4,330,525 3,485,525 5,008,785 6,677,515 Public safety Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 257 $ $ $ 678,260 3,191,990 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Taxpayer Information Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 125,000 $ 125,000 $ Interest income 302,622 36,502 $ 177,622 36,502 125,000 125,000 339,124 214,124 General government 125,000 125,000 120,000 5,000 Total expenditures 125,000 125,000 120,000 5,000 219,124 219,124 Total revenues EXPENDITURES Current: Excess of revenues over expenditures OTHER FINANCING USES (500,000) (500,000) Total other financing uses (500,000) (500,000) Net change in fund balances (500,000) (280,876) Transfers out Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 894,280 894,280 258 $ 894,280 394,280 $ 820,877 540,001 219,124 $ (73,403) 145,721 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Transportation Grants Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 6,854,725 6,854,725 $ 6,854,725 6,854,725 $ 1,417,552 1,417,552 $ (5,437,173) (5,437,173) EXPENDITURES Current: Highways and streets 6,854,725 7,147,248 1,399,976 5,747,272 Total expenditures 6,854,725 7,147,248 1,399,976 5,747,272 (292,523) 17,576 310,099 Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance (deficit), July 1, 2024 Fund balance (deficit), June 30, 2025 $ 90,216 90,216 259 $ (292,523) 17,576 310,099 90,216 (202,307) (17,576) (107,792) 202,307 $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Transportation Operations Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 30,000 $ 30,000 $ Interest income 75,218 $ 5,957,277 45,218 5,957,277 Intergovernmental 156,117,777 156,117,777 156,754,772 636,995 Licenses and permits 4,080,000 536,344 4,080,000 536,344 5,354,825 1,327,740 1,274,825 791,396 160,764,121 160,764,121 169,469,832 8,705,711 105,562,272 105,562,272 87,194,234 18,368,038 208,010 (208,010) (68,748) (115,250) Miscellaneous Total revenues EXPENDITURES Current: Highways and streets Debt Service Debt Service Interest 4,495,884 4,495,884 68,748 4,611,134 Total expenditures 110,058,156 110,058,156 92,082,126 17,976,030 Excess of revenues over expenditures 50,705,965 50,705,965 77,387,706 26,681,741 (55,000,000) (55,000,000) (55,000,000) (55,000,000) (55,000,000) (55,000,000) Capital outlay OTHER FINANCING USES Transfers out Total other financing uses Net change in fund balances Fund balance, July 1, 2024 (4,294,035) (4,294,035) 22,387,706 26,681,741 48,086,539 48,086,539 63,223,712 15,137,173 Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2025 $ 43,792,504 260 $ 43,792,504 $ 377,340 85,988,758 $ 377,340 42,196,254 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 25,000 $ 25,000 $ 97,484 $ 72,484 25,000 25,000 97,484 72,484 125,000 125,000 330 124,670 Total expenditures 125,000 125,000 330 124,670 Excess (deficiency) of revenues over expenditures (100,000) (100,000) 97,154 197,154 Net change in fund balances (100,000) (100,000) 97,154 197,154 Total revenues EXPENDITURES Current: Public safety Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 944,461 844,461 261 $ 944,461 844,461 $ 1,020,644 1,117,798 $ 76,183 273,337 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, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ Interest income Total revenues 190,000 20,000 $ 190,000 20,000 210,000 210,000 $ 189,322 46,865 $ 236,187 (678) 26,865 26,187 EXPENDITURES Current: 1,033,613 1,033,613 1,033,613 Total expenditures 1,033,613 1,033,613 1,033,613 Excess (deficiency) of revenues over expenditures (823,613) (823,613) 236,187 1,059,800 Net change in fund balances (823,613) (823,613) 236,187 1,059,800 Public safety Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 823,853 240 262 $ 823,853 240 $ 865,106 1,101,293 $ 41,253 1,101,053 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Victim Location Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final Budget Budgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 2,000 $ 2,000 $ 16,580 $ 14,580 Total revenues 2,000 2,000 16,580 14,580 Excess of revenues over expenditures 2,000 2,000 16,580 14,580 14,580 Net change in fund balances 2,000 2,000 16,580 Fund balance, July 1, 2024 48,792 50,792 48,792 50,792 54,693 71,273 Fund balance, June 30, 2025 $ 263 $ $ $ 5,901 20,481 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Waste Management Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Miscellaneous Total revenues 115,000 $ 115,000 $ 31,339 123,547 115,000 115,000 154,886 $ 31,339 8,547 39,886 EXPENDITURES Current: Health welfare and sanitation Total expenditures Deficiency of revenues under expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 838,377 814,934 197,608 617,326 838,377 814,934 197,608 617,326 (723,377) (699,934) (42,722) 657,212 (723,377) (699,934) (42,722) 657,212 755,984 32,607 755,984 56,050 699,936 657,214 264 $ $ $ (56,048) 601,164 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Waste Tire Fund – Special Revenue Fund Year Ended June 30, 2025 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 101,337 6,433,202 $ 101,337 6,433,202 $ 241,020 6,663,048 $ 139,683 229,846 6,534,539 6,534,539 6,904,068 369,529 6,534,539 6,534,539 4,082,236 48,538 2,452,303 (48,538) 6,534,539 6,534,539 4,130,774 2,403,765 2,773,294 2,773,294 2,773,294 2,773,294 EXPENDITURES Current: Health welfare and sanitation Capital Outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2024 Fund balance, June, 2025 $ 4,049,510 4,049,510 265 $ 4,049,510 4,049,510 $ 4,727,635 7,500,929 $ 678,125 3,451,419 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income $ $ $ Total revenues 134,581 $ 134,581 134,581 134,581 EXPENDITURES Debt Service 117,824,516 796,147 117,824,516 796,147 62,824,516 5,846,781 55,000,000 (5,050,634) Total expenditures 118,620,663 118,620,663 68,671,297 49,949,366 Deficiency of revenues under expenditures (118,620,663) (118,620,663) (68,536,716) 50,083,947 113,395,662 113,395,662 56,184,057 (57,211,605) Total other financing sources 113,395,662 113,395,662 56,184,057 (57,211,605) Net change in fund balances (5,225,001) 19,425,670 14,200,669 (5,225,001) 19,425,670 14,200,669 (12,352,659) 18,626,692 6,274,033 (7,127,658) (798,978) (7,926,636) Debt Service Interest OTHER FINANCING SOURCES Transfers In Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 266 $ $ $ 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ 7,460 $ 7,460 7,460 7,460 6,000,000 6,000,000 3,648,000 3,648,000 2,352,000 2,352,000 (6,000,000) (3,640,540) 2,359,460 6,000,000 6,000,000 3,649,450 3,649,450 (2,350,550) (2,350,550) 8,910 8,910 (40,860) (31,950) Total revenues EXPENDITURES Debt service Interest 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, 2024 Fund balance, June 30, 2025 $ 40,860 40,860 267 $ 40,860 40,860 $ 8,910 $ 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ Intergovernmental 7,717,137 439,063 $ 8,156,200 Total revenues 7,717,137 439,063 8,156,200 EXPENDITURES Current: Public safety 3,619,865 3,598,143 322,810 285,300,796 322,815 244,047,730 93,789,875 322,815 150,257,855 Total expenditures 289,243,471 247,968,688 93,789,875 154,178,813 Deficiency of revenues under expenditures (289,243,471) (247,968,688) (85,633,675) 162,335,013 25,058,025 25,058,025 18,225,348 (6,832,677) Total other financing sources 25,058,025 25,058,025 18,225,348 (6,832,677) Net change in fund balances (264,185,446) 24,786,901 $ (239,398,545) (222,910,663) 24,786,901 $ (198,123,762) (67,408,327) 167,998,917 100,590,590 155,502,336 143,212,016 298,714,352 Health Welfare and Sanitation Capital outlay 3,598,143 OTHER FINANCING SOURCES Transfers in Fund balance, July 1, 2024 Fund balance (deficit), June 30, 2025 268 $ $ 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES Current: General Government $ $ 212,900 $ $ 212,900 Public Safety 2,500,000 2,500,000 Culture and Recreation 1,129,714 40,650,060 1,224,048 39,102,563 9,771,733 1,224,048 29,330,830 Total expenditures 44,279,774 43,039,511 9,771,733 33,267,778 Deficiency of revenues under expenditures (44,279,774) (43,039,511) (9,771,733) 33,267,778 Capital outlay 2,500,000 OTHER FINANCING SOURCES (USES) Transfers in 323,034,806 324,541,806 323,034,806 (1,507,000) Transfers out (156,248,597) (162,248,597) (103,075,693) 59,172,904 166,786,209 162,293,209 219,959,113 57,665,904 90,933,682 Total other financing sources (uses) Net change in fund balances 122,506,435 119,253,698 210,187,380 Fund balance, July 1, 2024 1,130,868,249 1,130,868,249 1,125,824,605 Fund balance, June 30, 2025 $ 1,253,374,684 $ 1,250,121,947 $ 1,336,011,985 269 (5,043,644) $ 85,890,038 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES Capital outlay $ Total expenditures Excess (deficiency) of revenues over expenditures 6,378,918 $ 5,813,936 $ $ 5,813,936 6,378,918 5,813,936 5,813,936 (6,378,918) (5,813,936) 5,813,936 56,096,940 (3,145,017) 52,951,923 56,096,940 (3,145,017) 52,951,923 56,096,940 (3,145,017) 52,951,923 46,573,005 97,811,465 144,384,470 47,137,987 97,811,465 144,949,452 52,951,923 97,246,482 150,198,405 OTHER FINANCING SOURCES (USES) Transfers in Transfers out Total other financing sources (uses) Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 270 $ $ $ 5,813,936 (564,983) 5,248,953 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) OTHER FINANCING SOURCES Transfers In $ 2,460,071 $ 2,460,071 $ 2,460,071 Total other financing sources 2,460,071 2,460,071 2,460,071 Net change in fund balances 2,460,071 2,460,071 2,460,071 $ Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 2,460,071 271 $ 2,460,071 $ 2,460,071 $ 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 5,346,500 $ 5,346,500 Total revenues 5,346,500 $ 5,346,500 6,632,528 $ 1,286,028 6,632,528 1,286,028 EXPENDITURES Current: Public Safety 1,705,000 2,380,061 Total expenditures 54,699,763 56,404,763 58,434,670 60,814,731 35,235,628 35,235,628 23,199,042 25,579,103 Deficiency of revenues under expenditures (51,058,263) (55,468,231) (28,603,100) 26,865,131 40,366,361 40,366,361 40,366,361 40,366,361 40,366,361 40,366,361 (10,691,902) 55,025,602 44,333,700 (15,101,870) 55,025,602 39,923,732 11,763,261 29,919,167 41,682,428 Capital Outlay 2,380,061 OTHER FINANCING SOURCES Transfers In Total other financing sources Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 272 $ $ $ 26,865,131 (25,106,435) 1,758,696 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income $ 300,000 $ 300,000 $ 106,793 $ (193,207) 300,000 300,000 106,793 (193,207) Total expenditures 10,000,000 10,000,000 10,000,000 10,000,000 445,249 445,249 9,554,751 9,554,751 Deficiency of revenues under expenditures (9,700,000) (9,700,000) (338,456) 9,361,544 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 300,000 1,263,079 1,563,079 300,000 1,263,079 1,563,079 9,661,544 1,701,364 11,362,908 Total revenues EXPENDITURES Capital Outlay OTHER FINANCING SOURCES Transfers In Total other financing sources Net change in fund balances Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 273 $ $ $ 9,361,544 438,285 9,799,829 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Total revenues 4,000 4,000 $ 4,000 4,000 $ 9,852 9,852 $ 5,852 5,852 EXPENDITURES 285,745 285,745 285,745 Total expenditures 285,745 285,745 285,745 Excess (deficiency) of revenues over expenditures (281,745) (281,745) Net change in fund balances (281,745) 289,092 Capital outlay Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 7,347 274 $ 9,852 291,597 (281,745) 9,852 291,597 289,092 290,262 7,347 $ 300,114 1,170 $ 292,767 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Technology Capital Improvement – Capital Projects Fund Year Ended June 30, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES Current: General Government $ Capital outlay 8,977,535 5,676,565 $ 8,639,798 5,386,989 $ 8,495,045 $ 8,639,798 (3,108,056) Total expenditures 14,654,100 14,026,787 8,495,045 5,531,742 Deficiency of revenues under expenditures (14,654,100) (14,026,787) (8,495,045) 5,531,742 OTHER FINANCING SOURCES (USES) Transfers in 37,300,391 40,600,391 40,600,391 Transfers out (18,004,437) (18,004,437) (18,004,437) 77,201 77,201 Total other financing sources (uses) 19,295,954 22,595,954 22,673,155 77,201 Net change in fund balances 4,641,854 58,272,237 8,569,167 58,272,237 14,178,110 54,419,472 5,608,943 (3,852,765) Financed Purchase Agreement Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 62,914,091 275 $ 66,841,404 $ 68,597,582 $ 1,756,178 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, 2025 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Intergovernmental 11,524,824 $ 10,304,000 11,524,824 $ 8,338,276 $ (3,186,548) 10,304,000 18,971,980 8,667,980 21,828,824 21,828,824 282,871 27,593,127 282,871 5,764,303 7,950,000 80,460,050 7,895,054 80,514,996 64,985,920 7,895,054 15,529,076 Total expenditures 88,410,050 88,410,050 64,985,920 23,424,130 Deficiency of revenues under expenditures (66,581,226) (66,581,226) (37,392,793) 29,188,433 55,000,000 55,000,000 55,000,000 Total other financing sources 55,000,000 55,000,000 55,000,000 Net change in fund balances (11,581,226) (11,581,226) 17,607,207 Miscellaneous Total revenues EXPENDITURES Current: Highway and Streets Capital outlay OTHER FINANCING SOURCES Transfers in Fund balance, July 1, 2024 Fund balance, June 30, 2025 $ 50,604,598 39,023,372 276 $ 50,604,598 39,023,372 $ 27,316,497 44,923,704 29,188,433 $ (23,288,101) 5,900,332 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2025 Budgeted Amounts Original Final Actual Amounts Variance with Final Budget GENERAL GOVERNMENT County Improvement 301 - Administration Building Renovation $ 20,506,024 $ 15,689,249 Avondale Substation Radio Tower 309,831 454,592 273,920 180,672 CAD/RMS System Replacement 7,900,000 7,900,000 2,654,394 5,245,606 CAD/RMS System Replacement Project Reserve $ 3,876,248 $ 11,813,001 100,000 100,000 Clerk of the Court - Southeast Remodel 3,807,950 2,067,655 1,074,273 993,382 Downtown Office and Election Facility 34,395,516 32,395,516 9,718,547 22,676,969 Durango Campus Electrical Infrastructure 15,311,610 15,311,610 4,965,123 10,346,487 East Valley Animal Care and Control Facility 5,655,486 4,730,683 989,355 3,741,328 750,000 371,060 24,734 346,326 12,833,262 9,013,673 2,010,134 7,003,539 Electric Vehicle Chargers Electronic Court Recording System Project 100,000 Electronic Health Record System 2,592,531 2,524,315 1,765,288 759,027 Emergency Management Facility 16,047,196 8,640,569 6,235,786 2,404,783 Equipment Services Center Buckeye 2,353,098 2,088,224 213,411 1,874,813 630,000 630,000 61,933 568,067 2,389,154 2,233,825 3,066 2,230,759 Jail Mgmt Information System 1,051,571 1,029,852 65,635 964,217 Judicial Branch Secure Fencing Projects 1,192,401 563,634 563,634 MSCO Dist 3 Surprise Substation Add & Remodel 20,746,310 18,438,980 12,810,037 5,628,943 MCSO Headquarters Lobby Hardening 3,000,000 3,000,000 995,068 2,004,932 MCSO Security Surveillance Projects 13,680,000 13,368,062 5,467,595 7,900,467 MCSO Substation - Dist 4 Cave Creek – Anthem 7,000,000 7,000,000 2,526 6,997,474 MCSO Substation - District 1 Mesa 17,637,679 17,407,942 203,885 17,204,057 MCSO Substation at Avondale Campus 6,671,588 6,585,929 1,420 6,584,509 MCSO Warehouse 7,530,201 4,493,019 1,680,944 2,812,075 MCTEC Renovations 3,416,526 1,593,898 991,690 602,208 Northeast Regional Court Parking Lot 942,831 942,831 Northwest Durango Campus Drainage 3,712,396 3,659,991 839,833 2,820,158 Fuel Tank – McDowell Mt Park Human Resources Information System Office Space and Parking Study 942,831 900,000 Office Space Optimization Project 2,000,000 838,747 1,161,253 Property and Evidence System Upgrade 2,445,752 1,483,724 223,807 1,259,917 Public Health Building 5,000,000 5,000,000 190,237 4,809,763 Round Court House - Durango Demolition 203,947 Southeast Juvenile Facility Remodel 31,177,259 21,927,025 18,800,140 3,126,885 Southeast Regional Justice Center at Mesa 5,562,303 4,613,819 802,447 3,811,372 STARR Call Center Relocation 25,632 Superior Court Central Building 9th Floor 600,000 570,068 295,393 274,675 Superior Court Central Building 10th Floor 10,631,527 10,212,605 6,075,689 4,136,916 Superior Court Central Building 11th Floor 2,533,890 1,926,338 327,057 1,599,281 West Valley Animal Shelter Total County Improvements 18,000,000 18,000,000 8,747,879 9,252,121 $ 289,243,471 $ 247,968,688 $ 93,789,875 $ 154,178,813 $ $ $ $ General Fund County Improvements Anthem Library Building Boundary Fencing Campground Development and Improvement 4,000,000 3,891,775 440,322 436,272 1,721,010 1,748,901 277 463,327 3,428,448 436,272 1,052,408 696,493 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2025 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget GENERAL GOVERNMENT (Cont’d) Early Childhood Education Center for Employees $ Education Building Improvements 301,847 $ 300,000 301,847 $ 198,430 Electric Vehicle Chargers 13,152 $ 148,056 50,374 378,940 Emergency Management Facility 288,695 378,940 1,507,000 994,967 Entry Station and Maintenance Buildings 366,938 102,127 94,792 7,335 Estrella Ramada Renovations 778,773 577,999 493,261 84,738 Host Sites 262,145 246,812 243,302 3,510 Joe Foss Shooting Range 300,000 300,000 253,775 Lake Pleasant - Boundary Fencing 600,000 600,000 Lake Pleasant - Campsite Repairs and Reno 318,340 Maricopa Regional Trail System 439,579 46,225 600,000 427,786 Office Space and Parking Study 512,033 42,691 385,095 155,000 Parking Lot Repairs 155,000 1,329,096 876,815 Parks ADA 200,000 200,000 Parks Day Use Hassayampa 49,980 80,289 28,277 Parks Day Use Usery 189,720 182,061 146,377 35,684 Parks Day Use White Tank 800,000 648,989 19,865 629,124 Parks Master Plan San Tan Mtn Park Improvement 52,012 998,943 904,682 399,075 505,607 1,486,784 1,187,205 299,579 451,415 2,048,585 421,634 17,031,954 2,500,000 1,287,532 1,298,076 Vulture Mountain 17,396,798 17,453,588 Waste Water System 57,900 2,500,000 Superior Court Central Building 12th Floor Total General Fund County Improvements 200,000 57,900 Superior Court Camera Replacement Project White Tank - Area 4 Renovations 392,512 2,456,901 STARR Call Center Relocation West Valley Animal Shelter 484,303 1,298,076 1,200,000 1,200,000 485,084 714,916 5,300,000 741,850 $ 44,279,774 4,933,491 343,947 $ 43,039,511 $ 2,016,709 332,058 9,771,733 2,916,782 11,889 $ 33,267,778 $ $ $ Technology Capital Improvements Dynamics 365 Upgrade 255,450 120,645 117,312 $ 3,333 Enterprise Res Planning System 2,267,099 2,267,099 1,680,055 587,044 Infrastructure Refresh Phase II 2,815,360 2,716,712 324,956 2,391,756 2,861,205 6,454,986 $ 14,654,100 2,670,277 6,252,054 $ 14,026,787 $ 655,453 5,717,269 8,495,045 2,014,824 534,785 5,531,742 $ $ $ 5,618,107 760,811 6,378,918 $ 255,000 Public Safety Radio Treasurer Tech System Upgrade Total Technology Capital Improvements $ PUBLIC SAFETY Detention Capital Projects Durango Jail Demolition MCSO Security Surveillance Projects Total Detention Capital Projects $ $ $ 5,794,432 19,504 5,813,936 $ $ $ 501,666 $ 5,794,432 19,504 5,813,936 Flood Control Capital Projects 103rd Avenue Landfill Drainage Improvements 10th Street Wash Basins - Major Maintenance 5,000 14th & 15th Street Storm Drain 278 500,263 $ 1,403 83,292 19,799 63,493 102,845 1,123 101,722 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2025 Budgeted Amounts Actual Amounts Final Original Variance with Final Budget PUBLIC SAFETY (Cont’d) 19Ave and Dobbins Drainage Improvements $ $ 363,910 $ 120,799 $ 243,111 19th St South Mountain Ave Storm Drain Wash 56,497 581 55,916 20th St Euclid Ave Storm Drain 58,330 520 57,810 27th Ave and Olney Ave Storm Drain 12,000 2,189,523 2,171,889 17,634 2nd Ave and Spencer 230,000 227,499 179 227,320 35th Ave Olney Conveyance Improvements 1095 (1,095) 225,458 (225,458) 51St Ave and Dobbins Road Drainage Improve Project 1,563 (1,563) 68th St Storm Drain Extension At Monterosa St 4,460 (4,460) 75th Ave Olive Ave Grand Ave Regional Drainage 1,170,628 (1,170,628) 967 (967) 48th Street Drain - Major Maintenance Agua Fria Levee Railing Paving Agua Fria River - Major Maintenance 295,000 Agua Fria River East Levee Apache Junction Frs Slope Gravel Mulch Project Apollo Gardens Drainage Improvements 235,000 501,666 564 (564) 29,402 (29,402) 449,923 (449,923) 1,582 500,084 504,165 Baseline East of Signal Butte Basin 1 And 16th St Ardmore Rd Storm Drain Basin 10 47,831 504,165 548 (548) 1,677 46,154 115,330 812 114,518 Bethany 79th To 59th 5,925,000 6,128,535 561,553 5,566,982 Broadway Stapley Drainage Improvements 1,168,000 1,900,433 5,789 1,894,644 15,000 236,020 376,002 (139,982) 426 440 (14) Basin 11 Outfall Storm Drain Buckeye 1 Rehab Bullard Wash Ph II 1,980 Casandro Wash Dam - Major Maintenance Cave Buttes Dam Dike 2 Unauthorized Work 132,938 Cave Buttes Dam Modification 15,000 Cave Buttes Dam Modifications Ph 2 43,940 53,819 (9,879) 254,165 500,276 (246,111) 1,858 (1,858) 1,524 2,906,152 325,643 1,439 324,204 205,001 77,422 127,579 Cave Buttes Feasibility Study Central Chandler Drainage 2,995,000 2,907,676 Circle K Park Detention Basin 876,000 Detention Basin at Town of Queen Creek E Park (1,980) 132,938 Downtown Buckeye Dreamy Draw Dam - Major Maintenance 785 (785) 5,929 (5,929) East Fork Cave Creek - Major Maintenance 11,421 2,243 9,178 East Maricopa Floodway - Major Maintenance 9,077 21,529 (12,452) 420,000 217,990 11,565 206,425 1,100,000 1,684,925 1,625,876 59,049 EMF Low Flow - Chandler Heights to Hunt Highway 100 68 32 EMF Low Flow Germann to Chandler Heights 116 116 Elliot Rd Drainage Improvement EMF To Ellsworth EMF Levee Crest Improvements Flood Control CIP 336,148 Flood Control West Yard 70,000 58,991 11,009 FPAP - Gila Bend - Campos 24,546 7,175 17,371 FPAP - Gila Bend - Cansino 24,021 7,258 16,763 FPAP - Gila Bend - Cantu 25,571 8,640 16,931 FPAP - Gila Bend - Delacruz 23,396 6,346 17,050 FPAP - Gila Bend - Gila Bend Lots LLC 10,876 6,658 4,218 279 336,148 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2025 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget PUBLIC SAFETY (Cont’d) FPAP - Gila Bend - Gonzalez $ $ 22,671 $ 4,782 $ 17,889 FPAP - Gila Bend - Granillo Hernandez 23,582 4,764 18,818 FPAP - Gila Bend - Granillo Trust 36,641 8,583 28,058 FPAP - Gila Bend - Hayes-Mendoza 36,536 4,825 31,711 FPAP - Gila Bend - Henry 37,261 6,211 31,050 FPAP - Gila Bend - Lopez 37,991 6,614 31,377 FPAP - Gila Bend - Maddox 2,756,527 8,240 2,748,287 FPAP - Gila Bend - Mascarenas 37,576 5,217 32,359 FPAP - Gila Bend - May 23,296 4,448 18,848 FPAP - Gila Bend - Mendez Family Trust 25,146 8,900 16,246 FPAP - Gila Bend - Mendez Vicente Angelica 23,596 4,870 18,726 FPAP - Gila Bend - Miranda 33,706 7,025 26,681 FPAP - Gila Bend - Murrieta-Reina-Pena 35,911 4,917 30,994 FPAP - Gila Bend - Pena 37,241 5,642 31,599 FPAP - Gila Bend - Rascon 24,221 11,847 12,374 FPAP - Gila Bend - Rodriguez 24,121 5,296 18,825 FPAP - Gila Bend - Ruiz 23,396 7,637 15,759 FPAP - Gila Bend - Sordia - Espinoza 36,536 4,777 31,759 FPAP - Gila Bend - Terriquez 35,286 36 35,250 FPAP - Gila Bend - Torrez 37,461 7,367 30,094 FPAP - Gila Bend - Toupin 37,012 5,590 31,422 FPAP - Gila Bend - Vega 35,661 5,435 30,226 FPAP - Gila Bend - Wurzauf 23,542 6,567 16,975 FPAP - Gila Bend - Ybarra 36,641 6,431 30,210 1,567 (1,567) 4,735 (4,735) FPAP- Gila Bend - General Use Gila Bend Drainage Improvements Golden Eagle Park Dam Debris Mitigation I t Grand Avenue 83rd Avenue Drainage Improvement Granite Reef Wash Guadalupe Fire Station Drainage Improvements 91,000 92,666 2,807 89,859 80,000 659,988 674,757 (14,769) 1,690,000 1,281,438 562,912 718,526 171,000 97,499 110,828 (13,329) 353,075 47,711 305,364 5,000 655,033 1,110,864 (455,831) 356,000 353,499 Guadalupe FRS - Major Maintenance Guadalupe FRS Rehab Guadalupe Rd Channel Box - Major Maintenance Guthrie St And Main St 1,156 (1,156) 353,499 Indian Bend Wash Outlet – Major Maintenance 313 Lindo Park Storm Drain Connection 752 (752) 52 46,948 Loop 303 Drainage 47,000 176 Loop 303 Drainage - Major Maintenance Main St and Phyllis St 368,000 341,342 Major Maintenance Capital Appr Unit 100,000 577,571 McMicken Dam - Major Maintenance (176) 341,342 577,571 40,147 Maricopa Trail At McMicken Dam (313) (40,147) 1,527 (1,527) McMicken Dam Outlet Improvement 4,862,000 3,636,299 3,083,582 552,717 McMicken Dam Project 1,106,500 6,809,817 4,173,828 2,635,989 90,000 1,679,613 508,327 1,171,286 64,661 (64,661) McMicken Dam Rehab Phase 3 McMicken Dam Rehab Phase 5 280 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2025 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget PUBLIC SAFETY (Cont’d) Mockingbird Lane Drainage Improvement Project $ N 20th St at Lookout Mtn. Park Drainage Mitigation 342,000 $ 755,000 215,212 $ 705,499 New River Dam - Major Maintenance Oak St Basin and St Dr 3,187 Old Cross Cut Canal - Major Maintenance Paradise Ridge Channel Improvements 1,216,440 1,383,510 Patton Road at 195th Avenue 87,533 $ 127,679 418 705,081 2,091 (2,091) 1,623 1,564 8,110 (8,110) 428,879 787,561 505,000 Pecos Road Drainage Improvement 7,218,000 2,509,847 120,502 2,389,345 Pima Road Drainage Channel 5,975,000 1,699,595 2,115,926 (416,331) Pinnacle Peak Rd & 67th Ave Drainage Improvements 11,335,000 11,276,774 12,220,874 (944,100) 3,381 (3,381) Powerline FRS Channel Powerline FRS Idsm 61,000 86,667 PVR Rehabilitation 1,285,870 1,853,128 551,286 1,301,842 86,667 Rawhide Wash Flood Hazard Mitigation 120,782 2,436,883 609,151 488,369 Reata Pass Drainage Improvements 25,000 10,415 3,012 7,403 Roosevelt St Storm Drain Improvement 425,000 337,097 11,760 325,337 7,669 169 7,500 Salt River Channel - Major Maintenance Skunk Creek Low Flow Channel Small Project 3rd Ave Thomas Rd S 330,000 Small Project N 51st Place To Desert Fairway 357,000 135 (135) 327,499 405 327,094 39,407 1,181 38,226 Spookhill FRS Emergency Spillway 898 (898) Sun City Drains - Major Maintenance 132 (132) 1,402 (1,402) South Mountain Ave Storm Drain West Sun City Drains Grand at 103rd to New River Sun City Rh Johnson Unit 3 Pipin 1,000,000 Sun City West Drains - Major Maintenance Sun City West Drains Improvements Repairs Sunset FRS - Major Maintenance Superstition Springs Golf Course Lake 500,000 12,131 University Basin Vegetable Debris Removal Vineyard Frs - Major Maintenance Watson Drive and Bonarden Lane 173 White Tanks 3 Outfall West Access Improvements White Tanks 4 Outlet White Tanks 4 Rehab 5,000 (3,277) 214,781 273 (273) 108,231 (108,231) 2,419 9,712 155 (155) 610 (437) 693,399 (693,399) 45 (45) 2,085 67 2,018 510,839 $ 503,219 (391) 25,579,103 $ (759,889) $ 56,404,763 $ 60,814,731 7,620 391 $ 35,235,628 $ $ $ White Tanks 4 Security Access White Tanks FRS No 3 - Major Maintenance Total Flood Control Capital Projects 3,277 (214,781) HIGHWAYS AND STREETS 111th Ave Peoria Ave to Alabama Ave 2,000 761,889 11th Ave Honda Bow to 13th Ave 1,368 (1,368) 12th St Carefree Hwy to Sentinel Rock Rd 1,871 (1,871) 20th St Cloud Rd to Tamar Rd 1,276 (1,276) 286,344 (47,304) 154 (154) 227th Ave Montgomery to Dove Valley 333,000 27th Ave Lower Buckeye to R C Easterbrook 281 239,040 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2025 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget HIGHWAYS AND STREETS (Cont'd) 387th Ave Indian School to Orangewood $ $ $ 2,436 1,099 3rd St Linda Ln to Honda Bow Rd $ (2,436) (1,099) 2,354 (2,354) 67th Avenue and Vineyard Rd 851,000 548,935 651,953 (103,018) 7th St Carefree Hwy to Blue Eagle Ln 102,000 80,000 147,973 (67,973) 1,586 (1,586) 423 (423) 51st Ave at Olney Intersection Improvement ADA Improvement Package 1 Anthem Units 23561819 1,000 363 637 ARAC MR NW SO Arterials 235,000 200,000 80,980 119,020 ARAC Overlay NW SO Arterials 100,000 111,000 18,493 92,507 2,516 (2,516) 194,840 (34,168) ARAC MR NE Arterials Bell Rd Communication Enhancements Bethany Home Rd at Citrus Road 8,000 204,000 160,672 Broadway Rd 75Th Ave to 51St Av Broadway Rd Bridges at Temple Canal 230,000 211,449 111 (111) 242,130 (30,681) Caballos Ranchitos Subdivision 82 (82) Camelback Rd at Citrus Rd 460 (460) 116 Camelback Road at Perryville Road Traffic Signal Capacity 973,250 8,212,761 3,704 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 610,000 296,094 3,553,000 Chander Hts Recker to 600 ft E of Power Rd IGA (116) 8,212,761 (3,704) 41 (41) 19,051 277,043 519 (519) 25 (25) Cooper Rd Prescott Pl To Riggs Rd Improvements IGA 73 (73) Cooper Rd Prescott Pl to Riggs Rd ROW Assistance 489 (489) Cotton Ln at Granite Vista Loop Intersection Impro 5,000 7,595 Crozier Rd Dixileta Rd Deer Valley El Mirage to Lk Pleasant 12,000 1,000 DMIT-White Tanks Area 4 Dove Valley Rd 171st Ave to 163rd Ave 73,425 (65,830) 649,322 (649,322) 19,603 (18,603) 76 (76) 2,209,413 (2,209,413) Dreamland Villa Rehab Units 1-10 14 Velda Rose 2-4 285,000 92,000 52,530 39,470 Dreamland Villa Units 11-19 Granite Reef Velda Rose 30,000 51,000 9,957 41,043 196 Dreamland Villa Units 11-19 Granite Reef Velda Rose Dust Mitigation 950,750 Dysart Ave Overpass 3,436,969 2,000 Dysart Rd and Rose Ln Intersection (196) 3,436,969 17,569 (15,569) 106 (106) Eagle Eye Rd at Tiger Wash 5,052,000 2,475,029 2,535,094 (60,065) Ellsworth Rd and Pueblo Ave 50,000 16,191 92,446 (76,255) 36,000 79,869 (43,869) 62,745 66,988 (4,243) 40,061 (40,061) 430 (430) Fort McDowell and Mohave Intersection Improvement Gavilan Pk Pkwy and Cloud Rd 10,000 Gavilan Pk Pkwy and King Dr 252,000 Gavilan Pk Pkwy and Navigation Way Germann Lindsay Row Assistance IGA Gilbert Road Bridge 9,092,000 Glendale Ave and Cotton Lane 282 38 (38) 7,626,219 8,551,943 (925,724) 1,000 4,255 (3,255) Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2025 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget HIGHWAYS AND STREETS (Cont'd) Happy Valley Rd and Dysart Intersection Improvement $ $ $ 581 $ (581) Happy Valley Rd and El Granada Intersection 14,953 (14,953) Happy Valley Rd at El Granada 675,640 (675,640) Hidden Valley Basin Storm Drain 132 (132) HIPR - McDowell Mountain Rd 546 (546) Hunt Hwy SR87 to McQueen Road 84,293 (84,293) Hyder Rd County Limit to MP 225 1,639 (1,639) Intelligent Trans System (110) 110 Iris Rd 101 St to 103rd St 195 (195) 1,350,561 (1,350,561) 108,418 (108,418) Irrigation Pipe Replacement Old US 80 Arlington Canal Lindsay Rd Spur Rd to Layton Lakes Blvd IGA 1,410,000 36 (36) 1,292 (1,292) Locals and Arterial SE Area Rehabilitation 444 (444) Lower Buckeye 71st to 67th Ave 135 (135) 3,066,724 1,216,860 Lindsay Road Riggs to Ocotillo IGA Litchfield Rd N Pkwy To Peoria Luke Wash Bridge at Old US 80 2,721,000 4,283,584 MAG ALCP Projects 2,395,350 1,908,462 Mash Guardrail Evaluation - NE Area MC 85 107th Ave to 91St Ave MC85 91st Ave 1,908,462 1001 (1,001) 2,160,000 2,162,251 5,734,725 (3,572,474) 149,000 2,500 53,099 (50,599) MC85 at 83rd Ctr Turn Ln Exp 2,605 (2,605) 734,000 489,657 80,798 408,859 12,200,000 10,079,600 11,510,751 (1,431,151) Meeker Blvd and Echo Mesa Dr 102 (102) Meeker Blvd at Granite Valley Dr 38 (38) Meridian Rd Baseline Rd to Brown Rd 35 (35) 2,326 MC85 at Verrado Way McKellips Rd I10 to Alma Schl 1,211,000 29,530 27,204 27 (27) 55,000 26,364 17,376 8,988 (18,221) 18,221 Northern Parkway Agua Fria to 99th Ave Scoping 4,320,000 3,435,000 1,409,591 2,025,409 Northern Parkway Northern at L101 11,650,000 4,034,705 2,557,255 1,477,450 NE Locals Overlay Northern Ave Citrus Rd & Cotton Ln at Maryland Northern Park Way EL Mirage Alt Acc Northern Park Way EL Mirage Overpass Northern Parkway Phase II Ocotillo Gilbert Rd to 148th St 450 (450) 235,440 (235,440) 108 (108) Old US 80 HFST Prep 660,000 660,000 439,180 220,820 Old US 80 Patterson to Agua Caliente 10,000 19,718 81,112 (61,394) Old Price Rd Riggs Rd to Bartlett Way Alignment Olive Ave Reems to Litchfield 254,929 824,854 5,226 (5,226) 742,000 621,591 406,642 214,949 4,740,000 1,447,750 1,116,510 331,240 143 (143) Patton Rd at 195th Ave Peoria Ave Citrus Rd To Sr 303 Perryville at Indian School Intersection Impr IGA (269) (569,925) 83,000 Olive Ave Sr 303 To Sarival Ave Peak View Lvr 269 672,000 Perryville Rd and Roosevelt St Signal 49 (49) Pinnacle Vista Dr 40th to 46th St 272 (272) Power Rd Pecos to SR 202 IGA 36 (36) 283 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2025 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget HIGHWAYS AND STREETS (Cont'd) Prop Mgmt Prior Years Project $ 50,000 Riggs Rd I-10 to Dobson Rd $ 50,000 $ 7,433 $ 116,047 30,000 42,567 (86,047) (91,055) 91,055 Row In Fill Road Inventory System 300,000 300,000 306,141 (6,141) San Tan Blvd and Power Road 169,000 34,000 91,835 (57,835) Riggs Rd Power to Hawes Sarival Gardens Subdivision Skunk Creek Crossings Circle Mtn 19Th Ave 1,203,000 2,003,000 Southern Ave 41st to 39th Ave 8,477,000 368,530 698 (698) 823,689 1,179,311 422,165 (53,635) SPAR 395th Ave Thomas Rd to Camelback Rd 1,279,545 (1,279,545) SPAR 51st Ave Beltline Rd to Estrella Dr 1,974,726 (1,974,726) SPAR 99th Ave at Thunderbird Guardrail Replacement 272,075 (272,075) SPAR McDowell at 95th Ave and 86th Ave ADA Ramps 791,855 (791,855) SPAR Rainbow Rd Beloat Rd to Southern Ave 845,108 (845,108) 1,600,000 1,763,384 (163,384) 171,800 136,401 35,399 SR 101L RCBC Extension Stardust Blvd Amigo Dr to Sunglow Dr 17,000 190 (190) 649 1,351 110,161 (110,161) 80,070 (59,070) Sun City West Units 35 38A 40 ADA Ramps 17,680 (17,680) Sun Lakes Rehab Units 11-22 2,114 (2,114) Sun City Units 21 21A 22 22A Sun City West Canal Crossing Sun City West unit 25 35 38A 40 41 42 43 and 44 2,000 100,000 Sun City West Units 35 38A 40 21,000 Sun Valley Parkway Restoration Phase 4 126 (126) Sun Valley Parkway Restoration Phase 5 3,800,703 (3,800,703) 137 Sun Valley Parkway Restoration Phase 6 (137) System Preservation 1,765,300 12,677,019 Tonto Hills Lvr Package 1 2,915,000 2,623,206 1,429,897 1,193,309 868,750 33,081 835,669 97,449 15,551 Tonto Hills Water Line Traffic Calming 100,000 1,000 Traffic Management 161,000 113,000 1,714,400 10,849,931 Transportation System Management 12,677,019 1,000 10,849,931 Tuthill Rd Bridge Restoration 1,255 Tuthill Rd Cheyenne Rd to MC 85 2,150 (2,150) 2,910,030 3,199,119 (289,089) 285 (285) 443,444 693,143 (249,699) 35,000 $ 88,410,050 17,000 $ 88,410,050 76 157,392 $ 64,985,920 (76) (140,392) $ 23,424,130 $ 10,000,000 $ 10,000,000 $ 10,000,000 $ 10,000,000 $ $ $ $ University Dr Higley Rd to Power Rd Van Buren at Jackrabbit Tr 2,202,000 351,000 Vulture Mountain Recreation Roads White Tank Park Entrance Wintersburg Rd Buckeye Rd to Van Buren St Total Highways and Streets (1,255) CULTURE AND RECREATION Library District Capital Improvement Fund Central Sort Library Total Culture and Recreation 284 445,249 445,249 9,554,751 9,554,751 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, 2025 Equipment Services Technology Infrastructure Sheriff Warehouse ASSETS Current assets: Cash in bank and on hand $ Cash and investments held by County Treasurer $ 4,296,930 $ 9,824,312 Receivables: Accounts 7,555 Accrued interest 15,577 53,982 1,178,227 105,526 5,498,289 11,070,255 Inventories 1,287,766 1,086,435 Prepaids Total current assets 1,287,766 Noncurrent assets: Buildings and improvements 16,280,574 Land 92 Machinery and equipment 3,808,408 128,530,007 (3,096,195) 176,171 (123,808,792) 256,315 888,384 25,283,631 6,386,673 36,353,886 Deferred outflows related to pensions and OPEB 889,163 1,580,773 Total deferred outflows of resources 889,163 1,580,773 Intangibles 4,025,435 Accumulated depreciation Other postemployment benefits (OPEB) Total noncurrent assets Total assets 1,287,766 DEFERRED OUTFLOWS OF RESOURCES LIABILITIES Current liabilities: Accounts payable 1,121,783 3,094,430 Employee compensation payable 343,327 602,821 Compensated absences 204,566 383,127 110,918 Accrued liabilities 194 Due to other funds 555,392 Leases payable 71,690 Liability for reported but unpaid and incurred but not reported claims 1,669,676 Total current liabilities 4,152,068 666,504 Noncurrent liabilities: Liability for reported but unpaid and incurred but not reported claims Compensated absences 166,827 306,260 Leases payable 4,700,929 1,678,894 8,367,241 Total noncurrent liabilities 4,867,756 10,352,395 Total liabilities 6,537,432 14,504,463 Deferred inflows related to pensions and OPEB 367,578 634,992 Total deferred inflows of resources 367,578 634,992 712,213 176,171 (517,558) 370,826 23,276,732 256,315 (737,843) 22,795,204 Net pension liability 666,504 DEFERRED INFLOWS OF RESOURCES NET POSITION Net investment in capital assets Restricted for Other Postemployment Benefits (OPEB) Unrestricted (deficit) $ Total net position (deficit) 288 $ $ 621,262 621,262 Maricopa County Combining Statement of Net Position All Internal Service Funds (Continued) June 30, 2025 Risk Management Employee Benefits Trust Total ASSETS Current assets: Cash in bank and on hand $ Cash and investments held by County Treasurer 100 $ 3,366,255 $ 3,366,355 12,029,683 90,600,710 116,751,635 35,367 8,990,000 9,032,922 77,784 579,409 726,752 11,360,864 3,293,426 2,571,519 15,740,725 23,503,798 106,829,800 148,189,908 Receivables: Accounts Accrued interest Inventories Prepaids Total current assets Noncurrent assets: Buildings and improvements 16,280,574 Land 92 Machinery and equipment 108,448 Intangibles 6,135 132,452,998 (628,767) 79,372 (6,135) 63,446 (127,539,889) 575,304 520,465 63,446 26,755,926 24,024,263 106,893,246 174,945,834 438,854 315,680 3,224,470 438,854 315,680 3,224,470 961,412 Accumulated depreciation Other postemployment benefits (OPEB) Total noncurrent assets Total assets 4,986,847 DEFERRED OUTFLOWS OF RESOURCES Deferred outflows related to pensions and OPEB Total deferred outflows of resources LIABILITIES Current liabilities: Accounts payable Employee compensation payable Compensated absences 1,193,187 809,443 6,329,761 169,969 164,729 1,280,846 134,036 Accrued liabilities 80,683 802,412 11,607,179 11,607,373 Due to other funds 555,392 Leases payable Liability for reported but unpaid and incurred but not reported claims Total current liabilities 192,065 14,637,000 20,306,858 263,755 34,943,858 16,326,257 32,968,892 55,783,397 Noncurrent liabilities: Liability for reported but unpaid and incurred but not reported claims 40,902,227 Compensated absences 40,902,227 129,652 53,965 656,704 198,634 2,321,492 1,668,897 1,877,528 17,058,559 Total noncurrent liabilities 43,552,005 1,722,862 60,495,018 Total liabilities 59,878,262 34,691,754 116,278,415 Deferred inflows related to pensions and OPEB 178,957 130,788 1,312,315 Total deferred inflows of resources 178,957 130,788 1,312,315 50,394 79,372 63,446 24,039,339 575,304 Leases payable Net pension liability DEFERRED INFLOWS OF RESOURCES NET POSITION Net investment in capital assets Restricted for Other Postemployment Benefits (OPEB) Unrestricted (deficit) 72,322,938 (35,723,868) Total net position (deficit) $ 289 (35,594,102) $ 72,386,384 35,964,931 $ 60,579,574 Maricopa County Combining Statement of Revenues, Expenses, and Changes in Net Position All Internal Service Funds Year Ended June 30, 2025 Equipment Services Technology Infrastructure Sheriff Warehouse OPERATING REVENUES Charges for services $ Miscellaneous 24,800,946 29,828 $ 45,106,296 59,565 24,830,774 45,165,861 Personal services 6,371,867 9,561,666 Supplies 11,561,803 2,879,460 Other services 1,695,727 14,931,461 8,540 37,639 Total operating revenues $ 3,343,045 3,343,045 OPERATING EXPENSES 3,368,991 Legal Insurance and claims Leases and rentals Repairs and maintenance 2,767,370 66,945 Travel and transportation 33,869 108,124 Utilities 155,837 342,773 10,159,755 6,108,588 Total operating expenses 22,937,786 43,853,638 3,368,991 Operating income (loss) 1,892,988 1,312,223 (25,946) Investment income 61,378 335,727 Interest expense Gain (loss) on disposal of capital assets 5,113 (68,494) (875,526) 66,491 (608,293) 1,959,479 703,930 Depreciation NONOPERATING REVENUES (EXPENSES) Total nonoperating revenues (expenses) Income (loss) before contributions and transfers (25,946) 4,765,763 Capital contributions Change in net position 1,959,479 5,469,693 (25,946) Total net position (deficit), July 1, 2024 (1,588,653) 17,325,511 647,208 Total net position (deficit), June 30, 2025 $ 290 370,826 $ 22,795,204 $ 621,262 Maricopa County Combining Statement of Revenues, Expenses, and Changes in Net Position All Internal Service Funds (Continued) Year Ended June 30, 2025 Employee Risk Management Benefits Trust Total OPERATING REVENUES Charges for services $ Miscellaneous Total operating revenues 50,606,417 1,057,202 $ 203,062,529 2,272 $ 326,919,233 1,148,867 51,663,619 203,064,801 328,068,100 2,850,471 2,285,077 21,069,081 37,486 31,099 17,878,839 3,344,762 214,545,496 234,517,446 38,245,967 OPERATING EXPENSES Personal services Supplies Other services Legal 2,488,147 Insurance and claims 31,298,542 6,947,425 3,054 24,848 74,081 3,102 2,837,417 Leases and rentals 2,488,147 Repairs and maintenance Travel and transportation 33,719 5,679 181,391 Utilities 10,315,592 6,648,056 196,695 Depreciation Total operating expenses 40,252,876 223,842,726 334,256,017 Operating income (loss) 11,410,743 (20,777,925) (6,187,917) Investment income 571,305 4,740,480 5,708,890 Interest expense Gain (loss) on disposal of capital assets (19,713) 21,516 NONOPERATING REVENUES (EXPENSES) Total nonoperating revenues (expenses) Income (loss) before contributions and transfers (88,207) (848,897) 573,108 4,740,480 4,771,786 11,983,851 (16,037,445) (1,416,131) 4,765,763 Capital contributions Change in net position Total net position (deficit), July 1, 2024 Total net position (deficit), June 30, 2025 $ 291 11,983,851 (16,037,445) 3,349,632 (47,577,953) 88,423,829 57,229,942 (35,594,102) $ 72,386,384 $ 60,579,574 Maricopa County Combining Statement of Cash Flows All Internal Service Funds Year Ended June 30, 2025 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 24,702,061 $ 91,330 Net cash provided by operating activities 44,985,771 $ 3,343,045 120,525 29,828 59,565 (16,575,829) (6,280,264) (26,413,260) (10,172,336) (3,373,214) 1,967,126 8,580,265 (30,169) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Loan repaid to General Fund Net cash used for noncapital financing activities 30,169 30,169 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets Proceeds from disposal of assets (364,343) (8,788,990) 6,695 Principal paid on lease debt Interest paid on lease debt Net cash used for capital and related financing activities CASH FLOWS FROM INVESTING ACTIVITIES Interest and dividends Net cash used for investing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, July 1, 2024 $ Cash and cash equivalents, June 30, 2025 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 Compensated absences 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 (357,648) (65,427) (68,494) (8,922,911) 45,801 45,801 327,374 327,374 1,655,279 (15,272) 2,641,651 9,839,584 4,296,930 $ 9,824,312 $ 1,892,988 $ 1,312,223 $ 342,773 (25,946) 6,108,588 (7,555) 926 14,152 (73,553) 1,086,435 (184,263) (205,026) (353,609) 669,537 30,381 30,669 3,352 (39,052) 160,519 (507,801) 81,614 110,540 70,027 (697) $ 1,967,126 $ 8,580,265 $ $ (43,197) $ (4,072,519) $ 41,615 1,582 4,055,125 17,394 (3,051,462) 2,193,330 858,132 68,758,573 (63,992,810) (4,765,763) (30,169) Maricopa County Combining Statement of Cash Flows All Internal Service Funds (Continued) Year Ended June 30, 2025 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 $ Risk Employee Benefits Management Trust 50,571,050 $ Total 201,887,529 $ 325,489,456 211,855 Net cash provided by operating activities 1,057,202 2,272 1,148,867 (47,399,208) (2,888,397) (217,799,980) (2,282,310) (311,561,491) (21,623,307) 1,340,647 (18,192,489) (6,334,620) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Loan repaid to General Fund Net cash used for noncapital financing activities 30,169 30,169 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 Net cash used for capital and related financing activities 21,516 28,211 (185,714) (19,713) (244,317) (251,141) (88,207) (9,524,876) CASH FLOWS FROM INVESTING ACTIVITIES Interest and dividends Net cash used for investing activities 555,438 555,438 4,706,288 4,706,288 5,634,901 5,634,901 1,651,768 (13,486,201) (10,194,426) 10,378,015 107,453,166 (60,406) Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, July 1, 2024 Cash and cash equivalents, June 30, 2025 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 Compensated absences 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 (9,213,739) 130,312,416 $ 12,029,783 $ 93,966,965 $ 120,117,990 $ 11,410,743 $ (20,777,925) $ (6,187,917) 196,695 (2,661,000) 6,648,056 1,300,484 (6,198,469) (1,360,516) (6,198,469) (35,367) (1,175,000) (1,217,922) (1,160,400) (1,129,325) (1,203,290) (58,475) (74,253) (56,569) (520,111) (173,629) (269,171) (56,845) 12,144 56,773 129,967 17,431 (23,314) (41,583) (28,813) (299) (376,394) 35,565 3,855,681 26,176 3,854,984 253,895 1,340,647 (18,192,489) (6,334,620) (44,908) 44,908 (4,160,624) 4,141,648 18,976 (3,051,462) 2,193,330 858,132 68,758,573 (63,992,810) (4,765,763) 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, 2025 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 5,804,364,079 Property tax receivable for other governments Interest receivable Total assets 37,216,323 $ 5,841,580,402 $ $ 32,182,606 58,105,788 $ 58,105,788 135,627,961 167,810,567 $ 178,835,901 168,019 $ 193,901,768 $ 146,653,295 168,019 372,737,669 $ $ $ 32,182,606 146,653,295 Liabilities Property tax payable to other governments Due to others Total liabilities 32,182,606 82,782 82,782 32,182,606 82,782 32,265,388 Net position Restricted for: Pool participants Individuals, organizations, and other governments Total net position 5,841,580,402 146,653,295 $ 5,841,580,402 $ 146,653,295 298 193,818,986 $ 193,818,986 340,472,281 $ 340,472,281 Maricopa County Combining Statement of Changes in Fiduciary Net Position Custodial Funds Year Ended June 30, 2025 Other External Investment Pool Property Tax Collections Special Purpose Total Other Additions: Contributions from pool participants $ 11,275,450,147 $ Property tax collections for other governments $ $ 4,837,268,731 4,837,268,731 Fine, fees, and forfeitures collected for other governments 151,619,240 151,619,240 645,703 645,703 645,703 645,703 13,234,337 13,234,337 165,499,280 5,002,768,011 Investment earnings: Interest and dividends Net increase (decrease) in fair value of investments 177,878,119 91,507,657 269,385,776 Total investment earnings Other 11,544,835,923 Total additions 4,837,268,731 Deductions Distributions to pool participants 11,150,934,916 Property tax distributions to other governments Fines, fees, and forfeitures distributed to other governments 4,937,710,272 4,937,710,272 Other Total deductions Net increase (decrease) in fiduciary net position Net position, July 1, 2024 Net position, June 30, 2025 $ 122,023,470 122,023,470 40,271,946 40,271,946 11,150,934,916 4,937,710,272 162,295,416 5,100,005,688 393,901,007 (100,441,541) 3,203,864 (97,237,677) 5,447,679,395 247,094,836 190,615,122 437,709,958 5,841,580,402 299 $ 146,653,295 $ 193,818,986 $ 340,472,281 300 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 2015-16 2016-17 2017-18 2018-19 2019-20 $ 3,344,675,215 $ 3,398,536,569 $ 3,540,327,347 $ 3,775,784,925 $ 3,808,175,194 562,881,286 (767,502,521) Unrestricted Total governmental activities net position (2) $ 3,140,053,980 706,572,442 (941,448,887) $ 3,163,660,124 657,310,403 (1,184,406,509) $ 3,013,231,241 529,365,206 588,854,025 (887,071,085) (718,666,721) $ 3,418,079,046 $ 3,678,362,498 $ 54,519,520 $ 72,367,100 $ 69,913,021 $ 79,796,197 $ 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 $ 5,699,657 (562,617) 84,933,237 Governmental activities Net investment in capital assets Restricted Business-type activities (1) Net investment in capital assets $ 22,487,405 Total business-type activities net position (2) $ 1,425,160 7,492,157 31,404,722 Restricted Unrestricted Primary government $ 3,887,971,391 Net investment in capital assets $ 3,367,162,620 $ 3,453,056,089 $ 3,612,694,447 $ 3,845,697,946 Restricted 564,306,446 (760,010,364) $ 3,171,458,702 713,663,930 (948,689,485) $ 3,218,030,534 662,252,576 (1,188,781,215) $ 3,086,165,808 535,852,611 594,553,682 (889,051,315) (719,229,338) $ 3,492,499,242 $ 3,763,295,735 2020-21 2021-22 2022-23 2023-24 2024-25 $ 3,881,634,459 $ 3,953,647,970 $ 4,014,917,237 $ 4,290,972,163 $ 4,417,403,904 648,776,170 (497,030,965) Unrestricted Total governmental activities net position (2) $ 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 $ 5,641,264,805 952,856,180 725,605,728 6,095,865,812 Unrestricted Total primary government net position (2) Fiscal Year NET POSITION Governmental activities Net investment in capital assets Restricted Business-type activities (1) Net investment in capital assets Restricted Unrestricted Total business-type activities net position (2) Primary government Net investment in capital assets $ 3,881,634,459 $ 3,953,647,970 $ 4,014,917,237 $ 4,290,972,163 $ 4,417,403,904 Restricted 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 $ 5,641,264,805 952,856,199 725,605,728 $ 6,095,865,811 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 2015-16 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 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 $ 298,879,283 $ 299,036,354 1,105,661,191 1,151,866,658 76,998,103 81,764,699 423,976,768 421,783,977 57,510,396 54,634,235 30,388,968 32,487,572 7,793,505 10,201,276 2,001,208,214 2,051,774,771 $ 335,684,108 1,258,047,273 110,921,809 510,564,865 68,111,240 32,177,201 6,676,793 2,322,183,289 $ 181,797,152 $ 224,110,276 983,331,133 1,053,190,489 96,484,146 186,689,526 524,347,318 651,910,529 50,944,557 50,895,104 25,727,303 25,050,440 5,148,586 6,775,142 1,867,780,195 2,198,621,506 $ 231,820,454 1,196,705,109 126,498,359 919,001,491 56,826,436 24,428,055 7,846,000 2,563,125,904 $ 282,490,554 1,189,756,597 121,359,034 855,376,167 57,100,027 22,917,773 5,230,128 2,534,230,280 $ 335,518,167 1,377,039,062 186,637,772 878,967,437 68,613,208 22,630,390 8,017,533 2,877,423,569 $ 360,086,682 1,423,307,636 130,166,899 858,019,574 72,405,714 9,327,080 4,408,813 2,857,722,398 $ 323,427,903 1,506,062,754 127,349,089 865,628,484 65,863,769 20,726,860 14,980,580 2,924,039,438 22,170,085 21,540,873 21,540,873 22,170,085 $ 2,023,378,299 $ 2,073,315,644 26,543,652 26,543,652 $ 2,348,726,941 29,808,837 28,013,475 29,808,837 28,013,475 $ 1,897,589,032 $ 2,226,634,981 $ 2,563,125,904 $ 2,534,230,280 $ 2,877,423,569 $ 2,857,722,398 $ 2,924,039,438 $ $ $ $ $ $ $ $ 25,333,842 $ 33,053,012 146,926,079 144,995,226 12,697,999 21,201,835 53,314,590 57,117,315 16,899,346 18,850,252 1,482,306 303,176 299,738,864 291,283,576 43,627,038 48,872,828 605,265,854 610,431,430 4,656,105 17,062,511 280,121 21,998,737 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 3,080,820 17,720,704 23,354,184 44,155,708 5,432,500 18,735,718 20,696,076 44,864,294 $ 627,264,591 $ 654,587,138 $ 660,078,109 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 6,117,889 20,857,185 3,945,673 30,920,747 6,531,775 17,754,740 12,375,329 36,661,844 $ 611,506,848 $ 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 36,140,118 162,553,995 31,821,210 69,106,818 19,301,975 946,355 532,584,128 44,090,637 896,545,236 $ 896,545,236 Maricopa County Changes in Net Position (Continued) 2015-16 2016-17 Governmental activities $ (1,395,942,360) $ (1,441,343,341) $ (1,706,969,474) $ (1,287,194,094) $ (1,506,364,584) $(1,587,284,431) $(1,554,281,735) $ (1,932,918,311) $ (1,772,881,920) $ (2,027,494,202) Business-type activities (1) (171,348) $ (1,396,113,708) 22,614,835 $ (1,418,728,506) 18,320,642 1,111,910 $ (1,688,648,832) $ (1,286,082,184) 8,648,369 $ (1,497,716,215) $ (1,587,284,431)$(1,554,281,735) $ (1,932,918,311) $ (1,772,881,920) $ (2,027,494,202) $ $ $ $ $ 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 Net (Expense)/Revenue 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 $ 492,533,082 $ 528,258,272 555,750,125 $ 593,694,954 627,273,672 667,714,689 $ 682,211,005 670,387,860 681,741,975 $ 690,494,521 49,311,618 58,160,420 62,216,487 65,992,307 70,471,344 75,320,159 80,260,117 75,680,136 77,055,073 78,007,757 Property taxes, levied for Library District 19,624,840 20,361,928 21,525,613 22,817,801 24,236,319 25,710,591 27,508,646 26,451,216 26,893,877 27,240,879 Property taxes, levied for Street Light District 4,651,612 4,802,705 5,488,949 5,806,391 5,694,636 4,357,486 4,467,376 4,560,197 5,350,756 6,291,283 Unrestricted share of state sales taxes 497,359,100 520,259,714 552,699,587 589,779,232 622,830,699 727,604,497 866,717,711 920,121,746 952,466,018 978,470,776 Sales tax – Jail construction & operation 146,246,549 152,780,682 161,856,282 172,789,542 182,556,542 210,484,572 249,052,141 270,221,440 279,052,570 284,580,135 4,772,596 4,740,138 5,973,721 6,003,193 4,882,593 3,842,556 6,558,390 7,660,619 7,544,934 7,413,735 146,241,079 152,286,541 162,544,146 172,111,273 173,793,081 197,558,288 194,915,156 207,248,974 214,066,487 224,075,538 Grants and contributions not restricted to specific programs 3,285,655 3,153,762 3,542,818 1,695,129 1,709,483 1,932,630 3,625,878 3,838,049 4,150,595 4,336,463 Unrestricted investment earnings 8,411,227 6,422,992 11,828,376 44,936,986 45,026,659 2,571,499 (104,256,572) 48,239,269 138,444,500 146,818,040 Surcharge tax – Stadium District Unrestricted share of state vehicle lic. tax Miscellaneous Total governmental activities 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 34,366,082 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 2,482,095,209 14,229 293,214 Business-type activities: (1) Unrestricted investment earnings 14,686 3,516 Gain (loss) on disposal of capital assets 2,513,522 10,408 Miscellaneous 1,809,260 336,929 4,337,468 350,853 271,740 1,234,236 229,286 80,505 243,515 358,696 Special item – repayment agreement. Special item – forgiveness of debt 373,719 1,864,672 $ 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 $ 2,482,095,209 $ $ $ 355,017,166$ 511,655,488 $ 346,445,818 $ 687,005,483 $ 454,601,006 $ 355,017,166$ 511,655,488 $ 346,445,818 $ 687,005,483 $ 454,601,006 Total business-type activities Total primary government Change in Net Position Governmental activities Business-type activities (1) Total primary government $ (10,557,337) $ 23,606,144 $ (150,428,883) $ 404,847,805 4,166,120 22,965,688 18,564,157 1,485,629 (6,391,217) $ 46,571,832 $ (131,864,726) $ 406,333,434 (1) 262,669,841 10,513,041 $ 273,182,882 Beginning in FY21, the County has no business-type activities. 306 Maricopa County Fund Balances, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Year 2015-16 2016-17 2017-18 2019-20 2018-19 General Fund Nonspendable $ 13,987,368 $ 9,160,980 $ 3,117,940 $ 2,900,922 181,008,620 $ 4,674,317 $ $ 3,586,438 184,441,837 32,584,403 220,144,180 211,707,531 25,752,261 240,360,714 $ 166,454,076 133,527,954 303,568,468 $ 3,525,455 $ 3,440,019 $ Restricted Committed Assigned Unassigned Total general fund 134,647,118 133,944,163 14,096,188 $ 162,027,719 $ $ $ 37,200,522 All Other Governmental Funds Nonspendable 4,219,798 5,565,851 Restricted 589,023,438 604,371,629 635,874,336 545,448,438 673,961,703 Committed 573,918,793 523,158,485 463,839,100 553,189,236 641,767,542 (11,300,036) $ 1,091,938,855 (9,003,731) $ 1,093,073,962 (10,054,016) $ 1,311,241,080 2023-24 2024-25 Assigned (7,626,568) (25,927,760) $ 1,159,535,461 $ 1,106,276,671 2020-21 2021-22 Unassigned Total all other governmental funds (a) Fiscal Year 2022-23 General Fund Nonspendable $ 3,414,556 $ 4,567,866 $ 5,470,789 $ $ $ 5,739,628 $ 7,002,446 413,039,268 $ 358,489,153 43,917,078 409,408,677 7,572,741 $ 6,924,780 Restricted Committed Assigned Unassigned Total general fund 440,118,199 177,293,640 $ 620,826,395 683,820,008 22,775,281 $ 711,163,155 $ 429,119,084 11,866,022 446,455,895 $ $ $ 8,714,784 407,299,640 All Other Governmental Funds Nonspendable 10,303,661 9,964,822 Restricted 680,442,244 1,199,101,971 1,055,307,227 723,136,113 877,395,033 Committed 637,940,735 886,672,204 987,029,393 1,269,870,979 1,509,319,096 (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 (28,294,246) $ 2,365,344,663 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 2016-17 2015-16 2017-18 2018-19 Revenues Taxes $ 700,515,589 $ 750,405,039 $ 795,277,329 $ 847,090,715 Licenses and permits 48,262,561 48,700,983 49,810,802 50,182,867 Intergovernmental 981,754,741 998,720,971 1,055,046,783 1,099,920,175 Charges for services 168,530,522 185,427,699 179,472,435 179,199,628 Fines and forfeits 25,493,837 26,310,542 24,538,265 22,608,121 Special assessments 4,651,612 4,802,705 5,696,239 5,806,391 Interest income Miscellaneous 8,430,222 14,674,505 6,759,042 42,248,589 11,762,370 14,643,036 43,241,506 18,561,729 Total revenues 1,952,313,589 2,063,375,570 2,136,247,259 2,266,611,132 Settlement Revenue Expenditures General government 150,486,509 166,780,945 158,063,474 164,077,141 1,028,863,167 1,052,402,924 1,009,352,169 1,067,426,744 Highways and streets 53,598,284 60,715,322 68,695,845 72,644,031 Health, welfare and sanitation 420,071,249 418,692,520 512,762,868 529,466,214 Culture and recreation 39,798,518 36,493,895 38,469,355 42,687,958 Education 30,097,656 32,585,868 32,652,609 26,180,509 Principal 11,306,342 159,062,866 128,699,375 27,414,666 Interest 13,032,602 10,201,276 6,683,405 5,159,606 26,350 182,229 776,046 2,970 Public safety Debt service Other Payment to escrow agent Capital outlay Total expenditures 236,196,502 208,901,034 270,958,232 304,754,331 1,983,477,179 2,146,018,879 2,227,113,378 2,239,814,170 (31,163,590) (82,643,309) (90,866,119) 26,796,962 Excess (deficiency) of revenues over expenditures Other financing sources (uses) Transfers in 400,522,300 514,645,299 653,076,678 506,382,572 Transfers out (400,522,300) (514,576,467) (653,117,823) (511,525,439) 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 Premium on refunding bonds 10,119,673 Payment to escrow agent (29,910,000) Lease agreements Total other financing sources (uses) (16,023,627) Net change in fund balances $ (47,187,217) 47,933,292 $ (34,710,017) 116,500,502 $ 25,634,383 (5,142,867) $ 21,654,095 Debt service as a percentage of noncapital expenditures 1.4% 8.5% (a) Data was adjusted in fiscal year 2021. 308 6.7%(a) 1.7% Fiscal Year 2020-21 2019-20 $ 892,237,482 $ 970,262,622 2022-23 2021-22 $ 1,031,994,962 $ 1,037,953,474 2023-24 $ 1,056,994,759 2024-25 $ 1,078,921,730 49,279,753 55,560,181 57,136,064 54,810,300 57,912,147 59,801,085 1,213,427,734 1,592,630,744 1,715,223,820 1,756,696,959 1,805,890,177 1,793,564,635 201,807,783 203,773,234 205,379,066 216,515,544 202,956,330 211,820,038 33,785,292 15,082,543 18,617,811 18,393,799 17,345,362 17,380,120 18,130,740 18,767,294 5,694,636 4,357,486 4,467,376 4,560,197 5,350,756 6,290,643 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 76,873,413 154,539,235 35,996,911 2,444,742,135 2,872,017,676 2,990,028,572 3,194,460,129 3,405,384,302 3,374,634,631 175,916,391 191,883,280 228,140,297 224,169,318 263,546,475 260,962,200 1,017,005,967 1,052,776,254 1,197,746,043 1,544,872,159 1,557,110,136 1,484,861,942 83,928,382 82,383,930 85,331,611 94,888,243 91,894,788 88,629,349 636,348,147 906,765,536 847,351,130 857,422,650 858,393,626 844,627,607 42,841,396 46,307,685 47,614,333 52,145,219 60,660,456 54,723,348 24,643,209 23,969,852 22,588,267 21,475,649 15,892,581 21,616,483 66,450,775 64,541,059 95,530,556 379,221,870 381,587,337 99,578,559 6,775,142 7,846,000 6,385,861 9,354,852 7,406,141 14,554,163 448,350 438,550 825,546 1,133,346 267,678,531 229,712,036 287,005,911 407,453,774 500,799,885 343,252,283 2,322,413,486 2,606,185,632 2,818,827,355 3,591,003,734 3,737,739,775 3,213,244,484 122,328,649 265,832,044 171,201,217 (396,543,605) (332,355,473) 161,390,147 596,002,917 508,931,067 940,081,573 1,238,448,689 861,224,282 895,800,855 (601,002,917) (508,931,067) (940,081,573) (1,238,434,189) (861,227,782) (895,800,855) 20,397,791 27,083,511 11,807,957 17,824,516 5,894,810 15,241,638 66,900,079 133,440,000 643,635,000 64,487,674 21,814,696 190,450,000 180,000,000 14,504,078 275,333,062 15,804,480 232,860,814 7,397,084 $ 278,563,524 3.4%(a) 10,185,086 665,628,043 27,083,511 156,234,875 $ 292,915,555 3.0% $ 836,829,260 4.0% 84,739,095 $ (311,804,510) 11.9% 309 $ (57,022,411) 12.0% $ 394,250,961 3.9% 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 2015-16 549,496,444 497,359,100 156,925,539 102,652,222 2016-17 592,884,219 520,259,714 163,564,070 110,015,688 2017-18 627,447,326 (1) 552,699,587 174,552,131 114,233,608 2018-19 668,297,980 (1) 589,779,232 184,797,765 120,514,438 2019-20 704,798,347 (1) 622,830,699 186,644,889 115,626,687 2020-21 755,935,494 727,604,497 212,392,095 123,178,753 2021-22 776,384,431 866,717,711 209,460,690 132,192,701 2022-23 760,071,415 920,121,746 223,816,111 134,837,064 2023-24 770,397,255 952,466,018 229,850,458 136,314,453 2024-25 786,927,860 978,470,776 242,128,429 138,701,881 Change 43.2% 96.7& 54.3% 35.1% 2016-25 Rental Fiscal Year Car Surcharge Street Jail Tax Lighting Assessments Total Revenues 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 2024-25 7,413,735 284,580,135 6,290,643 2,444,513,459 Change 112.1% 94.6% 35.2% 67.3% 2016-25 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 13 100.0% Maricopa County Assessed Value and Estimated Market Value of Taxable Property Last Ten Fiscal Years (in thousands of dollars) Property Values Fiscal Total Total Secured Year Assessed Direct and Unsecured Total Assessed Value as a Ended June 30, Secured Unsecured Total Tax Rate Estimated Market Value Percentage of Total Estimated Market Value 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% 2024-25 53,876,585 4,452,101 58,328,686 1.3531 581,128,325 10.0% 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 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 2024-25 1.1591 0.0000 0.1470 0.0470 1.3531 Overlapping Rates Central Arizona State Fiscal Year of Arizona Education Equalization Water Other Community Conservation District Special Districts College District School Districts Cities 2015-16 0.0000 0.5054 0.1400 0 - 7.1179 1.4940 0.8514 - 11.1449 0 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 0 - 3.2071 - 3.9715 2022-23 0.0000 0.0000 0.1400 0 - 4.3378 1.1894 1.2755 - 9.0802 2023-24 0.0000 0.0000 0.1400 0 - 4.4168 1.1388 1.2287 - 9.4429 0 - 2.9823 2024-25 0.0000 0.0000 0.1400 0 – 5.0328 1.1047 1.2080 – 11.8490 0 - 2.7856 Source: Maricopa County Office of Budget and Finance All tax rates are per $100 assessed valuation. 312 Maricopa County Principal Property Taxpayers Current Year and Nine Years Ago 2024-25 2015-16 Percentage of Percentage of Total County Secondary Valuation Taxpayer Rank Assessed Value Total County Secondary Valuation 1,081,236,150 Rank Assessed Value 1 3.12% 0.44% ARIZONA PUBLIC SERVICE 1,575,309,136 1 1.40% SALT RIVER PROJECT (T&D) 918,628,815 2 0.82% SOUTHWEST GAS CORPORATION (T&D) 260,470,970 3 0.23% 151,458,063 2 SMITHS FOOD & DRUG CENTERS INC 155,533,023 4 0.14% 39,298,742 18 0.11% SOUTHERN CALIFORNIA EDISON CO (T&D) 143,428,382 5 0.13% 133,176,587 4 0.38% ROSS DRESS FOR LESS INC 139,090,835 6 0.12% MAYO CLINIC ARIZONA 138,180,530 7 0.12% TSMC ARIZONA CORPORATION 134,852,652 8 0.12% EL PASO ELECTRIC CO (T&D) 117,510,886 9 0.10% CAMDEN USA INC 110,975,613 10 0.10% SCOTTSDALE FASHION SQUARE LLC 104,179,333 11 0.09% WAL-MART STORES INC 103,439,458 12 0.09% TARGET CORPORATION 98,958,760 13 0.09% PORTALES CORPORATE CENTER LLC 94,415,648 14 0.08% ALIGNED DATA CENTERS PHOENIX PROPCO LLC 91,790,604 15 0.08% TWC-CHANDLER LLC 85,147,486 16 0.08% INTEL CORPORATION 78,954,762 17 QWEST CORPORATION 76,451,551 VERIZON WIRELESS PUBLIC SERVICE COMPANY OF NEW MEXICO (T& 0.35% 119,735,509 5 0.35% 95,116,249 6 0.27% 54,081,831 12 0.16% 0.07% 42,107,998 17 0.12% 18 0.07% 141,676,486 3 0.41% 75,014,701 19 0.07% 64,751,991 11 0.19% 74,960,734 20 0.07% 69,688,803 9 0.20% ARIZONA SOLAR ONE LLC 77,907,385 7 0.23% AT&T 77,886,205 8 0.22% SUNDEVIL POWER HOLDINGS, LLC 65,266,335 10 0.19% NEW HARQUAHALA GENERATING CO, LLC 52,725,000 13 0.15% GILA RIVER POWER, LLC SOUTHERN CAL PUBLIC POWER AUTHORITY (PALO VERDE) 47,700,029 14 0.14% 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% 45,675,174 Total Principal Taxpayers $ 4,577,293,881 Countywide Secondary Valuation $112,459,810,476 Source: Maricopa County Assessor’s Office. 313 4.07% $ 2,476,150,899 $ 34,623,670,323 7.15% 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 2015-16 539,956,426 532,594,860 98.64 4,248,679 536,843,539 99.42 98.30 4,051,163 578,912,382 99.00 98.20 4,053,224 612,235,874 98.85 98.47 1,364,653 646,413,890 98.68 97.45 5,787,782 687,976,734 98.28 98.53 1,664,200 731,843,322 98.75 98.46 366,495 751,937,539 98.51 98.57 (1,119,203) 733,242,347 98.42 98.34 97.00 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 584,777,057 619,337,610 655,074,951 700,013,306 741,108,549 763,298,461 745,045,377 Collections 574,861,219 608,182,650 645,049,237 682,188,952 730,179,122 751,571,044 734,361,550 In Subsequent Years Amount 2023-24 763,124,614 747,258,293 97.92 750,472,164 2024-25 782,700,870 759,250,556 97.00 759,250,556 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 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 2024-25 676,087,804 79,198,583 27,414,483 782,700,870 Source: Maricopa County Office of Budget and Finance 314 Percentage of Levy Maricopa County Ratios of Outstanding Debt by Type Last Ten Fiscal Years Other Governmental Activities Debt Fiscal Lease Stadium Year Ended June 30, Revenue Bonds District Rev. Bonds 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 54,755,000 Certificates Special Assessment Bond Premium of Participation 22,913 14,464 6,813 10,809,836 5,211,138 9,650,549 8,042,124 12,555,424 7,886,137 3,216,849 1,608,424 185,580,000 230,040,000 239,530,000 122,185,000 236,125,000 170,870,000 249,525,000 110,955,000 207,350,000 145,450,000 12,685,000 9,280,000 5,800,000 Leases 46,283,111 38,071,774 42,792,910 46,195,119 Business-Type Activities Fiscal Year Ended June 30, 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 Subscriptions Financed Purchases 59,616,041 99,772,888 92,114,487 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 21,136,447 Fiscal Total Percentage Year Ended June 30 Primary of Assessed Government (c) Property Value (a) 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 288,159,956 283,830,438 284,776,265 162,025,030 304,688,519 226,237,439 838,741,428 (2) 491,638,711 373,635,123 484,896,053 0.83% 0.79% 0.74% 0.40% 0.71% 0.49% 1.72% (2) 0.95% 0.68% 0.83% Pledged Revenue Obligations Housing Authority Debt (d) 6,325,996 27,855,398 26,099,216 30,216,072 35,224,245 500,825,000 251,755,000 180,000,000 Per Capita (b) 69.39 67.05 65.99 37.11 68.67(1) 50.20 182.87 (2) 105.39 (2) 78.53 100.5 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 2015-16 2016-17 2017-18 2018-19 2019-20 $5,193,550,548 $ 5,420,324,171 $ 5,737,783,687 $ 6,063,484,863 $ 6,479,148,959 $5,193,550,548 $ 5,420,324,171 $ 5,737,783,687 $6,063,484,863 $ 6,479,148,959 0% 0% 0% 0% 0% 2020-21 2021-22 2022-23 2023-24 2024-25 $ 6,855,745,472 $ 10,130,251,221 $ 10,835,747,234 $ 13,733,573,771 $ 16,868,971,571 $ 6,855,745,472 $ 10,130,251,221 $ 10,835,747,234 $ 13,733,573,771 $ 16,868,971,571 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 2024-25 Full Cash Value Net Assessed Debt limit (15% of assessed value) $ 112,459,810,476 16,868,971,571 Debt applicable to limit: General obligation bonds Total net debt applicable to limit Legal debt margin $ 16,868,971,571 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 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% 2024-25 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 2015-16 23,361 17,300 21,814 1,801 23,615 99% 73% 2016-17 4,354 12,059 8,449 1,146 9,595 45% 126% 2017-18 5,077 8,940 7,651 545 8,196 62% 109% 2018-19 0 0 6,813 0 6,813 0% 0% 2019-20 0 0 0 0 0 0% 0% 2020-21 0 0 0 0 0 0% 0% 2021-22 0 0 0 0 0 0% 0% 2022-23 0 0 0 0 0 0% 0% 2023-24 0 0 0 0 0 0% 0% 2024-25 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 2015-16 2016-17 2017-18 2018-19 2019-20 Unemployment Rate (June 30) County 5.30% 4.50% 4.10% 4.50% 10.30% (2) State 5.80% 5.10% 4.70% 4.90% 10.80% (2) United States 4.90% 4.40% 4.00% 3.70% 11.10% (2) Population/Income Statistics Income (in thousands) $ Population Per Capita $ 185,111,698 $ 196,779,825 4,152,800 4,233,300 44,575 $ 46,484 $ 209,719,687 $ 223,097,349 $ 245,077,753 4,315,600 4,366,583 4,436,908 (1) $ 48,596 $ 51,092 $ 55,236 Fiscal Year 2020-21 2021-22 2022-23 2023-24 2024-25 Unemployment Rate (June 30) County 6.60% 3.30% 3.90% 3.40% 3.90% State 7.30% 3.30% 4.40% 3.90% 4.50% United States 5.90% 3.60% 3.80% 4.30% 4.40% Population/Income Statistics Income (in thousands) $ 249,677,860 $ 55,404 (2) Population Per Capita $ 4,506,505 268,713,717 $ 4,586,431 (2) $ 58,589 (2) 288,842,282 $ 4,665,020 (2) $ 61,917 (2) $ 312,350,417 (3) 4,757,613 4,841,695 65,653 (3) 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. (3) Income and per capita estimates were not available for fiscal year 2025. 318 Maricopa County Principal Employers Current Year and Nine Years Ago 2016 2025 Percentage of Employer Employees Rank Total County Employment Percentage of Rank Total County Employment 35,406 2 1.85% Employees Banner Health 48,869 1 2.00% Amazon.com 40,000 2 1.64% State of Arizona 39,733 3 1.63% 50,816 1 2.65% Walmart 37,979 4 1.56% 32,373 3 1.69% Arizona State University 35,754 5 1.46% 12,676 8 0.66% University of Arizona 22,391 6 0.92% 11,442 10 0.60% Fry's Food Stores 20,000 7 0.82% 17,286 4 0.90% Honor Health 16,969 8 0.69% Dignity Health Arizona 14,676 9 0.60% 12,100 9 0.63% City of Phoenix 14,452 10 0.59% 14,585 5 0.76% Wells Fargo 14,480 6 0.76% Maricopa County 13,567 7 0.71% Total for Principal Employers Total Employment in Maricopa County 290,838 11.91% 1,917,400 2,442,100 As of June 30 Source: 214,731 The Phoenix Business Journal, Book of Lists. Arizona’s Economy – www.azeconomy.org 319 11.20% Maricopa County Budgeted Full-time Equivalent County Employees by Function/Program Last Ten Fiscal Years Fiscal Year Function/Program 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 General Government Board of Supervisors 28 28 28 27 27 29 28 28 29 Call Center 27 27 22 20 20 20 20 37 36 36 County Assessor 315 311 310 296 296 296 296 295 289 295 County Manager 18 17 21 31 34 27 17 23 24 29 Elections 52 52 28 31 29 57 56 66 67 54 Facilities Management 165 239 136 137 136 141 141 141 144 154 29 Finance 39 38 37 39 39 33 47 51 54 54 Human Resources 46 46 47 77 104 101 102 109 107 107 Enterprise Technology 216 214 215 217 217 205 205 211 212 212 Internal Audit 18 18 18 19 19 20 20 20 20 20 Management and Budget 19 19 16 16 15 15 28 Procurement Services 40 37 27 27 27 26 26 26 26 Other General Government 85 86 87 90 91 91 88 91 92 89 Recorder 56 56 87 86 89 96 101 102 96 123 59 70 70 68 71 71 70 Employee Health Initiatives 28 25 25 Treasurer 55 57 64 Deputy County Manager 12 11 Assistant County Manager 9 9 Real Estate 9 9 5 3 12 10 9 14 30 32 32 32 35 37 36 36 Public Safety 1,143 1,164 1,200 1,197 1,201 1,192 1,167 1,154 1,155 1,181 Clerk of Superior Court 680 689 695 692 686 670 674 679 679 678 Constables 36 37 37 37 37 37 37 38 37 37 County Attorney 984 999 1,022 1,020 1,059 1,051 1,056 1,082 1,102 1,097 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 2,681 44 44 52 73 202 211 212 211 590 Adult Probation 44 48 48 3,982 3,859 3,850 Deputy County Manager 16 15 15 Assistant County Manager 4 4 10 2,455 37 190 660 101 104 48 3,846 14 3 416 421 423 425 429 2,387 2,431 2,459 Emergency Management 17 16 36 Flood Control 187 186 188 Juvenile Probation 703 674 659 Medical Examiner 88 94 100 Planning & Development 80 85 88 Public Fiduciary Sheriff 602 597 591 94 116 119 121 113 124 128 127 51 67 67 67 3,986 3,951 4,025 4,037 4 2 2 2 9 11 11 10 439 437 435 487 461 Highways and Streets Transportation Health, Welfare and Sanitation Air Quality 145 144 143 150 154 156 155 158 154 156 Animal Control 169 174 185 188 179 183 176 177 183 193 Correctional Health 475 482 486 484 491 502 500 550 561 560 Environmental Services 288 281 279 297 295 293 294 300 306 303 Human Services Other Health, Welfare and Sanitation 399 545 358 369 343 340 385 444 448 404 11 12 12 Public Health 633 622 618 547 523 552 585 809 832 793 Waste Resources and Recycling Mgmt 22 22 22 Assistant County Manager 2 Culture and Recreation Library District 164 165 168 168 168 179 186 251 214 213 Parks and Recreation 78 82 82 91 94 96 96 98 102 102 Stadium District 5 5 5 1 145 102 121 90 86 84 86 64 63 62 14,427 14,507 14,640 14,736 15,291 15,506 15,507 Education Education Service Total 14,531 14,648 14,516 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) 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 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 1,735,285 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 2,657,947 2,078,460 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 29,166 515,882 21,150,832 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 37,267 10,189 165 0 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 19 82 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 0 3,632 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 53 125 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 263,639 268,025 286,792 285,201 250,412 211,967 223,318 264,831 289,254 311,469 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 2,266 44 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 1,013,496 597,360 5,235 5,223 5,195 4,887 4,335 2,415 2,394 3,016 3,617 3,855 18 19 22 24 28 29 31 31 29 25 182,632 184,793 181,338 183,742 167,054 155,607 152,375 162,019 172,260 178,490 330,800 113,016 336,744 125,543 341,530 111,634 331,327 118,032 328,562 157,780 385,196 123,129 401,790 140,718 383,123 158,651 374,719 155,914 371,003 135,690 8,425 7,391 6,265 39,218 73,750 730,134 820,877 254,730 143,620 135,750 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 7,856,503 153,205 686,477 693,332 703,287 717,853 745,409 683,474 674,239 588,657 583,315 582,068 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 58 20,682 19,633 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 2015-16 2016-17 2017-18 2018-19 2019-20 29 28 27 29 30 203 203 202 208 210 2020-21 2021-22 2022-23 2023-24 2024-25 30 30 30 N/A (1) 210 216 216 216 General Government Facilities Management Number of buildings owned by Facilities Number of buildings maintained by Facilities 30 200 Public Safety Flood Control District 368 394 400 405 409 410 413 412 416 429 Justice Courts 26 26 26 26 26 26 26 26 26 26 Juvenile Courts 2 2 2 2 2 2 2 2 2 2 11,013 10,006 9,329 9,329 8,476 8,476 9,027 8,998 8,494 8,821 6 6 6 5 5 5 6 6 6 6 Operating alert stations Sheriff Inmate beds available (incl. portable) Number of jail facilities Highways and Streets Transportation Miles of Road 5,411 5,390 5,402 5,269 5,313 5,210 5,203 5,203 5,169 5,186 Miles of road with paved surfaces 4,581 4,578 4,609 4,509 4,167 4,462 4,460 4,467 4,438 4,456 Number of major bridges 20 20 20 20 20 20 20 22 19 18 Number of total bridges 287 287 291 291 294 295 294 302 289 293 2 2 2 2 2 2 2 2 2 2 Health, Welfare and Sanitation Animal Care and Control Number of animal shelters Public Health Number of public health facilities 21 21 24 21 21 24 22 17 15 15 Number of WIC facilities 15 14 17 17 16 18 16 14 12 11 6 6 6 6 6 6 6 6 6 6 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 4 4 Facilities operated 16 16 16 16 15 15 15 12 12 11 12 Parks and Recreation Regional county parks 9 9 11 12 12 12 12 12 12 County managed golf courses 3 3 3 3 3 3 3 3 3 3 119,257 119,968 120,039 121,185 121,185 186,109 186,612 186,798 186,798 120,461 1 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 Total acres managed Conservation areas Stadium District Major league baseball field (1) Beginning in fiscal year 2025, Facilities no longer reports owned versus maintained buildings separately Source: Various County Agencies. Note: Indicators for Education are not available. 322 www.maricopa.gov