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AGENDA ORO VALLEY
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
FEBRUARY 18, 2025
COUNCIL CHAMBERS
11000 N. LA CAÑADA DRIVE
REGULAR SESSION AT OR AFTER 4:00 PM
CALL TO ORDER
ROLL CALL
PLEDGE OF ALLEGIANCE
CALL TO AUDIENCE - at this time, any member of the public is allowed to address the Commission on any
issue not listed on today’s agenda. Pursuant to the Arizona open meeting law, individual Commission
members may ask Town staff to review the matter, ask that the matter be placed on a future agenda, or
respond to criticism made by speakers. However, the Commission may not discuss or take legal action on
matters raised during "Call to Audience." In order to speak during "Call to Audience", please specify what
you wish to discuss when completing the blue speaker card.
STAFF LIAISON REPORT
REGULAR SESSION AGENDA
1.REVIEW AND APPROVAL OF THE JANUARY 21, 2025 REGULAR SESSION MEETING MINUTES
2.DISCUSSION AND POSSIBLE ACTION ON ELECTING A CHAIR FOR THE BUDGET AND FINANCE
COMMISSION TO BEGIN 2/19/25.
3.DISCUSSION AND POSSIBLE ACTION ON ELECTING A VICE-CHAIR FOR THE BUDGET AND
FINANCE COMMISSION TO BEGIN 2/19/25
4.PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN FY 24/25 FINANCIAL UPDATE
THROUGH DECEMBER 2024 (Please reference attachments)
COUNCIL LIAISON COMMENTS
ADJOURNMENT
POSTED:2/14/25 at 5:00 PM by dt.
When possible, a packet of agenda materials as listed above is available for public inspection at least 24 hours prior
to the Commission meeting in the Town Clerk's Office between the hours of 8:00 a.m. – 5:00 p.m.
The Town of Oro Valley complies with the Americans with Disabilities Act (ADA). If any person with a disability needs
any type of accommodation, please notify the Town Clerk’s Office at least five days prior to the Commission meeting
at 229-4700.
INSTRUCTIONS TO SPEAKERS
Members of the public have the right to speak during any posted public hearing. However, those items not
listed as a public hearing are for consideration and action by the Commission during the course of their
business meeting. Members of the public may be allowed to speak on these topics at the discretion of the
Chair.
If you wish to address the Commission on any item(s) on this agenda, please complete a blue speaker card located
on the Agenda table at the back of the room and give it to the Recording Secretary. Please indicate on the
speaker card which item number and topic you wish to speak on, or if you wish to speak during “Call to
Audience,” please specify what you wish to discuss when completing the blue speaker card.
Please step forward to the podium when the Chair announces the item(s) on the agenda which you are interested in
addressing.
1. For the record, please state your name and whether or not you are a Town resident.
2. Speak only on the issue currently being discussed by the Commission. Please organize your speech, you will only
be allowed to address the Commission once regarding the topic being discussed.
3. Please limit your comments to 3 minutes.
4. During “Call to Audience”, you may address the Commission on any issue you wish.
5. Any member of the public speaking must speak in a courteous and respectful manner to those present.
Thank you for your cooperation.
“Notice of Possible Quorum of the Oro Valley Town Council, Boards, Commissions and Committees: In accordance
with Chapter 3, Title 38, Arizona Revised Statutes and Section 2-4-4 of the Oro Valley Town Code, a majority of the
Town Council, Board of Adjustment, Historic Preservation Commission, Parks and Recreation Advisory Board,
Stormwater Utility Commission, and Water Utility Commission may attend the above referenced meeting as a
member of the audience only.”
Budget and Finance Commission 1.
Meeting Date:02/18/2025
Submitted By:Melissa Flores, Legal
SUBJECT:
REVIEW AND APPROVAL OF THE JANUARY 21, 2025 REGULAR SESSION MEETING MINUTES
RECOMMENDATION:
Staff recommends approval
EXECUTIVE SUMMARY:
N/A
BACKGROUND OR DETAILED INFORMATION:
N/A
FISCAL IMPACT:
N/A
SUGGESTED MOTION:
I MOVE to approve the January 21, 2025 regular session meeting minutes.
Attachments
BFC Minutes (DRAFT) 012125
D R A F T
MINUTES
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
JANUARY 21, 2025
COUNCIL CHAMBERS
11000 N. LA CAÑADA DRIVE
REGULAR SESSION AT OR AFTER 4:00 PM
CALL TO ORDER AT 4:00 PM BY CHAIR MASON
ROLL CALL
Present: Joyce Garland, Member
Michael Mason, Chair
Matthew Miller, Member
Absent:Jennifer Carr, Vice Chair (EXCUSED)
Staff Present:Joe Winfield, Mayor
David Gephart, Chief Financial Officer
Wendy Gomez, Deputy Finance Director
Chris Hutchison, Senior Budget Analyst
Tobin Sidles, Town Attorney
Attendees: Brian Hammerle, CPA, CFE, Presenter of Agenda Item No. 3
PLEDGE OF ALLEGIANCE led by Chair Mason.
CALL TO AUDIENCE - No Speaker Cards were received.
STAFF LIAISON REPORT
Chief Financial Officer, David Gephart reported on the following:
- Staff preparing end of calendar year tasks.
- Upcoming Agenda Items of interest for the Budget amd Finance Commission to be addressed at the next
Council Meeting:
- Possible Action on a proposed exemption from the Rooney Ranch planned area of development
sign standards for the Bank of America building.
- Discussion and direction to the Philips Company LLC and Staff regarding three
separate right-of-way vacation requests.
- Discussion and possible action to post Calle Buena Vista as a no parking zone.
REGULAR SESSION AGENDA
1.REVIEW AND APPROVAL OF THE NOVEMBER 19, 2024 REGULAR SESSION MEETING MINUTES
1/21/25 Minutes, Budget and Finance Commission Regular Session 1
Motion by Member Joyce Garland, seconded by Member Matthew Miller to approve the November 19,
2024 regular session meeting minutes.
Vote: 3 - 0 Carried
2.DISCUSSION AND POSSIBLE ACTION ON ELECTING A CHAIR AND VICE CHAIR FOR THE
BUDGET AND FINANCE COMMISSION FOR THE UPCOMING YEAR
Motion by Member Matthew Miller, seconded by Member Joyce Garland to elect Commissioner Carr as
the Chair and to elect Commissioner Garland as the Vice-Chair for the Budget and Finance Commission
for the 2025 calendar year.
Vote: 3 - 0 Carried
3.PRESENTATION AND DISCUSSION OF TOWN ANNUAL COMPREHENSIVE FINANCIAL REPORT,
SINGLE AUDIT, AND ALTERNATIVE EXPENDITURE LIMITATION REPORT FOR FY ENDED JUNE
30, 2024
Presentation by Brian Hemmerle, Lead Audit Partner. Discussion ensued amongst Staff and
Commissioners.
4.PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN FY 24/25 FINANCIAL UPDATE
THROUGH NOVEMBER 2024
Presentation by Wendy Gomez, Deputy Finance Director. Discussion ensued amongst Staff and
Commissioners.
COUNCIL LIAISON COMMENTS
Mayor Winfield provided the following comments:
- Extends appreciation for the Commissioners' service on the Budget and Finance Commission on behalf
of the Town Council.
- Interviews have been conducted for the vacant position of the Budget and Finance Commission and a
decision has been made and forwarded to Council for approval.
- The Mayor recently met with the new State Legislators, Representative Volk and Senator Leach and
discussed finances and grants.
- Golf membership has reached 410 members, which is a significant accomplishment.
ADJOURNMENT
Motion by Member Joyce Garland, seconded by Member Matthew Miller to adjourn the meeting at 5:01
PM.
Vote: 3 - 0 Carried
I hereby certify that the foregoing minutes are a true and correct copy of the minutes of the regular session of the
Town of Oro Valley Budget and Finance Commission of Oro Valley, Arizona held on the 21st day of January,
2025. I further certify that the meeting was duly called and held and that a quorum was present.
Dated this 21st day of January, 2025.
___________________________
Melissa Flores
1/21/25 Minutes, Budget and Finance Commission Regular Session 2
Melissa Flores
Legal Secretary
1/21/25 Minutes, Budget and Finance Commission Regular Session 3
Budget and Finance Commission 2.
Meeting Date:02/18/2025
Submitted By:David Gephart, Finance
SUBJECT:
DISCUSSION AND POSSIBLE ACTION ON ELECTING A CHAIR FOR THE BUDGET AND FINANCE
COMMISSION TO BEGIN 2/19/25.
RECOMMENDATION:
Staff recommends electing a Chair to serve for this year.
EXECUTIVE SUMMARY:
N/A
BACKGROUND OR DETAILED INFORMATION:
Jennifer Carr, who was elected Chair at the last meeting, unexpectedly resigned from the Budget & Finance
Commission due to a change in her personal circumstances. As such, a new Chair will need to be elected.
FISCAL IMPACT:
N/A
SUGGESTED MOTION:
I Move to elect ____________as the Chair of the Budget and Finance Commission for this calendar year.
Budget and Finance Commission 3.
Meeting Date:02/18/2025
Submitted By:David Gephart, Finance
SUBJECT:
DISCUSSION AND POSSIBLE ACTION ON ELECTING A VICE-CHAIR FOR THE BUDGET AND FINANCE
COMMISSION TO BEGIN 2/19/25
RECOMMENDATION:
Depending on who is elected Chair, a new Vice Chair may need to be elected as well.
EXECUTIVE SUMMARY:
N/A
BACKGROUND OR DETAILED INFORMATION:
This item is only necessary should current Vice Chair Joyce Garland be elected as Chair. Because Joyce was
elected Vice Chair at the prior meeting, a new Vice Chair may need to be elected.
If Joyce is not elected as Chair, this agenda item becomes unnecessary.
FISCAL IMPACT:
N/A
SUGGESTED MOTION:
I Move to elect ___________ as the Vice-Chair for the Budget and Finance Commission for this calendar year.
Budget and Finance Commission 4.
Meeting Date:02/18/2025
Submitted By:Christopher Hutchison, Finance
SUBJECT:
PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN FY 24/25 FINANCIAL UPDATE THROUGH
DECEMBER 2024 (Please reference attachments)
RECOMMENDATION:
N/A
EXECUTIVE SUMMARY:
Please reference the attachments for this item.
Financial Status Fiscal Year to Date Through December 2024:
General Fund
Highway Fund
Community Center Fund
Capital fund
Water Fund
Stormwater Fund
Appendix:
Appendix 1 – Golf Income statement
Appendix 2 – Golf Analysis
Appendix 3 – All funds YTD actuals + Fund balance
Appendix 4 – Local Sales Tax Collections detail
Appendix 5 – General Fund State Shared Revenues
Appendix 6 – Debt Service
Appendix 7 – Operating Investment Summary
Appendix 8 – Development Impact Fee Fund Projects
BACKGROUND OR DETAILED INFORMATION:
N/A
FISCAL IMPACT:
N/A
SUGGESTED MOTION:
N/A
Attachments
Dec 2024 Mid Year Financials
Town Manager’s Office
TOWN COUNCIL REPORT
DATE: February 12, 2025
TO: Mayor and Council
FROM: Jeff Wilkins, Town Manager
David Gephart, Chief Financial Officer
SUBJECT: December 2024 Financial Update
This financial update is intended to provide an overview and status of revenues and expenditures for the
Town’s selected funds through December 2024 for fiscal year 2024/25. Funds included in this financial
update are the General Fund, Highway Fund, Community Center Fund and Capital Fund. Also included
are the two enterprise funds, Water and Stormwater. Please note that all amounts are preliminary, un-
audited and subject to change. Additionally, figures may not include any adjusting audit entries
required at year-end.
Please note the new format of the report. Pages 1-15 are the financial status reports for the funds.
Appendix 1 and 2 provide further details on golf activity and contractor performance. Appendix 3 is the
consolidated report of all Town funds. Appendix 4 is the General Fund sales tax collections. Appendix 5 is
the General Fund state shared revenues. Appendix 6 is a breakdown of the Town’s outstanding debt
service principal and interest payments. Appendix 7 is a summary of operating investment values and
earnings by month. Appendix 8 lists the specific infrastructure projects that are eligible to receive funding
from impact fees.
General Fund
Financial Status Fiscal Year to Date: December 2024
Revenues `
Amount Percent
Local Sales Tax 13,315,962$ 12,813,938$ 28,708,825$ (15,894,887)$ 45% 27,374,126$
State Shared Revenues 11,237,689 10,117,909 20,432,937 (10,315,028) 50% 20,556,369
Licenses & Permits 969,704 925,527 1,673,022 (747,495) 55% 1,793,735
Grants 255,957 233,797 659,982 (426,185) 35% 567,929
Intergovernmental 710,135 400,602 1,981,555 (1,580,953) 20% 2,141,306
Charges for Service 1,510,151 1,483,599 2,966,467 (1,482,868) 50% 3,081,369
Other Revenue 681,859 988,895 684,000 304,895 145% 1,535,680
Total Revenues 28,681,457$ 26,964,266$ 57,106,788$ (30,142,522)$ 47% 57,050,514$
Uses
Amount Percent
Personnel Services 15,878,686$ 16,272,090$ 36,476,126$ 20,204,036$ 45% 35,507,892$
Operations and Maintenance 6,924,472 7,094,456 14,780,325 7,685,869 48% 14,380,325
Capital Outlay 173,398 88,139 531,600 443,461 17% 516,600
Transfers Out 7,136,644 5,458,073 9,403,341 3,945,269 58% 9,153,341
Total Uses 30,113,200$ 28,912,757$ 61,191,392$ 32,278,635$ 47% 59,558,158$
Change in Fund Balance
Total Revenues 28,681,457$ 26,964,266$ 57,106,788$ 57,050,514$ 57,050,514$
Total Uses (30,113,200) (28,912,757) (61,191,392) (59,558,158) (59,558,158)
Change in Fund Balance (1,431,743)$ (1,948,491)$ (4,084,604)$ (2,507,644)$ (2,507,644)$
Estimated Beginning Fund Balance 22,081,503$
Estimated Ending Fund Balance 17,996,899$ 19,573,859$ 19,573,859$
Note: The estimated ending fund balance exceeds the Town's 30% expenditure reserve policy by a margin of $4.3 million.
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
FY 2024/25
Budget
Year End
Estimate
Year End
Estimate
Year End
Estimate
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
FY 2023/24
Actuals
FY 2024/25
Actuals
Page 1 of 15
General Fund
Financial Status Fiscal Year to Date: December 2024
Local Sales Tax Revenue
Amount Percent
Construction 2,971,796$ 2,214,393$ 5,875,681$ (3,661,288)$ 38% 4,528,787$
Utilities 2,129,829 2,235,783 4,097,824 (1,862,041) 55% 4,223,963
Retail 4,354,157 4,431,208 9,447,680 (5,016,471) 47% 9,238,141
Remote Seller 945,258 885,636 1,914,724 (1,029,088) 46% 1,908,116
Bed Tax 881,403 954,090 2,464,858 (1,510,768) 39% 2,501,844
Restaurant & Bar 1,253,794 1,283,468 2,726,271 (1,442,803) 47% 2,839,341
Other 598,714 642,439 1,465,987 (823,548) 44% 1,474,287
Cable Franchise 181,011 166,920 715,800 (548,880) 23% 659,647
Local Sales Tax Total 13,315,962$ 12,813,938$ 28,708,825$ (15,894,887)$ 45% 27,374,126$
State Shared Revenue
Amount Percent
State Income Tax 6,389,741$ 5,138,550$ 10,276,631$ (5,138,081)$ 50% 10,276,631$
State Sales Tax 3,553,767 3,585,804 7,300,876 (3,715,072) 49% 7,347,547
Vehicle License Tax 1,157,987 1,255,378 2,520,803 (1,265,425) 50% 2,642,901
Smart and Safe 136,194 138,177 334,627 (196,450) 41% 289,289
State Shared Total 11,237,689$ 10,117,909$ 20,432,937$ (10,315,028)$ 50% 20,556,369$
Total local sales tax revenues are performing lower than expected primarily due
to construction sales tax. Residential home construction has slowed compared
to the prior year, as anticipated. Consequently, the year-end revenue estimate
has been adjusted downward to reflect reduced year-to-date commercial and
residential construction activity. Although aggregate retail and remote seller
sales have outperformed the prior year, they are currently tracking below the
original forecasts. Restaurant/bar and utility revenues are better than originally
anticipated. Bed tax is expected to slightly exceed the original forecast due to
payment of back taxes from the prior year.
Please refer to Appendix 4 for a detailed breakdown of General Fund local sales
tax collections.
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
State shared income tax revenues are expected to align with the budget, as they
are calculated based on actual tax collections from the previous two years. State
shared sales tax and vehicle license tax revenues are trending slightly above
budget. Revenues from the state retail excise tax on recreational marijuana
("Smart and Safe" revenues) are currently tracking below budget projections
based on actual collections.
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
Year End
Estimate
$5.1
$3.6
$1.3
$0.1
$0
$2
$4
$6
$8
$10
$12
State Income Tax State Sales Tax Vehicle License
Tax
Smart and SafeMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
$2.2 $2.2
$4.4
$0.9 $1.0 $1.3 $0.6 $0.2$0
$2
$4
$6
$8
$10
Millions FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 2 of 15
General Fund
Financial Status Fiscal Year to Date: December 2024
Licenses & Permits Revenue
Amount Percent
Business Licenses & Permits 117,882$ 131,172$ 200,200$ (69,028)$ 66% 250,000$
Residential Building Permits 599,602 491,291 951,806 (460,515) 52% 983,879
Commercial Building Permits 172,044 182,822 360,856 (178,034) 51% 360,856
Other Building Permits and Fees 80,177 120,243 160,160 (39,917) 75% 199,000
Licenses & Permits Total 969,704$ 925,527$ 1,673,022$ (747,495)$ 55% 1,793,735$
Grants Revenue
Amount Percent
Federal grants 178,600$ 198,951$ 509,415$ (310,464)$ 39% 498,171$
State Grants 77,357 34,846 150,567 (115,721) 23% 69,758
Grants Total 255,957$ 233,797$ 659,982$ (426,185)$ 35% 567,929$
Licenses & permit revenues are trending greater than budget.
A total of 60 Single Family Residential (SFR) permits have been issued through
December (95 budgeted for the year). Other building permit and fee revenues
are exceeding expectations, primarily due to higher-than-anticipated grading
permit fees.
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
Grant revenues are trending lower than expected as some grants are not
expected to fully utilize in the current year.
A significant portion of the budgeted grants are allocated to the Police
Department. These grants can fluctuate based on factors such as officer
scheduling, overtime, and the timing of reimbursements and awards from grant
programs.
About $75,000 of budgeted state grants is related to school resource officer
reimbursements for Leman Academy.
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
FY 2023/24
Actuals
$0.1
$0.5
$0.2 $0.1
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
Business
Licenses &
Permits
Residential
Building Permits
Commercial
Building Permits
Other Building
Permits and
FeesMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
$0.2
$0.0
$0.0
$0.2
$0.4
$0.6
Federal grants State GrantsMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 3 of 15
General Fund
Financial Status Fiscal Year to Date: December 2024
Intergovernmental Revenue
Amount Percent
School Resource Officers 79,585$ 77,436$ 90,000$ (12,564)$ 86% 249,751$
RTA Reimbursements 630,550 323,166 1,886,000 (1,562,834) 17% 1,886,000
PC Library District Reimburse - - 5,555 (5,555) - 5,555
Intergovernmental Total 710,135$ 400,602$ 1,981,555$ (1,580,953)$ 20% 2,141,306$
Charges for Service Revenue
Amount Percent
Enterprise Funds Cost Allocation 915,732$ 850,880$ 1,701,759$ (850,880)$ 50% 1,701,759$
Recreation Fees 408,559 448,118 856,640 (408,522) 52% 982,540
Development Fees 49,168 41,403 92,100 (50,697) 45% 88,080
Court Fees 61,300 70,145 155,000 (84,855) 45% 140,000
Other 75,392 73,053 160,968 (87,915) 45% 168,990
Charges for Service Total 1,510,151$ 1,483,599$ 2,966,467$ (1,482,868)$ 50% 3,081,369$
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
Collections for this revenue category typically lag throughout the year.
RTA reimbursements from the Regional Transportation Authority for Sun Shuttle
Dial-a-Ride operations in Oro Valley will vary based on ridership. RTA
reimbursements recorded through December are for only two months as RTA is
behind in paying invoices.
A new agreement effective January 2025 between the Town and Amphitheater
School District to provide three additional School Resource Officers (SROs) will
generate revenue exceeding budget projections. These payments are based on
actual hours worked at the schools, and as such, they are limited to the school
year.
Cost allocation charges to the Town’s enterprise funds for services provided, as
well as Parks & Recreation fees, make up the bulk of this revenue category.
The enterprise funds cost allocation is the budget amount simply spread out
equally over 12 months.
Recreation fees are trending greater than budget.
$0.1
$0.3
$0.0
$0.0
$0.5
$1.0
$1.5
$2.0
School Resource
Officers
RTA Reimbursements PC Library District
ReimburseMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
$0.9
$0.4
$0.0 $0.1 $0.1
$0.0
$0.5
$1.0
$1.5
$2.0
Enterprise
Funds Cost
Allocation
Recreation
Fees
Development
Fees
Court Fees OtherMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 4 of 15
General Fund
Financial Status Fiscal Year to Date: December 2024
Other Revenue
Amount Percent
Fines 26,975$ 33,334$ 55,000$ (21,666)$ 61% 68,000$
Interest Earnings 309,850 420,465 400,000 20,465 105% 750,000
Miscellaneous 345,034 535,095 229,000 306,095 234% 717,680
Other Revenue Total 681,859$ 988,895$ 684,000$ 304,895$ 145% 1,535,680$
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
Interest earnings have already exceeded budget through December.
Miscellaneous revenue exceeded budget due to a one-time rebate received
from the Arizona Municipal Risk Retention Pool (AMRRP).
$0.0
$0.4
$0.5
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
Fines Interest Earnings MiscellaneousMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 5 of 15
General Fund
Financial Status Fiscal Year to Date: December 2024
Expenditures by Department
Amount Percent
Clerk 187,455$ 254,270$ 564,954$ 310,684$ 45% 512,940$
Community & Econ. Dev. 1,546,245 1,661,659 4,289,037 2,627,378 39% 4,042,094
Council 123,402 134,003 241,102 107,099 56% 226,102
Finance 382,982 409,082 867,767 458,685 47% 866,093
Non-Departmental 1,093,983 1,478,720 3,048,603 1,569,883 49% 3,048,603
Human Resources 279,994 310,802 764,005 453,203 41% 715,497
Information Technology 3,457,668 3,293,047 6,022,838 2,729,791 55% 5,844,489
Legal 487,310 511,721 1,175,969 664,248 44% 1,122,062
Town Manager 674,062 758,902 1,742,926 984,024 44% 1,695,413
Parks & Recreation 2,038,699 2,202,222 4,782,096 2,579,874 46% 4,699,058
Police 9,349,946 9,171,985 20,220,736 11,048,751 45% 19,939,917
Public Works 2,924,382 2,810,744 6,944,467 4,133,723 40% 6,652,735
Town Court 430,428 457,527 1,123,551 666,024 41% 1,039,815
Total Department Expenditures 22,976,556$ 23,454,684$ 51,788,051$ 28,333,367$ 45% 50,404,817$
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
$0.3 $1.7 $0.1 $0.4 $1.5 $0.3
$3.3
$0.5 $0.8 $2.2
$9.2
$2.8
$0.5 $0.0
$5.0
$10.0
$15.0
$20.0
$25.0
Millions FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Non‐Departmental:Actual expenditures through December exceed the prior year's levels primarily because of two factors: 1) A shift in accounting practices for
General Fund insurance premiums, which are now fully recorded in Non‐Departmental rather than allocated across departments.
2) Increased vehicle replacement reserves due to growth in the fleet and rising vehicle prices.
Departments are currently operating within budget, and personnel cost savings are projected due to vacancies, turnover, and variations in employee benefit
selections. Please note that Council and IT typically have significant upfront costs at the beginning of the year.
Page 6 of 15
Highway Fund
Financial Status Fiscal Year to Date: December 2024
Sources `
Amount Percent
Licenses & Permits 10,710$ 21,232$ 25,000$ (3,769)$ 85% 37,000$
Highway User Revenue 2,051,193 2,056,452 4,283,146 (2,226,694) 48% 4,288,907
Interest Earnings 101,199 49,732 150,000 (100,268) 33% 100,000
Miscellaneous 12,568 2,835 3,000 (165) 95% 3,231
Transfers In - 2,000,000 4,000,000 (2,000,000) 50% 4,000,000
Total Sources 2,175,670$ 4,130,250$ 8,461,146$ (4,330,896)$ 49% 8,429,138$
Expenditures
Amount Percent
Personnel 579,523$ 604,295$ 1,333,798$ 729,503$ 45% 1,322,820$
O&M 419,324 500,478 1,306,505 806,027 38% 1,256,505
Capital Outlays 2,624,343 1,994,848 5,456,000 3,461,152 37% 5,451,000
Total Expenditures 3,623,190$ 3,099,621$ 8,096,303$ 4,996,682$ 38% 8,030,325$
Change in Fund Balance
Total Sources 2,175,670$ 4,130,250$ 8,461,146$ 8,429,138$
Total Expenditures (3,623,190) (3,099,621) (8,096,303) (8,030,325)
Change in Fund Balance (1,447,520)$ 1,030,629$ 364,843$ 398,813$
Estimated Beginning Fund Balance 606,047$
Estimated Ending Fund Balance 1,004,860$
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
Year End
Estimate
Year End
Estimate
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Year End
Estimate
Revenues:
Highway User Revenue is trending slightly greater than budget.
License and permits are projected to exceed budget due to right-of-way (road) permits.
As interest earnings are trending below budget, the year-end estimate has been adjusted accordingly. HURF monies are invested independently and are not
commingled with any other Town funds. Therefore, interest earnings are lower than other funds due to a smaller principal balance.
Miscellaneous revenue is projected to exceed budget due to insurance recoveries.
The planned transfers in of $4 million are from the Capital Fund for road projects. These are recorded evenly over four quarters.
Expenditures:
Personnel savings are anticipated due to benefit and overtime trends. Operational and maintenance (O&M) savings are projected in street and traffic signal
maintenance. Budgeted capital outlays consist of the Town's annual pavement preservation program as well as several capital improvement projects and
equipment. Pavement preservation road work began in October and is still underway. $5,000 savings in capital due to the F450 dump bed coming in under
budget.
Page 7 of 15
Community Center Fund
Financial Status Fiscal Year to Date: December 2024
Revenues
Amount Percent
Local Sales Tax 1,785,176$ 1,807,862$ 3,879,440$ (2,071,578)$ 47% 3,859,524$
Contracted Operating Revenues 2,461,549 2,603,487 5,240,575 (2,637,088) 50% 5,647,950
Town Operating Revenues 594,181 652,793 1,386,052 (733,259) 47% 1,628,464
Other Revenues 26,358 5,324 179,332 (174,008) 3% 167,982
Total Revenues 4,867,264$ 5,069,466$ 10,685,399$ (5,615,933)$ 47% 11,303,920$
Uses
Amount Percent
Contracted Operating Expenditures 2,796,347$ 2,886,865$ 5,343,893$ 2,457,028$ 54% 5,605,517$
Town Operating Expenditures 833,663 1,044,279 2,204,790 1,160,511 47% 2,286,106
Capital Outlay 735,636 621,249 1,534,749 913,500 40% 1,534,749
Transfers Out 1,717,203 1,717,149 1,717,149 - 100% 1,717,149
Total Uses 6,082,848$ 6,269,542$ 10,800,581$ 4,531,039$ 58% 11,143,521$
Change in Fund Balance
Total Revenues 4,867,264$ 5,069,466$ 10,685,399$ 11,303,920$
Total Uses (6,082,848) (6,269,542) (10,800,581) (11,143,521)
Change in Fund Balance (1,215,585)$ (1,200,077)$ (115,182)$ 160,399$
Estimated Beginning Fund Balance 1,815,118$
Estimated Ending Fund Balance 1,975,516$
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2023/24
Actuals
FY 2024/25
Actuals
Year End
Estimate
FY 2024/25
Budget
Actual Vs. Budget
FY 2024/25
Budget
Year End
Estimate
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
Page 8 of 15
Community Center Fund
Financial Status Fiscal Year to Date: December 2024
Local Sales Tax Revenue
Amount Percent
Retail 1,088,539$ 1,107,802$ 2,361,920$ (1,254,118)$ 47% 2,309,535$
Remote Seller 236,315 221,409 478,681 (257,272)$ 46% 477,029
Restaurant & Bar 313,449 320,867 681,568 (360,701) 47% 709,835
Other 146,873 157,784 357,271 (199,487) 44% 363,124
Local Sales Tax Total 1,785,176$ 1,807,862$ 3,879,440$ (2,071,578)$ 47% 3,859,524$
Contracted Operating Revenue
Amount Percent
Golf Revenue, Trail & Cart Fees 1,186,472$ 1,198,378$ 2,572,302$ (1,373,924)$ 47% 2,905,200$
Member Dues 732,018 838,131 1,501,560 (663,429) 56%1,566,500
Food & Beverage 354,097 377,499 771,858 (394,359) 49%782,750
Merchandise & Other 188,962 189,478 394,855 (205,377) 48% 393,500
Contracted Revenue Total 2,461,549$ 2,603,487$ 5,240,575$ (2,637,088)$ 50% 5,647,950$
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2023/24
Actuals
FY 2024/25
Actuals
Total local sales tax revenues are performing lower than expected primarily due
to retail and remote seller sales tax. Although aggregate retail and remote seller
sales have outperformed the prior year, they are currently trending slightly below
initial projections. Restaurant/bar revenues are performing slightly better than
originally anticipated. While other sales tax revenue appears to be falling short of
projections through December, we anticipate increased revenue from hotel taxes
during the peak travel season.
Golf revenues are projected to exceed budget.
Through December, 47,390 rounds of golf had been played which is up 8.4%
from the prior year and 9.8% greater than budget.
Please refer to Appendix 3 for or a more in-depth analysis of golf revenues,
expenses, and historical comparisons
Actual Vs. Budget Year End
Estimate
Year End
Estimate
Note: Estimated sales tax collections on golf operations for
FY 2024/25 is $145,079.
FY 2024/25
Budget
FY 2024/25
Budget
Actual Vs. Budget
$1.2
$0.8
$0.4 $0.2
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
Golf Revenue,
Trail & Cart Fees
Member Dues Food &
Beverage
Merchandise &
OtherMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
$1.1
$0.2 $0.3
$0.2
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
Retail Remote Seller Restaurant &
Bar
OtherMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 9 of 15
Community Center Fund
Financial Status Fiscal Year to Date: December 2024
Town Operating Revenue
Amount Percent
Daily Drop-Ins 38,443$ 34,369$ 76,000$ (41,631)$ 45% 74,142$
Member Dues 431,457 496,971 832,038 (335,067) 60% 1,086,032
Recreation Programs 76,509 73,531 388,850 (315,319) 19% 379,127
Facility Rental Income 47,772 47,922 89,164 (41,242) 54% 89,164
Town Operating Revenue Total 594,181$ 652,793$ 1,386,052$ (733,259)$ 47% 1,628,464$
Other Revenue
Amount Percent
Interest Income 21,277$ 2,961$ 16,682$ (13,721)$ 18% 3,000
HOA Contributions - - 159,050 (159,050) - 159,050
Miscellaneous 5,081 2,363 3,600 (1,237) 66% 3,738
Other Revenue Total 26,358$ 5,324$ 179,332$ (174,008)$ 3% 165,788$
Town operating revenues are performing better than expected.
Member dues have increased by approximately 15% compared to the prior year,
and total memberships have risen by about 14%. We estimate a 21% budget
surplus based on these figures.
Recreation program revenues are conservatively projected to fall short of budget
targets based on trends through December. However, the majority of these
revenues are generated in April, making accurate forecasting challenging at this
time.
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
Year End
Estimate
Interest income is lower than the prior year due to a temporary negative cash
balance resulting from debt service transfers. HOA contributions are typically
posted in February. This is the final year of agreed upon annual contributions to
golf from HOAs.
FY 2024/25
Budget
Actual Vs. Budget
$0.0
$0.5
$0.1 $0.0
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
Daily Drop-Ins Member Dues Recreation
Programs
Facility Rental
IncomeMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
$0.0 $0.0 $0.0
$0.0
$0.1
$0.2
Interest Income HOA Contributions MiscellaneousMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 10 of 15
Community Center Fund
Financial Status Fiscal Year to Date: December 2024
Contracted Operating Expenditures
Amount Percent
Personnel 898,404$ 950,281$ 1,839,522$ 889,241$ 52% 1,922,000$
Food & Beverage 331,069 355,344 701,378 346,034 51% 723,352
Operations & Maintenance 1,485,533 1,499,900 2,640,332 1,140,432 57% 2,787,460
Equipment Leases 81,341 81,341 162,661 81,320 50% 172,705
Contracted Expenditures Total 2,796,347$ 2,886,865$ 5,343,893$ 2,457,028$ 54% 5,605,517$
Contracted operating expenditures are currently exceeding projections, primarily
due to increased utility costs (water) and higher labor costs for general operations
and maintenance.
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Year End
Estimate
Actual Vs. Budget
$1.0
$0.4
$1.5
$0.1
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
Personnel Food & Beverage Operations &
Maintenance
Equipment
LeasesMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 11 of 15
Community Center Fund
Financial Status Fiscal Year to Date: December 2024
Town Operating Expenditures
Amount Percent
Personnel 541,221$ 611,479$ 1,222,583$ 611,104 50% 1,372,465$
Operations & Maintenance 292,442 432,799 982,207 549,408 44% 913,641
Town Operating Expenditures Total 833,663$ 1,044,279$ 2,204,790$ 1,160,511$ 47% 2,286,106$
FY25 Revised
Budget
Community Center Flat Roof Surface Replacement 104,344
CRC Golf Maintenance Sewer Connection 75,000
CRC Restaurant Cooler/Freezer Modernization & Floor Repair 35,405
Golf Conquistador Lake Dredging 80,000
Golf John Deere Tractor Replacement 125,000
Pusch Ridge Golf Bridge Replacement 400,000
Pusch Ridge Tennis Bleachers and ADA Accessibility 200,000
Reelmaster Mower Replacement 105,000
Vistoso Trails Nature Preserve Site Improvements 200,000
VTNP Maintenance Facility Roof Repair and Security 210,000
1,534,749
List of FY25 Capital Projects:
Year End
Estimate
Town operating personnel expenditures are trending higher than expected.
Savings are anticipated in contracted personnel and building repair and
maintenance.
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
$0.6
$0.4
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
Personnel Operations & MaintenanceMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 12 of 15
Capital Fund
Financial Status Fiscal Year to Date: December 2024
Sources `
Amount Percent
Federal Grants -$ 1,000,000$ 1,000,000$ -$ 100%
RTA Reimbursements 44,000 - - - na
Vehicle Reserves 446,270 466,745 933,490 (466,745) 50%
Interest Earnings 387,572 308,034 348,382 (40,348) 88%
Miscellaneous 47,467 3,722 115,000 (111,278) 3%
Transfers In from General Fund 5,000,000 3,569,894 7,139,787 (3,569,894) 50%
Total Sources 5,925,310$ 5,348,395$ 9,536,659$ (4,188,264)$ 56%
Uses
Amount Percent
Personnel 129,366$ -$ -$ -$ na
O&M 2,278 61,403 37,000 (24,403) 166%
Capital Outlays 8,601,061 2,465,827 8,316,569 5,850,742 30%
Transfers Out - 2,000,000 6,174,530 4,174,530 32%
Total Uses 8,732,704$ 4,527,229$ 14,528,099$ 10,000,870$ 31%
Change in Fund Balance
Total Sources 5,925,310$ 5,348,395$ 9,536,659$
Total Uses (8,732,704) (4,527,229) (14,528,099)
Change in Fund Balance (2,807,394)$ 821,166$ (4,991,440)$
Estimated Beginning Fund Balance 16,677,730$
Estimated Ending Fund Balance 11,686,290$
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
Sources:
State grants: Arizona State Parks granted $1 million for Naranja Park's pump track and skatepark expected to be received this year.
Transfers in from the General Fund are to fund CIP projects are made based on the budget and occur quarterly.
A yearly reserve is set aside for vehicle replacement, calculated based on the purchase price and estimated lifespan of Town-owned vehicles.
This reserve is spread out over 12 months and charged to the general fund each month.
Uses:
O&M costs are from the purchase of smaller, non-capitalized equipment used in the Steam Pump Ranch - Solar Lighting CIP project. The budget
includes $4 million in transfers to the Highway Fund for capital improvement projects, which are recorded evenly over four quarters. Additionally,
$2.2 million is allocated to the Grants Fund. Of this, $2 million is earmarked for the Vistoso Trails Nature Preserve and $174,530 is for a 20%
match for transit vehicles funded by 80% grants. These grant transfers are recorded at the end of the year and may adjust based on the actual
grant awards.
Page 13 of 15
Water Utility Fund
Financial Status Fiscal Year to Date: December 2024
Sources `
Amount Percent
Water Sales 9,117,748$ 9,675,426$ 18,000,000$ (8,324,574)$ 54% 17,781,054$
Charges For Services 1,771,989 1,753,853 3,424,000 (1,670,147) 51% 3,400,000
Interest Earnings 150,380 149,119 100,000 49,119 149% 300,000
Miscellaneous 13,214 29,585 - 29,585 - 48,000
Other Financing Sources - - 8,000,000 (8,000,000) - 8,000,000
Total Sources 11,053,331$ 11,607,984$ 29,524,000$ (17,916,016)$ 39% 29,529,054$
Uses
Amount Percent
Personnel 1,679,815$ 1,638,284$ 3,992,428$ 2,354,144$ 41% 3,739,348$
O&M 4,571,857 4,951,555 11,198,284 6,246,729 44% 11,160,487
Capital Outlays 607,080 698,456 1,785,330 1,086,874 39% 1,901,058
Debt Service 3,300,830 3,116,988 3,391,568 274,580 92% 3,391,568
Transfers Out 2,308 2,333 6,862,333 6,860,000 0% 8,002,333
Total Uses 10,161,891$ 10,407,616$ 27,229,943$ 16,822,327$ 38% 28,194,794$
Note: Excludes non-cash outlays for depreciation & amortization
Change in Fund Balance
Total Sources 11,053,331$ 11,607,984$ 29,524,000$ 29,529,054$
Total Uses (10,161,891) (10,407,616) (27,229,943) (28,194,794)
Change in Fund Balance 891,441$ 1,200,368$ 2,294,057$ 1,334,260$
Estimated Beginning Fund Balance 9,354,336$
Estimated Ending Fund Balance 10,688,596$
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Year End
Estimate
Year End
Estimate
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
Sources:
Water sales are projected to be about 1.2% below budget due to current water consumption trends. Charges for service are projected to be 0.7% under budget,
primarily due to lower than anticipated revenue from the groundwater preservation fee, which is tied to water consumption. Interest earnings are expected to
exceed budget by $200,000. The budget for other financing sources consists of proceeds from an anticipated $8 million loan.
Uses:
Personnel is trending under budget due to various vacancies in Water Operations.
Operational and maintenance (O&M) savings are projected in outside professional services and equipment repair.
Capital outlay is projected to exceed budget due to a higher-than-anticipated number of meter replacements.
Debt Service: The full annual principal payment for debt service is recorded at the start of the year. Interest payments are made twice yearly, in January and June.
For a complete breakdown of outstanding debt issuances, please refer to Appendix 6.
Transfers out are primarily to the Water Resource Impact Fee fund to fund the NWRRDS capital projects and represents 40% of groundwater preservation fees.
This transfer is recorded at the end of the fiscal year and may vary based on revenue collections. There is also a small transfer of $2,333 to the Debt Service Fund
for debt service.
Page 14 of 15
Stormwater Utility Fund
Financial Status Fiscal Year to Date: December 2024
Revenues `
Amount Percent
Charges For Services 758,109$ 764,014$ 1,518,500$ (754,486)$ 50% 1,527,949$
Grants - - 210,000 (210,000) - 210,000
Interest Earnings 12,248 21,476 19,000 2,476 113% 40,000
Total Revenues 770,357$ 785,489$ 1,747,500$ (962,011)$ 45% 1,777,949$
Expenses
Amount Percent
Personnel 432,734$ 445,681$ 1,018,770$ 573,089$ 44% 965,603$
O&M 131,443 150,039 425,834 275,795 35% 384,543
Capital Outlays 50,700 - 735,000 735,000 - 735,000
Total Expenses 614,876$ 595,721$ 2,179,604$ 1,583,883$ 27% 2,085,146$
Note: Excludes non-cash outlays for depreciation
Change in Fund Balance
Total Revenues 770,357$ 785,489$ 1,747,500$ 1,777,949$
Total Expenses (614,876) (595,721) (2,179,604) (2,085,146)
Change in Fund Balance 155,481$ 189,769$ (432,104)$ (307,197)$
Estimated Beginning Fund Balance 1,062,883$
Estimated Ending Fund Balance 755,687$
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Year End
Estimate
Year End
Estimate
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
Revenues:
Stormwater utility fee revenue is projected to exceed budget slightly by about $9,000. Interest earnings are expected to exceed budget by $21,000. Grants budget
consists of a FEMA grant for the Sierra Wash at Via Mandarina capital project.
Expenses:
Personnel savings are projected due to a current vacancy and the recent turnover in the division manager position. Operational and maintenance (O&M) savings
are projected across various operating costs, including vehicle and equipment repair and maintenance, field supplies, and gasoline. Budgeted capital expenditures
consist of general culvert cleaning and infrastructure maintenance ($70,000) as well as two CIP projects: Sierra Wash at Via Mandarina Drainage Improvements
($365,000) and Oro Valley Country Club Drainage and Pavement Improvement ($300,000).
Page 15 of 15
APPENDIX 1
Budget Last Year Budget Last Year
Actual Budget Variance Last Year Variance Actual Budget Variance Last Year Variance
Rounds
4,317 3,425 892 4,203 114 Rounds ‐ Member 21,410 20,230 1,180 20,901 509
648 525 123 483 165 Rounds ‐ Outing 3,804 3,475 329 3,432 372
5,882 4,900 982 5,741 141 Rounds ‐ Public 22,176 19,450 2,726 19,373 2,803
================================================================================ ===============================================================================
10,847 8,850 1,997 10,427 420 Total Rounds 47,390 43,155 4,235 43,706 3,684
Revenue
267,278 192,350 74,928 223,686 43,592 Green Fees 990,623 806,850 183,773 794,756 195,867
36,780 32,300 4,480 35,322 1,458 Cart Fees 184,673 161,150 23,523 164,440 20,233
4,054 3,900 154 3,755 299 Driving Range 23,082 19,650 3,432 17,929 5,152
0 0 0 0 0 Golf Cards/Passes 0 0 0 0 0
35,843 36,910 (1,067)37,118 (1,274)Pro Shop Sales 136,279 121,020 15,259 120,252 16,028
41,992 28,875 13,117 30,754 11,238 Food (Food & Soft Drinks) 191,721 171,900 19,821 175,459 16,262
39,413 29,250 10,163 32,710 6,703 Beverages (Alcohol) 172,825 168,850 3,975 168,557 4,268
4,454 1,000 3,454 1,877 2,577 Other Food & Beverage Revenue 12,952 7,000 5,952 10,081 2,872
9,480 4,525 4,955 5,912 3,568 Other Golf Revenues (Club Rent, Handic 38,267 19,125 19,142 33,138 5,129
1,840 1,500 340 1,810 30 Clinic / School Revenue 11,515 13,500 (1,985)13,658 (2,143)
157,947 126,500 31,447 146,732 11,215 Dues Income ‐ Monthly Dues 838,131 728,500 109,631 727,589 110,542
0 4,000 (4,000)0 0 Initiation Fee Income / Annual Member 0 7,000 (7,000)4,429 (4,429)
9,999 2,000 7,999 18,548 (8,549)Miscellaneous Income and Discounts 3,418 11,500 (8,082)21,915 (18,497)
============== ================================================================ ==========================================================================
609,081 463,110 145,971 538,223 70,858 Total Revenue 2,603,487 2,236,045 367,442 2,252,203 351,284
Cost of Sales
27,115 26,311 (804)32,611 5,496 COGS ‐ Pro Shop 97,706 85,874 (11,832)89,680 (8,025)
12,491 8,475 (4,016)12,703 212 COGS ‐ Food 58,261 51,536 (6,725)62,867 4,605
2,162 1,608 (555)2,889 727 COGS ‐ Non‐Alcoholic Beverages 12,340 8,550 (3,790)9,740 (2,600)
10,549 8,775 (1,774)9,715 (833)COGS ‐ Alcohol 48,912 50,654 1,743 47,258 (1,653)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
52,317 45,169 (7,148)57,918 5,602 Total Cost of Sales 217,219 196,615 (20,604)209,545 (7,673)
============== ================================================================ ==========================================================================
556,764 417,942 138,823 480,305 76,459 GROSS INCOME 2,386,268 2,039,430 346,838 2,042,658 343,611
Labor
42,979 36,182 (6,797)36,124 (6,855)Golf Operation Labor 225,498 202,792 (22,706)207,484 (18,014)
16,678 16,087 (591)15,335 (1,344)General and Administrative 79,098 76,522 (2,576)68,827 (10,272)
78,650 68,461 (10,189)80,789 2,139 Maintenance and Landscaping 458,084 419,606 (38,478)443,518 (14,566)
33,700 25,006 (8,694)23,674 (10,026)F&B 178,441 149,534 (28,907)165,316 (13,125)
8,425 10,286 1,861 9,979 1,553 Sales and Marketing 46,862 45,216 (1,646)45,720 (1,142)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
180,433 156,022 (24,411)165,900 (14,533)Total Direct Labor 987,983 893,670 (94,313)930,864 (57,119)
15,813 12,311 (3,502)14,240 (1,573)Total Payroll Taxes 77,873 72,898 (4,975)74,548 (3,325)
11,672 13,666 1,994 15,506 3,834 Total Medical/Health Benefits 66,426 65,996 (430)65,575 (850)
3,077 1,916 (1,161)2,306 (771)Total Workmans Comp 17,269 11,496 (5,773)13,472 (3,798)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
30,562 27,893 (2,669)32,052 1,490 Total Payroll Burden 161,568 150,390 (11,178)153,595 (7,973)
============== ================================================================ ==========================================================================
210,995 183,915 (27,080)197,953 (13,043)Total Labor 1,149,551 1,044,060 (105,491)1,084,459 (65,092)
Other Operational Expenses
7,221 5,360 (1,861)4,591 (2,629)Golf Ops 47,060 36,810 (10,250)33,792 (13,268)
19,761 15,935 (3,826)15,115 (4,647)G&A 86,796 72,750 (14,046)57,702 (29,094)
25,014 26,625 1,611 33,342 8,328 Maintenance 375,231 421,885 46,654 396,445 21,214
4,153 2,920 (1,233)4,066 (87)F&B 36,561 31,345 (5,216)25,149 (11,412)
4,319 3,200 (1,119)3,432 (888)Sales and Marketing 15,488 18,309 2,821 26,792 11,304
13,259 13,259 0 13,259 0 Golf Cart Leases 79,553 79,554 1 79,553 0
298 296 (2)298 0 Equipment Leases 1,789 1,777 (12)1,789 0
60,018 35,455 (24,563)74,466 14,448 Utilities ‐ Maintenance 679,110 614,230 (64,880)688,397 9,287
16,346 16,350 4 19,582 3,236 Utilities ‐ G&A 97,418 104,600 7,182 109,372 11,953
10,824 10,930 106 10,612 (212)Management Fees 64,946 65,580 634 63,672 (1,273)
5,877 5,600 (277)2,748 (3,129)Insurance ‐ P&C 36,145 33,600 (2,545)19,681 (16,463)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
167,090 135,930 (31,160)181,510 14,420 Total Other Operational Expenses 1,520,096 1,480,440 (39,656)1,502,343 (17,753)
============== ================================================================ ==========================================================================
378,085 319,845 (58,240)379,462 1,377 Total Expenses 2,669,647 2,524,499 (145,148)2,586,802 (82,845)
============== ================================================================ ==========================================================================
178,679 98,096 80,583 100,843 77,836 EBITDAR (283,378) (485,069)201,691 (544,144)260,766
============== ================================================================ ==========================================================================
178,679 98,096 80,583 100,843 77,836 EBITDA (283,378) (485,069)201,691 (544,144)260,766
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
000(30,164) (30,164)Total Interest Expense 0 0 0 (209,346) (209,346)
============== ================================================================ ==========================================================================
178,679 98,096 80,583 131,007 47,672 Net Income (283,378) (485,069)201,691 (334,798)51,420
El Conquistador Golf Club
For the Month Ending December 31st, 2024
December YTD
APPENDIX 2Operating:Through DecBudgetCumulativeFY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY2024 FY2025 FY 2025 ActualsRevenue36 Hole 500,158 1,883,452 1,798,304 2,171,484 2,367,136 2,593,395 3,522,083 3,674,489 3,856,880 4,724,718 2,052,630 4,015,000 29,144,729 Pusch Ridge‐ 105,370 99,134 59,726 106,184 98,316 ‐ 380,375 414,225 528,346 173,358 479,025 1,965,034 F&B ‐ Overlook‐ 606,171 708,594 745,766 671,582 554,336 448,782 671,479 725,222 766,679 377,499 746,550 6,276,110 Total Revenue500,158 2,594,993 2,606,032 2,976,976 3,144,902 3,246,047 3,970,865 4,726,343 4,996,327 6,019,743 2,603,487 5,240,575 37,385,873 Expenses36 Hole 1,112,252 3,588,714 3,936,889 3,817,932 3,771,706 3,891,341 3,915,216 3,740,982 3,929,757 4,263,007 2,265,703 4,183,688 38,233,498 Pusch Ridge‐ 253,513 256,769 236,160 230,196 287,112 ‐ 319,702 390,959 478,320 265,819 458,827 2,718,550 F&B ‐ Overlook‐ 861,740 823,383 841,866 785,499 701,538 440,382 630,509 596,910 684,037 355,344 701,378 6,721,207 Total Expenses1,112,252 4,703,967 5,017,041 4,895,958 4,787,401 4,879,991 4,355,598 4,691,193 4,917,626 5,425,364 2,886,865 5,343,893 47,673,256 Profit/(Loss)36 Hole (612,094) (1,705,262) (2,138,585) (1,646,448) (1,404,570) (1,297,946) (393,133) (66,493) (72,877) 461,711 (213,073) (168,688) (9,088,770) Pusch Ridge‐ (148,143) (157,635) (176,434) (124,012) (188,796) ‐ 60,673 23,266 50,026 (92,461) 20,198 (753,516) F&B ‐ Overlook‐ (255,569) (114,789) (96,100) (113,917) (147,202) 8,400 40,970 128,312 82,642 22,155 45,172 (445,098) Total Operating Profit/(Loss)(612,094) (2,108,974) (2,411,009) (1,918,982) (1,642,499) (1,633,944) (384,733) 35,150 78,701 594,379 (283,378) (103,318) (10,287,383) Capital Investments45,116 47,909 29,464 ‐ ‐ 131,035 2,828,061 4,619,904 2,184,848 502,472 835,000 10,388,809 Initial purchase (1)300,000 350,000 350,000 1,000,000 Notes: (1) $1,000,000 original purchase of courses and community center1/2 cent sales tax 506,710 2,030,750 2,199,466 2,330,941 2,463,034 2,584,916 2,947,420 3,535,507 3,707,578 3,792,744 1,807,862 3,726,016 27,906,928 HOA contributions‐ ‐ ‐ ‐ ‐ ‐ 125,000 159,050 159,050 159,050 ‐ 159,050 602,150 POST AGREEMENTPRE AGREEMENTTown of Oro ValleyGolf AnalysisAPPENDIX 2Page 1 OF 2
APPENDIX 2Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May JunFY 2023Gross Income 218,180 210,232 258,241 252,747 499,632 394,901 472,032 541,889 636,010 523,324 315,175 231,708 Expenses 306,974 296,210 432,727 576,529 322,700 297,856 310,847 307,918 355,497 313,621 429,007 558,232 Net Income/(Loss) (88,794) (85,978) (174,487) (323,782) 176,932 97,044 161,185 233,971 280,512 209,703 (113,832) (326,524) FY 2024Gross Income 213,698 225,040 295,419 332,783 495,412 480,305 525,109 589,339 694,275 586,473 430,577 294,092 Expenses 406,558 333,614 420,523 454,504 412,959 349,298 308,213 291,616 334,623 326,900 398,960 530,376 Net Income/(Loss) (192,860) (108,573) (125,103) (121,721) 82,453 131,007 216,896 297,723 359,652 259,573 31,617 (236,284) FY 2025Gross Income 263,005 299,163 297,857 375,363 594,117 556,764 Expenses 411,466 416,806 442,887 488,946 531,458 378,085 Net Income/(Loss) (148,461) (117,643) (145,030) (113,583) 62,659 178,679 ‐ ‐ ‐ ‐ ‐ ‐ Town of Oro ValleyGolf Analysis ‐ Contractor Financials ‐ 200,000 400,000 600,000 800,000Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May JunComparison of Gross Income by Month ‐Total Golf OperationsFY 2023FY 2024FY 2025 ‐ 200,000 400,000 600,000 800,000Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May JunComparison of Total Expenses by Month ‐Total Golf OperationsFY 2023FY 2024FY 2025 (400,000) (200,000) ‐ 200,000 400,000Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May JunComparison of Net Income/(Loss) by Month ‐Total Golf OperationsFY 2023FY 2024FY 2025APPENDIX 2Page 2 of 2
APPENDIX 3Consolidated Year-to-Date Financial Report through December 2024FY 2024/2025FundFY 24/25Est. Beginning BalanceRevenueOther Fin Sources/Transfers InTotal In Personnel O&M CapitalDebt ServiceOther Fin Uses/ Transfers OutTotal OutFund Balance Through December 2024General Fund 22,081,503 26,964,266 26,964,266 16,272,090 7,094,456 88,139 5,458,073 28,912,757 20,133,012 Highway Fund 606,047 2,130,250 2,000,000 4,130,250 604,295 500,478 1,994,848 3,099,621 1,636,676 Grants and Contributions Fund (185,555) 247,309 247,309 15,517 150,000 87,250 252,767 (191,013) Seizure & Forfeiture - Justice/State 331,063 7,418 7,418 - 338,481 Community Center Fund 1,815,118 5,069,466 5,069,466 611,479 3,319,665 621,249 1,717,149 6,269,542 615,041 Municipal Debt Service Fund 326,002 64,160 3,650,379 3,714,539 9,051 3,395,245 3,404,297 636,244 Water Resource System & Dev. Impact Fee Fund 14,427,924 688,468 688,468 81,000 8,332,597 53,166 8,466,763 6,649,629 Townwide Roadway Dev Impact Fee Fund 2,550,696 381,118 381,118 3,055 3,055 2,928,759 Parks & Recreation Impact Fee Fund 185,297 164,571 164,571 - 349,868 Police Impact Fee Fund 73,057 74,430 74,430 42,718 42,718 104,769 Capital Fund 16,677,730 1,778,502 3,569,894 5,348,395 - 61,403 2,465,827 2,000,000 4,527,229 17,498,896 PAG/RTA Fund 430,485 25,054 25,054 30,642 30,642 424,897 Water Utility 9,354,336 11,607,984 - 11,607,984 1,638,284 4,951,555 698,456 3,116,988 2,333 10,407,616 10,554,704 Stormwater Utility 1,062,883 785,489 785,489 445,681 150,039 - 595,721 1,252,652 Benefit Self Insurance Fund 3,404,005 2,292,042 2,292,042 1,754,436 1,754,436 3,941,611 Recreation In-Lieu Fee Fund 17,976 33,056 33,056 - 51,032 Total 73,158,566 52,313,582 9,220,273 61,533,855 19,587,347 18,102,724 14,291,421 6,565,399 9,220,273 67,767,164 66,925,257 Note: The Grants and Contributions Fund currently shows a negative balance, primarily due to a timing difference in grant disbursements and expected reimbursements. This situation is temporary and is expected to be resolved as anticipated funding is received throughout the remainder of the fiscal year.
APPENDIX 4General Fund Local Sales Tax Collections FY 2024/25JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALConstruction Sales Tax427,032 291,729 371,199 324,860 545,601 253,973 2,214,393 Utility Sales Tax306,838 399,701 417,156 405,901 370,322 335,865 2,235,783 Retail Sales Tax750,336 715,116 684,389 714,418 739,186 827,763 4,431,208 Remote Seller Sales Tax131,633 141,042 139,202 140,153 150,391 183,215 885,636 Bed Tax107,778 180,045 136,688 120,312 177,934 231,333 954,090 Restaurant & Bar Sales Tax217,007 191,436 200,970 229,592 214,851 229,614 1,283,468 All Other Local Sales Tax *95,050 111,599 95,492 97,497 104,248 138,553 642,439 Monthly Total 2,035,673$ 2,030,668$ 2,045,096$ 2,032,733$ 2,302,532$ 2,200,315$ 12,647,017$ Cumulative Total2,035,673$ 4,066,341$ 6,111,437$ 8,144,170$ 10,446,702$ 12,647,017$ Monthly variance(64,697)$ (236,208)$ (51,407)$ (113,889)$ 81,336$ (103,069)$ Cumulative variance(64,697)$ (300,905)$ (352,312)$ (466,200)$ (384,865)$ (487,934)$ FY 2023/24JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALConstruction Sales Tax 566,321 609,737 391,196 422,231 488,917 493,394 486,229 411,515 164,695 578,910 513,988 397,105 5,524,238 Utility Sales Tax 250,515 368,788 435,027 373,297 365,463 336,739 321,251 411,797 336,202 217,994 338,593 260,175 4,015,841 Retail Sales Tax 728,452 730,517 682,418 725,728 645,288 841,754 1,049,364 772,676 735,897 833,289 774,387 762,947 9,282,717 Remote Seller Sales Tax 131,471 138,602 128,741 129,290 237,669 179,485 185,936 146,170 154,687 150,204 147,819 154,547 1,884,621 Bed Tax 144,726 137,921 139,535 141,666 163,605 153,950 115,408 326,484 83,195 279,300 195,470 162,019 2,043,280 Restaurant & Bar Sales Tax 192,259 193,105 215,297 223,296 212,172 217,665 234,122 232,257 227,823 298,144 260,586 229,695 2,736,422 All Other Local Sales Tax *86,626 88,207 104,287 131,114 108,083 80,397 67,352 177,516 70,480 154,827 124,334 98,840 1,292,063 Monthly Total 2,100,370$ 2,266,876$ 2,096,503$ 2,146,622$ 2,221,197$ 2,303,384$ 2,459,664$ 2,478,415$ 1,772,979$ 2,512,668$ 2,355,178$ 2,065,327$ 26,779,181$ Cumulative Total2,100,370$ 4,367,246$ 6,463,748$ 8,610,370$ 10,831,567$ 13,134,951$ 15,594,615$ 18,073,030$ 19,846,008$ 22,358,676$ 24,713,854$ 26,779,181$ *Does not include cable franchise fees or sales tax audit revenues
APPENDIX 5General Fund State Shared RevenuesFY 2024/25JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALState Shared Income Tax 856,425 856,425 856,425 856,425 856,425 856,425 5,138,550 State Shared Sales Tax 593,796 582,212 575,094 597,416 614,349 622,937 3,585,804 County Auto Lieu 237,795 215,615 204,204 224,993 189,831 182,939 1,255,378 Smart and Safe- -- --138,177 138,177 Monthly Total 1,688,016$ 1,654,252$ 1,635,723$ 1,678,834$ 1,660,605$ 1,800,479$ 10,117,909$ Cumulative Total 1,688,016$ 3,342,268$ 4,977,991$ 6,656,825$ 8,317,430$ 10,117,909$ Monthly variance (151,985)$ (229,616)$ (189,309)$ (190,136)$ (175,547)$ (183,187)$ Cumulative variance (151,985)$ (381,601)$ (570,909)$ (761,046)$ (936,593)$ (1,119,780)$ FY 2023/24JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALState Shared Income Tax 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 12,779,482 State Shared Sales Tax 585,790 598,642 580,255 602,020 587,629 599,429 695,594 581,121 577,773 652,448 617,138 604,061 7,281,900 County Auto Lieu 189,254 220,268 179,819 201,993 183,567 183,086 222,892 194,548 235,310 214,074 219,675 194,493 2,438,980 Smart and Safe- -- --136,194 - -- --148,944 285,138 Monthly Total 1,840,001$ 1,883,868$ 1,825,032$ 1,868,970$ 1,836,152$ 1,983,666$ 1,983,443$ 1,840,626$ 1,878,040$ 1,931,479$ 1,901,769$ 2,012,454$ 22,785,500$ Cumulative Total 1,840,001$ 3,723,869$ 5,548,900$ 7,417,870$ 9,254,023$ 11,237,689$ 13,221,132$ 15,061,758$ 16,939,798$ 18,871,277$ 20,773,046$ 22,785,500$
APPENDIX 6Debt Service ExpenseAdopted Forecast Forecast Forecast Forecast Forecast Forecast Forecast Final Payment 2024/25 2025/26 2026/27 2027/28 2028/29 2030-2034 2035-2039 2040-2043DateMunicipal Debt Service FundExcise Tax Revenue Bonds- - - 2010 CREBS 191,318 186,370 176,066 170,437 - - - - 20282012 Revenue Bonds 226,718 224,631 227,147 224,125 - - - - 20282015a Refunding Excise Tax (1) 306,079 304,379 - - - - - - 20262016 Excise Tax 172,224 172,968 172,635 172,236 172,760 516,654 - - 20322017a Refunding Excise Tax (2) 138,657 138,645 138,626 - - - - - 20272018a Excise Tax Revenue Obligations (3) 171,718 171,515 171,446 171,502 171,429 855,649 - - 20342021 Parks & Rec Excise Tax 1,544,925 1,543,300 1,544,800 1,539,425 1,542,050 7,693,700 7,684,600 4,599,500 20422021 Pension Obligation Bonds 1,268,715 1,271,262 1,266,350 1,264,118 1,264,461 6,313,500 6,298,141 2039Total Municipal Debt Service Fund4,020,354 4,013,070 3,697,070 3,541,843 3,150,700 15,379,503 13,982,741 4,599,500 Community Center FundContracts PayableLeased Fitness Equipment 20,374 7,668 - - - - - - 2026Financed Fitness Equipment 30,126 22,677 7,559 - - - - - 2027Golf Carts 162,661 130,867 76,339 - - - - - 2027Total Community Center Fund213,161 161,212 83,898 - - - - - WRSDIF FundExcise Tax Revenue Bonds2021a Excise Tax Revenue Obligations (4) 55,711 56,550 56,693 56,295 34,889 202955,711 56,550 56,693 56,295 34,889 - - - Water Utility FundExcise Tax Revenue Bonds2015b Refunding Revenue Bonds (1) 149,356 148,500 - - - - - - 20262017b Refunding Revenue Bonds (2) 1,620,250 1,619,650 1,619,032 - - - - - 20272018b Excise Tax Revenue Obligation (3) 509,310 508,532 508,144 508,118 507,710 2,530,976 - - 20342021b Excise Tax Revenue Obligations (4) 740,667 751,828 753,730 748,434 463,845 111,139 - - 2030Water Revenue LoansWIFA Loan, 2014 371,985 376,299 376,178 376,054 375,926 - - - 2029Total Water Utility Fund3,391,568 3,404,809 3,257,084 1,632,606 1,347,481 2,642,115 - - TOTAL DEBT SERVICE - ALL FUNDS7,680,794 7,635,641 7,094,745 5,230,744 4,533,070 18,029,978 13,982,741 4,599,500 (1) Series 2015 for municpal operation facilities debt service is split between General Fund excise tax revenue (67%) and water revenue (33%.)(2) Series 2017 debt service is split between General Fund excise tax revenue (8%) and water revenue (92%.)(3) Series 2018 for water infrastucture and police evidence and substation facility. Debt service is split between General Fund excise tax revenue (25%) and water revenue (75%.)(4) Series 2021 debt service is split between the Water Utility Fund (93%) and the Water Impact fee Fund (7%.)
APPENDIX 7Town of Oro ValleyOperating Investment SummaryFiscal Year 2024/25JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUNLGIPEnding Market Value3,180,476$ 3,442,323$ 3,896,068$ 3,495,246$ 3,479,412$ 7,779,571$ Investment Income16,989$ 15,807$ 13,771$ 14,795$ 16,950$ 23,753$ 1-Month Yield5.42% 5.32% 5.04% 4.84% 4.65% 4.51%PFM Asset ManagementClosing Market Value55,564,717$ 54,718,509$ 53,177,796$ 50,876,284$ 49,493,292$ 48,491,572$ Investment Income242,494$ 212,354$ 138,428$ 115,743$ 214,420$ 122,153$ Annualized Yield to Maturity at Cost4.01% 3.98% 4.11% 4.20% 4.24% 4.29%Wells Fargo SweepEnding Balance3,651,439$ 4,348,204$ 2,832,971$ 3,463,068$ 5,557,936$ 3,919,949$ Investment Income18,152$ 12,122$ 15,630$ 11,743$ 11,590$ 13,504$ 7-Day Simple Yield5.19% 5.17% 4.80% 4.72% 4.52% 4.36%Total Ending Balance62,396,632$ 62,509,037$ 59,906,835$ 57,834,599$ 58,530,640$ 60,191,093$ Total Investment Income277,635$ 240,283$ 167,829$ 142,281$ 242,960$ 159,409$
APPENDIX 8
Town of Oro Valley - Development Impact Fee Fund Projects
Parks and Recreation Facilities
Description Cost Completed?
Skate Park $1,500,000 Yes
Playground and Parking Lot $1,700,000 Yes
Multiuse Fields (lighted) $1,200,000 Yes
Dog Park $150,000 Yes
Developed Park Land $927,694
Park Amenities $2,501,696
Police
Police Substation Debt $1,198,500
Police Vehicles $846,050
Street Facilities
La Cholla Blvd, Tangerine Rd-Lambert Ln - Road Widening $1,700,000 Yes
Shannon Rd, Tangerine Rd-Naranja Dr - New Road $1,000,000
Lambert Ln. .5 mi E of Shannon-Rancho Sonora - Road Widening $1,000,000
Rancho Vistoso & Woodburne - Intersection Improvement $750,000
Oracle Rd & Rams Field Intersection - Intersection Improvement $750,000
Moore Rd La Cholla Blvd - Intersection Improvement $900,000
Moore Rd - Extension E of Rancho Vistoso Blvd - New Road & Intersection $1,026,840 Yes
Moore Rd & La Canada Dr Intersection - Intersection Improvement $1,200,000 Yes
Glover Rd Multi Use Path - Multi-modal facility $150,000 Yes
Glover Rd south half widening - Road Widening $500,000 Yes
Water Facilities
Water Supply
Steam Pump D-Zone Well $1,500,000
Program Management Support Services (P) $1,050,000 Yes
Well Improvement Analysis and Recovery Permits (P) $150,000 Yes
Well Drilling and Testing (P) $300,000 Yes
Construction Permitting, Drilling, Development and Testing (P) $1,500,000 Yes
Well Equipment Design and Site Improvements (P) $1,800,000
Storage
Palisades C-Zone Storage Tank and Pipeline $4,250,000
Pressure Zone G Storage Expansion $8,000,000
Pressure Zone G, H and I Storage Expansion $4,000,000
Forebay Design (P)$99,231
Forebay Reservoir Construction (P) $900,000
Shannon Rd Forebay Reservoir And Booster Station Prop (Ind.) $240,000 Yes
Forebay Reservoir Booster Station Design (Ind.) $90,000 Yes
Shannon Rd Forebay Reservoir and Booster Station Design (Ind.) $180,000 Yes
Booster Station Construction Forebay Res. (Ind.) $300,000 Yes
Shannon Road Forebay Res. Construction (Ind.) $840,000 Yes
Shannon Road Forebay Res. Construction (Ind.) $540,000 Yes
Arizona municipalities can charge development fees to cover the cost of infrastructure improvements needed to support new
development. These fees are one-time payments used to fund projects like building new roads, parks, or water facilities. The amount of
the fee is determined by an Infrastructure Improvements Plan (IIP) and land use assumptions. Importantly, development fees can only
be used for building new infrastructure or paying off debt for growth-related projects. They cannot be used for ongoing maintenance,
repairs, or addressing existing problems. The Town's IIP includes public services for parks and recreation facilities, police facilities,
street facilities, and water facilities.
Below is a list of identified IIP projects use in the latest impact fee study to calculate the development fees. These are projects that
would be eligible to be funded by development fees as outlined in ARS § 9-463.05 (T)(7)(a).
APPENDIX 8
Page 1 of 2
APPENDIX 8
Water Facilities Continued
Description Cost Completed?
Distribution
Moore Road F-Zone Interconnect $750,000
Water Plant 14 Booster Capacity Expansion $250,000
Pipeline Design (Recovery Water & Transmission) (P) $660,692
Pipeline Construction (P) $4,320,000
Pipeline Route Study and Preliminary Design (Ind.) $120,000 Yes
Pipeline Easement Acquisition (Ind.) $450,000 Yes
Pipeline Design (Ind.) $600,000 Yes
Pipeline Construction NWRRDS to La Canada Res. (Ind.) $5,880,000
Interconnect to Tangerine Rd. (Ind.) $270,000
Interconnect to Lambert Lane (Ind.) $510,000 Yes
APPENDIX 8
Page 2 of 2