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AGENDA
ORO VALLEY
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
AUGUST 19, 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 MAY 20, 2025 REGULAR SESSION MEETING MINUTES
2.REVIEW AND APPROVAL OF THE JUNE 17, 2025 REGULAR SESSION MEETING MINUTES
3.PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY24/25 FINANCIAL UPDATE
THROUGH MAY 2025 (PLEASE REFERENCE ATTACHMENTS)
4.UPDATE AND DISCUSSION ON NEW TAX CATEGORIES AND FEE PROPOSALS
COUNCIL LIAISON COMMENTS
ADJOURNMENT
POSTED: 8/15/25 at 5:00 PM by ck
POSTED: 8/15/25 at 5:00 PM by ck
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:08/19/2025
Submitted By:Melissa Flores, Legal
SUBJECT:
REVIEW AND APPROVAL OF THE MAY 20, 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 May 20, 2025 regular session meeeting minutes
Attachments
Draft Minutes 052025
D R A F T
MINUTES
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
MAY 20, 2025
COUNCIL CHAMBERS
11000 N. LA CAÑADA DRIVE
REGULAR SESSION AT OR AFTER 4:00 PM
CALL TO ORDER at 4:03 PM.
ROLL CALL
Present: Joyce Garland, Chair
Eloho Okeze, Commissioner
Michael Mason, Commissioner
Absent:Dan Karlsberg, Vice Chair
Matthew Miller, Commissioner
Staff Present:Joe Winfield, Mayor
Jeff Wilkins, Town Manager
David Gephart, Chief Financial Officer
Wendy Gomez, Deputy Finance Director
Michael Spaeth, Principal Planner
PLEDGE OF ALLEGIANCE led by Chair Garland
CALL TO AUDIENCE - No Speaker Cards were received.
STAFF LIAISON REPORT
Chief Financial Officer, David Gephart, reported on the following:
Staff is still moving forward with the Budget. The targeted date to present the Tentative Budget to
Town Council is June 4th.
At the next Town Council Meeting the following items will be addressed:
Police Association MOU.
Another OV Path Forward Presentation
Zoning Code Amendments and the approval process
Potential Adoption of the Town's Strategic Plan
REGULAR SESSION AGENDA
1.REVIEW AND APPROVAL OF THE APRIL 15, 2025 REGULAR SESSION MEETING MINUTES
Motion by Commissioner Michael Mason, seconded by Commissioner Eloho Okeze to approve the
5/20/25 Minutes, Budget and Finance Commission Regular Session 1
Motion by Commissioner Michael Mason, seconded by Commissioner Eloho Okeze to approve the
April 15, 2025 Regular Session Meeting Minutes.
Vote: 3 - 0 Carried
2.DISCUSSION REGARDING SEVERAL PROPOSED TOWN FEE AND REVENUE INCREASES AND
THE ASSOCIATED COMMUNITY ENGAGEMENT EFFORT
Presentation by Michael Spaeth, Principal Planner. Discussion ensued amongst Staff and
Commissioners.
3.PRESENTATION, REVIEW AND DISCUSSION OF TOWN FY2025/26 TOWN MANAGER'S
RECOMMENDED BUDGET
Presentation by David Gephart, Chief Financial Officer. Discussion ensued amongst Staff and
Commissioners.
4.DISCUSSION AND POSSIBLE RECOMMENDATION ON DRAFT PSPRS PENSION FUNDING
POLICY FOR FISCAL YEAR ENDING JUNE 30, 2026
Presentation by David Gephart, Chief Financial Officer. Discussion ensued amongst Staff and
Commissioners.
Motion by Commissioner Michael Mason, seconded by Commissioner Eloho Okeze to recommend
Town Council approval of the updated PSPRS pension funding policy for the fiscal year ending June 30,
2026, as presented.
Vote: 3 - 0 Carried
5.PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY24/25 FINANCIAL UPDATE
THROUGH MARCH 2025 (PLEASE REFERENCE ATTACHMENTS)
Presentation by Wendy Gomez, Deputy Financial Director. Discussion ensued amongst Staff and
Commissioners.Mayor Winfield leaves at 6:03 PM.
COUNCIL LIAISON COMMENTS - The Mayor had no comments to report prior to his departure.
ADJOURNMENT
Motion by Commissioner Michael Mason, seconded by Commissioner Eloho Okeze to adjourn the
meeting at 6:08 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 20th day of May, 2025. I
further certify that the meeting was duly called and held and that a quorum was present.
Dated this 20th day of May, 2025.
___________________________
Melissa Flores
Legal Secretary
5/20/25 Minutes, Budget and Finance Commission Regular Session 2
5/20/25 Minutes, Budget and Finance Commission Regular Session 3
Budget and Finance Commission 2.
Meeting Date:08/19/2025
Submitted By:Melissa Flores, Legal
SUBJECT:
REVIEW AND APPROVAL OF THE JUNE 17, 2025 REGULAR SESSION MEETING MINUTES
RECOMMENDATION:
N/A
EXECUTIVE SUMMARY:
N/A
BACKGROUND OR DETAILED INFORMATION:
N/A
FISCAL IMPACT:
N/A
SUGGESTED MOTION:
I MOVE to approve the June 17, 2025 regular session meeting minutes
Attachments
Draft Minutes 061725
D R A F T
MINUTES
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
JUNE 17, 2025
COUNCIL CHAMBERS
11000 N. LA CAÑADA DRIVE
REGULAR SESSION AT OR AFTER 4:00 PM
CALL TO ORDER by Dave Gephart, Chief Financial Officer at 4:11 PM
ROLL CALL
Present: Joyce Garland, Chair
Dan Karlsberg, Vice Chair
Absent:Eloho Okeze, Commissioner (EXCUSED)
Michael Mason, Commissioner (EXCUSED)
Matthew Miller, Commissioner
Staff Present: David Gephart, Chief Financial Officer
Jeff Wilkins, Town Manager
Wendy Gomez, Deputy Finance Director
Chris Hutchison, Senior Budget Analyst
Tobin Sidles, Legal Services Director
ADJOURNMENT by David Gephart, Chief Financial Officer at 4:13 PM.
Due to lack of quorum, and that a commissioner had connectivity issues via Zoom, this meeting has been canceled.
The next meeting is announced for August 19, 2025.
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 17 day of June, 2025. I
further certify that the meeting was duly called and held and that a quorum was present.
Dated this 17 day of June, 2025.
___________________________
Melissa Flores
Legal Secretary
Budget and Finance Commission 3.
Meeting Date:08/19/2025
Submitted By:Christopher Hutchison, Finance
SUBJECT:
PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY24/25 FINANCIAL UPDATE THROUGH
MAY 2025 (PLEASE REFERENCE ATTACHMENTS)
RECOMMENDATION:
N/A
EXECUTIVE SUMMARY:
Please reference attachments for this item.
BACKGROUND OR DETAILED INFORMATION:
N/A
FISCAL IMPACT:
N/A
SUGGESTED MOTION:
N/A
Attachments
Consolidated May 2025 Monthly Financial Report
Town Manager’s Office
TOWN COUNCIL REPORT
DATE: July 10, 2025
TO: Mayor and Council
FROM: Jeff Wilkins, Town Manager
David Gephart, Chief Financial Officer
SUBJECT: May 2025 Financial Update
This financial update is intended to provide an overview and status of revenues and expenditures for the
Town’s selected funds through May 2025 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 a ll 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: May 2025
Revenues `
Amount Percent
Local Sales Tax 25,251,685$ 24,503,672$ 28,708,825$ (4,205,153)$ 85% 26,902,686$
State Shared Revenues 20,773,046 18,653,290 20,432,937 (1,779,647) 91% 20,577,079
Licenses & Permits 1,920,524 1,769,189 1,673,022 96,167 106% 1,798,414
Grants 403,248 562,984 659,982 (96,998) 85% 612,454
Intergovernmental 1,712,923 1,896,960 1,981,555 (84,595) 96% 2,146,029
Charges for Service 2,727,165 2,911,480 2,966,467 (54,987) 98% 3,270,782
Other Revenue 1,218,449 1,549,579 684,000 865,579 227% 1,626,372
Total Revenues 54,007,039$ 51,847,156$ 57,106,788$ (5,259,632)$ 91% 56,933,816$
Uses
Amount Percent
Personnel Services 30,080,085$ 30,778,881$ 36,476,126$ 5,697,245$ 84% 35,189,059$
Operations and Maintenance 11,917,511 12,205,323 14,805,325 2,600,002 82% 14,389,403
Capital Outlay 345,038 262,540 506,600 244,060 52% 492,271
Transfers Out 9,774,644 7,243,019 9,403,341 2,160,322 77% 9,153,341
Total Uses 52,117,278$ 50,489,764$ 61,191,392$ 10,701,628$ 83% 59,224,074$
Change in Fund Balance
Total Revenues 54,007,039$ 51,847,156$ 57,106,788$ 56,933,816$ 56,933,816$
Total Uses (52,117,278) (50,489,764) (61,191,392) (59,224,074) (59,224,074)
Change in Fund Balance 1,889,761$ 1,357,392$ (4,084,604)$ (2,290,258)$ (2,290,258)$
Estimated Beginning Fund Balance 22,081,503$
Estimated Ending Fund Balance 19,791,245$ 19,791,245$
Note: The estimated ending fund balance exceeds the Town's 30% expenditure reserve policy by a margin of $4.4 million.
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
FY 2024/25
Budget
Year End
Estimate
Year End
Estimate
Year End
Estimate
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget
FY 2023/24
Actuals
FY 2024/25
Actuals
Page 1 of 15
General Fund
Financial Status Fiscal Year to Date: May 2025
Local Sales Tax Revenue
Amount Percent
Construction 5,127,134$ 3,583,051$ 5,875,681$ (2,292,630)$ 61% 4,055,861$
Utilities 3,755,667 3,691,438 4,097,824 (406,386) 90% 3,989,305
Retail 8,519,770 8,607,761 9,447,680 (839,918) 91% 9,317,281
Remote Seller 1,730,073 1,721,213 1,914,724 (193,511) 90% 1,850,625
Bed Tax 1,881,260 2,345,645 2,464,858 (119,212) 95% 2,571,381
Restaurant & Bar 2,506,727 2,590,289 2,726,271 (135,982) 95% 2,886,945
Other 1,193,223 1,457,629 1,465,987 (8,358) 99% 1,571,641
Cable Franchise 537,831 506,646 715,800 (209,154) 71% 659,647
Local Sales Tax Total 25,251,685$ 24,503,672$ 28,708,825$ (4,205,153)$ 85% 26,902,686$
State Shared Revenue
Amount Percent
State Income Tax 11,714,525$ 9,420,674$ 10,276,631$ (855,957)$ 92% 10,277,100$
State Sales Tax 6,677,840 6,798,788 7,300,876 (502,088) 93% 7,390,889
Vehicle License Tax 2,244,487 2,295,636 2,520,803 (225,167) 91% 2,621,916
Smart and Safe 136,194 138,192 334,627 (196,435) 41% 287,173
State Shared Total 20,773,046$ 18,653,290$ 20,432,937$ (1,779,647)$ 91% 20,577,079$
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. 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
$9.4
$6.8
$2.3
$0.1
$0
$2
$4
$6
$8
$10
$12
$14
State Income Tax State Sales Tax Vehicle License
Tax
Smart and SafeMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
$3.6 $3.7
$8.6
$1.7 $2.3 $2.6
$1.5
$0.5
$0
$2
$4
$6
$8
$10
Millions FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 2 of 15
General Fund
Financial Status Fiscal Year to Date: May 2025
Licenses & Permits Revenue
Amount Percent
Business Licenses & Permits 203,258$ 222,035$ 200,200$ 21,835$ 111% 225,000$
Residential Building Permits 1,176,361 972,222 951,806 20,416 102% 1,053,074
Commercial Building Permits 371,882 374,118 360,856 13,262 104% 318,821
Other Building Permits and Fees 169,023 200,815 160,160 40,655 125% 201,519
Licenses & Permits Total 1,920,524$ 1,769,189$ 1,673,022$ 96,167$ 106% 1,798,414$
Grants Revenue
Amount Percent
Federal grants 251,851$ 484,883$ 509,415$ (24,532)$ 95% 534,353$
State Grants 151,398 78,101 150,567 (72,466) 52% 78,101
Grants Total 403,248$ 562,984$ 659,982$ (96,998)$ 85% 612,454$
Licenses & permit revenues are trending greater than budget.
A total of 106 Single Family Residential (SFR) permits have been issued
through May (95 budgeted for the year). Other building permit and fee revenues
are exceeding expectations, primarily due to grading permit fees. A reduction in
permit revenues is anticipated in June as a result of refunding of some 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 be fully utilized 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
$0.2
$1.0
$0.4
$0.2
$0.0
$0.5
$1.0
$1.5
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
$0.5
$0.1
$0.0
$0.2
$0.4
$0.6
Federal grants State GrantsMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 3 of 15
General Fund
Financial Status Fiscal Year to Date: May 2025
Intergovernmental Revenue
Amount Percent
School Resource Officers 90,000$ 251,029$ 90,000$ 161,029$ 279% 251,029$
RTA Reimbursements 1,621,101 1,639,059 1,886,000 (246,941) 87% 1,886,000
PC Library District Reimburse 1,822 6,872 5,555 1,317 124% 9,000
Intergovernmental Total 1,712,923$ 1,896,960$ 1,981,555$ (84,595)$ 96% 2,146,029$
Charges for Service Revenue
Amount Percent
Enterprise Funds Cost Allocation 1,516,107$ 1,559,946$ 1,701,759$ (141,813)$ 92% 1,701,759$
Recreation Fees 862,846 956,515 856,640 99,875 112% 1,013,030
Development Fees 80,803 98,490 92,100 6,390 107% 104,893
Court Fees 123,027 132,179 155,000 (22,821) 85% 142,624
Other 144,381 164,350 160,968 3,382 102% 308,476
Charges for Service Total 2,727,165$ 2,911,480$ 2,966,467$ (54,987)$ 98% 3,270,782$
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.
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 due to both contracted and in-
house programs.
$0.3
$1.6
$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
$1.6
$1.0
$0.1 $0.1 $0.2
$0.0
$0.5
$1.0
$1.5
$2.0
Enterprise
Funds Cost
Allocation
Recreation
Fees
Development
Fees
Court Fees OtherMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 4 of 15
General Fund
Financial Status Fiscal Year to Date: May 2025
Other Revenue
Amount Percent
Fines 56,792$ 63,453$ 55,000$ 8,453$ 115% 68,000$
Interest Earnings 631,376 781,910 400,000 381,910 195% 800,000
Miscellaneous 530,282 704,216 229,000 475,216 308% 758,372
Other Revenue Total 1,218,449$ 1,549,579$ 684,000$ 865,579$ 227% 1,626,372$
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
Interest earnings have already exceeded budget.
Miscellaneous revenue exceeded budget due to a one-time rebate received
from the Arizona Municipal Risk Retention Pool (AMRRP).
$0.1
$0.8
$0.7
$0.00
$0.20
$0.40
$0.60
$0.80
$1.00
Fines Interest Earnings MiscellaneousMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 5 of 15
General Fund
Financial Status Fiscal Year to Date: May 2025
Expenditures by Department
Amount Percent
Clerk 355,687$ 464,110$ 564,954$ 100,844$ 82% 515,969$
Community & Econ. Dev. 3,114,185 3,194,477 4,289,037 1,094,560 74% 3,908,457
Council 173,177 198,347 241,102 42,755 82% 231,102
Finance 730,823 758,617 867,767 109,150 87% 857,378
Non-Departmental 2,197,035 2,814,694 3,048,603 233,909 92% 3,099,520
Human Resources 561,988 573,132 764,005 190,873 75% 674,467
Information Technology 5,092,612 5,341,290 6,022,838 681,548 89% 6,005,533
Legal 944,903 997,530 1,175,969 178,439 85% 1,143,062
Town Manager 1,402,616 1,452,888 1,742,926 290,038 83% 1,676,703
Parks & Recreation 3,840,768 3,997,747 4,782,096 784,349 84% 4,655,856
Police 17,258,263 17,248,619 20,220,736 2,972,117 85% 19,699,447
Public Works 5,809,748 5,308,173 6,944,467 1,636,294 76% 6,544,611
Town Court 860,830 897,119 1,123,551 226,432 80% 1,058,628
Total Department Expenditures 42,342,634$ 43,246,745$ 51,788,051$ 8,541,307$ 84% 50,070,733$
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Actual Vs. Budget Year End
Estimate
$0.5
$3.2
$0.2 $0.8
$2.8
$0.6
$5.3
$1.0 $1.5
$4.0
$17.2
$5.3
$0.9
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
Millions FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Non‐Departmental:Actual expenditures through March exceed the prior year's levels primarily due to two factors: 1) A shift in accounting practices for General
Fund insurance premiums, which are now fully recorded in Non‐Departmental rather than allocated across departments.
2) Increased vehicle replacement reserves due to growth in the fleet and rising vehicle prices. non‐departmental expenditure expected to exceed budget due to
insurance premiums.
Departments are currently operating within budget, and personnel cost savings are projected due to vacancies, turnover, and variations in employee benefit
selections. Please note that Council and IT typically have significant upfront costs at the beginning of the year.
Page 6 of 15
Highway Fund
Financial Status Fiscal Year to Date: May 2025
Sources `
Amount Percent
Licenses & Permits 22,919$ 34,952$ 25,000$ 9,952$ 140% 37,000$
Highway User Revenue 3,795,051 3,851,016 4,283,146 (432,130) 90% 4,271,585
Interest Earnings 174,919 108,440 150,000 (41,560) 72% 110,000
Miscellaneous 14,532 7,825 3,000 4,825 261% 7,966
Transfers In 1,500,000 3,000,000 4,000,000 (1,000,000) 75% 4,000,000
Total Sources 5,507,421$ 7,002,232$ 8,461,146$ (1,458,914)$ 83% 8,426,551$
Expenditures
Amount Percent
Personnel 1,089,728$ 1,162,229$ 1,333,798$ 171,569$ 87% 1,321,742$
O&M 781,386 941,768 1,306,505 364,737 72% 1,198,020
Capital Outlays 3,615,008 3,985,790 5,456,000 1,470,210 73% 5,038,392
Total Expenditures 5,486,122$ 6,089,787$ 8,096,303$ 2,006,516$ 75% 7,558,154$
Change in Fund Balance
Total Sources 5,507,421$ 7,002,232$ 8,461,146$ 8,426,551$
Total Expenditures (5,486,122) (6,089,787) (8,096,303) (7,558,154)
Change in Fund Balance 21,299$ 912,445$ 364,843$ 868,397$
Estimated Beginning Fund Balance 606,047$
Estimated Ending Fund Balance 1,474,444$
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 currently trending marginally below the budgeted amount, with a projected shortfall of 0.3%.
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 $4 million are from the Capital Fund for road projects. These are recorded evenly over four quarters.
Expenditures:
Personnel savings are anticipated due to benefit and overtime trends. Operational and maintenance (O&M) savings are projected in street and traffic signal
maintenance. Budgeted capital outlays consist of the Town's annual pavement preservation program as well as several capital improvement projects and
equipment. Pavement preservation road work began in October and is still underway and expected to be on budget. Expected capital savings include those from
the under-budget F450 dump bed and the projected under-budget Magee Rd. and La Cañada Drive mill/overlay projects. Council's approval to use funds from
the budgeted Tandem Axle Truck purchase for a less expensive crack seal machine will yield additional savings.
Page 7 of 15
Community Center Fund
Financial Status Fiscal Year to Date: May 2025
Revenues
Amount Percent
Local Sales Tax 3,481,586$ 3,588,473$ 3,879,440$ (290,967)$ 92% 3,900,746$
Contracted Operating Revenues 5,666,895 5,999,567 5,240,575 758,992 114% 6,356,011
Town Operating Revenues 1,373,957 1,495,965 1,386,052 109,913 108% 1,593,309
Other Revenues 184,780 184,838 179,332 5,506 103% 189,497
Total Revenues 10,707,217$ 11,268,844$ 10,685,399$ 583,445$ 105% 12,039,562$
Uses
Amount Percent
Contracted Operating Expenditures 4,836,232$ 5,128,486$ 5,343,893$ 215,407$ 96% 5,704,672$
Town Operating Expenditures 1,525,551 2,018,011 2,204,790 186,779 92% 2,334,783
Capital Outlay 1,258,006 1,070,899 1,534,749 463,850 70% 1,535,455
Transfers Out 1,717,203 1,717,149 1,717,149 - 100% 1,717,149
Total Uses 9,336,992$ 9,934,545$ 10,800,581$ 866,036$ 92% 11,292,059$
Change in Fund Balance
Total Revenues 10,707,217$ 11,268,844$ 10,685,399$ 12,039,562$
Total Uses (9,336,992) (9,934,545) (10,800,581) (11,292,059)
Change in Fund Balance 1,370,225$ 1,334,299$ (115,182)$ 747,503$
Estimated Beginning Fund Balance 1,815,118$
Estimated Ending Fund Balance 2,562,621$
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: May 2025
Local Sales Tax Revenue
Amount Percent
Retail 2,129,943$ 2,151,940$ 2,361,920$ (209,980)$ 91% 2,329,320$
Remote Seller 432,518 430,303 478,681 (48,378)$ 90% 462,656
Restaurant & Bar 626,682 647,572 681,568 (33,996) 95% 721,736
Other 292,443 358,658 357,271 1,387 100% 387,033
Local Sales Tax Total 3,481,586$ 3,588,473$ 3,879,440$ (290,967)$ 92% 3,900,746$
Contracted Operating Revenue
Amount Percent
Golf Revenue, Trail & Cart Fees 3,076,051$ 3,174,199$ 2,572,302$ 601,897$ 123% 3,318,584$
Member Dues 1,464,442 1,590,988 1,501,560 89,428 106%1,739,647
Food & Beverage 733,778 828,803 771,858 56,945 107%861,704
Merchandise & Other 392,624 405,577 394,855 10,722 103% 436,076
Contracted Revenue Total 5,666,895$ 5,999,567$ 5,240,575$ 758,992$ 114% 6,356,011$
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.
Golf revenues are projected to exceed budget.
Through May, 111,115 rounds of golf had been played which is up 8.2% from the
prior year and 13.8% 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 $158,451.
FY 2024/25
Budget
FY 2024/25
Budget
Actual Vs. Budget
$3.2
$1.6
$0.8
$0.4
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
Golf Revenue,
Trail & Cart Fees
Member Dues Food &
Beverage
Merchandise &
OtherMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
$2.2
$0.4
$0.6
$0.4
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
Retail Remote Seller Restaurant &
Bar
OtherMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 9 of 15
Community Center Fund
Financial Status Fiscal Year to Date: May 2025
Town Operating Revenue
Amount Percent
Daily Drop-Ins 78,352$ 66,537$ 76,000$ (9,463)$ 88% 71,056$
Member Dues 836,380 927,286 832,038 95,248 111% 1,013,521
Recreation Programs 376,300 410,828 388,850 21,978 106% 411,921
Facility Rental Income 82,924 91,315 89,164 2,151 102% 96,810
Town Operating Revenue Total 1,373,957$ 1,495,965$ 1,386,052$ 109,913$ 108% 1,593,309$
Other Revenue
Amount Percent
Interest Income 20,579$ 23,352$ 16,682$ 6,670$ 140% 28,000
HOA Contributions 159,050 159,050 159,050 - 100% 159,050
Miscellaneous 5,151 2,437 3,600 (1,163) 68% 2,447
Other Revenue Total 184,780$ 184,838$ 179,332$ 5,506$ 103% 189,497$
Town operating revenues are performing better than expected.
Member dues have increased by approximately 11% compared to the prior year,
and total memberships have risen by about 1%. We estimate a 21.8% budget
surplus based on these figures.
Both recreation program revenues and facility rental income are outperforming
their budgeted expectations.
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 currently outperforming both prior-year results and the budget.
This is the final year of agreed upon annual contributions to golf from HOAs on
the 36-hole course.
FY 2024/25
Budget
Actual Vs. Budget
$0.1
$0.9
$0.4
$0.1
$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
$0.2
$0.0
$0.0
$0.1
$0.2
Interest Income HOA Contributions MiscellaneousMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 10 of 15
Community Center Fund
Financial Status Fiscal Year to Date: May 2025
Contracted Operating Expenditures
Amount Percent
Personnel 1,702,619$ 1,756,527$ 1,839,522$ 82,995$ 95% 1,930,000$
Food & Beverage 637,184 705,831 701,378 (4,453) 101% 770,352
Operations & Maintenance 2,347,304 2,517,003 2,640,332 123,329 95% 2,831,615
Equipment Leases 149,126 149,126 162,661 13,535 92% 172,705
Contracted Expenditures Total 4,836,232$ 5,128,486$ 5,343,893$ 215,407$ 96% 5,704,672$
Contracted operating expenditures are currently projected to exceed the budget,
mainly because of increased water utility costs and higher labor expenses for
general operations and maintenance.
FY 2023/24
Actuals
FY 2024/25
Actuals
FY 2024/25
Budget
Year End
Estimate
Actual Vs. Budget
$1.8
$0.7
$2.5
$0.1
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
Personnel Food & Beverage Operations &
Maintenance
Equipment
LeasesMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 11 of 15
Community Center Fund
Financial Status Fiscal Year to Date: May 2025
Town Operating Expenditures
Amount Percent
Personnel 984,417$ 1,102,803$ 1,222,583$ 119,780 90% 1,369,156$
Operations & Maintenance 541,133 915,208 982,207 66,999 93% 965,626
Town Operating Expenditures Total 1,525,551$ 2,018,011$ 2,204,790$ 186,779$ 92% 2,334,783$
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 Will carryover into FY26
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
$1.1
$0.9
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
Personnel Operations & MaintenanceMillions
FY 2023/24 Actuals FY 2024/25 Actuals FY 2024/25 Budget
Page 12 of 15
Capital Fund
Financial Status Fiscal Year to Date: May 2025
Sources `
Amount Percent
Federal Grants -$ 1,000,000$ 1,000,000$ -$ 100%
RTA Reimbursements 464,000 164,417 - 164,417 na
Vehicle Reserves 818,162 855,699 933,490 (77,791) 92%
Interest Earnings 661,109 587,156 348,382 238,774 169%
Miscellaneous 167,731 117,328 115,000 2,328 102%
Transfers In from General Fund 7,500,000 5,354,840 7,139,787 (1,784,947) 75%
Total Sources 9,611,002$ 8,079,440$ 9,536,659$ (1,457,219)$ 85%
Uses
Amount Percent
Personnel 245,827$ -$ -$ -$ na
O&M 84,663 188,577 37,000 (151,577) 510%
Capital Outlays 16,847,353 4,487,430 10,286,569 5,799,139 44%
Transfers Out 1,500,000 3,000,000 4,174,530 1,174,530 72%
Total Uses 18,677,843$ 7,676,007$ 14,498,099$ 6,822,092$ 53%
Change in Fund Balance
Total Sources 9,611,002$ 8,079,440$ 9,536,659$
Total Uses (18,677,843) (7,676,007) (14,498,099)
Change in Fund Balance (9,066,841)$ 403,433$ (4,961,440)$
Estimated Beginning Fund Balance 16,677,730$
Estimated Ending Fund Balance 11,716,290$
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:
Federal grants: Arizona State Parks granted $1 million for Naranja Park's pump track and skatepark 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 $174,530 is for a 20%
match for transit vehicles funded by 80% grants. These grant transfers are recorded at the end of the year and may adjust based on the actual
grant awards.
Page 13 of 15
Water Utility Fund
Financial Status Fiscal Year to Date: May 2025
Sources `
Amount Percent
Water Sales 14,731,517$ 16,356,656$ 18,000,000$ (1,643,344)$ 91% 18,133,459$
Charges For Services 2,953,480 3,005,303 3,424,000 (418,697) 88% 3,452,098
Grants - 358,361 - 358,361 - 720,000
Interest Earnings 329,666 294,558 100,000 194,558 295% 300,000
Miscellaneous 38,752 61,078 - 61,078 - 61,078
Transfers In 522,701 - - - - -
Other Financing Sources - 2,433,820 8,000,000 (5,566,180) 30% 7,241,020
Total Sources 18,576,116$ 22,509,776$ 29,524,000$ (7,014,224)$ 76% 29,907,655$
Uses
Amount Percent
Personnel 3,152,255$ 3,158,541$ 3,992,428$ 833,887$ 79% 3,692,566$
O&M 8,932,804 9,456,253 11,198,284 1,742,031 84% 10,550,684
Capital Outlays 1,783,008 1,372,369 1,785,330 412,961 77% 1,451,609
Debt Service 3,472,635 3,255,551 3,391,568 136,017 96% 3,391,568
Transfers Out 2,308 4,028,458 6,862,333 2,833,875 59% 4,629,457
Total Uses 17,343,010$ 21,271,172$ 27,229,943$ 5,958,771$ 78% 23,715,884$
Note: Excludes non-cash outlays for depreciation & amortization
Change in Fund Balance
Total Sources 18,576,116$ 22,509,776$ 29,524,000$ 29,907,655$
Total Uses (17,343,010) (21,271,172) (27,229,943) (23,715,884)
Change in Fund Balance 1,233,106$ 1,238,604$ 2,294,057$ 6,191,772$
Estimated Beginning Fund Balance 9,354,336$
Estimated Ending Fund Balance 15,546,107$
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 expected to exceed the budget by approximately 0.7%, primarily driven by the trend in reclaimed water consumption. Charges for service are
projected to be 0.8% greater than budget driven by late fees and reconnect fees. Interest earnings are expected to exceed budget by $200,000. While the budget
initially anticipated $8 million in loan proceeds for other financing sources, the actual amount is $7.2 million, comprising revenue bonds and a WIFA loan.
Uses:
Personnel is trending under budget due to various vacancies in Water Operations and Engineering.
Operational and maintenance (O&M) is expected to end the year under budget due to CAP water delivery charges and system repair and maintenance.
Capital outlay is projected to finish the year under budget, as less capital maintenance was required for the water system than initially planned.
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 $2,333 to the Debt Service Fund
for debt service.
Page 14 of 15
Stormwater Utility Fund
Financial Status Fiscal Year to Date: May 2025
Revenues `
Amount Percent
Charges For Services 1,408,201$ 1,416,649$ 1,518,500$ (101,851)$ 93% 1,531,499$
Grants - - 210,000 (210,000) - -
Interest Earnings 25,456 42,135 19,000 23,135 222% 44,000
Total Revenues 1,433,657$ 1,458,783$ 1,747,500$ (288,717)$ 83% 1,575,499$
Expenses
Amount Percent
Personnel 835,614$ 800,061$ 1,018,770$ 218,709$ 79% 955,757$
O&M 319,703 276,252 425,834 149,582 65% 366,564
Capital Outlays 50,700 121,316 735,000 613,684 17% 380,351
Total Expenses 1,206,017$ 1,197,629$ 2,179,604$ 981,975$ 55% 1,702,672$
Note: Excludes non-cash outlays for depreciation
Change in Fund Balance
Total Revenues 1,433,657$ 1,458,783$ 1,747,500$ 1,575,499$
Total Expenses (1,206,017) (1,197,629) (2,179,604) (1,702,672)
Change in Fund Balance 227,640$ 261,154$ (432,104)$ (127,173)$
Estimated Beginning Fund Balance 1,062,883$
Estimated Ending Fund Balance 935,710$
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 $14,000. Interest earnings are expected to exceed budget by $25,000. Grants
budget consists of a FEMA grant for the Sierra Wash at Via Mandarina capital project which is not expected to begin this year and will roll into the next fiscal year.
Expenses:
Personnel savings are projected due to a current vacancy and the 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). Two budgeted CIP projects, Sierra Wash at Via Mandarina Drainage Improvements
($365,000) and Oro Valley Drive Drainage and Pavement Improvement ($300,000) have been delayed into next fiscal year.
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
4,105 3,475 630 4,046 59 Rounds ‐ Member 44,975 40,405 4,570 43,200 1,775
605 500 105 945 (340)Rounds ‐ Outing 8,939 7,950 989 8,770 169
5,136 4,000 1,136 4,923 213 Rounds ‐ Public 57,201 49,300 7,901 50,768 6,433
================================================================================ ===============================================================================
9,846 7,975 1,871 9,914 (68)Total Rounds 111,115 97,655 13,460 102,738 8,377
Revenue
206,862 135,250 71,612 216,887 (10,025)Green Fees 2,771,929 2,131,500 640,429 2,360,016 411,913
30,594 22,802 7,792 25,447 5,147 Cart Fees 350,778 300,752 50,026 310,068 40,710
4,388 3,000 1,388 3,931 457 Driving Range 51,492 42,150 9,342 45,802 5,690
0 0 0 0 0 Golf Cards/Passes 0 0 0 0 0
23,886 20,730 3,156 21,413 2,474 Pro Shop Sales 310,743 270,775 39,968 277,813 32,930
44,995 26,975 18,020 34,603 10,392 Food (Food & Soft Drinks) 425,231 361,500 63,731 368,829 56,402
35,883 27,975 7,908 32,117 3,765 Beverages (Alcohol) 382,334 355,208 27,126 344,793 37,541
234 1,000 (766)2,619 (2,385)Other Food & Beverage Revenue 21,238 15,000 6,238 20,156 1,082
7,478 2,655 4,823 4,630 2,848 Other Golf Revenues (Club Rent, Handic 77,307 47,780 29,527 72,986 4,321
1,900 3,000 (1,100)3,410 (1,510)Clinic / School Revenue 21,493 34,250 (12,757)30,335 (8,842)
148,658 125,000 23,658 121,544 27,114 Dues Income ‐ Monthly Dues 1,590,988 1,394,560 196,428 1,460,013 130,975
0 0 0 0 0 Initiation Fee Income / Annual Member 0 7,000 (7,000)4,429 (4,429)
(3,800)1,500 (5,300)494 (4,293)Miscellaneous Income and Discounts (3,966)25,500 (29,466)11,491 (15,456)
============== ================================================================ ==========================================================================
501,079 369,887 131,192 467,094 33,984 Total Revenue 5,999,567 4,985,975 1,013,592 5,306,730 692,838
Cost of Sales
21,103 14,825 (6,278)16,599 (4,504)COGS ‐ Pro Shop 238,563 189,741 (48,822)197,323 (41,241)
15,345 7,890 (7,455)9,313 (6,032)COGS ‐ Food 134,554 108,191 (26,363)125,861 (8,693)
3,198 1,535 (1,663)1,653 (1,545)COGS ‐ Non‐Alcoholic Beverages 24,309 18,078 (6,232)21,497 (2,812)
11,146 8,393 (2,753)8,953 (2,193)COGS ‐ Alcohol 110,109 106,562 (3,547)93,619 (16,490)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
50,792 32,643 (18,149)36,517 (14,275)Total Cost of Sales 507,535 422,571 (84,964)438,299 (69,236)
============== ================================================================ ==========================================================================
450,287 337,244 113,043 430,577 19,709 GROSS INCOME 5,492,032 4,563,404 928,628 4,868,430 623,602
Labor
39,530 38,792 (738)42,844 3,314 Golf Operation Labor 432,158 408,711 (23,447)421,994 (10,164)
13,476 12,090 (1,386)12,894 (582)General and Administrative 139,575 136,960 (2,615)127,504 (12,071)
86,630 70,461 (16,169)79,740 (6,890)Maintenance and Landscaping 837,215 761,611 (75,604)818,917 (18,298)
31,623 27,710 (3,913)29,484 (2,139)F&B 335,359 298,472 (36,887)314,205 (21,154)
7,213 6,038 (1,175)7,304 91 Sales and Marketing 84,403 82,398 (2,005)86,120 1,717
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
178,472 155,091 (23,381)172,266 (6,206)Total Direct Labor 1,828,710 1,688,152 (140,558)1,768,740 (59,970)
14,406 11,913 (2,493)13,228 (1,178)Total Payroll Taxes 147,245 141,559 (5,686)142,831 (4,414)
16,541 10,670 (5,871)16,087 (454)Total Medical/Health Benefits 124,723 122,330 (2,393)119,163 (5,560)
2,933 1,920 (1,013)2,495 (439)Total Workmans Comp 31,696 21,080 (10,616)25,271 (6,425)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
33,880 24,503 (9,377)31,809 (2,070)Total Payroll Burden 303,664 284,969 (18,695)287,265 (16,399)
============== ================================================================ ==========================================================================
212,351 179,594 (32,757)204,076 (8,276)Total Labor 2,132,374 1,973,121 (159,253)2,056,005 (76,369)
Other Operational Expenses
6,396 3,585 (2,811)9,601 3,205 Golf Ops 92,803 71,820 (20,983)85,825 (6,978)
22,813 17,810 (5,003)16,544 (6,270)G&A 187,528 159,475 (28,053)133,861 (53,666)
58,539 40,775 (17,764)52,027 (6,512)Maintenance 600,573 609,635 9,062 601,183 610
5,560 4,470 (1,090)3,858 (1,702)F&B 61,012 49,445 (11,567)42,821 (18,191)
1,240 300 (940)3,743 2,503 Sales and Marketing 23,728 19,034 (4,694)46,460 22,732
13,259 13,259 0 13,259 0 Golf Cart Leases 145,846 145,849 3 145,846 0
298 296 (2)298 0 Equipment Leases 3,279 3,257 (22)3,279 0
102,987 106,955 3,968 89,565 (13,422)Utilities ‐ Maintenance 1,017,550 965,505 (52,045)928,285 (89,265)
13,823 15,850 2,027 16,438 2,615 Utilities ‐ G&A 167,009 187,750 20,741 200,113 33,104
10,824 10,930 106 10,612 (212)Management Fees 119,068 120,230 1,162 116,733 (2,335)
5,877 5,600 (277)9,104 3,227 Insurance ‐ P&C 68,227 61,600 (6,627)37,522 (30,705)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
241,616 219,830 (21,786)225,049 (16,567)Total Other Operational Expenses 2,486,622 2,393,600 (93,022)2,341,928 (144,694)
============== ================================================================ ==========================================================================
453,967 399,424 (54,543)429,124 (24,843)Total Expenses 4,618,996 4,366,721 (252,275)4,397,933 (221,063)
============== ================================================================ ==========================================================================
(3,681) (62,180)58,499 1,453 (5,134)EBITDAR 873,036 196,683 676,353 470,497 402,539
============== ================================================================ ==========================================================================
(3,681) (62,180)58,499 1,453 (5,134)EBITDA 873,036 196,683 676,353 470,497 402,539
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
000(30,164) (30,164)Total Interest Expense 0 0 0 (360,165) (360,165)
============== ================================================================ ==========================================================================
(3,681) (62,180)58,499 31,617 (35,298)Net Income 873,036 196,683 676,353 830,663 42,373
El Conquistador Golf Club
For the Month Ending May 31st, 2025
May YTD
APPENDIX 2Operating:Through MayBudgetCumulativeFY 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 4,566,168 4,015,000 31,658,266 Pusch Ridge‐ 105,370 99,134 59,726 106,184 98,316 ‐ 380,375 414,225 528,346 604,596 479,025 2,396,272 F&B ‐ Overlook‐ 606,171 708,594 745,766 671,582 554,336 448,782 671,479 725,222 766,679 828,803 746,550 6,727,414 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 5,999,567 5,240,575 40,781,953 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 3,913,989 4,183,688 39,881,785 Pusch Ridge‐ 253,513 256,769 236,160 230,196 287,112 ‐ 319,702 390,959 478,320 506,712 458,827 2,959,443 F&B ‐ Overlook‐ 861,740 823,383 841,866 785,499 701,538 440,382 630,509 596,910 684,037 705,831 701,378 7,071,694 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 5,126,531 5,343,893 49,912,922 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) 461,711 652,179 (168,688) (8,223,518) Pusch Ridge‐ (148,143) (157,635) (176,434) (124,012) (188,796) ‐ 60,673 23,266 50,026 97,884 20,198 (563,171) F&B ‐ Overlook‐ (255,569) (114,789) (96,100) (113,917) (147,202) 8,400 40,970 128,312 82,642 122,973 45,172 (344,280) 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 78,701 594,379 873,036 (103,318) (9,130,969) Capital Investments45,116 47,909 29,464 ‐ ‐ 131,035 2,828,061 4,619,904 2,184,848 743,897 835,000 10,630,234 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 3,588,473 3,726,016 29,687,539 HOA contributions‐ ‐ ‐ ‐ ‐ ‐ 125,000 159,050 159,050 159,050 159,050 159,050 761,200 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 263,005 299,163 297,857 375,363 594,117 556,764 534,838 706,996 737,685 675,958 450,287 Expenses 411,466 416,806 442,887 488,946 531,458 378,085 374,611 318,371 420,446 381,953 453,967 Net Income/(Loss) (148,461) (117,643) (145,030) (113,583) 62,659 178,679 160,226 388,625 317,239 294,005 (3,681) ‐ 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) ‐ 200,000 400,000 600,000Jul 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 May 2025FY 2024/2025FundFY 24/25Est. Beginning BalanceRevenueOther Fin Sources/Transfers InTotal In Personnel O&M CapitalDebt ServiceOther Fin Uses/ Transfers OutTotal OutFund Balance Through May 2025General Fund 22,081,503 51,847,156 51,847,156 30,778,881 12,205,323 262,540 7,243,019 50,489,764 23,438,895 Highway Fund 606,047 4,002,232 3,000,000 7,002,232 1,162,229 941,768 3,985,790 6,089,787 1,518,492 Grants and Contributions Fund (185,555) 779,961 779,961 16,819 182,177 264,534 463,529 130,877 Seizure & Forfeiture - Justice/State 331,063 16,250 16,250 - 347,313 Community Center Fund 1,815,118 11,268,844 11,268,844 1,102,803 6,043,694 1,070,899 1,717,149 9,934,545 3,149,416 Municipal Debt Service Fund 326,002 95,715 3,650,379 3,746,094 9,051 4,020,354 4,029,405 42,690 Water Resource System & Dev. Impact Fee Fund 14,427,924 1,595,957 4,026,125 5,622,082 218,165 12,822,582 53,166 13,093,913 6,956,094 Townwide Roadway Dev Impact Fee Fund 2,550,696 598,636 598,636 1,772 6,500 8,272 3,141,059 Parks & Recreation Impact Fee Fund 185,297 211,629 211,629 827 827 396,099 Police Impact Fee Fund 73,057 113,992 113,992 236 42,718 42,954 144,095 Capital Fund 16,677,730 2,724,600 5,354,840 8,079,440 - 188,577 4,487,430 3,000,000 7,676,007 17,081,163 PAG/RTA Fund 430,485 46,453 46,453 30,642 30,642 446,295 Water Utility 9,354,336 20,075,956 2,433,820 22,509,776 3,158,541 9,456,253 1,372,369 3,255,551 4,028,458 21,271,172 10,592,940 Stormwater Utility 1,062,883 1,458,783 1,458,783 800,061 276,252 121,316 1,197,629 1,324,037 Benefit Self Insurance Fund 3,404,005 4,201,184 4,201,184 3,822,524 3,822,524 3,782,665 Recreation In-Lieu Fee Fund 17,976 33,714 33,714 - 51,690 Total 73,158,566 99,071,061 18,465,164 117,536,225 37,019,334 33,377,261 24,393,960 7,329,071 16,031,344 118,150,971 72,543,820
APPENDIX 4General Fund Local Sales Tax Collections FY 2024/25JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALConstruction Sales Tax427,032 291,729 371,199 324,860 545,601 253,973 356,030 414,112 171,326 130,317 296,873 3,583,051 Utility Sales Tax306,838 399,701 417,156 405,901 370,322 335,865 288,120 341,375 312,662 259,576 253,922 3,691,438 Retail Sales Tax750,336 715,116 684,389 714,418 739,186 827,763 1,054,115 782,626 713,089 825,844 800,879 8,607,761 Remote Seller Sales Tax131,633 141,042 139,202 140,153 150,391 183,215 220,084 154,652 143,119 160,766 156,956 1,721,213 Bed Tax107,778 180,045 136,688 120,312 177,934 231,333 286,851 209,622 320,232 321,945 252,906 2,345,645 Restaurant & Bar Sales Tax217,007 191,436 200,970 229,592 214,851 229,614 299,860 224,492 251,749 306,309 224,410 2,590,289 All Other Local Sales Tax *95,050 111,599 95,492 97,497 104,248 138,553 167,658 144,417 176,214 179,760 147,140 1,457,629 Monthly Total 2,035,673$ 2,030,668$ 2,045,096$ 2,032,733$ 2,302,532$ 2,200,315$ 2,672,718$ 2,271,295$ 2,088,391$ 2,184,519$ 2,133,086$ 23,997,027$ Cumulative Total2,035,673$ 4,066,341$ 6,111,437$ 8,144,170$ 10,446,702$ 12,647,017$ 15,319,736$ 17,591,031$ 19,679,422$ 21,863,941$ 23,997,027$ Monthly variance(64,697)$ (236,208)$ (51,407)$ (113,889)$ 81,336$ (103,069)$ 213,054$ (207,120)$ 315,412$ (328,149)$ (222,092)$ Cumulative variance(64,697)$ (300,905)$ (352,312)$ (466,200)$ (384,865)$ (487,934)$ (274,879)$ (481,999)$ (166,586)$ (494,735)$ (716,827)$ 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 856,425 856,425 856,425 856,425 856,425 856,425 856,425 856,425 856,425 856,425 856,425 9,420,674 State Shared Sales Tax 593,796 582,212 575,094 597,416 614,349 622,937 724,079 596,353 582,965 677,435 632,153 6,798,788 County Auto Lieu 237,795 215,615 204,204 224,993 189,831 182,939 128,184 304,691 257,209 119,394 230,779 2,295,636 Smart and Safe- - - - - 138,177 - - 15 - - 138,192 Monthly Total 1,688,016$ 1,654,252$ 1,635,723$ 1,678,834$ 1,660,605$ 1,800,479$ 1,708,688$ 1,757,469$ 1,696,614$ 1,653,254$ 1,719,357$ 18,653,291$ Cumulative Total 1,688,016$ 3,342,268$ 4,977,991$ 6,656,825$ 8,317,430$ 10,117,909$ 11,826,596$ 13,584,065$ 15,280,679$ 16,933,933$ 18,653,291$ Monthly variance (151,985)$ (229,616)$ (189,309)$ (190,136)$ (175,547)$ (183,187)$ (274,755)$ (83,157)$ (181,426)$ (278,225)$ (182,412)$ Cumulative variance (151,985)$ (381,601)$ (570,909)$ (761,046)$ (936,593)$ (1,119,780)$ (1,394,535)$ (1,477,693)$ (1,659,119)$ (1,937,343)$ (2,119,755)$ 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$ 8,677,052$ 4,854,118$ 8,038,871$ 13,923,747$ 14,482,128$ Investment Income16,989$ 15,807$ 13,771$ 14,795$ 16,950$ 23,753$ 31,580$ 17,465$ 28,449$ 45,289$ 49,706$ 1-Month Yield5.42% 5.32% 5.04% 4.84% 4.65% 4.51% 4.41% 4.36% 4.33% 4.33% 4.33%PFM Asset ManagementClosing Market Value55,564,717$ 54,718,509$ 53,177,796$ 50,876,284$ 49,493,292$ 48,491,572$ 46,056,334$ 44,406,976$ 43,344,947$ 41,951,150$ 43,566,778$ Investment Income242,494$ 212,354$ 138,428$ 115,743$ 214,420$ 122,153$ 344,426$ 182,558$ 88,866$ 128,660$ 246,997$ Annualized Yield to Maturity at Cost4.01% 3.98% 4.11% 4.20% 4.24% 4.29% 4.30% 4.35% 4.39% 4.43% 4.42%Wells Fargo SweepEnding Balance3,651,439$ 4,348,204$ 2,832,971$ 3,463,068$ 5,557,936$ 3,919,949$ 3,927,620$ 5,825,831$ 3,744,407$ 2,662,789$ 3,893,632$ Investment Income18,152$ 12,122$ 15,630$ 11,743$ 11,590$ 13,504$ 11,635$ 20,615$ 12,799$ 13,690$ 13,000$ 7-Day Simple Yield5.19% 5.17% 4.80% 4.72% 4.52% 4.36% 4.26% 4.23% 4.21% 4.20% 4.17%Total Ending Balance62,396,632$ 62,509,037$ 59,906,835$ 57,834,599$ 58,530,640$ 60,191,093$ 58,661,006$ 55,086,925$ 55,128,225$ 58,537,687$ 61,942,539$ Total Investment Income277,635$ 240,283$ 167,829$ 142,281$ 242,960$ 159,409$ 387,641$ 220,638$ 130,115$ 187,639$ 309,702$
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
Budget and Finance Commission 4.
Meeting Date:08/19/2025
Submitted By:David Gephart, Finance
SUBJECT:
UPDATE AND DISCUSSION ON NEW TAX CATEGORIES AND FEE PROPOSALS
RECOMMENDATION:
N/A
EXECUTIVE SUMMARY:
The purpose of this item is to bring the Budget & Finance Commission up to speed on public outreach for the new
tax categories and fee proposals, as well as discuss feedback received.
BACKGROUND OR DETAILED INFORMATION:
Public outreach on new taxes and fees has been going well. Below is a timeline and listing of outreach events
that have recently occurred.
July 9 - Parks & Rec fee proposal community outreach zoom meeting
July 10 - New tax category proposal community outreach zoom meeting
July 15 - Stormwater fee proposal community outreach zoom meeting
July 16 - Presentation to OV Chamber Board on new tax category and stormwater fee increase proposal
July 21 - Discussion with Roche Pharmaceuticals tax personnel about new tax category proposal
Moving forward:
September 11 - The OV Chamber of Commerce will be hosting a new tax category and stormwater fee business
forum to present and discuss the proposals with the broader business community.
September 16 - Further discussion will also occur at the next Budget & Finance Commission meeting.
October 1 - A study session with Town Council is scheduled to occur to discuss proposals, feedback, and
concerns.
October 15 - A decision by Town Council is expected.
FISCAL IMPACT:
N/A
SUGGESTED MOTION:
N/A