FY 2025 Financial Statment_Final
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ANNUAL COMPREHENSIVE
For the Fiscal Year Ended June 30, 2025
FINANCIAL REPORT
Issued by:
Finance Department
CITY OF EL MIRAGE, ARIZONA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2025
CITY OF EL MIRAGE, ARIZONA
Table of Contents
Introductory Section:
Page
Letter of Transmittal ................................................................................................................................ i
Organizational Chart ............................................................................................................................ vii
List of Principal Officials .................................................................................................................... viii
GFOA Certificate of Achievement ...................................................................................................... xiv
Financial Section:
Independent Auditors’ Report ................................................................................................................ 1
Management’s Discussion and Analysis ................................................................................................ 5
Basic Financial Statements
Government-wide Financial Statements
Statement of Net Position ........................................................................................................ 19
Statement of Activities ............................................................................................................ 20
Fund Financial Statements:
Balance Sheet – Governmental Funds ..................................................................................... 21
Reconciliation of the Balance Sheet of Governmental Funds
To the Statement of Net Position of Governmental Activities ............................................. 22
Statement of Revenues, Expenditures, and Changes in
Fund Balances – Governmental Funds ................................................................................. 23
Reconciliation of the Statement of Revenues, Expenditures and Changes
in Fund Balances of Governmental Funds to the Statement of Activities ............................ 24
Statement of Net Position - Proprietary Funds ........................................................................ 25
Statement of Revenues, Expenses and Changes
in Net Position - Proprietary Funds ...................................................................................... 26
Statement of Cash Flows - Proprietary Funds ......................................................................... 27
Notes to the Financial Statements ............................................................................................... 28
Required Supplemental Information:
Schedule of the Proportionate Share of the Net Pension Liability ................................................. 68
Schedule of the Proportionate Share of the Net OPEB Liability ................................................... 69
Schedule of Changes in the Net Pension Liability and Related Ratios .......................................... 70
Schedule of Changes in the Net OPEB Liability and Related Ratios ............................................ 72
Schedule of Pension/OPEB Contributions ..................................................................................... 74
Notes to Pension/OPEB Plan Schedules ........................................................................................ 78
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget
and Actual – General Fund ...................................................................................................... 82
Notes to General Fund Budget and Actual Schedules ................................................................... 84
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget
and Actual – Special Projects Fund ......................................................................................... 85
Supplementary Information:
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget
and Actual – Streets (Capital Project Fund) ............................................................................ 88
Combining and Individual Fund Financial Statements and Schedules:
Combining Balance Sheet – Nonmajor Governmental Funds ....................................................... 90
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – Nonmajor Governmental Funds ................................................................... 91
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget
and Actual – Municipal Court Enhance .................................................................................. 92
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget
and Actual – Dial-A-Ride (LTAF) .......................................................................................... 93
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget
and Actual – Police Towing .................................................................................................... 94
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget
and Actual – Community Development Block Grant ............................................................. 95
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget
and Actual – Streets (HURF) .................................................................................................. 96
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget
and Actual –Debt Service ........................................................................................................ 97
Statistical Section:
Financial Trends:
Net Position by Component ......................................................................................................... 100
Governmental and Business-Type Activities Expense ................................................................ 101
Program Revenues and Net (Expense)/Revenue ......................................................................... 103
General Revenues, Transfers, and Total Changes in Net Position .............................................. 105
Fund Balances - Governmental Funds ......................................................................................... 107
Governmental Funds Revenues ................................................................................................... 109
Governmental Funds Expenditures and Debt Service Ratio ........................................................ 110
Other Financing Sources and Uses and Net Changes
in Fund Balances - Governmental Funds ................................................................................. 112
Revenue Capacity:
Taxable Sales by Category ........................................................................................................... 113
Transaction Privilege (Sales) Tax Revenue Payers by Industry .................................................. 114
Assessed Value and Full Cash Value of Taxable Property .......................................................... 115
Direct and Overlapping Property Tax Rates ................................................................................ 116
Property Tax Levies and Collections ........................................................................................... 117
Principal Property Tax Payers ..................................................................................................... 118
Debt Capacity:
Ratios of Outstanding Debt by Type ........................................................................................... 119
Ratios of General Bonded Debt Outstanding ............................................................................... 120
Direct and Overlapping Governmental Activities Debt ............................................................... 121
Legal Debt Margin Information Unrestricted and Restricted ...................................................... 12
Demographic and Economic Information:
County-Wide Demographic and Economic Statistics .................................................................. 12
Principal Employers ..................................................................................................................... 12
Operating Information:
Full-Time Equivalent City Government Employees by Function ............................................... 12
Capital Asset Information ............................................................................................................ 12
Operating Indicators by Function ................................................................................................ 12
Other Communications From Independent Auditors:
Independent Auditors’ Report on Internal Control over Financial Reporting
and on Compliance and Other Matters ........................................................................................ 13
Report on Compliance with State Laws and Regulations .................................................................. 13
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INTRODUCTORY SECTION
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Finance Department
10000 N. El Mirage Road, El Mirage, AZ 85335
623-876-2953; Fax 623-972-8110; TDD 623-933-3258
www.elmirageaz.gov
October 31, 2025
To the Honorable Mayor, Members of the City Council and Residents of the City of El Mirage:
State law mandates that all general-purpose local governments are required to undergo an annual
Single Audit and publish a complete set of financial statements presented in conformity with
accounting principles generally accepted in the United States of America and audited in
accordance with standards generally accepted in the United States by a certified public
accounting firm licensed in the State of Arizona within nine months after the close of the fiscal
year. Pursuant to that requirement, we hereby issue the Annual Comprehensive Financial Report
of the City of El Mirage, Arizona (City) for the fiscal year ended June 30, 2025.
This report consists of management’s representations concerning the finances of the City.
Consequently, management assumes full responsibility for the completeness and reliability of all
of the information presented in this report. To provide a reasonable basis for making these
representations, management of the City has established a comprehensive internal control
framework that is designed both to protect the City’s assets from loss, theft, or misuse and to
compile sufficient reliable information for the preparation of the City’s financial statements in
conformity with accounting principles generally accepted in the United States of America.
Because the cost of internal controls should not outweigh their benefits, the City’s
comprehensive framework of internal controls has been designed to provide reasonable rather
than absolute assurance that the financial statements will be free of material misstatement. As
management, we assert that, to the best of our knowledge and belief, this financial report is
complete and reliable in all material respects.
The City’s financial statements have been audited by Hinton Burdick, a certified public
accounting firm. The goal of the independent audit was to provide reasonable assurance that the
financial statements of the City for the fiscal year ended June 30, 2025, are free of material
misstatement. The independent audit involved examining on a test basis, evidence supporting the
amounts and disclosures in the financial statements; assessing the accounting principles used and
significant estimates made by management; and evaluating the overall financial statement
presentation. The independent auditors concluded, based upon the audit, that there was a
reasonable basis for rendering an unmodified opinion that the City’s financial statements for the
fiscal year ended June 30, 2025, are fairly presented in conformity with accounting principles
generally accepted in the United States of America. The independent auditor’s report is presented
as the first component of the financial section of this report.
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Accounting principles generally accepted in the United States of America require that management provide a
narrative introduction, overview, and analysis to accompany the basic financial statements in the form of
Management’s Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the
MD&A and should be read in conjunction with it. The City’s MD&A can be found immediately following the
report of the independent auditors.
Profile of the Government
The City of El Mirage is situated on approximately ten (10) square miles in the heart
of the rapidly growing West Valley. The City was founded in 1937 by migrant farm
workers who settled on the west bank of the Agua Fria River and harvested the acres
of roses, cotton, and other crops that would come to define the City’s agricultural
heritage. Since its incorporation in 1951, the community has transcended its
agricultural beginnings to become a vibrant, diverse community with a 2020 U.S.
Census population of 35,805.
El Mirage operates under a council-manager form of government. Under this system,
the City Council hires a City Manager to implement policy and oversee all City
departments' daily administration and management. The City Manager is responsible
for developing a balanced budget and a capital improvement plan for Council review
and approval each year. The City Manager also keeps the Council advised of the
City’s financial condition and future needs. The City Manager is responsible for the activities of 12 funds and
one sub-fund, 12 departments, and more than 200 employees. The position also oversees a budget that provides
a full range of services for the City’s residents. Policymaking and legislative authority are vested in a governing
council consisting of the Mayor and six Councilmembers (one is selected as Vice Mayor.) All seven members
of the Council are elected at large and on a nonpartisan basis to serve a four (4) year term. Elections are
staggered, so three councilmembers are elected every two years, and the Mayor is elected every four years. The
Council is responsible for passing ordinances, adopting the budget, appointing committees, and selecting the
City Clerk, City Attorney, and Judge, along with the City Manager.
The City of El Mirage provides a full range of services, including police and fire protection, roadway
maintenance and construction, recreational and cultural activities, health and social services, as well as general
administrative services. The City provides wastewater and water services for its residents, along with water
services to residents in a portion of the City of Surprise. El Mirage contracts with a local sanitation company for
solid waste services. Enterprise funds were established for the
accounting and financial reporting of water, wastewater, and
sanitation services.
The City of El Mirage offers a range of community facilities,
including a senior center, library, and YMCA. In July 2022,
the library relocated to a newly remodeled building that
previously housed a fire station. At 7,500 square feet, triple
the size of the previous library, the new library features a
community room, a computer room, and expanded space. The
City's three community-wide parks include: Gateway Park, a
13-acre hub for sports and family gatherings in El Mirage
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featuring an amphitheater, splash pad, picnic ramadas, shaded playgrounds, lighted sports fields, and a skate
plaza that was the first of its kind in Arizona; Bill Gentry Park, which includes a baseball field available for
public use; and Basin Park, a 24-acre park and retention basin that offers grassy areas, trees, and a paved
walking path for passive recreational activities. The City's Parks and Recreation Department also operates ten
additional neighborhood pocket parks throughout the community with various amenities. The nationally
renowned Pueblo El Mirage Golf Resort, situated on 310 acres, boasts an 18-hole professional golf course, a
variety of housing choices, and a host of indoor and outdoor activities for active seniors.
The annual expenditure budget serves as the foundation for City financial planning and control. The objective
of these budgetary controls is to ensure compliance with legal provisions embodied in the annual expenditure
budget approved by the City Council. All City departments are required to submit requests for appropriations
during the budget process. The City Manager uses these requests plus the prior year’s operating budget as the
starting point for assembling a proposed budget for Council consideration. The Council holds a workshop to
discuss the proposed budget where presentations are made to the Council on revenues, expenditures, capital,
staffing, and taxes. Public hearings are then held on both the budget and proposed property levies. Both the
budget and the tax levy are approved by the Council before the third Monday in August each year. Maricopa
County is required to set the tax rate to collect the levy that the Council sets. The County sets the rate on the
third Monday in August. The budget schedules provided by the state are adopted at both the fund and
department levels, which become the legal levels of control for the City Council. Council must authorize all
budget adjustments at these levels.
Local Economy
El Mirage offers two key incentives to attract new commercial and industrial businesses: no Development
Impact Fees and no additional Construction Sales Taxes. The City is also part of a regional economic initiative
known as the Greater Maricopa Foreign Trade Zone (GMFTZ #277), a 691-acre, government-designated,
usage-driven site located at the southern end of the City. This Foreign Trade Zone allows foreign and domestic
goods to be stored, assembled, or exhibited for sale without incurring U.S. Customs duties and excise taxes,
providing a strategic advantage for global trade and logistics operations.
The City's economic goal is to create a community that provides its residents with the opportunity to purchase
any good or service they desire without having to leave the City limits. El Mirage has turned its focus toward
retail and industrial growth, resulting in the opening and expansion of several businesses within the City in
recent years. The number of companies operating in El Mirage currently stands at 1,671, according to the 2012
Survey of Business Owners.
Retail growth generates significant revenue, creates jobs, and attracts new visitors and residents. The City
actively promotes retail development, particularly along the Thunderbird Overlay District, Grand Access Road,
and other areas zoned for commercial use. In recent years, El Mirage has experienced a strong surge in
industrial development, supported by major investments that have fostered economic growth and job creation.
The arrival of companies such as Microsoft, Compass Datacenters, Cives Steel, Arcadia Cold, Dermody
Properties, Avanti Windows, El Mirage Medical Center, Desert Truss, Consolidated Resources Inc., and
CarMax has solidified the City’s reputation as a prime destination for business investment. These firms are
drawn by El Mirage’s pro-business environment and strategic location with convenient access to major
transportation corridors, including the newly completed Northern Parkway corridor and the expanded Dysart
Road.
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According to the U.S. Census Bureau, the population of El Mirage grew from 5,001 in
1990 to 35,805 in 2020, reflecting a dramatic increase that underscores the City’s
growing appeal. The median household incomes of El Mirage residents of $72,134 are
slightly lower than the State average. The median home value in the City is $246,800.
The City’s primary source of debt is through bonds and the City has an AA bond rating
from Standard & Poor’s and Aa2 from Moody’s Investor Service. General obligation
bonds (G.O. bonds) are the most common financing method for large governmental
projects. This is the most inexpensive way to finance projects because the bond’s
repayment is based on the full taxing authority of the City, backed by real property. Voters must approve any
secondary property taxes levied to support the issuance of G.O. bonds.
The City’s growth has been accompanied by a wave of non-retail development, driven by the City's focus on
attracting critical business sectors. These efforts have resulted in millions of dollars in capital investment.
Currently, El Mirage has 15 active development projects totaling over 650,000 square feet, with over 1.7
million square feet of new development completed in the past five years.
El Mirage is home to a diverse and growing base of employers. Avanti
Windows is the City’s largest employer, with more than 570 employees.
Burlington Northern Santa Fe Railroad operates an 82-acre vehicle
distribution center within the City. Other notable industrial employers
include Custom Mechanical Systems, Look Trailers, Sutter Masonry,
CEMEX, Contech Engineered Solutions, Southwest Steel, Riley
Industrial, and Southwest Concrete, all of which contribute to a strong
and resilient industrial base. In addition, CarMax is nearing completion of
its new 84,000-square-foot auto restoration and auction facility, which
will further enhance the City’s employment landscape. Luke Air Force
Base, located one mile west of El Mirage, is the largest jet fighter training
base in the world and employs over 1,500 civilians, many of whom are El
Mirage residents.
Long-Term Financial Planning and Major Initiatives
The information presented in the financial statements is perhaps best understood when it is considered from the
broader perspective of the specific environment in which the City operates.
The CIP is based in part on a series of goals adopted by the Council. The Council goals and the CIP are
intended to make the City more attractive to commercial development. As part of the CIP, the City continually
updates a five-year financial projection.
The presence of Luke Air Force Base provides a significant employment and economic engine for the
community. However, Luke’s presence has placed significant land use restrictions on large tracks of City
property. Although such property is primarily zoned “agricultural” at present, the City and the primary property
owner have begun to convert this property to commercial and industrial uses. While the property develops, the
City continues to concentrate on infill properties ranging in size from a few acres to more than 80 acres.
Given the continuing economic uncertainty at the local, state, and national levels, the City Council and
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administration recognize the need to assure reserves are available for
future revenue shortfalls. Therefore, the budget reflects a General Fund
reserve of $13.0 million. When the Council approved a utility rate study
in 2011, it established reserves for each of the three utilities ranging from
one month to three months. The reserves are not budgeted. The reserves
are only intended to offset shortfalls in revenue collections, not as an
opportunity to increase expenditures. By resolution, the Council also
directed that all primary property taxes be restricted to uses in support of
police and fire operations.
For the fiscal year ended June 30, 2025, the City completed the construction of Dysart Road that has and will
continue to have significant future impact on the quality of life for its citizens, while expanding infrastructure
and increasing the resources available for economic development. Dysart Road was identified as a “Road of
Regional Significance” back in the 1999 Maricopa Association of Governments (MAG) study. Dysart road just
went from one lane in each direction between Northern and Peoria Avenues to two 12 foot through lanes, a 14-
foot median, bike lanes and curb and gutter. The project included the design, land acquisition and construction.
The total project cost estimate was originally $11.1 million and increased each year to accommodate inflation
and scope related changes. The total spent to complete the project was $18.8 million.
El Mirage complies with the Arizona Department of Water Resources (ADWR) requirement to account for all
water it uses through a variety of sources, including groundwater, surface water allocations, and effluent water
recharge into the regional aquifer. This mix of sources allows the City to offset its groundwater use and assures
its water supply for the next 100 years. Future capital investments in utility infrastructure approved by the
Mayor and Council support the City’s mission to provide residents with a reliable and safe water source.
For the upcoming fiscal year Council approved the following priorities:
x Analyze development impact fees in addition to the utility rates in forecasts.
x Invest in neighborhood services, parks and recreation, and arts and culture.
x Plan for more ways to facilitate and invest in community engagement and outreach.
x Update and improve the Council Chambers and streaming of council meetings.
Relevant Financial Policies
Each year since June 2012, the City Council has adopted or reviewed a series of comprehensive financial
management policies designed to maintain a financially viable City government that provides an adequate level
of services, programs, and activities that add value and contribute to the City’s mission, while providing
financial flexibility to adapt to local, regional, and national economic changes.
Some of the adopted financial policies that may help users better understand the financial data included in this
report are shown below:
x The City shall maintain a prudent level of financial resources to protect against reducing service levels,
incurring debt, or raising taxes and fees because of unexpected revenue shortfalls, unanticipated
expenditures, and similar circumstances.
x The City shall rely on ongoing revenues to fund ongoing expenditures and avoid one-time sources of
revenues to fund ongoing activities.
x The City shall annually prepare five-year revenue and expenditure forecasts to examine the City’s ability
to absorb operating costs due to changes in the economy, service demands, service levels, and capital
improvements.
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x The City shall fund current year capital projects with bonds, grants, or funds accumulated (fund
balances) prior to budgeting for capital expenditures.
x The City shall practice conservatism in budgeting for both revenues and expenditures to ensure the City
can meet its ongoing obligations. The City shall not budget excess funds collected (fund balance) for
ongoing expenditures.
x The City shall develop diversified and stable revenue sources to protect activities from short-term
fluctuations in any single revenue source.
x The City shall not dedicate revenues for specific purposes unless required by law, Council policy, or
Generally Accepted Accounting Principles (GAAP). The Finance Director shall deposit all non-restricted
revenues in the General Fund for appropriation through the budget process.
x The Council shall review user fees and charges annually to ensure recovery of all direct and indirect
costs of service, unless full cost recovery would be excessively burdensome on citizens receiving
service.
Awards and Acknowledgements
The Government Finance Officers Association (GFOA) awarded the Certificate of Achievement for Excellence
in Financial Reporting to the City for its Annual Comprehensive Financial Report for the fiscal year ended June
30, 2024. To be awarded this certificate, the City published an easily readable and efficiently organized annual
comprehensive financial report. This report satisfied both generally accepted accounting principles in the United
States and applicable legal requirements. This certificate is valid for a period of one year only. City finance
officers believe that the current annual comprehensive financial report meets the program’s requirements, and
we will be submitting it to GFOA to determine its eligibility for the fiscal year ended June 30, 2025, certificate.
The City of El Mirage also received the GFOA’s Distinguished Budget Presentation Award for its annual budget
document dated July 1, 2024. To qualify for the Distinguished Budget Presentation Award, the City of El Mirage’s
budget document had to be judged proficient as a policy document, a financial plan, an operations guide, and a
communications device.
The timely preparation of the annual comprehensive financial report was made possible by the dedicated service
of the entire staff of the Finance Department. Each member of the department and all departments who assisted
are to be commended for their contributions to the preparation of this report.
In closing, without the leadership and support of the City Council and the City Manager, preparation of this report
would not have been possible.
Respectfully submitted,
Robert Weddigen
Finance Director-CFO
Organizational Chart
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City of El Mirage, Arizona
List of Elected City Officials
Mayor Alexis Hermosillo
Alexis Hermosillo is in her second term as Mayor. As a proud fifth generation El
Mirage resident, the Mayor is passionate about her community and is committed to
enriching the lives of El Mirage residents.
Through her experience in public service, she has worked for the largest public
transportation company in Maricopa County, was the manager of a radio network under
the Cesar Chavez Foundation and worked for the U.S. House of Representatives as a
District Representative for Arizona Congressional District 3.
Mayor Hermosillo has also led national efforts to improve climate conditions through
carbon pricing and provided operational and managerial support to numerous non-profits on a state and
national level.
Mayor Hermosillo currently serves on the following boards and committees:
City of El Mirage Public Safety Personnel Retirement System Committee
Maricopa Association of Governments (MAG) Executive Committee
MAG Regional Council
MAG Economic Development Committee (past Chair)
League of Arizona Cities and Towns Executive Committee
Arizona League of Arizona Cities and Towns Committee: General Administration, Human Resources
and Elections Policy
Arizona League of Arizona Cities and Towns Budget Subcommittee
Luke West Valley Council
WESTMARC Board of Directors
Southwest Valley Chamber of Commerce Board of Directors
Greater Phoenix Economic Council
Mayor Hermosillo has also served on the Valley Metro Regional Public Transportation Board of Directors.
The Mayor is committed to the empowerment of women and has served on the Board of Directors for the
YWCA of Metropolitan Phoenix.
She has worked with the Hispanic Women’s Corporation, supporting their national youth initiatives. She
believes that investing in today’s youth is an investment in our future and has dedicated herself to engaging
and motivating Latino youth through leadership development programs with various organizations such as
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Unidos US (formerly National Council of La Raza).
Mayor Hermosillo holds a master’s degree in Journalism and a bachelor’s degree in Interdisciplinary Arts and
Performance, both Arizona State University. She currently pursuing her doctoral degree in Organizational
Leadership from Grand Canyon University.
Vice Mayor Jacquelyn Parsons
Jacquelyn Parsons was born in Miami, Florida, as one of eight siblings in a large and
tight-knit family. Growing up in a dynamic household helped foster her deep sense of
community and responsibility to others, and taught her the values of cooperation,
compassion, and resilience. After moving to Arizona, she attended Trevor G. Browne
High School in Phoenix, where she developed a strong work ethic and leadership
qualities that would guide her throughout life. Although Jacquelyn did not pursue
higher education, her personal and professional experiences, including a 25-year career
in banking, have made her a seasoned advocate for practical solutions and leadership.
Jacquelyn has been married to her husband, Dan, for 41 years. She is a proud mother of
three children and a devoted grandmother to five. Her family is her cornerstone, and they serve as her greatest
source of inspiration. Since settling in El Mirage in 2002, she has been an active and passionate member of the
community. Her love for family extends to her community, where she strives to create an environment where all
families can prosper and feel supported.
Jacquelyn’s commitment to public service led her to pursue a role on the El Mirage City Council, where she is
excited to serve as a representative voice for her fellow residents. As a councilwoman, she is committed to
ensuring a safe and vibrant community. Her leadership is grounded in listening, collaboration, and advocating
for policies that will improve the quality of life for all El Mirage citizens while preserving the city’s character
and values..
Councilmember Monica Dorcey
Monica Dorcey was born and raised in rural Wayne, Nebraska, one of nine siblings.
After graduating from Briar Cliff University in Sioux City, Iowa, she worked in the
independent adjusting business for 27 years. In 2003 she went to work as a senior claim
representative for Farmers Insurance Group, moving to El Mirage with her daughter,
Ashley. Monica is a member of Santa Teresita parish and has served in several
ministries over the years.
Monica is now retired but continues to be involved in a number of non-profit
organizations with a primary emphasis on children and their education but also
fostering the growth and development of El Mirage. She has served in a number of
roles as a volunteer for the City of El Mirage. This work includes:
Served as Vice Mayor from 2021-2022
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Served on the Planning and Zoning Commission from 2013 to 2018
Served on the Judicial Review Committee from 2012 to 2017
Named El Mirage Citizen of the Year in 2012
Served on the planning committee for the El Mirage homeowners association (HOA) training presented in
2016 to 2017
Board member of the Northwest Valley YMCA Advisory Board, serving on the board since 2014
Treasurer of the Dysart Education Foundation Board and Scholarship Committee, active
Treasurer of Arizona Career Pathways, 2011 to present.
President of the West Valley Neighborhoods Coalition
Councilmember Ryan Eldridge
Ryan Eldridge, a proud father of four, was recently elected to the City Council of El
Mirage, Arizona. He is eager to serve the community and strengthen the city’s
foundation. Deeply committed to connecting with residents, Ryan believes family and
community are the cornerstones of a thriving city. Drawn to El Mirage for its small-
town charm, Ryan relocated to the area to raise his two youngest children in a
nurturing and close-knit environment reminiscent of his own upbringing.
Originally from Ironton, Ohio, Ryan grew up with a strong sense of family, inspired by
the values instilled in him during his childhood. He has a younger brother who resides
in Tucson, Arizona. When not serving his community, Ryan enjoys exploring ghost
towns and historic mining camps, hiking through the desert, searching for gems and minerals, and indulging in
his passion for storytelling. These interests led to the creation of his show, Adventures With Pappy, which aired
briefly on Amazon and YouTube.
Professionally, Ryan has dedicated 27 years to the security industry, where he has built a reputation for
excellence and integrity. As a former business owner, he has demonstrated entrepreneurial leadership and a
commitment to professional development. Ryan is a certified instructor in the security field, where he trains
armed and unarmed officers. His certifications include multiple training courses through the National Rifle
Association (NRA), underscoring his passion for education and skill development.
Ryan’s dedication to service extends well beyond his professional career. He has actively volunteered with the
Arizona Special Olympics as a coach and mentor and has contributed significantly to the American Society for
Industrial Security (ASIS) Phoenix Chapter. He chaired the prestigious Law Enforcement Appreciation
Luncheon for two years, honoring fallen officers, supporting their families, and recognizing outstanding officers
for their service and bravery.
As a newly elected City Council member, Ryan brings experience, a passion for community engagement, and a
commitment to fostering growth and connection in El Mirage. His leadership is driven by the belief that every
day is an opportunity to improve and make a difference, both as an individual and as part of the community he
serves.
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Councilmember Scottie Gentry
Scottie Gentry is one of our newly elected El Mirage City Council members. An El
Mirage native, she is deeply rooted as a resident, having attended El Mirage
Elementary and Dysart High School where she participated in the swim team and 4-H
activities. After graduation she attended classes at Estrella Mountain Community
College where she was the first M.E.C.h.A Club Treasurer (MEChA, the national
organization of chapters participating in educational and social activities as well as
political actions) and she studied the administrative justice system.
She is as passionate about her community as her family, having settled here in 1939.
Scottie was born and raised on the same family property in 1971 where her mother
grew up, Scottie is third in line of Gentry council members. Her dad Bill Gentry served El Mirage as a council
member in the late 1960’s and her sister, Sharon Quinones served as council member in the mid 1990’s. She is
proud to continue the family legacy.
Through her experience in service to the public, Scottie was a volunteer with the Dysart High School Band and
just like her dad Bill Gentry, she coached T-ball at Bill Gentry Park. She was also instrumental in advocating
for the city to provide council meeting transcripts to the public and provided services as the treasurer for the El
Mirage Citizens Against Bond 2023. She looks forward to serving our community on various projects as she
has done in the past where she was elected as the Secretary for El Mirage Citizens on Patrol in the El Mirage
Police Department. Currently, Scottie volunteers with the El Mirage Cares Program and she can be found at
almost every city sponsored event.
Her former employment includes MCSO (Maricopa County Sheriff's Office) and Tricare Insurance Company
for members of the uniformed services and their families.
Scottie is a devoted mother of four and grandmother of five and enjoys spending as much time as she can with
her children and grandchildren.
She looks forward to providing El Mirage Citizens with dependable and honest communication, accountability,
and transparency in the next 4 years as an El Mirage City Councilmember.
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Councilmember Anita Norton
Councilmember Anita Norton-McDaniel has resided in Arizona most of her life and
has a background as a small business owner, in sales management, and in law
enforcement. She moved from Peoria to El Mirage in 2004.
Councilmember Norton-McDaniel has served on the City Council since being
appointed to fill a vacancy in November of 2017. She was then elected in August
2018 to serve the citizens of El Mirage and re-elected again in 2022. Anita has been a
champion supporter of public safety, helping to bring about positive and progressive
changes in our Police and Fire Departments. She joined the MAG Regional Domestic
Violence Council in February 2020 and served as Chair from May 2021 – December
2023. While continuing to serve on the MAG Regional Domestic Violence Council,
she also serves on the MAG Teen Dating Violence Group, and the MAG Crisis Workforce Group. Through
her work with MAG, she engages in public outreach on issues of domestic violence and teen dating violence
within the community as well as within partnership with other cities in Maricopa County. She also served as
an alternate to the Community Development Advisory Committee of Maricopa County Human Services
Division (CDAC), which has brought in millions of federal dollars for City improvements.
While serving with the Phoenix Police Department, Anita received a commendation for her investigative
ability and recognition for composure in particularly high stress situations. Her confidence, fearlessness, and
thoroughness resulted in a high number of solved cases.
A certified riding instructor for western and English horsemanship, as well as, an instructor for riders with
disabilities for the last 21 years, Anita has had a positive impact on the lives of hundreds of students, helping
them grow in confidence and overcome fears while learning to ride.
After concerns were raised regarding a major incident involving local teens in the spring of 2018, Anita
established El Mirage Cares, a program the City offers to inform parents, families, and local residents about
the many dangers and obstacles that challenge the health and welfare of our young children, teens, and adults
through free public forums. With the involvement of members of the Maricopa County Attorney's Office and
other professionals, as well as the participation of the Dysart Unified School District, some of the topics
covered thus far have included the dangers of drugs and vaping, teen dating and domestic violence, suicide
prevention and awareness, sex trafficking, and bullying and depression. The goal of this program is to save
lives and promote healthy families. Although COVID put a stop to the public forums, Anita continues the El
Mirage Cares program at various events held by the City throughout the year.
Anita is thankful for the opportunity to serve the citizens of El Mirage and to be part of a growing City with
the goal of enhancing the lives of all who live, work in, and visit our great community.
xiii
Councilmember Donna Winston
Donna is a native Arizonan and grew up on the west side. She graduated from ASU,
Magna Cum Laude and double majored in Criminal Psychology and Communication.
She is married to Dr. Joshua Winston, DVM, has four children, two granddaughters
and a grandson. She bought her first brand new home in Rancho El Mirage and has
lived here for 24 years.
Donna has worked for Maricopa Community Colleges since 1996 and is currently a
Student Service Analyst at the District Office. Along with her duties there, she has
been an employee advocate leader for the last 24 years which included writing
employee policy along with helping Maricopa Community College employees.
Through this advocacy work for employees, Donna was asked to start the public employee sector of Arizona
Conference of Police and Sherriff (AZCOPS), called "Maricopa Employees". She is currently the President of this
non-profit group and proudly leads her board by navigating public employees through processes and policies of
their organization.
Donna’s husband, Dr. Winston, is a Veterinarian and works at Sun City West Animal Hospital. Their two eldest
sons are veterans of the U.S. military and are very dedicated to military personnel and their families. Donna is also
a wedding planner and owns By Invitation Only.
Donna believes in giving back to her community and has been extremely involved in volunteerism since she was a
very young girl. She was the Family Readiness Group Leader for almost five years for her youngest son's Army
battalion. She served on the Executive Board of the Single Mom Foundation and taught a 10-week course called
"The Road to Self Reliance." She currently sits on the Executive Board of Don't Leave Me, which started as a civic
engagement project for college students and brings awareness to the dangers of leaving pets and children in hot
cars.
Donna played a significant role, working with Judge Parascandola and community partners, in getting the
Veteran’s Court established in El Mirage. One of Donna's goals for the City of El Mirage is to partner with not
only our local businesses but with our sister cities around us to build a stronger economy throughout our
community. She would like to utilize these connections to support education, police and fire awareness in our own
neighborhoods to secure a safer, better future for El Mirage citizens.
City Manager – J. Crystal Dyches
City Attorney – Pierce Coleman PLLC
City Clerk – Jill Boltz
City Magistrate – Michael Parascandola
LIST OF APPOINTED CITY OFFICIALS
xiv
FINANCIAL SECTION
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1
Independent Auditors’ Report
The Honorable Mayor and
City Council
El Mirage, Arizona
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities, the business-type activities, each
major fund, and the aggregate remaining fund information of the City of El Mirage, Arizona, (the City) as
of and for the fiscal year ended June 30, 2025, and the related notes to the financial statements, which
collectively comprise the City’s basic financial statements as listed in the table of contents.
In our opinion, the accompanying financial statements present fairly, in all material respects, the
respective financial position of the governmental activities, the business-type activities, each major fund,
and the aggregate remaining fund information of the City of El Mirage, as of June 30, 2025, and the
respective changes in financial position and, where applicable, cash flows thereof for the year then ended
in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards (GAS), issued by the Comptroller General of the United States. Our responsibilities under
those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial
Statements section of our report. We are required to be independent of the City and to meet our other
ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a
going concern for twelve months beyond the financial statement issuance date, including any currently
know information that may raise substantial doubt shortly thereafter.
2
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and
therefore is not a guarantee that an audit conducted in accordance with GAAS and GAS will always
detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting
from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control. Misstatements are considered material
if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment
made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and GAS, we:
x
Exercise professional judgment and maintain professional skepticism throughout the audit.
x
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such
procedures include examining, on a test basis, evidence regarding the amounts and disclosures in
the financial statements.
x
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is
expressed.
x
Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
x
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate,
that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable
period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control–related
matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis, the schedule of the proportionate share of the net pension/OPEB liability, the
schedule of changes in the net pension/OPEB liability and related ratios, the schedule of pension/OPEB
contributions, and budgetary comparison information as listed in the table of contents be presented to
supplement the basic financial statements. Such information, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board, who considers it to be an
essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States
of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management’s responses to our inquiries, the basic
financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited procedures
do not provide us with sufficient evidence to express an opinion or provide any assurance.
3
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City’s basic financial statements. The supplementary budgetary comparison information for
major funds, combining nonmajor fund financial statements, and nonmajor fund budget and actual
schedules are presented for purposes of additional analysis and are not a required part of the basic
financial statements.
The supplementary budgetary comparison information for major funds, combining nonmajor fund
financial statements, and nonmajor fund budget and actual schedules is the responsibility of management
and were derived from and relate directly to the underlying accounting and other records used to prepare
the basic financial statements. The information has been subjected to the auditing procedures applied in
the audit of the basic financial statements and certain additional procedures, including comparing and
reconciling such information directly to the underlying accounting and other records used to prepare the
basic financial statements or to the basic financial statements themselves, and other additional procedures
in accordance with auditing standards generally accepted in the United States of America. In our opinion,
the supplementary budgetary comparison information for major funds, combining nonmajor fund
financial statements and nonmajor fund budget and actual schedules are fairly stated in all material
respects in relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual comprehensive financial
report. The other information comprises the introductory and statistical sections but does not include the
basic financial statements and our auditor's report thereon. Our opinions on the basic financial statements
do not cover the other information, and we do not express an opinion or any form of assurance thereon. In
connection with our audit of the basic financial statements, our responsibility is to read the other
information and consider whether a material inconsistency exists between the other information and the
basic financial statements, or the other information otherwise appears to be materially misstated. If, based
on the work performed, we conclude that an uncorrected material misstatement of the other information
exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated November 4,
2025 on our consideration of the City of El Mirage, Arizona’s internal control over financial reporting
and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements and other matters. The purpose of that report is to describe the scope of our testing of internal
control over financial reporting and compliance and the results of that testing, and not to provide an
opinion on internal control over financial reporting or on compliance. That report is an integral part of an
audit performed in accordance with Government Auditing Standards in considering City of El Mirage,
Arizona’s internal control over financial reporting and compliance.
HintonBurdick, PLLC
Mesa, Arizona
November 4, 2025
4
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5
MANAGEMENT’S DICUSSION AND ANALYSIS
(Required Supplementary Information)
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
6
As management of the City of El Mirage, Arizona (City), we offer readers of the City’s
financial statements this narrative overview and analysis of the financial activities of the City for
the fiscal year ended June 30, 2025. The management’s discussion and analysis is presented as
required supplementary information to supplement the basic financial statements. We encourage
readers to consider the information presented here in conjunction with additional information that
we have furnished in our letter of transmittal, which can be found in the introductory section of
this report.
Financial Highlights
The assets and deferred outflows of resources of the City of El Mirage exceeded its liabilities
and deferred inflows of resources at the close of the most recent fiscal year by $249.7 million
(net position). The unrestricted net position, which represents the amounts available to meet
the City of El Mirage’s ongoing obligations to citizens and creditors, was a surplus of $118.8
million. The City of El Mirage is committed to provide postemployment benefits to its
employees. As a result, the City of El Mirage has recognized liabilities in the financial
statements for these benefits. As of June 30, 2025, the City of El Mirage had liabilities of
$15.1 million for postemployment benefits.
The City’s total net position of governmental activities increased by $21.3 million to $184.5
million. The increase is similar to what was experienced in prior years, as conservatively
estimated budgeted revenues are exceeded because favorable economic conditions continued
while planned expenditures are not incurred to the level budgeted. Business-type activities
increased by $2.9 million to $65.2 million. This is due to similar reasons as governmental
activities as well as some rate increases for services. These represent an increase of 13 percent
and an increase of 5 percent, respectively. The total net position is $249.7 million.
General revenues before transfers from governmental activities accounted for $45.5 million
in revenue, or 75 percent of all revenues from governmental activities. Program specific
revenues in the form of charges for services and grants and contributions accounted for $14.9
million in revenue or 25 percent of total governmental activities. The City had $18.3 million
of program revenues and $1.4 million in other revenues related to business-type activities.
The City had $42.8 million in expenses related to governmental activities, a decrease of 10
percent from the prior fiscal year. A major factor is the reduction in the expenditures ARPA
related funds. The City had $13.1 million in expenses related to business-type activities, very
similar to the prior fiscal year.
Among major funds, the General Fund had $48.4 million in revenues, which primarily
consisted of taxes and intergovernmental revenues. The total expenditures of the General Fund
were $40.2 million. The General Fund’s fund balance increased from $83.6 million to $94.4
million, due primarily to city sales tax collections related to a strong economy and actual
expenditures being less than planned.
The Special Projects (Special Revenue) Fund had $1.5 million in revenues. The total
expenditures of the fund were $1.3 million. The Special Projects Fund’s fund balance
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
7
increased from $1.1 million to $1.3 million, at the end of the current fiscal year due to
decreased expenditures of federal and State grants and an increase in investment earnings.
The Streets (Capital Projects) Fund had $4.5 million in revenues. The total expenditures of
the Streets Fund were $5.5 million. The Streets Fund’s fund balance decreased from $9.4
million to $8.4 million, at the end of the current fiscal year. This is due to planned expenditure
activity utilizing existing fund balance as the resource.
The Water Fund net position increased $1.2 million. The Water Fund had operating revenues
of $11.9 million and operating expenses of $8.4 million. The net position increase of $1.2
million was due to planned revenues exceeding planned expenditures for the year. The plan is
related to long-term utility planning, that includes the accumulation of resources for future
larger maintenance and capital replacement expenses.
The Sewer Fund net position stayed relatively the same at $28.8 million. The Sewer Fund
had operating revenues of $3.9 million and operating expenses of $2.9 million. The increase
in fund balance is due to planned accumulation of resources for larger maintenance and capital
replacement in the future.
Overview of the Financial Statements
This annual report consists of a series of financial statements. The three components of the
financial statements are: (1) Government-wide financial statements which include the Statement
of Net Position and the Statement of Activities. These statements provide information about the
activities of the City as a whole. (2) Fund financial statements tell how these services were
financed in the short term as well as what remains for future spending. Fund financial statements
also report the City’s operations in more detail than the government-wide statements by providing
information about the City’s most significant funds. (3) Notes to the financial statements. This
report also includes supplementary information intended to furnish additional detail to support the
basic financial statements themselves.
Government-Wide Financial Statements: The Statement of Net Position and the Statement
of Activities. A frequently asked question regarding the City’s financial health is whether the
year’s activities contributed positively to the overall financial well-being. The Statement of Net
Position and the Statement of Activities report information about the City as a whole and about its
activities in a way that helps answer this question. These statements include all assets and liabilities
using the accrual basis of accounting, which is like the accounting used by most private-sector
companies. All the current year’s revenues and expenses are accounted for regardless of when cash
is received or paid.
These two statements report the City’s net position and changes in them. Net position, the
difference between assets and liabilities, are one way to measure the City’s financial health, or
financial position. Over time, increases or decreases in net position are an indicator of whether
the financial health is improving or deteriorating. However, it is important to consider other non-
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
8
financial factors such as changes in the City’s property tax base or condition of the City’s roads to
accurately assess the overall health of the City.
The Statement of Net Position and the Statement of Activities present information about the
following:
Government activities – All of the City’s basic services are governmental activities, including
general government, public safety, public works/streets, culture and recreation, and interest on
long-term debt. Sales tax, property tax, federal grants, intergovernmental revenues, and
charges for services finance most of these activities.
Proprietary activities/Business type activities – The City charges a fee to customers that is
intended to cover all the cost of the services provided for water, sewer, and sanitation.
Fund Financial Statements. The fund financial statements provide detailed information about the
most significant funds—not the City as a whole. Some funds are required to be established by
State law and by bond covenants. However, management establishes other funds that aid in the
management of money for specific purposes or to meet legal responsibilities associated with the
usage of certain taxes, grants, and other money. The City’s two major kinds of funds, governmental
and proprietary, use different accounting approaches as explained below.
Governmental funds. Most of the City’s basic services are reported in governmental funds.
Governmental funds focus on how resources flow in and out with the balances remaining at year-
end that are available for spending. These funds are reported using an accounting method called
the modified accrual accounting method, which measures cash and all other financial assets that
can readily be converted to cash. The governmental fund statements provide a detailed short-term
view of the City’s general government operations and the basic services it provides. Government
fund information shows whether there are more or fewer financial resources that can be spent in
the near future to finance the City’s programs. The relationship (or differences) between
governmental activities (reported in the Statement of Net Position and the Statement of Activities)
and governmental funds is described in the reconciliation included with the Basic Financial
Statements and in Note 2.
Proprietary funds. When the City charges customers for the services it provides, these services
are generally reported in proprietary funds. Proprietary funds are reported on the accrual basis of
accounting in the same way that all activities are reported in the Statement of Net Position and the
Statement of Activities.
Notes to the financial statements. The notes provide additional information that is essential to a
full understanding of the data provided in the government-wide and fund financial statements. The
notes to the financial statements can be found immediately following the basic financial
statements.
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
9
Other information. In addition to the basic financial statements and accompanying notes, this
report also presents certain required supplementary information concerning the City’s budget
process and pension plan. The City adopts an annual expenditure budget for all governmental
funds. A schedule of revenues, expenditures, and changes in fund balances – budget and actual has
been provided for the General Fund as required supplementary information. Schedules for the
pension plans have been provided as required supplementary information.
Government-Wide Overall Financial Analysis
Net position may serve over time as a useful indicator of a government’s financial position.
In both governmental and business-type activities, the City’s assets and deferred outflows
exceeded liabilities and deferred inflows by $249.7 million at the end of the current fiscal
year. The City’s governmental activities net position consists of $15.4 million that are
subject to external restrictions on how they are to be used, and $80.1 million of net
investments in capital assets, and $89.0 million of unrestricted fund balance.
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
10
The following table presents a summary of the City’s net position for the fiscal years ended
June 30, 2025, and June 30, 2024.
The largest portion of the City’s net position reflects its investment in capital assets (e.g., land,
buildings, proprietary and governmental infrastructure; vehicles, machinery, equipment, and
construction in progress), less any related outstanding debt used to acquire those assets. The City
uses these capital assets to provide services to its citizens; consequently, these assets are not
available for future spending. Although the City’s investment in its capital assets is reported net
of related outstanding debt, it should be noted that the resources needed to repay this debt must be
provided from other sources, since the capital assets themselves cannot be used to liquidate these
liabilities. See Note 6, Capital Assets, for more information about the City’s capital assets.
The City’s financial position is the product of several financial transactions including the net results
of activities, the payment of debt, the acquisition and disposal of capital assets, and the
depreciation of capital assets. The following are significant current year transactions that had an
impact on the Statement of Net Position:
The addition of $12.5 million in governmental activities total assets, are due to increases
in capital asset spending while revenues remained strong and other expenditures
remained steady.
The reduction of $1.6 million in business-type activities liabilities is mainly due to
principal payments on WIFA loans.
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
11
Changes in Net Position
The City’s programs include General Government, Public Safety, Public Works/Streets, Water,
Sewer, and Sanitation. Each programs’ net cost (total cost less revenues generated by the
activities) is presented below.
Capital grants and contributions related to governmental activities decreased by $7.0
million, due to decreases in grants for capital purchases and contributions. This is due to
covid relief no longer continuing to be recognized to the extent it was in prior periods.
Operating grants and contributions related to governmental activities increased by $.5
million due to decreases in HURF funding available and investment income.
Business-type activities revenues remained the same but charges for service increased by
5 percent due primarily to rate changes.
Federal and State grants, and charges for services subsidized certain governmental
programs with revenues of $4.5 million and $9.6 million respectively. The increases are
due to increased commercial development, and a strong economy.
6/30/2025
6/30/2024
6/30/2025
6/30/2024
6/30/2025
6/30/2024
Revenues
Program revenues
Charges for Services
9,611,430
$
5,629,607
$
18,199,487
$
17,200,401
$
27,810,917
22,830,008
$
Operating grants and contributions
4,493,319
3,983,447
67,620
30,000
4,560,939
4,013,447
Capital grants and contributions
826,045
7,799,205
-
-
826,045
7,799,205
General revenues
Property taxes
4,877,757
4,773,268
-
-
4,877,757
4,773,268
City sales tax
19,576,235
20,210,056
-
-
19,576,235
20,210,056
Franchise tax
1,237,374
1,103,749
-
-
1,237,374
1,103,749
Unrestricted state revenues
15,087,745
16,830,318
-
-
15,087,745
16,830,318
Investment income
Interest earnings
4,693,330
4,824,968
1,357,742
1,397,461
6,051,072
6,222,429
Miscellaneous
-
3,332,603
-
1,052,962
-
4,385,565
Total revenues
60,403,235
$
68,487,221
$
19,624,849
$
19,680,824
$
80,028,084
$
88,168,045
$
City of El Mirage
Condensed Statement of Changes in Net Position
Governmental Activities
Business-type Activities
Total Primary Government
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
12
Governmental and Business-type activities
The following table presents the cost of the City’s functional activities. The table also shows each
function’s net cost (total cost less charges for services generated by the activities and
intergovernmental aid provided for specific programs). The net cost shows the financial burden
that was placed on the State and City’s taxpayers by each of these functions.
Governmental activities expense decreased $4.4 million or 11 percent primarily due to
decreases in general government and public safety. A significant source of those
decreases is due to the previous years’ expenditure of covid relief funds, with fewer
remaining covid relief funds to expend.
Net cost of governmental activities of $27.9 million was financed by general revenues,
which are primarily local sales taxes, property taxes, charges for services, unrestricted
and miscellaneous revenues, totaling $45.5 million.
The cost of providing all Proprietary (Business Type) activities this year was $13.0
million; this was very similar to the prior year of $13.2 million. The difference is
attributable to less heavy maintenance expenses compared to the previous year. The
amounts paid by users of the system were $18.2 million. Interest earnings, capital grants
and contributions, and miscellaneous revenues were $1.4 million.
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
13
Financial Analysis of Governmental Funds
As noted earlier, the City of El Mirage uses fund accounting to ensure and demonstrate compliance
with finance-related legal requirements.
Governmental funds. The focus of the City of El Mirage’s governmental funds is to provide
information on near-term inflows, outflows, and balances of spendable resources. Such
information is useful in assessing the City of El Mirage’s financing requirements. In particular,
unassigned fund balance may serve as a useful measure of a government’s net resources available
for spending at the end of the fiscal year. See the Balance Sheet for Governmental Funds statement
for information about components of the fiscal year’s ending fund balance for governmental funds.
As of the end of the current fiscal year, the City of El Mirage’s governmental funds reported
combined ending fund balances of $111.0 million, an increase of $11.5 million or 12 percent,
compared to the prior fiscal year. The change is primarily due to planned revenues exceeding
planned expenditures and a strong economy. Both revenues and expenditures are determined on a
conservative basis and some resources are being accumulated for future one time maintenance and
capital replacement.
Approximately 85 percent of the combined ending fund balances of $111 million, or $94.3 million,
constitutes unassigned fund balance which is available for new spending at the government’s
discretion. The $94.3 million combined unassigned fund balance includes $13.0 million
established as a General Fund reserve. The remaining combined fund balance is non-spendable,
restricted, committed or assigned in accordance with GASB 54.
Analysis of Individual Funds. General Fund is the chief operating fund of the City of El Mirage.
At the end of the current fiscal year, unassigned fund balance in the General Fund was $94.3
million, while total General Fund balance was $94.4 million. As a measure of the General Fund’s
liquidity, it may be useful to compare both unassigned fund balance and total fund balance to total
General Fund expenditures. The General Fund unassigned fund balance represents 235 percent of
total General Fund expenditures while total fund balance represents 235 percent of the same
amount. During the year the City of El Mirage’s General Fund balance increased by $10.8 million.
This increase in fund balance is primarily attributable to planned revenues and planned
expenditures result in the accumulation of resources for future purposes.
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
14
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
15
The Special Projects (Special Revenue) Fund has a total fund balance of $1.3 million, all of which
is restricted for special projects and grants per state and federal directives. The revenues and
expenditures increase and decrease mostly based on available funding from outside sources. In
the last 3 years, revenues and expenditures were mostly based on the recognition and use of covid
related revenues.
The Streets (Capital Projects) Fund has a total fund balance of $8.4 million, a decrease of $1.0
million from the prior year, all of which is assigned for road and street construction and
improvements.
General Fund Budgetary Highlights
Tax revenues have a positive variance of $3.6 million that is stronger than budgeted City sales tax
collections. This is an indication of stronger than expected sales. See the sales data provided in the
statistical section of this report (Taxable Sales by Category). Charges for licenses and permits had
a variance of $2.1 million as construction related fees were greater than projected. Charges for
services revenues had a positive variance of $0.1 million, this is based on better-than-expected
level of commercial activity and spending by local businesses and residents. Total revenues have
a positive variance of $9.3 million or 24 percent great than budgeted. General Fund expenditures
were $39.0 million or 23 percent less than budgeted with the most significant positive variances
in the following areas:
In the Non-departmental category, total spending was $5.9 million less or 47 percent less
than budget due to special project savings and the fact that contingent amounts budgeted
for unseen events were not needed.
Parks and recreation spending was $2.4 million, $2.4 million less than budgeted. This is
due to budgeted increase in the size of the parks and recreation program.
Capital Asset And Debt Administration
Capital Assets. The capital assets of the City are those assets that are used in performance of City
functions including land, construction in progress, system improvements, buildings,
improvements, machinery, vehicles, equipment, and infrastructure/roads. Combined depreciation
expense of $7.4 million on capital assets is recognized in the Government-Wide financial
statements. The following schedule presents capital asset balances for the fiscal years ended June
30, 2025, and 2024.
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
16
The most significant increase in governmental capital assets $18.9 million is related to
infrastructure, mostly due to the completion of the Dysart Road improvements.
The most significant increase in business type capital assets $2.8 million is related to
mostly to a completed Water and Wastewater building for administrative offices.
Additional information regarding the City’s capital assets can be found in Note 6.
Long-Term Debt
At year-end, the City had $15.5 million in governmental-type bond debt, and $11.1 million in
business-type direct borrowing debt. The debt is a liability of the government and amounts to
approximately $704 per person (estimated population 36,958). During the current fiscal year, the
City’s direct borrowing (bonds/WIFA loans) had a net decrease of $3.1 million. The following
schedule presents outstanding long-term debt for the fiscal years ended June 30, 2025, and 2024.
The Arizona Constitution and State Statues limit a municipality’s bonded debt capacity to certain
percentages of its net full cash assessed valuation and by the type of project to be constructed with
general obligation (GO) bonds. For projects involving water, wastewater, artificial lighting, parks,
open space, recreational facility improvements, streets, public safety, and fire and emergency
facilities, the City can issue GO bonds up to 20 percent of its net full cash assessed valuation. For
any other general-purpose improvements, the City may issue bonds up to 6 percent of its net full
cash assessed valuation. As demonstrated in the Statistical Section – Legal Debt Margin
Information, the City’s debt limit at year-end for State purposes was $26.9 million in the 6 percent
capacity and $89.8 million in the 20 percent capacity. The City has no G.O. debt applicable to the
6 percent limit and $13.9 million of debt applicable to the 20 percent limit. The limits do not apply
to $1.6 million of bond premium.
Additional information regarding the City’s long-term debt can be found in Note 7.
CITY OF EL MIRAGE, ARIZONA
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the Year Ended June 30, 2025
17
Next Year’s Budget And Economic Factors and Rates
The City of El Mirage is projecting that growth will slow for the coming year. However, the City’s
proximity to Phoenix and major road and rail networks provides tremendous opportunity for future
commercial growth. Specific economic factors that were considered in developing the 2025-2026
budget are:
Changes to the sanitation rate structures will increase relative revenues
An increase in actual construction related fee revenues due to increased commercial
development
Projected reduction in actual grant revenues due to funding at the Federal level
A projected reduction in State shared revenues
Increase in operating costs due to inflation of 3%
Increase personnel costs of 7.5% due to pay and benefits
Increased capital outlay based on increased demands for services
Requests for Information
This financial report is designed to provide our citizens, taxpayers, customers, investors, and
creditors with a general overview of the City’s finances and to show the City’s accountability for
the resources it receives. If you have questions about this report or need additional financial
information, contact the City’s Finance Department, City of El Mirage, 10000 N. El Mirage Road,
El Mirage, Arizona 85335.
18
BASIC FINANCIAL STATEMENTS
CITY OF EL MIRAGE, ARIZONA
Statement of Net Position
June 30, 2025
The accompanying notes are an integral part of the financial statements.
19
Governmental
Business-type
Activities
Activities
Total
Assets
Cash and cash equivalents
110,799,098
$
31,890,014
$
142,689,112
$
Receivables, net of allowances
3,959,973
1,756,354
5,716,327
Prepaid items
18,431
-
18,431
Inventory
-
8,576,330
8,576,330
Net pension/OPEB asset
562,932
75,723
638,655
Capital assets (net of accumulated depreciation)
Land
13,075,024
921,620
13,996,644
Construction in progress
331,899
1,463,989
1,795,888
System improvements
-
29,117,619
29,117,619
Buildings
23,436,397
5,104,737
28,541,134
Improvements
2,106,580
1,018,070
3,124,650
Machinery, vehicles, and equipment
4,455,926
1,427,036
5,882,962
Right-to-use lease assets
-
85,809
85,809
Right-to-use subscription assets
754,280
-
754,280
Infrastructure/Roads
52,079,043
-
52,079,043
Total assets
211,579,583
81,437,301
293,016,884
Deferred Outflows of Resources
Deferred outflows related to pensions/OPEB
9,960,862
475,617
10,436,479
Deferred charge on refunding
146,450
-
146,450
Total deferred outflows
10,107,312
475,617
10,582,929
Liabilities
Accounts payable and other current liabilities
1,668,445
2,939,625
4,608,070
Interest payable
-
121,222
121,222
Unearned revenues
1,080,127
-
1,080,127
Due to other governments
39,239
-
39,239
Noncurrent liabilities:
Due within one year
2,536,148
1,620,055
4,156,203
Due in more than one year
15,210,818
9,813,818
25,024,636
Net pension/OPEB liabilities
12,984,536
2,055,723
15,040,259
Total liabilities
33,519,313
16,550,443
50,069,756
Deferred Inflows of Resources
Deferred inflows related to pensions/OPEB
2,731,459
162,093
2,893,552
Deferred inflows related to leases
916,785
-
916,785
Total deferred inflows
3,648,244
162,093
3,810,337
Net Position
Net investment in capital assets
80,099,620
35,459,473
115,559,093
Restricted for:
Debt service
823,169
-
823,169
Streets projects
13,242,341
-
13,242,341
Court and police programs
68,783
-
68,783
Special projects
1,276,675
-
1,276,675
Unrestricted
89,008,750
29,740,909
118,749,659
Total net position
184,519,338
$
65,200,382
$
249,719,720
$
CITY OF EL MIRAGE, ARIZONA
Statement of Activities
For the Year Ended June 30, 2025
The accompanying notes are an integral part of the financial statements.
20
Governmental
Business-type
Functions/Programs
Expenses
Activities
Activities
Total
Governmental activities:
General government
18,166,508
$
4,920,252
$
508,564
$
-
$
(12,737,692)
$
-
$
(12,737,692)
$
Public safety
19,199,471
682,940
1,054,667
6,045
(17,455,819)
-
(17,455,819)
Highways and streets
4,880,421
4,008,238
2,930,088
820,000
2,877,905
-
2,877,905
Interest on long-term debt
568,091
-
-
-
(568,091)
-
(568,091)
Total governmental activities
42,814,491
9,611,430
4,493,319
826,045
(27,883,697)
-
(27,883,697)
Business-type activities:
Water
8,451,257
11,851,110
67,620
-
-
3,467,473
3,467,473
Sewer
2,941,465
3,877,820
-
-
-
936,355
936,355
Sanitation
1,653,309
2,470,557
-
-
-
817,248
817,248
Total business-type activities
13,046,031
18,199,487
67,620
-
-
5,221,076
5,221,076
Total primary government
55,860,522
$
27,810,917
$
4,560,939
$
826,045
$
General Revenues:
Taxes:
City sales tax
19,576,235
-
19,576,235
Franchise tax
1,237,374
-
1,237,374
Property tax, levied for general purposes
2,953,758
-
2,953,758
Property tax, levied for debt purposes
1,923,999
-
1,923,999
Unrestricted state revenues
15,087,745
-
15,087,745
Unrestricted investment earnings
4,693,330
1,357,742
6,051,072
Transfers
3,685,000
(3,685,000)
-
Total general revenues & transfers
49,157,441
(2,327,258)
46,830,183
Change in net position
21,273,744
2,893,818
24,167,562
Net position - beginning
163,245,594
62,306,564
225,552,158
Net position - ending
184,519,338
$
65,200,382
$
249,719,720
$
Program Revenues
Net (Expense) Revenue and
Changes in Net Position
Operating
Grants &
Contributions
Capital
Grants &
Contributions
Charges for
Services
CITY OF EL MIRAGE, ARIZONA
Balance Sheet
Governmental Funds
June 30, 2025
The accompanying notes are an integral part of the financial statements.
21
Non-major
Total
Special Projects
Streets
Governmental
Governmental
General
(Special Revenue)
(Capital Projects)
Funds
Funds
ASSETS
Cash and cash equivalents
93,500,653
$
2,170,500
$
8,405,450
$
6,722,495
$
110,799,098
$
Receivables:
Taxes
114,415
-
-
63,105
177,520
Intergovernmental
1,950,232
81,939
-
292,926
2,325,097
Leases
971,092
-
-
-
971,092
Other
454,152
32,112
-
-
486,264
Due from other funds
10,893
-
-
-
10,893
Prepaid items
18,431
-
-
-
18,431
Total assets
97,019,868
$
2,284,551
$
8,405,450
$
7,078,526
$
114,788,395
$
LIABILITIES
Accounts payable
743,151
$
6,376
$
-
$
131,811
$
881,338
$
Accrued wages and benefits
717,572
-
-
10,447
728,019
Deposits held
57,775
-
-
1,313
59,088
Due to other governments
37,739
1,500
-
-
39,239
Due to other funds
-
-
-
10,893
10,893
Unearned revenue
80,127
1,000,000
-
-
1,080,127
Total liabilities
1,636,364
1,007,876
-
154,464
2,798,704
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue-property taxes
68,891
-
-
34,384
103,275
Deferred inflows related to leases
916,785
-
-
-
916,785
Total deferred inflows of resources
985,676
-
-
34,384
1,020,060
FUND BALANCES
Nonspendable:
Prepaid items
18,431
-
-
-
18,431
Restricted:
Public safety
-
-
-
68,783
68,783
Public works/streets
-
-
8,405,450
4,836,891
13,242,341
Special projects
-
1,276,675
-
-
1,276,675
Debt service
-
-
-
823,169
823,169
Committed:
Court and police programs
-
-
-
1,160,835
1,160,835
Assigned:
Court and police programs
71,944
-
-
-
71,944
Unassigned
94,307,453
-
-
-
94,307,453
Total fund balances
94,397,828
1,276,675
8,405,450
6,889,678
110,969,631
Total liabilities, deferred inflows of resources,
and fund balances
97,019,868
$
2,284,551
$
8,405,450
$
7,078,526
$
114,788,395
$
CITY OF EL MIRAGE, ARIZONA
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Position of Governmental Activities
June 30, 2025
The accompanying notes are an integral part of the financial statements.
22
Total governmental fund balances
110,969,631
$
Amounts reported for governmental activities in the
statement of net position are different because:
Capital assets used in governmental activities are not financial
resources and, therefore, are not reported in the funds.
Governmental capital assets
143,211,294
$
Less accumulated depreciation
(46,972,145)
96,239,149
Net OPEB asset is not an available resource and, therefore
is not reported in the funds.
562,932
Some liabilities, including net pension and OPEB liabilities,
bonds payable, and leases, are not due and payable in the
current period and therefore are not reported in the funds.
Compensated absences
(1,460,987)
$
Net pension/OPEB liability
(12,984,536)
Subscription liability
(754,280)
Bonds payable
(13,900,000)
Bond premiums
(1,631,699)
(30,731,502)
Property tax receivables are not available to pay for current period
expenditures and, therefore, are reported as unavailable
revenues in the funds
103,275
Deferred items related to the net cost of issuance of bonds
are amortized over the life of the associated bond issue
in the government-wide statements but not reported in the funds
146,450
Deferred outflows and inflows of resources related to pensions
and OPEB are applicable to future reporting periods and,
therefore, are not reported in the funds.
Deferred outflows
9,960,862
$
Deferred inflows
(2,731,459)
7,229,403
Total net position of governmental activities
184,519,338
$
CITY OF EL MIRAGE, ARIZONA
Statement of Revenues, Expenditures, and Changes in Fund Balances
Governmental Funds
For the Year Ended June 30, 2025
The accompanying notes are an integral part of the financial statements.
23
Non-major
Total
Special Projects
Streets
Governmental
Governmental
REVENUES
General
(Special Revenue) (Capital Projects)
Funds
Funds
Property taxes
2,998,595
$
-
$
-
$
1,889,615
$
4,888,210
$
City sales taxes
19,576,235
-
-
-
19,576,235
Franchise taxes
1,237,374
-
-
-
1,237,374
Licenses, permits and fees
3,040,847
-
-
-
3,040,847
Intergovernmental revenue
15,206,201
1,430,688
4,008,238
3,750,088
24,395,215
Charges for services
424,578
-
-
-
424,578
Fees
1,422,062
-
-
-
1,422,062
Fines and forfeitures
370,010
-
-
103,359
473,369
Investment earnings
3,923,371
62,078
440,117
267,764
4,693,330
Other revenues
243,148
19,320
-
-
262,468
Total revenues
48,442,421
1,512,086
4,448,355
6,010,826
60,413,688
EXPENDITURES
Current:
General government
16,435,684
10,025
-
-
16,445,709
Public safety
20,648,179
1,207,834
-
39,899
21,895,912
Public works/streets
-
-
-
3,270,218
3,270,218
Capital outlay
2,704,310
123,778
5,487,545
1,207,017
9,522,650
Debt service
Principal
368,999
-
-
1,380,000
1,748,999
Interest and fiscal charges
33,901
-
-
650,925
684,826
Total expenditures
40,191,073
1,341,637
5,487,545
6,548,059
53,568,314
Excess (deficiency) of revenues
over (under) expenditures
8,251,348
170,449
(1,039,190)
(537,233)
6,845,374
OTHER FINANCING
SOURCES (USES)
Debt issued
25,543
-
25,543
Sale of assets
42,741
-
-
-
42,741
Transfers out
(2,002,000)
-
-
-
(2,002,000)
Transfers in
4,510,000
-
-
2,002,000
6,512,000
Total other financing
sources (uses)
2,576,284
-
-
2,002,000
4,578,284
Net change in fund balances
10,827,632
170,449
(1,039,190)
1,464,767
11,423,658
Fund balances, beginning of year
83,570,196
1,106,226
9,444,640
5,424,911
99,545,973
Fund balances, end of year
94,397,828
$
1,276,675
$
8,405,450
$
6,889,678
$
110,969,631
$
CITY OF EL MIRAGE, ARIZONA
Reconciliation of the Statement of Revenues,
Expenditures, and Changes in Fund Balances of Governmental Funds
to the Statement of Activities
For the Year Ended June 30, 2025
The accompanying notes are an integral part of the financial statements.
24
Amounts reported for governmental activities in the statement of activities are
different because:
Net change in fund balances - total governmental funds
11,423,658
$
Governmental funds report capital outlays as expenditures. However, in the
statement of activities, the costs of those assets are allocated over their
estimated useful lives and reported as depreciation/amortization expense.
This is the difference between depreciation expense and capital outlay in the
current period.
Capital outlay
9,522,650
$
Depreciation/amortization expense
(4,497,279)
5,025,371
The net effect of various miscellaneous transactions involving capital assets
(i.e., disposals and transfers) is to decrease net position.
(931,792)
Property tax revenues in the Statement of Activities that do not provide
current financial resources are not reported as revenues in the funds.
(10,453)
Governmental funds report the effect of premiums, discounts, and other similar
items when debt is first issued, whereas these items are deferred and amortized
over the term of the long-term debt in the Statement of Activities.
Amortization of bond premium
165,553
Amortization of deferred charge on refunding
(48,818)
116,735
The issuance of long-term debt (e.g., bonds, leases) provides current financial
resources in the governmental funds but increases long-term liabilities in the
Statement of Net Position.
Subscription-based information technology arrangements incurred
(25,543)
(25,543)
Repayment of long-term debt (e.g., bonds, leases) principal is an expenditure
in the governmental funds, but the repayment reduces long-term liabilities in the
Statement of Net Position.
Subscription-based information technology arrangements payments
368,999
Bond principal retirement
1,380,000
1,748,999
Pension/OPEB contributions are reported as expenditures in the governmental
funds when made. However, they are reported as deferred outflows of
resources in the Statement of Net Position because the net pension/OPEB
liability is measured a year before the City's report date. Pension/OPEB
expense, which is the change in the net pension liability/OPEB adjusted
for changes in deferred outflows and inflows of resources related to
pensions/OPEB, is reported in the Statement of Activities.
Pension/OPEB contributions
6,726,988
$
Pension/OPEB expense
(2,694,149)
4,032,839
Compensated absences expenses reported in the Statement of Activities do not
(106,070)
Change in net position of governmental activities
21,273,744
$
require the use of current financial resources and therefore are not reported as
expenditures in governmental funds.
CITY OF EL MIRAGE, ARIZONA
Statement of Net Position
Proprietary Funds
June 30, 2025
The accompanying notes are an integral part of the financial statements.
25
(Nonmajor)
ASSETS
Water
Sewer
Sanitation
Totals
Current Assets:
Cash
20,425,333
$
8,705,928
$
2,758,753
$
31,890,014
$
Receivables, net of allowance
1,215,029
311,638
214,687
1,741,354
Due from other governments
15,000
-
-
15,000
Inventories
8,576,330
-
-
8,576,330
Total current assets
30,231,692
9,017,566
2,973,440
42,222,698
Noncurrent Assets:
Net OPEB asset
53,730
21,993
-
75,723
Land
129,769
791,851
-
921,620
Construction in progress
468,084
995,905
-
1,463,989
System improvements
39,312,117
34,442,161
-
73,754,278
Land improvements
3,935,152
2,057,663
-
5,992,815
Buildings and improvements
3,762,648
2,711,304
-
6,473,952
Equipment and vehicles
2,687,122
2,464,038
-
5,151,160
Right-of-use assets
106,968
-
-
106,968
Accumulated depreciation and amortization
(32,048,923)
(22,676,979)
-
(54,725,902)
Total noncurrent assets
18,406,667
20,807,936
-
39,214,603
Total Assets
48,638,359
29,825,502
2,973,440
81,437,301
Deferred Outflows of Resources
Deferred outflows related to pensions/OPEB
337,482
138,135
-
475,617
Total deferred outflows of resources
337,482
138,135
-
475,617
LIABILITIES
Current liabilities:
Accounts payable
524,554
171,451
135,057
831,062
Accrued wages and benefits
55,312
20,759
-
76,071
Interest payable
117,833
3,389
-
121,222
Customer deposits
2,032,492
-
-
2,032,492
Compensated absences - current portion
74,738
35,832
-
110,570
Lease payable - current portion
5,108
-
-
5,108
Loans payable - current portion
1,476,963
27,414
-
1,504,377
Total current liabilities
4,287,000
258,845
135,057
4,680,902
Noncurrent liabilities:
Compensated absences
61,100
29,185
-
90,285
Leases payable, net of current portion
89,086
-
-
89,086
Loans payable, net of current portion
9,419,812
214,635
-
9,634,447
Net pension/OPEB liabilities
1,458,676
597,047
-
2,055,723
Total noncurrent liabilities
11,028,674
840,867
-
11,869,541
Total liabilities
15,315,674
1,099,712
135,057
16,550,443
Deferred Inflows of Resources
Deferred inflows related to pensions/OPEB
115,016
47,077
-
162,093
NET POSITION
Net investment in capital assets
14,915,579
20,543,894
-
35,459,473
Unrestricted
18,629,572
8,272,954
2,838,383
29,740,909
Total net position
33,545,151
$
28,816,848
$
2,838,383
$
65,200,382
$
Business-type Activities - Enterprise Funds
CITY OF EL MIRAGE, ARIZONA
Statement of Revenues, Expenses, and Changes in Net Position
Proprietary Funds
For the Year Ended June 30, 2025
The accompanying notes are an integral part of the financial statements.
26
(Nonmajor)
Operating Revenues
Water
Sewer
Sanitation
Totals
Charges for services
11,694,857
$
3,877,820
$
2,470,557
$
18,043,234
$
Other revenues
156,253
-
-
156,253
Total operating revenues
11,851,110
3,877,820
2,470,557
18,199,487
Operating Expenses
Cost of sales and services
4,082,066
1,174,298
1,621,309
6,877,673
Salaries and benefits
2,483,258
667,915
32,000
3,183,173
Depreciation
1,813,719
1,096,105
-
2,909,824
Total operating expenses
8,379,043
2,938,318
1,653,309
12,970,670
Operating income
3,472,067
939,502
817,248
5,228,817
Non-operating Revenues (Expenses)
Interest income
841,945
407,173
108,624
1,357,742
Grant revenue
67,620
-
-
67,620
Interest expense and fiscal charges
(72,214)
(3,147)
-
(75,361)
Total non-operating
revenue (expense)
837,351
404,026
108,624
1,350,001
Income (loss) before contributions
and transfers
4,309,418
1,343,528
925,872
6,578,818
Capital contributions
-
825,000
-
825,000
Transfers out
(3,361,000)
(2,400,000)
(357,000)
(6,118,000)
Transfers in
214,000
1,394,000
-
1,608,000
Change in net position
1,162,418
1,162,528
568,872
2,893,818
Total net position, beginning of year
32,382,733
27,654,320
2,269,511
62,306,564
Total net position, end of year
33,545,151
$
28,816,848
$
2,838,383
$
65,200,382
$
Business-type Activities - Enterprise Funds
CITY OF EL MIRAGE, ARIZONA
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2025
The accompanying notes are an integral part of the financial statements.
27
(Nonmajor)
Water
Sewer
Sanitation
Totals
Cash Flows From Operating Activities:
Cash received from customers, service fees
11,538,661
$
3,916,803
$
2,466,552
$
17,922,016
$
Cash received from customers, other
161,188
-
-
161,188
Cash paid to suppliers
(3,042,755)
(1,331,798)
(1,601,454)
(5,976,007)
Cash paid to employees
(2,200,013)
(813,327)
(32,000)
(3,045,340)
Cash flows from operating activities
6,457,081
1,771,678
833,098
9,061,857
Cash Flows From Noncapital
Financing Activities:
Transfers to other funds
(3,361,000)
(2,400,000)
(357,000)
(6,118,000)
Transfers from other funds
214,000
1,394,000
-
1,608,000
Proceeds from grants
67,620
-
-
67,620
Cash flows from noncapital
financing activities
(3,079,380)
(1,006,000)
(357,000)
(4,442,380)
Cash Flows From Capital and Related
Financing Activities:
Purchase of capital assets
(1,329,280)
(1,424,916)
-
(2,754,196)
Principal paid on loans
(1,553,549)
(26,667)
-
(1,580,216)
Interest paid
(93,007)
(3,520)
-
(96,527)
Cash flows from capital and related
financing activities
(2,975,836)
(1,455,103)
-
(4,430,939)
Cash Flows From Investing Activities:
Interest on investments
841,945
407,173
108,624
1,357,742
Net change in cash and cash equivalents
1,243,810
(282,252)
584,722
1,546,280
Cash and cash equivalents, including
temporarily restricted cash, beginning of year
19,181,523
8,988,180
2,174,031
30,343,734
Cash and cash equivalents, including
temporarily restricted cash, end of year
20,425,333
$
8,705,928
$
2,758,753
$
31,890,014
$
Reconciliation of operating income to net
cash flows from operating activities:
Net operating income
3,472,067
$
939,502
$
817,248
$
5,228,817
$
Adjustments to reconcile operating income
to net cash flows from operating activities:
Depreciation
1,813,719
1,096,105
-
2,909,824
Pension/OPEB expense
400,608
(107,405)
-
293,203
Employer pension/OPEB contributions
(173,900)
(71,179)
-
(245,079)
Changes in operating assets and liabilities:
(Increase) decrease in receivables
(156,196)
38,983
(4,005)
(121,218)
(Increase) decrease in inventory
949,611
-
-
949,611
Increase (decrease) in accounts payable
89,700
(157,500)
19,855
(47,945)
17,519
7,174
-
24,693
Increase (decrease) in compensated absences
39,018
25,998
-
65,016
Increase (decrease) in customer deposits
4,935
-
-
4,935
Net cash flows from operating activities
6,457,081
$
1,771,678
$
833,098
$
9,061,857
$
Supplemental Schedule of Non-cash
Financing and Investing Activities:
Contributions of capital assets
-
$
825,000
$
-
$
825,000
$
Business-type Activities - Enterprise Funds
Increase (decrease) in accrued payroll and
employee benefits
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
28
Note 1.
Summary of Significant Accounting Policies
The financial statements of the City of El Mirage, Arizona (the City) have been prepared in conformity
with accounting principles generally accepted in the United States of America as applied to government
units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for
establishing governmental accounting and financial reporting principles.
Description of government-wide financial statements
The government-wide financial statements (i.e., the statement of net position and the statement of
activities) report information on all of the nonfiduciary activities of the primary government and its
component units. All fiduciary activities are reported only in the fund financial statements. Governmental
activities, which normally are supported by taxes, intergovernmental revenues, and other nonexchange
transactions, are reported separately from business-type activities, which rely to a significant extent on fees
and charges to external customers for support. Likewise, when applicable, the primary government is
reported separately from certain legally separate component units for which the primary government is
financially accountable.
Reporting entity
The City is a municipal entity governed by an elected mayor and council. As required by accounting
principles generally accepted in the United States of America, these financial statements present the City
and its component units, entities for which the City is considered to be financially accountable. Blended
component units, although legally separate entities, are, in substance, part of the City’s operations and so
data from these units are combined with data of the City, the primary government.
The financial reporting entity consists of a primary government and its component units. A component
unit is a legally separate entity that must be included in the reporting entity in conformity with generally
accepted accounting principles. The City is a primary government that has a separately elected governing
body, is legally separate, and is fiscally independent of other state or local governments. Furthermore,
component units combined with the City for financial statement presentation purposes, and the City, are
not included in any other governmental reporting entity. Consequently, the City’s financial statements
include the funds of those organizational entities for which its elected governing body is financially
accountable.
Basis of presentation – government-wide financial statements
While separate government-wide and fund financial statements are presented, they are interrelated. The
governmental activities column incorporates data from governmental funds and internal service funds,
while business-type activities incorporate data from the City’s enterprise funds. Separate financial
statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the
latter are excluded from the government-wide financial statements.
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial
statements. Exceptions to this general rule are charges between the government’s water and wastewater
functions and various other functions of the government. Elimination of these charges would distort the
direct costs and program revenues reported for the various functions concerned.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
29
Note 1.
Summary of Significant Accounting Policies, Continued
Basis of presentation – fund financial statements
The fund financial statements provide information about the City’s funds, including its fiduciary funds and
blended component units. Separate statements for each fund category—governmental, proprietary, and
fiduciary—are presented. The emphasis of fund financial statements is on major governmental and
enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are
aggregated and reported as nonmajor funds. Major individual governmental and enterprise funds are
reported as separate columns in the fund financial statements.
The City reports the following major governmental funds:
The General Fund is the City’s primary operating fund. It accounts for all financial resources of
the general government, except for those accounted for in another fund.
The Special Projects Fund is used to account for the funding for various City special projects.
The Streets (Capital Projects) Fund is used to account for the City’s construction and
acquisition of streets and street department facilities.
The City reports the following major enterprise funds:
The Water Fund accounts for the activities of pumping, treating and distribution of water.
The Sewer Fund account for the activities of sewer collection and treatment.
The Sanitation Fund is a nonmajor enterprise fund and it accounts for the collection of solid waste and
related services.
During the course of operations the City has activity between funds for various purposes. Any residual
balances outstanding at year end are reported as due from/to other funds and advances to/from other
funds. While these balances are reported in fund financial statements, certain eliminations are made in the
preparation of the government-wide financial statements. Balances between the funds included in
governmental activities (i.e., the governmental and internal service funds) are eliminated so that only the
net amount is included as internal balances in the governmental activities column. Similarly, balances
between the funds included in business-type activities (i.e., the enterprise funds) are eliminated so that only
the net amount is included as internal balances in the business-type activities column.
Further, certain activity occurs during the year involving transfers of resources between funds. In fund
financial statements these amounts are reported at gross amounts as transfers in/out. While reported in
fund financial statements, certain eliminations are made in the preparation of the government-wide
financial statements. Transfers between the funds included in governmental activities are eliminated so
that only the net amount is included as transfers in the governmental activities column. Similarly,
balances between the funds included in business-type activities are eliminated so that only the net amount
is included as internal balances in the business-type activities column.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
30
Note 1.
Summary of Significant Accounting Policies, Continued
Measurement focus and basis of accounting
The accounting and financial reporting treatment is determined by the applicable measurement focus and
basis of accounting. Measurement focus indicates the type of resources being measured such as current
financial resources or economic resources. The basis of accounting indicates the timing of transactions or
events for recognition in the financial statements.
The government-wide financial statements are reported using the economic resources measurement focus
and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when
a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as
revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon
as all eligibility requirements imposed by the provider have been met.
The governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as
they are both measurable and available. Revenues are considered to be available when they are collectible
within the current period or soon enough thereafter to pay liabilities of the current period. For this
purpose, the City considers revenues to be available if they are collected within 60 days of the end of the
current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual
accounting. However, debt service expenditures, as well as expenditures related to compensated absences,
and claims and judgments, are recorded only when payment is due. General capital asset acquisitions are
reported as expenditures in governmental funds. Issuance of long-term debt and acquisitions under lease
contracts and subscription-based information technology arrangements are reported as other financing
sources.
Property taxes, sales taxes, state shared revenues, licenses, and interest associated with the current fiscal
period are all considered to be susceptible to accrual and so have been recognized as revenues of the
current fiscal period. Entitlements are recorded as revenues when all eligibility requirements are met,
including any time requirements, and the amount is received during the period or within the availability
period for this revenue source (within 60 days of year-end). Expenditure-driven grants are recognized as
revenue when the qualifying expenditures have been incurred and all other eligibility requirements have
been met, and the amount is received during the period or within the availability period for this revenue
source (within 60 days of year-end). All other revenue items are considered to be measurable and
available only when cash is received by the City.
The proprietary funds are reported using the economic resources measurement focus and the accrual
basis of accounting.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
31
Note 1.
Summary of Significant Accounting Policies, Continued
Assets, liabilities, deferred outflows/inflows of resources, and net position/fund balance
Deposits and investments
Cash includes cash on hand, demand deposits with banks and other financial institutions, deposits in other
types of accounts or cash management pools that have the general characteristics of demand deposit
accounts and short-term investments with original maturities of three months or less from the date of
acquisition. The City's policy allows for the investment of funds in time certificates of deposit with
federally insured depositories, investment in the state treasurer's pool, obligations of the U. S.
Government and other investments as allowed by Arizona State Statutes.
Nonparticipating interest-earning investment contracts are stated at cost. Money market investments and
participating interest investment contracts with a remaining maturity of one year or less at time of
purchase are stated at amortized cost. All other investments are stated at fair value. The reported value of
the state treasurer’s pool is the same as the fair value of the pools shares.
Receivables and payables
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end
of the fiscal year are referred to as “Internal balances” in the Statement of Net Position and as “Due to” or
“Due from” other funds in the fund financial statements. All trade accounts receivable in the General
Fund and proprietary funds are shown net of an allowance for doubtful accounts.
Inventories and prepaid items
The costs of governmental fund-type inventories are recorded as expenditures when purchased rather than
when consumed. Inventories for the proprietary funds consist of water credits purchased and held for
future consumption. Inventories of materials used in the repair of the distribution, collection and treatment
systems and are not deemed material and have not been reported.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as
prepaid items in both the government-wide and fund financial statements. The cost of prepaid items is
recorded as expenditures/expenses when consumed rather than when purchased.
Capital assets
Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges,
sidewalks, and similar items), including those that are leased by the City or are a subscription asset are
reported in the applicable governmental or business-type activity columns in the government-wide
financial statements. Capital assets are defined by the City as assets with an individual cost of more than
$30,000 and an estimated useful life in excess of one year. Capitalized assets are recorded at cost
if purchased or constructed. Donated capital assets are recorded at estimated acquisition value at the date
of donation.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
32
Note 1.
Summary of Significant Accounting Policies, Continued
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend
assets lives are not capitalized. General government infrastructure capital assets include only those assets
acquired or constructed since July 1, 2003.
Land and construction in progress are not depreciated. Depreciation/amortization for other property,
plant, equipment, and infrastructure is computed using the straight-line method over the following
estimated useful lives:
Building and improvements
Machinery and equipment
Vehicles
Streets, sidewalks & other infrastructure
Land improvements
Sewer plant
Sewer collection system
Water infrastructure
10 to 50 years
5 to 20 years
5 to 15 years
7 to 30 years
10 to 25 years
20 to 50 years
15 to 25 years
10 years
Intangible right-to-use lease assets are amortized over the shorter of the lease term or the useful life of the
underlying asset lives above, unless the lease contains a purchase option that the City is reasonably
certain of being exercised - then the lease asset is amortized over the useful life of the underlying asset.
Intangible right-to-use subscription assets are amortized over the shorter of the subscription term or the
useful life of the underlying IT asset.
Deferred outflows/inflows of resources
In addition to assets, the statement of financial position will sometimes report a separate section for
deferred outflows of resources. This separate financial statement element, deferred outflows of resources,
represents a consumption of net position that applies to a future period(s) and so will not be recognized as
an outflow of resources (expense/ expenditure) until then. The City has two types of items that qualify for
reporting in this category. It is the deferred amount on refunding and pension/OPEB related items
reported on the government-wide and proprietary fund financial statements.
In addition to liabilities, the statement of financial position will sometimes report a separate section for
deferred inflows of resources. This separate financial statement element, deferred inflows of resources,
represents an acquisition of net position that applies to a future period(s) and so will not be recognized as
an inflow of resources (revenue) until that time. The City has three types of items that qualify for
reporting in this category. Lease related items that are reported both on the modified accrual basis of
accounting and full accrual basis of accounting. Pension/OPEB related items reported on the government-
wide and proprietary fund financial statements. Unavailable revenues are reported only in the
governmental funds balance sheet. The governmental funds report unavailable revenues from grants and
taxes. These amounts are deferred and recognized as an inflow of resources in the period that the amounts
become available.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
33
Note 1.
Summary of Significant Accounting Policies, Continued
Postemployment benefits
For purposes of measuring the net pension and other postemployment benefits (OPEB) assets and
liabilities, deferred outflows of resources and deferred inflows of resources related to pensions and OPEB,
and pension and OPEB expense, information about the plan’s fiduciary net position of the Arizona State
Retirement System (ASRS) and the Arizona Public Safety Personnel Retirement System (PSPRS), and
additions to/deductions from the plan’s fiduciary net position have been determined on the same basis as
they are reported by ASRS and PSPRS. For this purpose, benefit payments (including refunds of
employee contributions) are recognized when due and payable in accordance with the benefit terms.
Investments are reported at fair value.
Net position flow assumption
Sometimes the City will fund outlays for a particular purpose from both restricted (e.g., restricted bond or
grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted – net
position and unrestricted – net position in the government-wide and proprietary fund financial statements,
a flow assumption must be made about the order in which the resources are considered to be applied. It is
the City’s policy to consider restricted – net position to have been depleted before unrestricted – net
position is applied.
Fund balance flow assumptions
Sometimes the City will fund outlays for a particular purpose from both restricted and unrestricted
resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the
amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental
fund financial statements a flow assumption must be made about the order in which the resources are
considered to be applied. It is the City’s policy to consider restricted fund balance to have been depleted
before using any of the components of unrestricted fund balance. Further, when the components of
unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first,
followed by assigned fund balance. Unassigned fund balance is applied last.
Fund balance policies
Fund balance of governmental funds is reported in various categories based on the nature of any
limitations requiring the use of resources for specific purposes. The City itself can establish limitations on
the use of resources through either a commitment (committed fund balance) or an assignment (assigned
fund balance).
The committed fund balance classification includes amounts that can be used only for the specific
purposes determined by a formal action of the City’s highest level of decision-making authority. The
governing council is the highest level of decision-making authority for the City that can, by adoption of an
ordinance prior to the end of the fiscal year, commit fund balance. Once adopted, the limitation imposed by
the ordinance remains in place until a similar action is taken (the adoption of another ordinance) to
remove or revise the limitation.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
34
Note 1.
Summary of Significant Accounting Policies, Continued
Amounts in the assigned fund balance classification are intended to be used by the City for specific
purposes but do not meet the criteria to be classified as committed. The council has authorized the City
Manager to assign fund balance. The council may also assign fund balance as it does when appropriating
fund balance to cover a gap between estimated revenue and appropriations in the subsequent year’s
appropriated budget. Unlike commitments, assignments generally only exist temporarily. In other words,
an additional action does not normally have to be taken for the removal of an assignment. Conversely, as
discussed above, an additional action is essential to either remove or revise a commitment.
Unassigned fund balance is a residual classification of the General Fund. This classification represents
fund balance that has not been assigned to other funds and that has not been restricted, committed, or
assigned to a specific purpose within the General Fund. However, in governmental funds other than the
General Fund, if expenditures incurred for specific purposes exceed the amounts that are restricted,
committed, or assigned to those purposes, it may be necessary to report a negative unassigned fund
balance in that fund.
Revenues and expenditures/expenses
Program revenues
Amounts reported as program revenues include 1) charges to customers or applicants who purchase, use,
or directly benefit from goods, services, or privileges provided by a given function or segment and 2)
grants and contributions (including special assessments) that are restricted to meeting the operational or
capital requirements of a particular function or segment. All taxes, including those dedicated for specific
purposes, and other internally dedicated resources are reported as general revenues rather than as program
revenues.
Property taxes
Property tax revenues are recognized as revenues in the year collected or if collected within 60 days
thereafter unless they are prepaid. Maricopa County levies real property taxes on or before the third
Monday in August, which become due and payable in two equal installments on October 1 of the current
year and March 1 of the subsequent year. Taxes become delinquent after the first business day of
November and May, respectively. Interest attaches on installments after the delinquency date.
The County also levies various personal property taxes during the year. A lien against property assessed
attaches on the first day of January preceding the assessment and levy.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
35
Note 1.
Summary of Significant Accounting Policies, Continued
Compensated absences
The City recognizes a liability for compensated absences for leave time that (1) has been earned for
services previously rendered by employees, (2) accumulates and is allowed to be carried over to
subsequent years, and (3) is more likely than not to be used as time off or settled (for example paid in
cash to the employee or payment to an employee flex spending account) during or upon separation from
employment. Based on the criteria listed, one type of leave qualify for liability recognition for
compensated absences – vacation leave. The liability for compensated absences is reported as incurred in
the government-wide and proprietary fund financial statements. A liability for compensated absences is
recorded in the governmental funds only if the liability has matured because of employee resignations or
retirements. The liability for compensated absences includes salary-related benefits, where applicable.
Vacation
The City’s policy permits employees to accumulate earned but unused vacation benefits, which are
eligible for payment at the employee’s current pay rate upon separation from employment.
Leases and Subscription-Based Information Technology Arrangements
Leases
As lessee, the City recognizes lease liabilities with an initial, individual value of $25,000 or more. The
City uses its estimated incremental borrowing rate to measure lease liabilities unless it can readily
determine the interest rate implicit in the lease. The City's estimated incremental borrowing rate is based
on the average interest rate of other financing instruments with similar terms and risks as those currently
entered into by the City.
As lessor, the City recognizes lease receivables with an initial, individual value of $100,000 or more. If
there is no stated rate in the lease contract (or if the stated rate is not the rate the City charges the lessee)
and the implicit rate cannot be determined, the City uses its own estimated incremental borrowing rate as
the discount rate to measure lease receivables. The City's estimated incremental borrowing rate is
calculated using the same method used on their lessee transactions above.
Subscription-Based Information Technology Arrangements
The City recognizes subscription liabilities with an initial, individual value that is sufficient to meet the
criteria of the City's policy. The City uses its estimated incremental borrowing rate to measure
subscription liabilities unless it can readily determine the interest rate implicit in the arrangement. The
City's estimated incremental borrowing rate is calculated as described above for leases.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
36
Note 1.
Summary of Significant Accounting Policies, Continued
Proprietary funds operating and nonoperating revenues and expenses
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of
the water fund, wastewater fund, refuse fund, and internal service funds are charges to customers for sales
and services. The water and wastewater funds also recognize as operating revenue the portion of tap fees
intended to recover the cost of connecting new customers to the system. Operating expenses for enterprise
funds and internal service funds include the cost of sales and services, administrative expenses, and
depreciation on capital assets. All revenues and expenses not meeting this definition are reported as
nonoperating revenues and expenses.
Tax abatements
The City has not entered into any tax abatement agreements and the City is not aware of any tax
abatement agreements that have been entered into by other governments that would reduce the City’s tax
revenues.
Use of estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the
United States of America requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenditures/expenses during the
reporting period. Actual results could differ from those estimates.
New Pronouncements
For the year ended June 30, 2025, the City implemented the provisions of GASB Statement No. 101,
Compensated Absences, which provides updated recognition and measurement guidance for compensated
absences. Implementation of this new statement did not have a material impact on the City.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
37
Note 2.
Reconciliation of Government-Wide and Fund Financial Statements
The governmental fund balance sheet includes a reconciliation between total governmental fund balances
and net position of governmental activities as reported in the government-wide statement of net position.
This difference primarily results from the long-term economic focus of the statement of net position
versus the current financial resources focus of the governmental fund balance sheets. The details of these
differences are reported in the reconciliation on page 22.
The governmental fund statement of revenues, expenditures, and changes in fund balance includes
reconciliation between net changes in fund balances-total governmental funds and changes in net position
of governmental activities as reported in the government-wide statement of activities. These differences
are the result of converting from the current resources measurement focus and modified accrual basis for
governmental fund statements to the economic resources measurement focus and full accrual basis used
for government-wide statements. The details of these differences are reported in the reconciliation on
page 24.
Note 3.
Stewardship, Compliance, and Accountability
Stewardship, compliance, and accountability are key concepts in defining the responsibilities of the City.
The use of budgets and monitoring of equity status facilitate the City’s compliance with legal
requirements.
Budgets and budgetary accounting
Annual budgets are adopted on a basis consistent with generally accepted accounting principles for all
governmental funds. All annual appropriations lapse at year-end. The City Council follows these
procedures in establishing the budgetary data reflected in the financial statements:
1. In accordance with Arizona Revised Statutes, the City Manager submits a proposed budget for the
fiscal year commencing the following July 1 to the City Council. The operating budget includes
proposed expenditures and the means of financing them for the upcoming year.
2. Public hearings are conducted to obtain taxpayer comment.
3. Prior to the third Monday in August, the expenditure limitation for the City is legally enacted through
passage of a resolution. To ensure compliance with the expenditure limitation, a uniform expenditure
report must be filed with the State each year. This report, issued under a separate cover, reconciles
total City expenditures from the audited financial statements to total expenditures for reporting in
accordance with the State’s uniform expenditure reporting system (A.R.S. §41-1279.07).
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
38
Note 3.
Stewardship, Compliance, and Accountability, Continued
4. State law requires that, prior to April 1, the Economic Estimates Commission provide the City with a
final expenditure limit for the coming fiscal year.
5. Expenditures may not legally exceed the expenditure limitation of all fund types as a whole. For
management purposes, the City adopts a budget by department for the General Fund and in total by
fund for other funds. The City Council has adopted a budget transfer policy and all amendments must
be done in accordance with this policy.
6. The City has adopted budgets in accordance with A.R.S. requirements and utilizes the budgets as a
management control device during the year for the General, Special Revenue, Capital Projects, Debt
Service, and Enterprise funds. The budgets are prepared on essentially the same modified accrual
basis of accounting used to record actual revenues and expenditures.
The City is subject to the State of Arizona’s Spending Limitation Law for Towns and Cities. This law
does not permit the City to spend more than budgeted expenses. The limitation is applied to the total of
the combined funds. The City complied with this law during the year.
Supplementary budgetary appropriations were made during the year ended June 30, 2025.
Encumbrance accounting, under which purchase orders, contracts, and other commitments for the
expenditure of monies are recorded in order to reserve that portion of the applicable appropriation for
future years, is employed by the City.
Expenditures over appropriations
Arizona state law stipulates that no expenditures may be made for a purpose not authorized in the annual
budget. The individual Statements of Revenues, Expenditures and Changes in Fund Balances - Budget
and Actual reports as listed in the table of contents present all of the departments which incurred an
excess of expenditures/expenses over appropriations for the year ended June 30, 2025, if any.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
39
Note 4.
Deposits and Investments
Deposits
Custodial Credit Risk
For deposits this is the risk that in the event of a bank failure, the City’s deposit may not be returned to it.
The City does not have a formal policy for custodial credit risk. At year end, the carrying amount of the
City’s deposits was $6,367,086 and the bank balance was $6,533,272. The bank balance was fully
covered by FDIC coverage or collateral held by the pledging financial institution in the City’s name.
Investments
The Arizona State Treasurer’s Office operates the Local Government Investment Pool (LGIP) with no
regulatory oversight. The LGIP is available for investment of funds administered by any Arizona Public
Treasurer.
The LGIP is not registered with the SEC as an investment company. The State Board of Investments
provides oversight for the State Treasurer’s investment pools. Deposits in the LGIP are not insured or
otherwise guaranteed by the State of Arizona, and participants share proportionally in any realized gain or
losses on investments.
The provisions of State law (A.R.S. 35-323) govern the investment of funds in excess of $100,000.
A.R.S. 35-323 allows for investment in certificates of deposit, interest bearing savings accounts,
repurchase agreements with a maximum maturity of 180 days, pooled investment funds established by the
State Treasurer, obligations guaranteed by the United States, bonds of the State of Arizona or other local
municipalities, commercial paper of prime quality that is rated “P1” by Moody’s investors or “A1” by
Standard and Poor’s rating service, and bonds, debentures or notes that are issued by corporations
organized and doing business in the United States subject to certain restrictions. For investments of less
than $100,000, procedures as specified by local ordinance or resolution must be followed.
As of June 30, 2025, the carrying amount of the City’s deposits and investments are as follows:
Weighted
Fair
Credit
Average
Value
Rating (1)
Maturity (2)
Cash on deposit
6,367,086
$
N/A
N/A
Cash on hand
3,800
N/A
N/A
Local Governments Investment Pool 5
136,318,226
AAAf/S1+
0.09 years
142,689,112
$
(1) Ratings are provided where applicable to indicate associated Credit Risk.
(2) Interest Rate Risk is estimated using the weighted average years to maturity.
N/A indicates not applicable.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
40
Note 4.
Deposits and Investments, Continued
Credit risk
Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations.
The City’s policy for reducing its exposure to credit risk is to comply with State law (A.R.S. 35-323).
A.R.S. 35-323 limits investment in commercial paper and corporate bonds to the top ratings issued by
nationally recognized statistical rating organizations such as Standard & Poor’s and Moody’s Investor
Services.
Interest rate risk
Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an
investment. The City’s policy for managing its exposure to fair value loss arising from increasing interest
rates is to comply with the provisions of State law (A.R.S. 35- 323). A.R.S. 35-323 requires that the
City’s investment portfolio maturities do not exceed five years from the time of purchase.
Fair value measurements
As noted above, the City holds investments that are measured at fair value on a recurring basis. The City
categorizes its fair value measurements within the fair value hierarchy established by generally accepted
accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the
asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant
other observable inputs; Level 3 inputs are significant unobservable inputs.
The Local Government Investment Pool, as listed above, is valued using quoted market prices (Level 2
inputs).
Note 5.
Receivables
Intergovernmental receivables consist principally of amounts due from the State of Arizona for various
taxes, shared revenues, and highway user revenues.
Accounts receivable in the proprietary funds are for service billings and are shown net of an allowance for
doubtful accounts.
Water Fund
Sewer Fund
Sanitation Fund
Total
Business-type receivables:
Gross Receivables
2,177,848
$
590,409
$
337,824
$
3,106,081
$
Allowance for Doubtful Accounts
(962,819)
(278,771)
(123,137)
(1,364,727)
1,215,029
$
311,638
$
214,687
$
1,741,354
$
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
41
Note 5.
Receivables , Continued
Leases Receivables
As of June 30, 2025, the City is reporting Leases Receivable of $971,092 and Deferred Inflows Related to
Leases of $916,785. For the fiscal year 2025, the City reported lease revenue of $72,034 and interest
revenue of $30,045, related to lease payments received. From time to time, the City's lease contracts
include variable lease payments, including residual value guarantees, that are not included in the lease
receivable because they are not fixed in substance. The City recognized an insignificant amount of
revenue related to these variable lease payments and they have not been further disclosed or included in
the measurement of the City's lease receivables. The City's leases are summarized as follows:
Lease
Lease
Receivable
Deferred
Inflows
Related to
Leases
Lease Revenue
Lease Interest
Revenue
American Tower
221,977
$
191,064
$
13,487
$
6,725
$
Crown Atlantic
103,635
102,536
12,817
3,547
Crown Atlantic
119,058
115,892
14,487
4,012
Verizon
368,383
357,812
22,363
10,862
Viewpoint
158,039
149,481
8,880
4,899
Total
971,092
$
916,785
$
72,034
$
30,045
$
The descriptions for each lease are listed below.
American Tower - On October 17, 2012, the City entered into a five-year lease as Lessor for the use
of real property. The lessee has four extension options for an additional five years and the City is
reasonably certain that the lessee will renew the lease. The lessee is required to make annual fixed
payments of $12,000. The lease has an interest rate of 3.038%. Based on this agreement, the City is
receiving payments through 2039.
Crown Atlantic - On March 15, 2010, the City entered into a five-year lease as Lessor for the use of
real property. The lessee has five extension options for an additional five years and the City is
reasonably certain that the lessee will renew the lease. The lessee is required to make annual fixed
payments of $13,140. The lease has an interest rate of 3.038%. Based on this agreement, the City is
receiving payments through 2033.
Crown Atlantic - Fiscal Year - On March 1, 1999, the City entered into a five-year lease as Lessor
for the use of real property. The lessee has five extension options for an additional five years and the
City is reasonably certain that the lessee will renew the lease. The lessee is required to make annual
fixed payments of $16,987. The lease has an interest rate of 3.038%. Based on this agreement, the
City is receiving payments through 2033.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
42
Note 5.
Receivables , Continued
Verizon - Fiscal Year - On February 1, 2017, the City entered into a five-year lease as Lessor for the
use of real property. The lessee has five extension options for an additional five years and the City is
reasonably certain that the lessee will renew the lease. The lessee is required to make annual fixed
payments of $124,107. The lease has an interest rate of 3.038%. Based on this agreement, the City is
receiving payments through 2042.
Viewpoint - Fiscal Year - On March 6, 2012, the City entered into a twenty-year lease as Lessor for
the use of real property. The lessee has no extension options. The lessee is required to make monthly
fixed payments of $1,000. The lease has an interest rate of 3.038%. Based on this agreement, the City
is receiving payments through 2042.
Future payments due to the City are as follows for the years ending June 30:
Fiscal year
Principal
Payments
Interest
Payments
Total
Payments
2026
28,445
$
29,201
$
57,646
$
2027
166,338
28,332
194,670
2028
34,374
23,272
57,646
2029
35,423
22,223
57,646
2030
36,505
21,141
57,646
2031-2035
404,200
59,366
463,566
2036-2040
244,718
18,311
263,029
2041-2042
21,089
656
21,745
Total
971,092
$
202,502
$
1,173,594
$
Governmental Activities
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
43
Note 6.
Capital Assets
The following table summarizes the changes to capital assets for governmental activities during the year:
Governmental Activities:
Balance
Balance
06/30/24
Additions
Deletions
06/30/25
Capital assets not being depreciated/amortized:
Land
11,203,973
$
1,871,051
$
-
$
13,075,024
$
Construction in progress
13,508,190
9,467,106
(22,643,397)
331,899
24,712,163
11,338,157
(22,643,397)
13,406,923
Capital assets being depreciated/amortized:
Buildings and improvements
29,681,943
447,943
-
30,129,886
Equipment and vehicles
13,441,524
453,311
(697,709)
13,197,126
Land improvements
3,670,080
139,556
-
3,809,636
Infrastructure
62,091,734
18,906,537
-
80,998,271
Right-to-use subscription assets
1,643,909
25,543
-
1,669,452
110,529,190
19,972,890
(697,709)
129,804,371
Less accumulated depreciation/amortization for:
Buildings and improvements
(6,023,932)
(669,557)
(6,693,489)
Equipment and vehicles
(8,233,697)
(1,128,420)
620,917
(8,741,200)
Land improvements
(1,495,338)
(207,718)
-
(1,703,056)
Infrastructure
(26,796,643)
(2,122,585)
-
(28,919,228)
SBITA
(546,173)
(368,999)
(915,172)
Total accumulated depreciation/amortization
(43,095,783)
(4,497,279)
620,917
(46,972,145)
67,433,407
15,475,611
(76,792)
82,832,226
Governmental activities capital assets, net
92,145,570
$
26,813,768
$
(22,720,189)
$
96,239,149
$
Depreciation/amortization expense was charged to the functions/programs of the City as follows:
Governmental Activities:
General government
Public safety
Public works/streets
Total depreciation/amortization expense
Total capital assets being depreciated/
amortized, net
Total capital assets not being depreciated/ amortized
Total capital assets being depreciated/
amortized
1,520,880
$
4,497,279
$
1,379,744
1,596,655
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
44
Note 6.
Capital Assets, Continued
The following table summarizes the changes to capital assets for business-type activities during the year:
Business-Type Activities:
Balance
Balance
06/30/24
Additions
Deletions
06/30/25
Capital assets not being depreciated/amortized:
Land
921,620
$
-
$
-
$
921,620
$
Construction in progress
2,348,393
3,479,414
(4,363,818)
1,463,989
3,270,013
3,479,414
(4,363,818)
2,385,609
Capital assets being depreciated/amortized:
Sewer Plant
23,051,857
155,354
-
23,207,211
Water mains and lines
39,268,139
43,978
-
39,312,117
Sewer collection system
10,240,171
994,779
-
11,234,950
Land improvements
5,679,346
313,469
-
5,992,815
Buildings and improvements
3,692,755
2,781,197
-
6,473,952
Equipment and vehicles
5,076,120
75,040
-
5,151,160
Right-to-use lease assets
106,968
-
-
106,968
Total capital assets being depreciated/amortized
87,115,356
4,363,817
-
91,479,173
Less accumulated depreciation/amortization for:
Sewer Plant
(9,743,931)
(642,385)
-
(10,386,316)
Water mains and lines
(24,542,632)
(1,454,727)
-
(25,997,359)
Sewer collection system
(8,048,356)
(204,628)
-
(8,252,984)
Land improvements
(4,862,394)
(112,351)
-
(4,974,745)
Buildings and improvements
(1,155,770)
(213,445)
-
(1,369,215)
Equipment and vehicles
(3,448,889)
(275,235)
-
(3,724,124)
Right-to-use lease assets
(14,106)
(7,053)
-
(21,159)
Total accumulated depreciation/amortization
(51,816,078)
(2,909,824)
-
(54,725,902)
Total capital assets being depreciated/amortized, net
35,299,278
1,453,993
-
36,753,271
Business-type activities capital assets, net
38,569,291
$
4,933,407
$
(4,363,818)
$
39,138,880
$
Depreciation/amortization expense was charged to the functions/programs of the City as follows:
Business-Type Activities:
Water
Sewer
Total depreciation/amortization expense
1,813,720
$
Total capital assets not being depreciated/amortized
2,909,824
$
1,096,104
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
45
Note 7.
Long-Term Liabilities
The following is a summary of changes in long-term obligations for the current fiscal year:
Balance
Balance
Current
06/30/24
Additions
Retirements
06/30/25
Portion
Governmental activities
Bonds payable
15,280,000
$
-
$
(1,380,000)
$
13,900,000
$
1,430,000
$
1,797,252
-
(165,553)
1,631,699
-
17,077,252
-
(1,545,553)
15,531,699
1,430,000
Subscription liabilities
1,097,736
25,543
(368,999)
754,280
$
307,132
Net pension/OPEB liabilities
15,815,804
-
(2,831,268)
12,984,536
-
Accrued compensated absences *
1,354,917
106,070
-
1,460,987
799,016
Total governmental activities
35,345,709
$
131,613
$
(4,745,820)
$
30,731,502
$
2,536,148
$
Business-Type activities
Accrued compensated absences *
135,839
$
65,017
$
-
$
200,856
$
110,570
$
12,714,464
-
(1,575,640)
11,138,824
1,504,377
Leases payable
98,770
-
(4,576)
94,194
5,108
Net pension/OPEB liabilities
1,997,043
58,680
-
2,055,723
-
Total business-type activities
14,946,116
$
123,697
$
(1,580,216)
$
13,489,597
$
1,620,055
$
Total long-term liabilities
50,291,825
$
255,310
$
(6,326,036)
$
44,221,099
$
4,156,203
$
Bond premium
Loans payable from direct borrowings
Net bonds payable
*The change in compensated absences above is a net change for the year.
Generally, resources from the General fund are used to liquidate net pension liabilities and OPEB
liabilities, for governmental activities.
In prior years, the City issued general obligation bonds series 2022 with an average interest rate of 4.35%
to refund older, higher-rate issues with an average interest rate of 4.71%. The City realized net proceeds
of $12,730,886 after payment of $231,432 in underwriting fees, insurance, and other issuance costs. The
refunded 2012 general obligation bonds are considered fully defeased, and related liabilities are not
included in the City's financial statements. The reacquisition price exceeded the net carrying amount of
the old debt by $376,462. This amount is reported as a deferred outflow of resources and amortized over
the remaining life of the refunded debt, which had a shorter remaining life than the refunding debt. The
current refunding reduced the City's total debt service payments causing an economic gain (difference
between the present values of the debt service payments on the old and new debt) of $1,299,043.
The City has issued general obligation, revenue and refunding bonds to refund prior year issuances and to
finance various municipal, public safety, streets, and park projects. The total outstanding principal does
not include related bond premiums of $1,631,699.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
46
Note 7.
Long-Term Liabilities, Continued
Original
amount
Interest
Outstanding
Governmental activities
issued
rate
Maturity
principal
G.O. Refunding Bonds, Series 2017
8,385,000
$
2.0 - 4.0%
July 1, 2029
4,230,000
$
G.O. Refunding Bonds, Series 2022
11,575,000
3.0 - 5.0%
July 1, 2042
9,670,000
Total
13,900,000
$
Principal payments on the governmental activities bonds payable at year end are summarized as follows:
Years ending June 30:
Principal
Interest
2026
1,430,000
$
595,000
$
2027
1,480,000
541,700
2028
1,455,000
482,500
2029
1,510,000
424,300
2030
460,000
359,550
2031-2035
2,655,000
1,430,250
2036-2040
3,360,000
718,000
2041-2045
1,550,000
88,325
13,900,000
$
4,639,625
$
Governmental Activities
The City currently has no outstanding direct borrowings related to governmental-type activities.
The City has entered into a number of separate Water Infrastructure Finance Authority (WIFA) loan
agreements to refund a prior year issuance and to finance water and sewer facilities and infrastructure
upgrades.
Original
amount
Interest
Remaining
Outstanding
Business-type activities
issued
rate
maturities
principal
WIFA loan, DE 050-2005
16,550,000
$
2.93%
July 1, 2025
709,248
$
WIFA loan, DW 2008
4,040,000
2.75%
July 1, 2027
817,403
WIFA loan, 920227-13
4,550,000
2.80%
July 1, 2032
1,816,512
WIFA loan, 910145-13
500,000
2.80%
July 1, 2032
242,049
WIFA loan, 920305-21
8,687,500
1.87%
July 1, 2045
7,553,612
Total
11,138,824
$
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
47
Note 7.
Long-Term Liabilities, Continued
Principal and interest payments on business-type activities loans payable at year end are summarized as
follows:
Years ending June 30:
Principal
Interest
2026
1,504,377
$
222,360
$
2027
814,512
192,342
2028
834,383
172,220
2029
567,162
155,548
2030
580,134
146,065
2031-2035
2,516,633
520,370
2036-2040
1,855,406
319,257
2041-2045
2,035,871
137,101
2046
430,346
4,032
11,138,824
$
1,869,295
$
Direct Borrowings
Business-Type Activities
Pledged revenues – business-type activities.
The City has pledged future water and sewer revenues to repay the outstanding WIFA loans of The City's
outstanding notes from direct borrowings related to business-type activities of $11,138,824 as of year-
end. The agreement contains a provision that the future net revenues will exceed 1.2 times the annual debt
service. In 2005, the voters authorized the City to enter into agreements for water and sewer debt up to
$32,000,000. To date the City has issued all its voter authorized water and sewer debt. However, the City
is no longer required to receive voter approval to issue water and sewer debt. Proceeds from the original
loan issuance provided financing for improvements to the City's water and sewer systems infrastructure
and to refund certificates of participation. The loans are paid solely from water and sewer revenues and
are payable through July 2045.
In an event of default, the lender shall have the right to take action permitted in the agreement and by law
to collect the amounts then due and thereafter to become due on their scheduled payment dates as well as
other actions including without limitation appointment of a receiver of the System.
Nothing in this Note is intended to provide legal advice related to City issued debt. For further guidance
on debt instruments and guarantees consult with a professional or review the loan documents.
Due to reporting requirements and the timing of the July 1st WIFA payments, other City bonded
indebtedness reports may not equal the amounts reported in these financial statements.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
48
Note 7.
Long-Term Liabilities, Continued
Leases and Subscription-Based Information Technology Arrangements (SBITAs)
Leases
The City has obtained the right to use assets under the provisions of its lease agreements. The City, as a
lessee, has entered into a lease agreement for the use of certain property for the installation of a cellular
tower. An initial lease liability was recorded in the amount of $106,989. As of June 30, 2025, the value of
the lease liability is $94,194. City of El Mirage is required to make monthly fixed payments of $596. The
lease has an interest rate of 3.08%. The buildings estimated useful life was 182 months as of the contract
commencement. The value of the right-to-use asset as of June 30, 2024 of $106,969 with accumulated
amortization of $21,159.
The following schedule details minimum lease payments to maturity for the City's leases:
Years ending June 30:
Principal
Interest
2026
5,108
$
2,787
$
2027
5,504
2,626
2028
5,921
2,453
2029
6,358
2,267
2030
6,816
2,068
2031-2035
41,759
6,824
2036-2040
22,728
787
94,194
$
19,812
$
Business-Type Activities
SBITAs
The City has obtained the right to use various IT software under the provisions of various subscription-
based information technology arrangements. These arrangements consist of software for procurement,
public safety systems, payroll and human resources systems, and general IT systems. The terms for these
arrangements range from 2 to 5 years, with the last arrangement expiring in 2029. The subscription
liabilities were determined with an annual borrowing rate of 3.04%.
The total amount of subscription assets and the related accumulated amortization are as follows:
Total intangible right-to-use subscription assets
Infrastructure
1,669,452
$
Less accumulated amortization
(915,172)
Carrying Value
754,280
$
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
49
Note 7.
Long-Term Liabilities, Continued
The following schedule details minimum subscription payments to maturity for the City's subscriptions:
Years ending June 30:
Principal
Interest
2026
307,132
$
23,822
$
2027
287,208
10,842
2028
159,940
3,560
754,280
$
38,224
$
Governmental Activities
Variable and Other Payments
From time to time, the City's leases and SBITAs include variable payments and other payments, such as
termination penalties, that are not included in the lease/subscription liabilities because they are either not
fixed in substance (variable) or the City is not reasonably certain the other payments will be required. The
City recognized an insignificant amount of expenses related to these variable and other payments and they
have not been further disclosed or included in the measurement of the lease/subscription liabilities.
Note 8.
Interfund Receivables, Payables, and Transfers
Interfund receivables and payables for the fiscal year ended June 30, 2025 are as follows:
Due To
Due From
General Fund
Total
Non-major fund
10,893
$
10,893
$
Total
10,893
$
10,893
$
Interfund balances resulted from the time lag between the dates that (1) interfund goods and services are
provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and
(3) payments between funds are made.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
50
Note 8.
Interfund Receivables, Payables, and Transfers, Continued
Interfund transfers for the fiscal year ended June 30, 2025 are as follows:
Transfers Out
General
Non-major
Water
Sewer
Total
General Fund
-
$
2,002,000
$
-
$
-
$
2,002,000
$
Sewer
2,186,000
-
214,000
-
2,400,000
Water
1,967,000
-
-
1,394,000
3,361,000
Sanitation
357,000
-
-
-
357,000
Total
4,510,000
$
2,002,000
$
214,000
$
1,394,000
$
8,120,000
$
Transfers In
Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to
the fund that statute or budget requires to expend them and (2) use unrestricted revenues collected in the
general fund to finance various programs accounted for in other funds in accordance with budgetary
authorizations.
The transfers from the General Fund subsidize the operational costs of the Court, the Highway User
Revenue Fund, and the Debt Service Fund. The Transfers from and between the Water and Sewer Funds
and the General Fund represent the allocation of the customer service costs and the allocation of
overhead.
Note 9.
Pensions and Other Postemployment Benefits
The City contributes to the Arizona State Retirements System and Public Safety Personnel Retirement
System plans described below. The plans are component units of the State of Arizona. At June 30, 2025,
the City reported the following aggregate amounts related to pensions and other postemployment benefits
(OPEB) for all plans to which it contributes:
Statement of Net Position
Governmental
Business-Type
and Statement of Activities
ASRS
PSPRS
Combined Total
Activities
Activities
Net pension/OPEB asset
413,715
$
224,939
$
638,654
$
562,932
$
75,722
$
Net pension/OPEB liabilities
11,231,657
3,808,602
15,040,259
12,984,536
2,055,723
Deferred outflows of resources
2,598,586
7,837,893
10,436,479
9,960,862
475,617
Deferred inflows of resources
885,612
2,007,940
2,893,552
2,731,459
162,093
Pension/OPEB expense
1,542,271
1,307,487
2,849,758
2,567,478
282,280
The City reported $2,994,235 of pension and OPEB contributions as expenditures in the governmental
funds related to all plans to which it contributes.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
51
Note 9.
Pensions and Other Postemployment Benefits, Continued
Arizona State Retirement System (ASRS)
Plan description – City employees not covered by the other pension plans described below participate in
the Arizona State Retirement System (ASRS). The ASRS administers a cost-sharing multiple-employer
defined benefit pension plan, a cost-sharing multiple-employer defined benefit health insurance premium
benefit (OPEB) plan, and a cost-sharing multiple-employer defined benefit long-term disability (OPEB)
plan. The Arizona State Retirement System Board governs the ASRS according to the provisions of
A.R.S. Title 38, Chapter 5, Articles 2 and 2.1. The ASRS issues a publicly available financial report that
includes its financial statements and required supplementary information. The report is available on its
website at www.azasrs.gov.
Benefits provided – The ASRS provides retirement, health insurance premium supplement, long-term
disability, and survivor benefits. State statute establishes benefit terms. Retirement benefits are calculated
on the basis of age, average monthly compensation, and service credit as follows:
Initial Membership Date
Initial Membership Date
Before July 1, 2011
On or After July 1, 2011
Years of service and
age required to receive
benefit
Sum of years and age equals 80
30 years age 55
10 years age 62
25 years age 60
5 years age 50*
10 years age 62
any years age 65
5 years age 50*
any years age 65
Final average salary is
based on
Highest 36 consecutive months
of last 120 months
Highest 60 consecutive months
of last 120 months
Benefit percent per
year of service
2.1% to 2.3%
2.1% to 2.3%
* With actuarially reduced benefits.
Retirement benefits for members who joined the ASRS prior to September 13, 2013, are subject to
automatic cost-of-living adjustments based on excess investment earning. Members with a membership
date on or after September 13, 2013, are not eligible for cost-of-living adjustments. Survivor benefits are
payable upon a member's death. For retired members, the survivor benefit is determined by the retirement
benefit option chosen. For all other members, the beneficiary is entitled to the member's account balance
that includes the member's contributions and employer's contributions, plus interest earned.
Health insurance premium benefits are available to retired or disabled members with 5 years of credited
service. The benefits are payable only with respect to allowable health insurance premiums for which the
member is responsible. For members with 10 or more years of service, benefits range from $100 per
month to $260 per month depending on the age of the member and dependents. For members with 5 to 9
years of service, the benefits are the same dollar amounts as above multiplied by a vesting fraction based
on completed years of service.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
52
Note 9.
Pensions and Other Postemployment Benefits, Continued
Active members are eligible for a monthly long-term disability benefit equal to two-thirds of monthly
earnings. Members receiving benefits continue to earn service credit up to their normal retirement dates.
Members with long-term disability commencement dates after June 30, 1999, are limited to 30 years of
service or the service on record as of the effective disability date if their service is greater than 30 years.
Contributions – In accordance with state statutes, annual actuarial valuations determine active member
and employer contribution requirements. The combined active member and employer contribution rates
are expected to finance the costs of benefits employees earn during the year, with an additional amount to
finance any unfunded accrued liability. For the year ended June 30, 2025, statute required active ASRS
members to contribute at the actuarially determined rate of 12.27 percent (12.12 percent for retirement
and 0.15 percent for long-term disability) of the members' annual covered payroll, and statute required the
City to contribute at the actuarially determined rate of 12.27 percent (12.05 percent for retirement, 0.07
percent for health insurance premium benefit, and 0.15 percent for long-term disability) of the active
members' annual covered payroll. In addition, the City was required by statute to contribute at the
actuarially determined rate of 10.19 percent (10.14 percent for retirement and 0.05 percent for long-term
disability) of annual covered payroll of retired members who worked for the City in positions that an
employee who contributes to the ASRS would typically fill.
The City's contributions to the pension, health insurance premium benefit, and long-term disability plans
for the year ended June 30, 2025, were $1,315,008, $7,639, and $16,369, respectively.
Liability – At June 30, 2025, the City reported the following asset and liabilities for its proportionate
share of the ASRS' net pension/OPEB liability.
Net pension/OPEB
(asset) liability
Pension
11,229,856
$
Health insurance premium benefit
(413,715)
Long-term disability
1,801
The net asset and net liabilities were measured as of June 30, 2024. The total liability used to calculate
the net asset and net liability was determined using update procedures to roll forward the total liability
from an actuarial valuation as of June 30, 2023, to the measurement date of June 30, 2024.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
53
Note 9.
Pensions and Other Postemployment Benefits, Continued
The City's proportion of the net asset or net liability was based on the City's actual contributions to the
plan relative to the total of all participating employers' contributions for the year ended June 30, 2024.
The City's proportion measured as of June 30, 2024, and the change from its proportions measured as of
June 30, 2023, were:
Proportion
June 30, 2023
Proportion
June 30, 2024
Increase
(decrease) from
June 30, 2023
Pension
0.064544%
0.070180%
0.005636%
Health insurance premium benefit
0.063178%
0.068470%
0.005292%
Long-term disability
0.063840%
0.069070%
0.005230%
Expense – For the year ended June 30, 2025, the City recognized pension and OPEB expense:
Pension/OPEB Expense
Pension
1,596,774
$
Health insurance premium benefit
(63,157)
Long-term disability
8,654
Deferred outflows/inflows of resources – At June 30, 2025, the City reported deferred outflows of
resources and deferred inflows of resources related to pensions and OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred Inflows
of Resources
Deferred
Outflows of
Resources
Deferred Inflows
of Resources
Deferred
Outflows of
Resources
Deferred Inflows
of Resources
626,840
$
-
$
11,972
$
99,896
$
6,620
$
4,795
$
-
-
-
4,291
1,303
10,779
-
717,149
-
28,439
-
1,967
607,900
-
1,710
17,783
3,224
513
1,315,008
-
7,639
-
16,369
-
Total
2,549,748
$
717,149
$
21,321
$
150,409
$
27,516
$
18,054
$
Long-Term Disability
Differences between expected
and actual experience
Changes of assumptions or other
inputs
Net difference between projected
and actual earnings on pension
plan investments
Changes in proportion and
differences between contributions
and proportionate share of
contributions
Contributions subsequent to the
measurement date
Pension
Health Insurance Premium Benefit
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
54
Note 9.
Pensions and Other Postemployment Benefits, Continued
The amounts reported as deferred outflows of resources related to ASRS pensions and OPEB resulting
from City contributions subsequent to the measurement date will be recognized as an increase of the net
asset or a reduction of the net liability in the year ending June 30, 2026. Other amounts reported as
deferred outflows of resources and deferred inflows of resources related to ASRS pensions and OPEB
will be recognized as expenses as follows:
Year Ended
June 30,
Pension
Health Insurance
Premium Benefit
Long-term
disability
2026
(4,904)
$
(80,865)
$
(2,623)
$
2027
835,634
(21,724)
131
2028
(181,534)
(20,670)
(2,471)
2029
(131,605)
(10,763)
(2,374)
2030
-
(2,705)
(710)
Thereafter
-
-
1,140
Actuarial Assumptions – The significant actuarial assumptions used to measure the total pension
liability are as follows:
Actuarial valuation date
June 30, 2023
Actuarial roll forward date
June 30, 2024
Actuarial cost method
Entry age normal
Investment rate of return
7.0%
Projected salary increases
2.9-8.4% for pensions/not applicable for OPEB
Inflation
2.3%
Permanent benefit increase
Included for pensions/not applicable for OPEB
Mortality rates
2017 SRA Scale U-MP for pensions and health
insurance premium benefit
Recovery rates
2012 GLDT for long-term disability
Healthcare cost trend rate
Not applicable
Actuarial assumptions used in the June 30, 2023, valuation were based on the results of an actuarial
experience study for the 5-year period ended June 30, 2020.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
55
Note 9.
Pensions and Other Postemployment Benefits, Continued
The long-term expected rate of return on ASRS plan investments was determined to be 7.0 percent using
a building-block method in which best-estimate ranges of expected future real rates of return (expected
returns, net of plan investment expense and inflation) are developed for each major asset class. These
ranges are combined to produce the long-term expected rate of return by weighting the expected future
real rates of return by the target asset allocation percentage and by adding expected inflation. The target
allocation and best estimates of geometric real rates of return for each major asset class are summarized
in the following table:
Asset Class
Target
Allocation
Long-Term Expected
Geometric Real Rate of
Return
Public equity
44%
4.48%
Credit
23%
4.40%
Real estate
17%
6.05%
Private equity
10%
6.11%
Interest rate sensitive
6%
(0.45)%
Totals
100%
Discount rate – At June 30, 2024, the discount rate used to measure the ASRS total pension/OPEB
liability was 7.0 percent. The projection of cash flows used to determine the discount rate assumed that
contributions from participating employers will be made based on the actuarially determined rates based
on the ASRS Board's funding policy, which establishes the contractually required rate under Arizona
statute. Based on those assumptions, the plans’ fiduciary net position was projected to be available to
make all projected future benefit payments of current plan members. Therefore, the long-term expected
rate of return on plan investments was applied to all periods of projected benefit payments to determine
the total pension/OPEB liability.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
56
Note 9.
Pensions and Other Postemployment Benefits, Continued
Sensitivity of the proportionate share of the ASRS net pension/OPEB (asset) liability to changes in
the discount rate – The following table presents the City's proportionate share of the net pension/OPEB
(asset) liability calculated using the discount rate of 7.0 percent, as well as what the City's proportionate
share of the net pension liability would be if it were calculated using a discount rate that is 1 percentage
point lower (6.0 percent) or 1 percentage point higher (8.0 percent) than the current rate:
1% Decrease
Discount Rate
1% Increase
(6.00%)
(7.00%)
(8.00%)
Proportionate share of
Net pension liability
17,195,206
$
11,229,856
$
6,258,258
$
Net insurance premium benefit liability (asset)
(300,768)
(413,715)
(509,742)
Net long-term disability liability
6,195
1,801
(2,522)
Plan fiduciary net position – Detailed information about the plan's fiduciary net position is available in
the separately issued ASRS financial report.
Public Safety Personnel Retirement System (PSPRS)
Plan description – City police and fire employees who are regularly assigned hazardous duty participate
in the Public Safety Personnel Retirement System (PSPRS) or employees who became members on or
after July 1, 2017, may participate in the Public Safety Personnel Defined Contribution Retirement Plan
(PSPDCRP). The PSPRS administers agent and cost-sharing multiple-employer defined benefit pension
plans and agent and cost-sharing multiple-employer defined benefit health insurance premium benefit
(OPEB) plans. A nine-member board known as the Board of Trustees and the participating local boards
govern the PSPRS according to the provisions of A.R.S. Title 38, Chapter 5, Article 4. Employees who
were PSPRS members before July 1, 2017, participate in the agent plans, and those who became PSPRS
members on or after July 1, 2017, participate in the cost-sharing plans (PSPRS Tier 3 Risk Pool), which
are not further disclosed because of their relative insignificance to the City’s financial statements.
The PSPRS issues a publicly available financial report that includes financial statements and required
supplementary information for PSPRS. The reports are available on the PSPRS website at
www.psprs.com.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
57
Note 9.
Pensions and Other Postemployment Benefits, Continued
Benefits provided – The PSPRS provides retirement, health insurance premium supplement, disability,
and survivor benefits. State statute establishes benefit terms. Retirement, disability, and survivor benefits
are calculated on the basis of age, average monthly compensation, and service credit as follows:
Initial Membership Date:
Before January 1, 2012
On or After January 1, 2012
and before July 1, 2017
On or after July 1, 2017
Retirement and Disability
Years of service and age
required to receive
benefit
20 years of service, any age
25 years of service or 15 years
15 years of credited service, age 52.5*
15 years of service, age 62
of credited of service, age 52.5
15 years or more of service, age 55
Final average salary is
based on
Highest 36 consecutive months
of last 20 years
Highest 60 consecutive months
of last 20 years
Highest 60 consecutive months of last
15 years
Benefit percent
Normal Retirement
50% less 4.0% for each year of
credited service less than 20
years OR plus 2.0% to 2.5% for
each year of credited service over
20 years, not to exceed 80%
1.5% to 2.5% per year of credited service, not to exceed 80%
Accidental Disability
Retirement
50% or normal retirement, whichever is greater
Catastrophic
Disability
Retirement
90% for the first 60 months then reduced to either 62.5% or normal retirement, whichever is greater
Ordinary Disability
Retirement
Normal retirement calculated with actual years of credited service or 20 years of credited service, whichever is greater,
multiplied by years of credited service (not to exceed 20 years) divided by 20
Survivor Benefit
Retired Members
80% to 100% of retired member's pension benefit
Active Members
80% to 100% of accidental disability retirement benefit or 100% of average monthly compensation if death was the
result of injuries received on the job
* With actuarially reduced benefits
Retirement and survivor benefits are subject to automatic cost-of-living adjustments based on inflation.
PSPRS also provides temporary disability benefits of 50 percent of the member’s compensation for up to
12 months.
Health insurance premium benefits are available to retired or disabled members with 5 years of credited
service. The benefits are payable only with respect to allowable health insurance premiums for which the
member is responsible. Benefits range from $100 per month to $260 per month depending on the age of
the member and dependents
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
58
Note 9.
Pensions and Other Postemployment Benefits, Continued
Employees covered by benefit terms – At June 30, 2025, the following employees were covered by the
agent plans’ benefit terms:
PSPRS - Police
Pension
Health
Inactive employees or beneficiaries currently receiving benefits
28
28
Inactive employees entitled to but not yet receiving benefits
10
4
Active employees
18
18
Total
56
50
PSPRS - Fire
Pension
Health
Inactive employees or beneficiaries currently receiving benefits
3
3
Inactive employees entitled to but not yet receiving benefits
5
2
Active employees
19
19
Total
27
24
Contributions – State Statutes establish the pension contribution requirements for active PSPRS
employees. In accordance with state statutes, annual actuarial valuations determine employer contribution
requirements for pension and health insurance premium benefits. The combined active member and
employer contribution rates are expected to finance the costs of benefits employees earn during the year,
with an additional amount to finance any unfunded accrued liability. Contribution rates for the year ended
June 30, 2025, are indicated below. Rates are a percentage of active members’ annual covered payroll.
PSPRS Police
7.65%
34.19%
0.38%
PSPRS Tier 3 risk pool
8.63%
8.63%
0.12%
Active member -
Pension
City - Pension
City-Health
insurance
premium
PSPRS Fire
7.65%
15.70%
0.33%
In addition, statute required the City to contribute at the actuarially determined rate of 16.86% for police
and 8% for fire of annual covered payroll of retired members who worked for the City in positions that an
employee who contributes to the PSPRS would typically fill and employees participating in the PSPRS
Tier 3 Risk Pool.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
59
Note 9.
Pensions and Other Postemployment Benefits, Continued
The City’s contributions to the plans for the year ended June 30, 2025, were:
PSPRS - Police
Pension
PSPRS
5,162,754
$
14,502
$
PSPRS Tier 3 risk pool
59,258
824
Health
insurance
premium
benefit
PSPRS - Fire
Pension
PSPRS
446,412
$
9,383
$
PSPRS Tier 3 risk pool
64,270
894
Health
insurance
premium
benefit
During fiscal year 2025, the City paid for PSPRS pension and OPEB contributions 100% from the general
fund.
Liability – At June 30, 2025, the City reported the following assets and liabilities.
Net pension
Net OPEB
(asset) liability
(asset) liability
PSPRS Police
3,563,066
$
(119,657)
$
PSPRS Fire
245,536
$
(105,282)
$
The net assets and net liabilities were measured as of June 30, 2024, and the total liability used to
calculate the net asset or liability was determined by an actuarial valuation as of that date.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
60
Note 9.
Pensions and Other Postemployment Benefits, Continued
Actuarial assumptions – The significant actuarial assumptions used to measure the total pension/OPEB
liability are as follows:
Actuarial valuation date
June 30, 2024
Actuarial cost method
Entry Age Normal
Investment rate of return
7.2%
Wage inflation
3.0 – 6.25% for pensions/not applicable for OPEB
Price inflation
2.5% for pensions/not applicable for OPEB
Cost-of-living adjustment
benefit increase
1.85% for pensions/not applicable for OPEB
Mortality rates
PubS-2010 tables.
Healthcare cost trend rate
Not applicable
Actuarial assumptions used in the June 30, 2024, valuation were based on the results of an actuarial
experience study for the 5-year period ended June 30, 2021.
The long-term expected rate of return on PSPRS plan investments was determined to be 7.2 using a
building-block method in which best-estimate ranges of expected future real rates of return (expected
returns, net of plan investment expenses and inflation) are developed for each major asset class. The
target allocation and best estimates of geometric real rates of return for each major asset class are
summarized in the following table:
Asset Class
Target
Allocation
Long-Term
Expected
Geometric Real
Rate of Return
U.S. Public Equity
24.00%
3.62%
International Public Equity
16.00%
4.47%
Global Private Equity
27.00%
7.05%
Core Bonds
6.00%
2.44%
Private credit
20.00%
6.24%
Diversifying Strategies
5.00%
3.15%
Cash - Mellon
2.00%
0.89%
Total
100.00%
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
61
Note 9.
Pensions and Other Postemployment Benefits, Continued
Discount Rate –At June 30, 2024, the discount rate used to measure the PSPRS total pension/OPEB
liability was 7.20 percent. The projection of cash flows used to determine the discount rate assumed that
plan member contributions will be made at the current contribution rate and that employer contributions
will be made at rates equal to the difference between actuarially determined contribution rates and the
member rate. Based on these assumptions, the plans’ fiduciary net position was projected to be available
to make all projected future benefit payments of current plan members. Therefore, the long-term expected
rate of return on plan investments was applied to all periods of projected benefit payments to determine
the total pension/OPEB liability.
Changes in the net pension/OPEB liability
PSPRS-Police
Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability
(a) - (b)
Total OPEB
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net OPEB
Liability
(a) - (b)
Balances at June 30, 2024
31,141,914
$
24,004,764
$
7,137,150
$
422,737
$
499,916
$
(77,179)
$
Changes for the year:
Service cost
579,392
-
579,392
9,742
-
9,742
Interest on total pension/OPEB liability
2,228,823
-
2,228,823
30,460
-
30,460
Difference between expected and
(237,986)
-
(237,986)
(25,323)
-
(25,323)
Changes of assumptions
-
-
-
-
-
-
Contributions - employer
-
3,037,962
(3,037,962)
-
8,548
(8,548)
Contributions - employee
-
378,917
(378,917)
-
-
-
Net investment income
-
2,652,551
(2,652,551)
-
49,106
(49,106)
Benefit payments, including refunds
of employee contributions
(1,530,874)
(1,530,874)
-
(18,844)
(18,844)
-
Plan administrative expenses
-
(17,918)
17,918
-
(297)
297
Other changes*
-
92,801
(92,801)
-
-
-
Net changes
1,039,355
4,613,439
(3,574,084)
(3,965)
38,513
(42,478)
Balances at June 30, 2025
32,181,269
$
28,618,203
$
3,563,066
$
418,772
$
538,429
$
(119,657)
$
actual experience in the measurement of
the pension/OPEB liability
Health insurance premium benefit
Pension
Increase (decrease)
Increase (decrease)
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
62
Note 9.
Pensions and Other Postemployment Benefits, Continued
PSPRS-Fire
Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability
(a) - (b)
Total OPEB
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net OPEB
Liability
(a) - (b)
Balances at June 30, 2024
12,622,099
$
12,398,272
$
223,827
$
148,347
$
238,310
$
(89,963)
$
Changes for the year:
Service cost
460,502
-
460,502
8,719
-
8,719
Interest on total pension/OPEB liability
936,482
-
936,482
11,309
-
11,309
Difference between expected and
709,546
-
709,546
(4,569)
-
(4,569)
Contributions - employer
-
644,172
(644,172)
-
7,147
(7,147)
Contributions - employee
-
144,419
(144,419)
-
-
-
Net investment income
-
1,304,436
(1,304,436)
-
23,765
(23,765)
Benefit payments, including refunds
of employee contributions
(151,821)
(151,821)
-
-
-
-
Plan administrative expenses
-
(8,206)
8,206
(134)
134
Net changes
1,954,709
1,933,000
21,709
15,459
30,778
(15,319)
Adjustment to beginning of year
-
-
-
-
-
-
Balances at June 30, 2025
14,576,808
$
14,331,272
$
245,536
$
163,806
$
269,088
$
(105,282)
$
actual experience in the measurement of
the pension/OPEB liability
Pension
Increase (decrease)
Health insurance premium benefit
Increase (decrease)
Sensitivity of the City’s net pension/OPEB (asset) liability to changes in the discount rate – The
following table presents the City's net pension/OPEB (assets) liabilities calculated using the discount rate
of 7.2%, as well as what the City's net pension/OPEB (assets) liability would be if it were calculated
using a discount rate that is 1 percentage point lower or 1 percentage point higher than the current rate:
1% Decrease
Discount Rate
1% Increase
(6.20%)
(7.20%)
(8.20%)
PSPRS-Police
Net pension (asset) / liability
8,010,589
$
3,563,066
$
(57,781)
$
Net OPEB (asset)/ liability
(72,837)
(119,657)
(159,003)
PSPRS-Fire
Net pension (asset) / liability
2,676,894
$
245,536
$
(1,713,425)
$
Net OPEB (asset)/ liability
(83,241)
(105,282)
(123,779)
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
63
Note 9.
Pensions and Other Postemployment Benefits, Continued
Plan fiduciary net position – Detailed information about the plans’ fiduciary net position is available in
the separately issued PSPRS financial report.
Expense – For the year ended June 30, 2025, the City recognized the following pension and OPEB
expense:
Pension expense
OPEB expense
PSPRS Police
1,040,127
$
(19,579)
$
PSPRS Fire
294,115
$
(7,176)
$
Deferred outflows/inflows of resources – At June 30, 2025, the City reported deferred outflows of
resources and deferred inflows of resources related to pensions and OPEB from the following sources:
PSPRS - Police
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between expected and actual experience
728,030
$
244,083
$
38,380
$
99,540
$
Changes in assumptions
221,951
-
3,862
-
-
408,972
-
5,037
Contributions subsequent to the measurement date
5,162,754
-
14,502
-
Total
6,112,735
$
653,055
$
56,744
$
104,577
$
Net difference between projected and actual earnings on
pension/OPEB plan investments
Pension
Health Insurance Premium Benefit
PSPRS - Fire
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between expected and actual experience
1,058,961
$
1,018,400
$
-
$
47,501
$
Changes in assumptions
153,424
-
1,544
4,899
-
177,196
-
2,312
Contributions subsequent to the measurement date
446,412
-
9,383
-
Total
1,658,797
$
1,195,596
$
10,927
$
54,712
$
Net difference between projected and actual earnings on
pension/OPEB plan investments
Pension
Health Insurance Premium Benefit
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
64
Note 9.
Pensions and Other Postemployment Benefits, Continued
The amounts reported as deferred outflows of resources related to pensions and OPEB resulting from City
contributions subsequent to the measurement date will be recognized as an increase in the net asset or a
reduction of the net liability in the year ending June 30, 2026. Other amounts reported as deferred
outflows of resources and deferred inflows of resources related to pensions and OPEB will be recognized
as expenses as follows:
Year Ended
June 30
Pension
Health
Insurance
Premium
Benefit
2026
68,959
$
(28,903)
$
2027
584,896
(12,454)
2028
(185,538)
(18,279)
2029
(171,391)
(2,699)
2030
-
-
Thereafter
-
-
PSPRS - Police
Pension
Health
Insurance
Premium
Benefit
(173,735)
$
(11,997)
$
152,230
(5,007)
(66,310)
(10,089)
(16,976)
(8,792)
76,300
(5,955)
45,280
(11,328)
PSPRS - Fire
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
65
Note 10.
Risk Management
The City is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets;
errors and omissions; and natural disasters.
The City’s insurance protection is provided by the Arizona Risk Retention Pool, of which the City is a
participating member. The limit for basic coverage is $2,000,000 per occurrence on a claims made basis.
Excess coverage is for an additional $8,000,000 per occurrence on a follow form, claims made basis. The
aggregate limit is also $2,000,000. The Arizona Risk Retention Pool is structured such that member
premiums are based on an actuarial review that will provide adequate reserves to allow the Pool to meet
its expected financial obligations. The Pool has the authority to assess its members additional premiums
should reserves and annual premiums be insufficient to meet the Pool’s obligations. No significant
reduction in insurance coverage occurred during the year and no settlements exceeded insurance coverage
during any of the past three fiscal years.
The City is self-insured through the Arizona Metropolitan Trust (AzMT) for employee’s medical, dental,
life and employee assistance program coverage (EAP). AzMT is a self-insured benefits pool established
pursuant to A.R.S. 11-952 et. seq. that provides coverage for each of its member entities. The City pays a
monthly premium to AzMT for the employee’s medical, dental, life and EAP coverage. AzMT reinsures
through commercial companies for claims in excess of specified and aggregate amounts.
The City is insured by Arizona Municipal Workers Compensation Pool for potential worker related
accidents.
Note 11.
Contingent Liabilities and Significant Commitments
The City is contingently liable with respect to lawsuits and other claims incidental to the ordinary course
of its operations. In the opinion of City management, such matters will not have a material adverse effect
on the City’s financial position at June 30, 2025.
The City received federal funding for specific purposes that are subject to review and audit by the grantor
agencies. Such audits could result in disallowances under the terms of the grants. There are no required
disbursements identified or recorded at the date of these financial statements.
As of June 30, 2025 the City had the following amounts encumbered for unperformed contracts to be
completed after June 30, 2025: General Fund $324,000, Streets (HURF) $478,000, Water $2,129,000, and
Sewer $33,000.
CITY OF EL MIRAGE, ARIZONA
Notes to the Financial Statements
June 30, 2025
66
Note 11.
Contingent Liabilities and Significant Commitments, Continued
At year end, the City had the following major construction projects/commitments open:
Project
Estimated Cost
Construction
in Progress
Dysart Road Roadway Widening
324,000
$
18,624
$
Water Main Replacement
232,000
34,714
Water Production Facility Rehab Program
800,000
366,055
Wastewater Reclamation Facility Design
1,029,000
995,905
67
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Schedule of the Proportionate Share of the Net Pension Liability
June 30, 2025
See accompanying notes to pension/OPEB plan schedules
68
ASRS - Pension
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
(2024)
(2023)
(2022)
(2021)
(2020)
(2019)
(2018)
(2018)
(2018)
(2018)
Proportion of the net pension liability
(asset)
0.070180%
0.064544%
0.064460%
0.058730%
0.059500%
0.058300%
0.059200%
0.059400%
0.061520%
0.061230%
Proportionate share of the net pension
liability (asset)
11,229,856
$
10,443,505
$
10,521,304
$
7,716,861
$
10,309,279
$
8,483,328
$
8,256,317
$
9,253,362
$
9,929,946
$
9,537,628
$
Covered payroll
9,804,000
$
8,290,720
$
7,928,360
$
6,873,556
$
6,381,844
$
5,982,621
$
5,832,827
$
5,699,811
$
5,570,055
$
5,677,172
$
Proportionate share of the net pension
liability (asset) as a percentage of its
covered payroll
114.54%
125.97%
132.70%
112.27%
161.54%
141.80%
141.55%
162.35%
178.27%
168.00%
Plan fiduciary net position as a percentage
of the total pension liability
76.93%
75.47%
74.26%
78.58%
69.33%
73.24%
73.40%
69.92%
67.06%
68.35%
(Measurement Date)
Reporting Fiscal Year
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Schedule of the Proportionate Share of the Net OPEB Liability
June 30, 2025
See accompanying notes to pension/OPEB plan schedules
69
ASRS - Health insurance premium benefit
2025
2024
2023
2022
2021
2020
2019
2018
2017
(2024)
(2023)
(2022)
(2021)
(2020)
(2019)
(2018)
(2017)
(2016)
Proportion of the net OPEB (asset)
0.068470%
0.063178%
0.064210%
0.058410%
0.059600%
0.058420%
0.059360%
0.059340%
0.059337%
Proportionate share of the net OPEB (asset)
(413,715)
$
(341,126)
$
(358,355)
$
(284,578)
$
(42,197)
$
(16,145)
$
(21,375)
$
(32,305)
$
(17,158)
$
Covered payroll
9,804,000
$
8,290,720
$
7,928,360
$
6,873,556
$
0
6,381,844
$
5,982,624
$
5,832,827
$
5,699,811
$
5,570,055
$
Proportionate share of the net OPEB (asset) as a
percentage of its covered payroll
-4.22%
-4.11%
-4.52%
-4.14%
-0.66%
-0.27%
-0.37%
-0.57%
-0.31%
Plan fiduciary net position as a percentage of the total
OPEB liability
137.51%
134.37%
137.79%
130.24%
104.33%
101.62%
102.20%
103.57%
98.02%
(Measurement Date)
Reporting Fiscal Year
ASRS - Long-term disability
2025
2024
2023
2022
2021
2020
2019
2018
2017
(2024)
(2023)
(2022)
(2021)
(2020)
(2019)
(2018)
(2017)
(2016)
Proportion of the net OPEB (asset)
0.069070%
0.063840%
0.064260%
0.058490%
0.059500%
0.058320%
0.059270%
0.059190%
0.059191%
Proportionate share of the net OPEB (asset)
1,801
$
8,365
$
5,935
$
12,076
$
45,137
$
37,992
$
30,969
$
21,455
$
21,271
$
Covered payroll
9,804,000
$
8,290,720
$
7,928,360
$
6,873,556
$
6,381,844
$
5,982,621
$
5,832,827
$
5,699,811
$
5,570,055
$
Proportionate share of the net OPEB (asset) as a
percentage of its covered payroll
0.02%
0.10%
0.07%
0.18%
0.71%
0.64%
0.53%
0.38%
0.38%
Plan fiduciary net position as a percentage of the total
OPEB liability
98.77%
93.70%
95.40%
90.38%
68.01%
72.85%
77.83%
84.44%
85.17%
(Measurement Date)
Reporting Fiscal Year
Note: In accordance with GASB 75, employers will need to disclose a 10-year history for the OPEB schedules above. Additional information will be displayed as
it becomes available.
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Schedule of Changes in the Net Pension Liability and Related Ratios
June 30, 2025
See accompanying notes to pension/OPEB plan schedules
70
PSPRS Police - Pension
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
(2024)
(2023)
(2022)
(2021)
(2020)
(2019)
(2018)
(2017)
(2016)
(2015)
Total pension liability
Service cost
579,392
$
666,373
$
686,760
$
744,909
$
766,394
$
736,361
$
611,179
$
641,361
$
579,406
$
530,107
$
Interest on total pension liability
2,228,823
2,169,061
2,036,582
1,873,509
1,722,174
1,577,961
1,289,327
1,245,009
1,108,770
1,006,969
Changes of benefit terms
-
-
-
-
-
-
-
127,782
894,728
-
Difference between expected and actual
experience of the total net pension liability (237,986)
(156,223)
770,184
760,793
582,250
(51,194)
2,176,715
(760,486)
(247,754)
292,348
Changes of assumptions
-
-
294,812
-
-
728,190
-
143,402
683,819
-
Benefit payments, including refunds of
employee contributions
(1,530,874)
(1,993,547)
(1,087,427)
(1,086,951)
(865,527)
(641,925)
(573,147)
(544,380)
(604,179)
(510,323)
Net change in total pension liability
1,039,355
685,664
2,700,911
2,292,260
2,205,291
2,349,393
3,504,074
852,688
2,414,790
1,319,101
Total pension liability - beginning
31,141,914
30,456,250
27,755,339
25,463,079
23,257,788
20,908,395
17,404,321
16,551,633
14,136,843
12,817,742
Total pension liability - ending (a)
32,181,269
$
31,141,914
$
30,456,250
$
27,755,339
$
25,463,079
$
23,257,788
$
20,908,395
$
17,404,321
$
16,551,633
$
14,136,843
$
Plan fiduciary net position
Contributions - employer
3,037,962
$
3,341,062
$
3,210,566
$
1,253,338
$
1,326,972
$
1,583,042
$
1,365,177
$
798,249
$
809,325
$
593,877
$
Contributions - employee
378,917
234,695
286,492
421,831
390,184
327,451
364,283
454,373
346,149
321,510
Net investment income
2,652,551
1,625,555
(836,393)
4,145,272
177,191
649,317
739,044
1,044,757
47,376
273,401
Benefit payments, including refunds of
employee contributions
(1,530,874)
(1,993,547)
(1,087,427)
(1,086,951)
(865,527)
(641,925)
(573,147)
(544,380)
(604,179)
(510,323)
Hall/Parker Settlement
-
-
-
-
-
(417,731)
Administrative Expense
(17,918)
(13,264)
(15,064)
(19,257)
(14,447)
(12,273)
(11,948)
(9,644)
(7,217)
(7,057)
Other (net transfer)
92,801
-
-
-
-
-
34,476
(92,977)
15,359
23,149
Net change in plan fiduciary net position
4,613,439
3,194,501
1,558,174
4,714,233
1,014,373
1,905,612
1,500,154
1,650,378
606,813
694,557
Plan fiduciary net position - beginning
24,004,764
20,810,263
19,252,089
14,537,856
13,523,482
11,625,612
10,125,458
8,475,080
7,868,267
7,173,710
Adjustment to beginning of year
-
-
-
-
1
(7,742)
-
-
-
-
Plan fiduciary net position - ending (b)
28,618,203
$
24,004,764
$
20,810,263
$
19,252,089
$
14,537,856
$
13,523,482
$
11,625,612
$
10,125,458
$
8,475,080
$
7,868,267
$
Net pension liability - ending (a) - (b)
3,563,066
$
7,137,150
$
9,645,987
$
8,503,250
$
10,925,223
$
9,734,306
$
9,282,783
$
7,278,863
$
8,076,553
$
6,268,576
$
Plan fiduciary net position as a percentage
of the total pension liability
88.93%
77.08%
68.33%
69.36%
57.09%
58.15%
55.60%
58.18%
51.20%
55.66%
Covered payroll
1,990,241
$
2,192,167
$
2,849,265
$
2,848,048
$
3,147,689
$
3,162,313
$
2,733,357
$
2,824,133
$
2,968,270
$
2,769,201
$
Net pension liability as a percentage of
covered payroll
179.03%
325.58%
338.54%
298.56%
347.09%
307.82%
339.61%
257.74%
272.10%
226.37%
(Measurement Date)
Reporting Fiscal Year
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Schedule of Changes in the Net Pension Liability and Related Ratios
June 30, 2025
See accompanying notes to pension/OPEB plan schedules
71
PSPRS Fire - Pension
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
(2024)
(2023)
(2022)
(2021)
(2020)
(2019)
(2018)
(2017)
(2016)
(2015)
Total pension liability
Service cost
460,502
$
574,233
$
507,714
$
437,216
$
408,259
$
443,749
$
414,433
$
386,340
$
317,068
$
336,932
$
Interest on total pension liability
936,482
915,819
830,407
725,027
646,493
570,104
529,468
505,857
465,137
400,223
Changes of benefit terms
-
-
-
-
-
-
-
67,195
625,097
-
Difference between expected and actual
experience of the total net pension liability
709,546
(936,281)
68,434
365,884
151,811
147,078
(423,180)
(386,730)
(757,647)
270,625
Changes of assumptions
-
-
26,621
-
-
194,141
-
20,032
278,976
-
Benefit payments, including refunds of
employee contributions
(151,821)
(154,282)
(156,589)
(153,518)
(165,904)
(169,342)
(246,904)
(146,164)
(141,470)
(200,362)
Net change in total pension liability
1,954,709
399,489
1,276,587
1,374,609
1,040,659
1,185,730
273,817
446,530
787,161
807,418
Total pension liability - beginning
12,622,099
12,222,610
10,946,023
9,571,414
8,530,755
7,345,025
7,071,208
6,624,678
5,837,517
5,030,099
Total pension liability - ending (a)
14,576,808
$
12,622,099
$
12,222,610
$
10,946,023
$
9,571,414
$
8,530,755
$
7,345,025
$
7,071,208
$
6,624,678
$
5,837,517
$
Plan fiduciary net position
Contributions - employer
644,172
$
729,196
$
668,738
$
424,177
$
380,514
$
800,812
$
668,971
$
330,799
$
281,360
$
225,909
$
Contributions - employee
144,419
160,262
200,811
197,135
172,106
168,004
167,731
187,125
202,337
199,018
Net investment income
1,304,436
858,811
(438,265)
2,265,911
96,947
349,715
397,321
572,712
27,547
159,295
Benefit payments, including refunds of
employee contributions
(151,821)
(154,282)
(156,589)
(153,518)
(165,904)
(169,342)
(246,904)
(146,164)
(141,470)
(200,362)
Hall/Parker Settlement
-
-
-
-
-
-
(232,700)
-
-
-
Pension Plan Administrative Expense
(8,206)
(6,495)
(7,898)
(10,561)
(7,905)
(7,073)
(6,747)
(5,468)
(4,363)
(4,277)
Other (net transfer)
-
(101,197)
-
-
-
-
(11,097)
(146,642)
(223,413)
244,344
Net change in plan fiduciary net position
1,933,000
1,486,295
266,797
2,723,144
475,758
1,142,116
736,575
792,362
141,998
623,927
Plan fiduciary net position - beginning
12,398,272
10,911,977
10,645,180
7,922,036
7,455,911
6,315,711
5,579,136
4,786,774
4,644,776
4,020,849
Adjustment to beginning of year
-
-
-
-
(9,633)
(1,916)
-
-
-
-
Plan fiduciary net position - ending (b)
14,331,272
$
12,398,272
$
10,911,977
$
10,645,180
$
7,922,036
$
7,455,911
$
6,315,711
$
5,579,136
$
4,786,774
$
4,644,776
$
Net pension liability - ending (a) - (b)
245,536
$
223,827
$
1,310,633
$
300,843
$
1,649,378
$
1,074,844
$
1,029,314
$
1,492,072
$
1,837,904
$
1,192,741
$
Plan fiduciary net position as a percentage
of the total pension liability
98.32%
98.23%
89.28%
97.25%
82.77%
87.40%
85.99%
78.90%
72.26%
79.57%
Covered payroll
2,104,034
$
1,858,197
$
2,264,077
$
2,141,072
$
1,877,161
$
1,773,739
$
1,812,916
$
1,725,504
$
1,687,430
$
1,765,349
$
Net pension liability as a percentage of
covered payroll
11.67%
12.05%
57.89%
14.05%
87.87%
60.60%
56.78%
86.47%
108.92%
67.56%
(Measurement Date)
Reporting Fiscal Year
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Schedule of Changes in the Net OPEB Liability and Related Ratios
June 30, 2025
See accompanying notes to pension/OPEB plan schedules
72
PSPRS Police
Health Insurance Premium Benefit
2025
2024
2023
2022
2021
2020
2019
2018
(2024)
(2023)
(2022)
(2021)
(2020)
(2019)
(2018)
(2017)
Total OPEB liability
Service cost
9,742
$
12,149
$
14,040
$
15,932
$
16,051
$
10,113
$
10,387
$
10,167
$
Interest on total OPEB liability
30,460
31,797
26,208
29,212
24,239
27,919
25,869
27,320
Changes of benefit terms
-
-
-
-
-
-
-
3,290
Difference between expected and actual
experience of the total net OPEB liability
(25,323)
(42,320)
53,841
(72,950)
40,104
(92,103)
(8,286)
(11,227)
Changes of assumptions or other inputs
-
-
5,736
-
-
3,972
-
(38,439)
Benefit payments
(18,844)
(16,741)
(13,894)
(9,002)
(6,323)
(4,828)
(5,543)
(6,280)
Net change in total OPEB liability
(3,965)
(15,115)
85,931
(36,808)
74,071
(54,927)
22,427
(15,169)
Total OPEB liability - beginning
422,737
437,852
351,921
388,729
314,658
369,585
347,158
362,327
Total OPEB liability - ending (a)
418,772
$
422,737
$
437,852
$
351,921
$
388,729
$
314,658
$
369,585
$
347,158
$
Plan fiduciary net position
Contributions - employer
8,548
$
5,315
$
11,861
$
10,770
$
13,025
$
12,412
$
6,289
$
11,219
$
Net investment income
49,106
35,341
(19,292)
106,448
4,760
18,821
22,528
33,784
Benefit payments
(18,844)
(16,741)
(13,894)
(9,002)
(6,323)
(4,828)
(5,543)
(6,280)
Administrative expense
(297)
(307)
(343)
(438)
(387)
(325)
(343)
(298)
Net change in plan fiduciary net position
38,513
23,608
(21,668)
107,778
11,075
26,080
22,931
38,425
Plan fiduciary net position - beginning
499,916
476,308
497,976
390,198
379,123
345,301
322,370
283,945
Adjustment to beginning of year
-
-
-
-
-
7,742
-
-
Plan fiduciary net position - ending (b)
538,429
$
499,916
$
476,308
$
497,976
$
390,198
$
379,123
$
345,301
$
322,370
$
Net OPEB liability - ending (a) - (b)
(119,657)
$
(77,179)
$
(38,456)
$
(146,055)
$
(1,469)
$
(64,465)
$
24,284
$
24,788
$
Plan fiduciary net position as a percentage of
the total OPEB liability
128.57%
118.26%
108.78%
141.50%
100.38%
120.49%
93.43%
92.86%
Covered payroll
1,990,241
$
2,192,167
$
2,849,265
$
2,848,048
$
3,147,689
$
3,162,313
$
2,733,357
$
2,824,133
$
Net OPEB (asset) liability as a percentage of
covered payroll
-6.01%
-3.52%
-1.35%
-5.13%
-0.05%
-2.04%
0.89%
0.88%
(Measurement Date)
Reporting Fiscal Year
Note: In accordance with GASB 75, employers will need to disclose a 10-year history for the OPEB schedule above. Additional information will be displayed as it becomes available.
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Schedule of Changes in the Net OPEB Liability and Related Ratios
June 30, 2025
See accompanying notes to pension/OPEB plan schedules
73
PSPRS Fire
Health Insurance Premium Benefit
2025
2024
2023
2022
2021
2020
2019
2018
(2024)
(2023)
(2022)
(2021)
(2020)
(2019)
(2018)
(2017)
Total OPEB liability
Service cost
8,719
$
9,485
$
8,531
$
8,136
$
7,878
$
5,801
$
6,164
$
5,694
$
Interest on total OPEB liability
11,309
10,683
9,795
8,918
7,919
8,677
8,463
9,656
Changes of benefit terms
-
-
-
-
-
-
-
1,628
Difference between expected and actual
experience of the total net OPEB liability
(4,569)
(10,716)
(6,211)
(5,430)
(898)
(28,153)
(14,462)
(15,726)
Changes of assumptions or other inputs
-
-
1,127
-
-
1,352
-
(15,859)
Net change in total OPEB liability
15,459
9,452
13,242
11,624
14,899
(12,323)
165
(14,607)
Total OPEB liability - beginning
148,347
138,895
125,653
114,029
99,130
111,453
111,288
125,895
Total OPEB liability - ending (a)
163,806
$
148,347
$
138,895
$
125,653
$
114,029
$
99,130
$
111,453
$
111,288
$
Plan fiduciary net position
Contributions - employer
7,147
$
2,327
$
2,489
$
3,935
$
2,827
$
3,492
$
4,208
$
5,693
$
Net investment income
23,765
16,556
(8,825)
47,825
2,136
8,519
10,009
14,588
Administrative expense
(134)
(133)
(157)
(197)
(174)
(147)
(152)
(130)
Net change in plan fiduciary net position
30,778
18,750
(6,493)
51,563
4,789
11,864
14,065
20,151
Plan fiduciary net position - beginning
238,310
219,560
226,053
174,490
169,701
155,922
141,857
121,706
Plan fiduciary net position - ending (b)
269,088
$
238,310
$
219,560
$
226,053
$
174,490
$
169,701
$
155,922
$
141,857
$
Net OPEB (asset) liability - ending (a) - (b)
(105,282)
$
(89,963)
$
(80,665)
$
(100,400)
$
(60,461)
$
(70,571)
$
(44,469)
$
(30,569)
$
Plan fiduciary net position as a percentage of
the total OPEB liability
164.27%
160.64%
158.08%
179.90%
153.02%
171.19%
139.90%
127.47%
Covered payroll
2,104,034
$
1,858,197
$
2,264,077
$
2,141,072
$
1,877,161
$
1,773,739
$
1,812,916
$
1,725,504
$
Net OPEB liability as a percentage of covered
payroll
-5.00%
-4.84%
-3.56%
-4.69%
-3.22%
-3.98%
-2.45%
-1.77%
(Measurement Date)
Reporting Fiscal Year
Note: In accordance with GASB 75, employers will need to disclose a 10-year history for the OPEB schedule above. Additional information will be displayed as it becomes available.
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Schedule of Pension/OPEB Contributions
June 30, 2025
See accompanying notes to pension/OPEB plan schedules
74
ASRS - Pension
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Contractually required contribution
1,315,008
$
1,180,332
$
988,229
$
952,196
$
771,446
$
744,652
$
687,381
$
641,354
$
624,521
$
604,351
$
Contributions in relation to the contractually
required contribution
(1,315,008)
(1,180,332)
(988,229)
(952,196)
(771,446)
(744,652)
(687,381)
(641,354)
(624,521)
(604,351)
Contribution deficiency (excess)
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
Covered payroll
10,562,746
$
9,804,000
$
8,290,720
$
7,928,360
$
6,873,556
$
6,381,844
$
5,982,621
$
5,832,827
$
5,699,811
$
5,570,055
$
Contributions as a percentage of covered
payroll
12.45%
12.04%
11.92%
12.01%
11.22%
11.67%
11.49%
11.00%
10.96%
10.85%
Reporting Fiscal Year
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Schedule of Pension/OPEB Contributions
June 30, 2025
See accompanying notes to pension/OPEB plan schedules
75
ASRS - Health insurance premium benefit
2025
2024
2023
2022
2021
2020
2019
2018
2017
(2024)
(2023)
(2022)
(2021)
(2020)
(2019)
(2018)
(2017)
(2016)
Proportion of the net OPEB (asset)
0.068470%
0.063178%
0.064210%
0.058410%
0.059600%
0.058420%
0.059360%
0.059340%
0.059337%
Proportionate share of the net OPEB (asset)
(413,715)
$
(341,126)
$
(358,355)
$
(284,578)
$
(42,197)
$
(16,145)
$
(21,375)
$
(32,305)
$
(17,158)
$
Covered payroll
9,804,000
$
8,290,720
$
7,928,360
$
6,873,556
$
0
6,381,844
$
5,982,624
$
5,832,827
$
5,699,811
$
5,570,055
$
Proportionate share of the net OPEB (asset) as a
percentage of its covered payroll
-4.22%
-4.11%
-4.52%
-4.14%
-0.66%
-0.27%
-0.37%
-0.57%
-0.31%
Plan fiduciary net position as a percentage of the total
OPEB liability
137.51%
134.37%
137.79%
130.24%
104.33%
101.62%
102.20%
103.57%
98.02%
(Measurement Date)
Reporting Fiscal Year
ASRS - Long-term disability
2025
2024
2023
2022
2021
2020
2019
2018
2017
Contractually required contribution
16,369
$
14,285
$
11,607
$
15,064
$
11,919
$
10,906
$
9,691
$
9,405
$
8,050
$
Contributions in relation to the contractually required
contribution
(16,369)
(14,285)
(11,607)
(15,064)
(11,919)
(10,906)
(9,691)
(9,405)
(8,050)
Contribution deficiency (excess)
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
Covered payroll
10,562,746
$
9,804,000
$
8,290,720
$
7,928,360
$
6,873,556
$
6,381,844
$
5,982,621
$
5,832,827
$
5,699,811
$
Contributions as a percentage of covered payroll
0.15%
0.15%
0.14%
0.19%
0.17%
0.17%
0.16%
0.16%
0.14%
Reporting Fiscal Year
Note: In accordance with GASB 75, employers will need to disclose a 10-year history for the OPEB schedules above. Additional information will be displayed as it becomes available.
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Schedule of Pension/OPEB Contributions
June 30, 2025
See accompanying notes to pension/OPEB plan schedules
76
PSPRS Police-Pensions
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Actuarially determined contribution
1,304,754
$
1,237,962
$
1,541,062
$
1,410,566
$
1,253,338
$
1,326,972
$
1,183,042
$
1,365,177
$
798,249
$
809,325
$
Contributions in relation to the actuarially
determined contribution
(5,162,754)
(3,037,962)
(3,341,062)
(3,210,566)
(1,253,338)
(1,326,972)
(1,583,042)
(1,365,177)
(798,249)
(809,325)
Contribution deficiency (excess)
(3,858,000)
$
(1,800,000)
$
(1,800,000)
$
(1,800,000)
$
-
$
-
$
(400,000)
$
-
$
-
$
-
$
Covered payroll
3,816,187
$
1,990,241
$
2,192,167
$
2,849,265
$
2,848,048
$
3,147,689
$
3,162,313
$
2,733,357
$
2,824,133
$
2,968,270
$
Contributions as a percentage of covered
payroll
135.29%
152.64%
152.41%
112.68%
44.01%
42.16%
50.06%
49.95%
28.27%
27.27%
Reporting Fiscal Year
PSPRS Fire-Pensions
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Actuarially determined contribution
446,412
$
444,172
$
529,196
$
468,738
$
424,177
$
380,514
$
400,812
$
668,971
$
330,799
$
281,360
$
Contributions in relation to the actuarially
determined contribution
(446,412)
(644,172)
(729,196)
(668,738)
(424,177)
(380,514)
(800,812)
(668,971)
(330,799)
(281,360)
Contribution deficiency (excess)
-
$
(200,000)
$
(200,000)
$
(200,000)
$
-
$
-
$
(400,000)
$
-
$
-
$
-
$
Covered payroll
2,657,217
$
2,104,034
$
1,858,197
$
2,264,077
$
2,141,072
$
1,877,161
$
1,773,739
$
1,812,916
$
1,725,504
$
1,687,430
$
Contributions as a percentage of covered
payroll
16.80%
30.62%
39.24%
29.54%
19.81%
20.27%
45.15%
36.90%
19.17%
16.67%
Reporting Fiscal Year
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Schedule of Pension/OPEB Contributions
June 30, 2025
See accompanying notes to pension/OPEB plan schedules
77
PSPRS Police
Health Insurance Premium Benefit
2025
2024
2023
2022
2021
2020
2019
2018
2017
Actuarially determined contribution
14,502
$
8,548
$
5,315
$
11,861
$
10,770
$
13,025
$
12,412
$
6,289
$
11,219
$
Contributions in relation to the actuarially
determined contribution
(14,502)
(8,548)
(5,315)
(11,861)
(10,770)
(13,025)
(12,412)
(6,289)
(11,219)
Contribution deficiency (excess)
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
Covered payroll
3,816,187
$
1,990,241
$
2,192,167
$
2,849,265
$
2,848,048
$
3,147,689
$
3,162,313
$
2,733,357
$
2,824,133
$
Contributions as a percentage of covered
payroll
0.38%
0.43%
0.24%
0.42%
0.38%
0.41%
0.39%
0.23%
0.40%
Reporting Fiscal Year
PSPRS Fire
Health Insurance Premium Benefit
2025
2024
2023
2022
2021
2020
2019
2018
2017
Actuarially determined contribution
9,383
$
7,147
$
2,327
$
2,489
$
3,935
$
2,827
$
3,492
$
4,208
$
5,693
$
Contributions in relation to the actuarially
determined contribution
(9,383)
(7,147)
(2,327)
(2,489)
(3,935)
(2,827)
(3,492)
(4,208)
(5,693)
Contribution deficiency (excess)
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
Covered payroll
2,657,217
$
2,104,034
$
1,858,197
$
2,264,077
$
2,141,072
$
1,877,161
$
1,773,739
$
1,812,916
$
1,725,504
$
Contributions as a percentage of covered
payroll
0.35%
0.34%
0.13%
0.11%
0.18%
0.15%
0.20%
0.23%
0.33%
Reporting Fiscal Year
Note: In accordance with GASB 75, employers will need to disclose a 10-year history for the OPEB schedule above. Additional information will be displayed as it becomes available.
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Notes to Pension/OPEB Plan Schedules
June 30, 2025
78
Note 1.
Actuarially Determined Contribution Rates
Actuarially determined contribution rates for PSPRS are calculated as of June 30 two years prior to the
end of the fiscal year in which contributions are made. The actuarial methods and assumptions used to
establish the contribution requirements are as follows:
Actuarial cost method
Entry Age Normal
Amortization Method
Level Percent of Pay, Closed
Remaining Amortization Period
As of the 2023 actuarial valuation
15 years for underfunded liabilities; 20 years for excess
Asset valuation method
7-Year smoothed market; 80%/120% market corridor
Actuarial assumptions:
Investment rate of return
In the 2022 actuarial valuation, the investment rate of return was
decreased from 7.3% to 7.2%. In the 2019 actuarial valuation,
the investment rate of return was decreased from 7.4% to 7.3%.
In the 2017 actuarial valuation, the investment rate of return was
decreased from 7.5% to 7.4%. In the 2016 actuarial valuation,
the investment rate of return decreased from 7.85% to 7.5%. In
the 2013 actuarial valuation, the investment rate of return
decreased from 8.0% to 7.85%.
Projected salary increases
In the 2017 actuarial valuation, projected salary increases were
decreased from 4.0%-8.0% to 3.5%-7.5% In the 2014 actuarial
valuation, the projected salary increases were decreased from
4.5%-8.5% to 4.0%-8.0%. In the 2013 actuarial valuation,
projected salary increases were decreased from 5.0%-9.0% to
4.5%-8.5%
Wage growth
In the 2022 actuarial valuation, wage growth was changed from
3.5% to a range of 3.0 – 6.25%. In the 2017 actuarial valuation,
wage growth was decreased from 4% to 3.5%. In the 2014
actuarial valuation, wage growth was decreased from 4.5% to
4.0%. In the 2013 actuarial valuation, wage growth was
decreased from 5.0% to 4.5%
Retirement age
Experience-based table of rates that is specific to the type of
eligibility condition. Last updated for the 2012 valuation
pursuant to an experience study of the period July 1, 2006 - June
30, 2011.
Mortality
In the 2019 actuarial valuation, changed to PubS-2010 tables. In
the 2017 actuarial valuation, changed to RP-2014 tables, with
75% of MP-2016 fully generational projection scales. RP-2000
mortality table (adjusted by 105% for both males and females)
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Notes to Pension/OPEB Plan Schedules
June 30, 2025
79
Note 2.
Factors that Affect Trends
Arizona courts have ruled that provisions of a 2011 law that changed the mechanism for funding permanent
pension benefit increases and increased employee pension contribution rates were unconstitutional or a
breach of contract because those provisions apply to individuals who were members as of the law’s
effective date. As a result, the PSPRS changed benefit terms to reflect the prior mechanism for funding
permanent benefit increases for those members and revised actuarial assumptions to explicitly value future
permanent benefit increases. PSPRS also reduced those members’ employee contribution rates. These
changes are reflected in the plans’ pension liabilities for fiscal year 2015 (measurement date 2014) for
members who were retired as of the law’s effective date and fiscal year 2018 (measurement date 2017) for
members who retired or will retire after the law’s effective date. These changes also increased the PSPRS
required pension contributions beginning in fiscal year 2016 for members who were retired as of the law’s
effective date. These changes increased the PSPRS required contributions beginning in fiscal year 2019 to
cover members who retired or will retire after the law’s effective date.
80
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81
REQUIRED SUPPLEMENTARY INFORMATION
BUDGETARY COMPARISON SCHEDULES
FOR THE FOLLOWING MAJOR FUNDS:
x
The General Fund is the City’s primary operating fund. It accounts for all financial resources of
the general government, except for those accounted for in another fund.
x
The Special Projects Fund is used to account for the funding for various City special projects
CITY OF EL MIRAGE, ARIZONA
GENERAL FUND
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 2025
See accompanying notes to budgetary comparison schedule
82
Non-GAAP
Variance with
Original
Final
Actual
Final Budget
REVENUES
Taxes:
City sales tax
16,000,000
$
16,000,000
$
19,576,235
$
3,576,235
$
Property taxes
3,070,000
3,070,000
2,998,595
(71,405)
Franchise taxes
950,000
950,000
1,237,374
287,374
Total taxes
20,020,000
20,020,000
23,812,204
3,792,204
Licenses and permits
895,000
895,000
3,040,847
2,145,847
Intergovernmental revenues:
State sales tax
5,585,000
5,585,000
5,506,723
(78,277)
Auto lieu tax
1,750,000
1,750,000
1,954,726
204,726
Urban revenue sharing
7,730,000
7,730,000
7,626,297
(103,703)
Other intergovernmental revenues
70,000
70,000
118,455
48,455
Total intergovernmental
15,135,000
15,135,000
15,206,201
71,201
Charges for services
290,000
290,000
424,578
134,578
Fees
1,430,000
1,430,000
1,422,062
(7,938)
Fines and forfeitures
20,000
20,000
23,252
3,252
Interest earnings
800,000
800,000
3,904,186
3,104,186
Other revenues:
Contributions and donations
-
-
813
813
Miscellaneous revenues
165,000
165,000
242,241
77,241
Total other revenues
165,000
165,000
243,054
78,054
Total revenues
38,755,000
38,755,000
48,076,384
9,321,384
EXPENDITURES
Current:
General government:
Administration
2,097,000
2,097,000
1,832,428
264,572
City clerk
382,000
382,000
355,198
26,802
Community development
2,135,000
2,135,000
1,871,821
263,179
Finance
1,021,000
1,021,000
847,400
173,600
Human resources
783,000
783,000
656,200
126,800
Information systems
1,366,000
1,366,000
1,279,314
86,686
Mayor and council
331,000
334,000
333,850
150
Nondepartmental
11,003,000
10,988,500
5,141,301
5,847,199
Parks and recreation
2,673,000
2,684,500
2,442,247
242,253
Public works
1,528,000
1,528,000
1,675,925
(147,925)
Total general government
23,319,000
23,319,000
16,435,684
6,883,316
(Continued)
Budgeted Amounts
CITY OF EL MIRAGE, ARIZONA
GENERAL FUND
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual (Continued)
For the Year Ended June 30, 2025
See accompanying notes to budgetary comparison schedule
83
Non-GAAP
Variance with
Original
Final
Actual
Final Budget
Public safety:
Police
14,867,000
14,867,000
12,783,157
2,083,843
Fire
6,810,000
6,810,000
6,645,496
164,504
Total public safety
21,677,000
21,677,000
19,428,653
2,248,347
Capital outlay
5,767,000
5,624,000
2,704,310
2,919,690
Debt Service
Principal
-
-
368,999
(368,999)
Interest and fiscal charges
-
-
33,901
(33,901)
-
-
402,900
(402,900)
Total expenditures
50,763,000
50,620,000
38,971,547
11,648,453
Excess (deficiency) of revenues over expenditures
(12,008,000)
(11,865,000)
9,104,837
20,969,837
OTHER FINANCING SOURCES (USES)
Debt issued
-
-
25,543
25,543
Sale of assets
30,000
30,000
42,741
12,741
Transfers out
(2,430,000)
(2,430,000)
(2,430,000)
-
Transfers in
4,510,000
4,510,000
4,510,000
-
Total other financing sources and (uses)
2,110,000
2,110,000
2,148,284
38,284
Net change in fund balance
(9,898,000)
(9,755,000)
11,253,121
21,008,121
Fund balance, beginning of year
60,796,500
60,796,500
83,072,763
(22,276,263)
Fund balance, end of year
50,898,500
$
51,041,500
$
94,325,884
$
(1,268,142)
$
Budgeted Amounts
CITY OF EL MIRAGE, ARIZONA
Required Supplementary Information
Notes to General Fund Budget and Actual Schedules
June 30, 2025
84
The City budget is prepared on a basis consistent with accounting principles generally accepted in the
United States of America, except for certain activities reported in the General Fund that are budgeted
separately in a special revenue fund.
The following schedule reconciles the General Fund Non-GAAP Budget and Actual report to the
Statement of Revenues, Expenditures and Changes in Fund Balances for the General Fund:
Total
Total
Fund Balance
Revenues
Expenditures
End of Year
Schedule of Revenues, Expenditures and Changes in
Fund Balances - Budget and Actual - Non-GAAP
48,076,384
$
38,971,547
$
94,325,884
$
Activity budgeted as Court Special Revenue Fund
366,037
1,219,526
71,944
Statement of Revenues, Expenditures and Changes in
Fund Balances - General Fund - GAAP
48,442,421
$
40,191,073
$
94,397,828
$
General Fund
CITY OF EL MIRAGE, ARIZONA
SPECIAL PROJECTS
SPECIAL REVENUE FUND
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 2025
85
Variance with
Original
Final
Actual
Final Budget
REVENUES
Intergovernmental revenue
2,126,000
$
2,126,000
$
1,430,688
$
(695,312)
$
Investment earnings
-
-
62,078
62,078
Other revenues
10,000,000
10,000,000
19,320
(9,980,680)
Total revenues
12,126,000
12,126,000
1,512,086
(10,613,914)
EXPENDITURES
Current:
General government
10,200,000
14,286,000
10,025
14,275,975
Public safety
1,104,000
1,104,000
1,207,834
(103,834)
Capital outlay
822,000
738,000
123,778
614,222
Total expenditures
12,126,000
16,128,000
1,341,637
14,786,363
Excess (deficiency) of revenues
over (under) expenditures
-
(4,002,000)
170,449
4,172,449
Fund balance, beginning of year
837,000
837,000
1,106,226
269,226
Fund balance (deficit), end of year
837,000
$
(3,165,000)
$
1,276,675
$
4,441,675
$
Budgeted Amounts
86
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87
SUPPLEMENTARY INFORMATION
BUDGETARY COMPARISON SCHEDULES
MAJOR GOVERNMENTAL FUNDS
Capital Project Funds
Capital Project Funds are used to account for the purchase or construction of capital assets which are not
financed by the general, special revenue or enterprise funds.
x
The Streets (Capital Projects fund) is used to account for the construction and acquisition of
streets and street department facilities.
CITY OF EL MIRAGE, ARIZONA
STREETS (CAPITAL PROJECTS FUND)
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 2025
88
Variance with
Original
Final
Actual
Final Budget
REVENUES
Intergovernmental revenue
-
$
-
$
4,008,238
$
4,008,238
$
Investment earnings
-
-
440,117
440,117
Total revenues
-
-
4,448,355
4,448,355
EXPENDITURES
Capital outlay
10,405,000
7,820,000
5,487,545
2,332,455
Total expenditures
10,405,000
7,820,000
5,487,545
2,332,455
Excess (deficiency) of revenues
over (under) expenditures
(10,405,000)
(7,820,000)
(1,039,190)
6,780,810
Fund balance, beginning of year
10,405,000
10,405,000
9,444,640
(960,360)
Fund balance (deficit), end of year
-
$
2,585,000
$
8,405,450
$
5,820,450
$
Budgeted Amounts
89
SUPPLEMENTARY INFORMATION
COMBINING STATEMENTS
AND BUDGETARY COMPARISON SCHEDULES
NON-MAJOR GOVERNMENTAL FUNDS
Special Revenue Funds
Special Revenue Funds are used to account for specific revenues that are legally restricted to expenditures
for a particular purpose.
x
The Municipal Court Enhancement fund is used to account for the technology and functional
improvements of court operations.
x
The Dial-A-Ride (LTAF) fund is used to account for state funding for taxi voucher service and
street construction.
x
The Police Towing fund is used to account for charges for services to be used to enhance police
department operations.
x
The Community Development Block Grant fund is used to account for CDBG grant activities.
x
The Streets (HURF) Fund is used to account for state shared highway use tax revenues for street
improvements, maintenance, and capital additions.
Debt Service Funds
x
The Debt Service fund is used to account for the accumulation of resources and the payment of
long-term debt principal, interest, and related costs.
CITY OF EL MIRAGE, ARIZONA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
90
Municipal
Community
Court
Dial-A-Ride
Police
Development
Streets
Enhancement
(LTAF)
Towing
Block Grant
(HURF)
Debt Service
Total
ASSETS
Cash and cash equivalents
1,162,398
$
325,912
$
69,105
$
-
$
4,370,632
$
794,448
$
6,722,495
$
Receivables:
Taxes
-
-
-
-
-
63,105
63,105
Intergovernmental
-
-
-
14,254
278,672
-
292,926
Total assets
1,162,398
$
325,912
$
69,105
$
14,254
$
4,649,304
$
857,553
$
7,078,526
$
LIABILITIES
Accounts payable
250
$
10,477
$
322
$
3,361
$
117,401
$
-
$
131,811
$
Accrued wages and salaries
-
-
-
-
10,447
-
10,447
Customer deposits
1,313
-
-
-
-
-
1,313
Due to other funds
-
-
-
10,893
-
-
10,893
Total liabilities
1,563
10,477
322
14,254
127,848
-
154,464
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue-property taxes
-
-
-
-
-
34,384
34,384
Total deferred inflows of resources
-
-
-
-
-
34,384
34,384
FUND BALANCES
Restricted:
Public safety
-
-
68,783
-
-
-
68,783
Public works/streets
-
315,435
-
-
4,521,456
-
4,836,891
Debt service
-
-
-
-
-
823,169
823,169
Committed
1,160,835
-
-
-
-
-
1,160,835
Total fund balances
1,160,835
315,435
68,783
-
4,521,456
823,169
6,889,678
Total liabilities, deferred inflows of resources,
and fund balances
1,162,398
$
325,912
$
69,105
$
14,254
$
4,649,304
$
857,553
$
7,078,526
$
Special Revenue
CITY OF EL MIRAGE, ARIZONA
Combining Statement of Revenues, Expenditures and Changes in Fund Balance
Nonmajor Governmental Funds
For the Fiscal Year Ended June 30, 2025
91
Municipal
Community
Court
Dial-A-Ride
Police
Development
Streets
Enhancement
(LTAF)
Towing
Block Grant
(HURF)
Debt Service
Total
REVENUES
Property taxes
-
$
-
$
-
$
-
$
-
$
1,889,615
$
1,889,615
$
Intergovernmental
-
90,694
-
820,000
2,839,394
-
3,750,088
Fines and forfeitures
69,009
-
34,350
-
-
-
103,359
Investment earnings
40,745
15,755
3,202
-
152,978
55,084
267,764
Total revenues
109,754
106,449
37,552
820,000
2,992,372
1,944,699
6,010,826
EXPENDITURES
Current:
Public safety
2,673
-
37,226
-
-
-
39,899
Public works/streets
-
151,419
-
-
3,118,799
-
3,270,218
Capital outlay
57,709
-
-
820,000
329,308
-
1,207,017
Debt service:
Principal
-
-
-
-
-
1,380,000
1,380,000
Interest and fiscal charges
-
-
-
-
-
650,925
650,925
Total expenditures
60,382
151,419
37,226
820,000
3,448,107
2,030,925
6,548,059
Excess (deficiency) of revenues
over (under) expenditures
49,372
(44,970)
326
-
(455,735)
(86,226)
(537,233)
OTHER FINANCING
SOURCES (USES)
Transfers in
-
-
-
-
1,902,000
100,000
2,002,000
Total other financing
sources (uses):
-
-
-
-
1,902,000
100,000
2,002,000
Net change in fund balances
49,372
(44,970)
326
-
1,446,265
13,774
1,464,767
Fund balances, beginning of year
1,111,463
360,405
68,457
-
3,075,191
809,395
5,424,911
Fund balances, end of year
1,160,835
$
315,435
$
68,783
$
-
$
4,521,456
$
823,169
$
6,889,678
$
Special Revenue
CITY OF EL MIRAGE, ARIZONA
MUNICIPAL COURT ENCHANCEMENT
SPECIAL REVENUE FUND
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 2025
92
Variance with
Original
Final
Actual
Final Budget
REVENUES
Fines and forfeitures
55,000
$
55,000
$
69,009
$
14,009
$
Investment earnings
25,000
25,000
40,745
15,745
Total revenues
80,000
80,000
109,754
29,754
EXPENDITURES
Current:
Public safety
18,000
18,000
2,673
15,327
Capital outlay
557,000
497,000
57,709
439,291
Total expenditures
575,000
515,000
60,382
454,618
Excess (deficiency) of revenues
over (under) expenditures
(495,000)
(435,000)
49,372
484,372
Fund balance, beginning of year
1,590,000
1,590,000
1,111,463
(478,537)
Fund balance, end of year
1,095,000
$
1,155,000
$
1,160,835
$
5,835
$
Budgeted Amounts
CITY OF EL MIRAGE, ARIZONA
DIAL-A-RIDE (LTAF)
SPECIAL REVENUE FUND
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 2025
93
Variance with
Original
Final
Actual
Final Budget
REVENUES
Intergovernmental revenue
90,000
$
90,000
$
90,694
$
694
$
Investment earnings
-
-
15,755
15,755
Total revenues
90,000
90,000
106,449
16,449
EXPENDITURES
Current:
Public works/streets
300,000
300,000
151,419
148,581
Capital outlay
130,000
130,000
-
130,000
Total expenditures
430,000
430,000
151,419
278,581
Excess (deficiency) of revenues
over (under) expenditures
(340,000)
(340,000)
(44,970)
295,030
Fund balance, beginning of year
318,000
318,000
360,405
42,405
Fund balance (deficit), end of year
(22,000)
$
(22,000)
$
315,435
$
337,435
$
Budgeted Amounts
CITY OF EL MIRAGE, ARIZONA
POLICE TOWING
SPECIAL REVENUE FUND
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 2025
94
Variance with
Original
Final
Actual
Final Budget
REVENUES
Fines and forfeitures
25,000
$
25,000
$
34,350
$
9,350
$
Investment earnings
-
-
3,202
3,202
Total revenues
25,000
25,000
37,552
12,552
EXPENDITURES
Current:
Public safety
58,000
58,000
37,226
20,774
Total expenditures
58,000
58,000
37,226
20,774
Excess (deficiency) of revenues
over (under) expenditures
(33,000)
(33,000)
326
33,326
Fund balance, beginning of year
54,500
54,500
68,457
13,957
Fund balance, end of year
21,500
$
21,500
$
68,783
$
47,283
$
Budgeted Amounts
CITY OF EL MIRAGE, ARIZONA
COMMUNITY DEVELOPMENT BLOCK GRANT
SPECIAL REVENUE FUND
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 2025
95
Variance with
Original
Final
Actual
Final Budget
REVENUES
Intergovernmental revenue
1,186,000
$
1,186,000
$
820,000
$
(366,000)
$
Total revenues
1,186,000
1,186,000
820,000
(366,000)
EXPENDITURES
Capital outlay
1,186,000
1,186,000
820,000
366,000
Total expenditures
1,186,000
1,186,000
820,000
366,000
Excess (deficiency) of revenues
over (under) expenditures
-
-
-
-
Fund balance, beginning of year
-
-
-
-
Fund balance, end of year
-
$
-
$
-
$
-
$
Budgeted Amounts
CITY OF EL MIRAGE, ARIZONA
STREETS (HURF)
SPECIAL REVENUE FUND
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 2025
96
Variance with
Original
Final
Actual
Final Budget
REVENUES
Intergovernmental revenue
2,700,000
$
2,700,000
$
2,839,394
$
139,394
$
Investment earnings
50,000
50,000
152,978
102,978
Total revenues
2,750,000
2,750,000
2,992,372
139,394
EXPENDITURES
Current:
Public works/streets
1,838,000
1,838,000
3,118,799
(1,280,799)
Capital outlay
5,333,000
5,331,000
329,308
5,001,692
Total expenditures
7,171,000
7,169,000
3,448,107
3,720,893
Excess (deficiency) of revenues
over (under) expenditures
(4,421,000)
(4,419,000)
(455,735)
3,963,265
OTHER FINANCING
SOURCES (USES)
Transfers in
1,902,000
1,902,000
1,902,000
-
Total other financing
sources (uses)
1,902,000
1,902,000
1,902,000
-
Net change in fund balance
(2,519,000)
(2,517,000)
1,446,265
3,963,265
Fund balance, beginning of year
2,521,000
2,521,000
3,075,191
554,191
Fund balance, end of year
2,000
$
4,000
$
4,521,456
$
4,517,456
$
Budgeted Amounts
CITY OF EL MIRAGE, ARIZONA
DEBT SERVICE FUND
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 2025
97
Variance with
Original
Final
Actual
Final Budget
REVENUES
Property taxes
1,930,000
$
1,930,000
$
1,889,615
$
(40,385)
$
Investment earnings
5,000
5,000
55,084
50,084
Total revenues
1,935,000
1,935,000
1,944,699
9,699
EXPENDITURES
Debt service
Principal
1,380,000
1,380,000
1,380,000
-
Interest and fiscal charges
680,000
680,000
650,925
29,075
Total expenditures
2,060,000
2,060,000
2,030,925
29,075
Excess (deficiency) of revenues
over (under) expenditures
(125,000)
(125,000)
(86,226)
38,774
OTHER FINANCING
SOURCES (USES)
Transfers in
100,000
100,000
100,000
-
Total other financing
sources (uses)
100,000
100,000
100,000
-
Net change in fund balance
(25,000)
(25,000)
13,774
38,774
Fund balance, beginning of year
710,000
710,000
809,395
99,395
Fund balance, end of year
685,000
$
685,000
$
823,169
$
138,169
$
Budgeted Amounts
98
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99
STATISTICAL SECTION
This part of the City of El Mirage’s comprehensive annual financial report presents detailed information
as a context for understanding what the information in the financial statements, notes disclosures, and
required supplementary information says about the government’s overall financial health.
Contents
Page
Financial Trends ......................................................................................... 100
These schedules contain trend information to help the reader
understand how the government’s financial performance and
well being have changed over time.
Revenue Capacity ....................................................................................... 113
These schedules contain information to help the reader assess
the government’s property taxes and the most significant local
revenues source, the sales tax.
Debt Capacity ............................................................................................. 119
These schedules present information to help the reader assess
the affordability of the government’s current levels of
outstanding debt and the government’s ability to issue additional
debt in the future.
Demographic and Economic Information ................................................... 123
These schedules offer demographic and economic indicators to
help the reader understand the environment within which the
government’s financial activities take place.
Operating Information ................................................................................ 12
These schedules contain service and infrastructure data to help
the reader understand how the information in the government’s
financial report relates to the services the government provides
and the activities it performs.
2025
2024
2023
2022
2021
Net Position:
Governmental activities
Net investment in capital assets
80,099,620
$
73,621,365
$
61,671,296
$
58,889,522
$
56,661,890
$
Restricted
15,410,968
16,415,844
24,400,977
26,133,927
23,898,377
Unrestricted
89,008,750
73,208,385
51,888,272
36,606,153
29,331,979
Total governmental activities net position
184,519,338
$
163,245,594
$
137,960,545
$
121,629,602
$
109,892,246
$
Business-type activities
Net investment in capital assets
35,459,473
$
25,656,275
$
24,489,828
$
23,374,495
$
20,979,792
$
Restricted
-
68,101
96,714
-
-
Unrestricted
29,740,909
36,582,188
35,205,870
35,697,522
37,917,603
Total business-type activities net position
65,200,382
$
62,306,564
$
59,792,412
$
59,072,017
$
58,897,395
$
Primary government
Net investment in capital assets
115,559,093
$
99,277,640
$
86,161,124
$
82,264,017
$
77,641,682
$
Restricted
15,410,968
16,483,945
24,497,691
26,133,927
23,898,377
Unrestricted
118,749,659
109,790,573
87,094,142
72,303,675
67,249,582
Total primary government net position
249,719,720
$
225,552,158
$
197,752,957
$
180,701,619
$
168,789,641
$
2020
2019
2018
2017
2016
Net Position:
Governmental activities
Net investment in capital assets
56,667,278
$
46,624,411
$
45,836,176
$
41,199,897
$
34,794,822
$
Restricted
16,923,724
12,133,608
8,409,993
9,603,813
15,546,294
Unrestricted
19,550,588
22,139,333
15,984,452
12,322,852
5,335,865
Total governmental activities net position
93,141,590
$
80,897,352
$
70,230,621
$
63,126,562
$
55,676,981
$
Business-type activities
Net investment in capital assets
29,392,545
$
29,457,397
$
27,884,333
$
27,309,076
$
24,888,693
$
Restricted
-
-
-
-
-
Unrestricted
28,911,120
25,538,037
23,325,153
20,063,673
19,137,165
Total business-type activities net position
58,303,665
$
54,995,434
$
51,209,486
$
47,372,749
$
44,025,858
$
Primary government
Net investment in capital assets
86,059,823
$
76,081,808
$
73,720,509
$
68,508,973
$
59,683,515
$
Restricted
16,923,724
12,133,608
8,409,993
9,603,813
15,546,294
Unrestricted
48,461,708
47,677,370
39,309,605
32,386,525
24,473,030
Total primary government net position
151,445,255
$
135,892,786
$
121,440,107
$
110,499,311
$
99,702,839
$
CITY OF EL MIRAGE, ARIZONA
NET POSITION BY COMPONENT
LAST TEN FISCAL YEARS
Fiscal Year Ended June 30
(Accrual basis of accounting)
The source of this information is the City's financial records.
Source:
1
2025
2024
2023
2022
2021
Governmental activities:
General government
18,166,508
$
20,707,148
$
13,326,394
$
12,617,262
$
9,025,363
$
Public safety
19,199,471
21,079,865
17,495,982
16,200,172
17,072,200
Highways and streets
4,880,421
4,647,235
3,956,336
4,567,594
4,279,942
Culture and recreation
-
-
-
-
-
Health and welfare
-
-
-
-
-
Interest on long-term debt
568,091
732,924
773,431
654,574
815,347
Total governmental activities expenses
42,814,491
47,167,172
35,552,143
34,039,602
31,192,852
Business-type activities:
Water
8,451,257
$
8,480,847
$
7,304,556
$
8,522,589
$
6,467,410
$
Sewer
2,941,465
3,179,607
3,118,312
2,846,119
2,604,974
Sanitation
1,653,309
1,541,218
1,426,839
1,583,580
1,619,256
Total business-type activities expenses
13,046,031
13,201,672
11,849,707
12,952,288
10,691,640
Total primary government expenses
55,860,522
$
60,368,844
$
47,401,850
$
46,991,890
$
41,884,492
$
The source of this information is the District's financial records.
The provisions of the Governmental Accounting Standards Board (GASB) Statement No. 34 were adopted in fiscal year 2001 therefore
(Continued)
1Ϭϭ
CITY OF EL MIRAGE, ARIZONA
GOVERNMENTAL AND BUSINESS-TYPE ACTIVITIES EXPENSE
Source:
LAST TEN FISCAL YEARS
(Accrual basis of accounting)
Fiscal Year Ended June 30
Expenses
Note:
2020
2019
2018
2017
2016
Expenses
Governmental activities:
General government
8,185,259
$
7,193,712
$
6,994,848
$
7,056,222
$
5,793,877
$
Public safety
15,777,067
13,367,955
11,935,458
13,162,982
11,167,283
Highways and streets
4,465,392
4,464,599
3,372,194
3,492,003
3,367,393
Culture and recreation
443,385
1,265,719
1,255,915
1,231,510
1,739,508
Health and welfare
-
-
-
-
395,627
Interest on long-term debt
483,363
1,299,795
1,242,059
1,630,076
1,428,706
Total governmental activities expenses
29,354,466
27,591,780
24,800,474
26,572,793
23,892,394
Business-type activities:
Water
6,005,567
$
5,711,196
$
5,580,755
$
5,801,324
$
5,470,323
$
Sewer
2,684,309
2,482,493
2,415,160
2,434,685
2,364,833
Sanitation
1,075,446
1,086,988
1,135,506
1,090,678
1,076,709
Total business-type activities expenses
9,765,322
9,280,677
9,131,421
9,326,687
8,911,865
Total primary government expenses
39,119,788
$
36,872,457
$
33,931,895
$
35,899,480
$
32,804,259
$
(Concluded)
CITY OF EL MIRAGE, ARIZONA
GOVERNMENTAL AND BUSINESS-TYPE ACTIVITIES EXPENSE
The source of this information is the City's financial records.
Source:
(Accrual basis of accounting)
LAST TEN FISCAL YEARS
Fiscal Year Ended June 30
1ϬϮ
2025
2024
2023
2022
2021
Program Revenues
Governmental activities:
Charges for services:
General government
4,920,252
$
5,078,419
$
4,172,751
$
2,725,756
$
2,426,077
$
Public safety
682,940
551,188
608,594
579,329
778,946
Highways and streets
4,008,238
-
49,032
3,548,246
821,676
Culture and recreation
-
-
-
-
-
Operating grants and contributions
4,493,319
3,983,447
4,917,573
3,759,331
10,654,161
Capital grants and contributions
826,045
7,799,205
5,598
471,130
432,025
Total governmental activities program revenues
14,930,794
17,412,259
9,753,548
11,083,792
15,112,885
Business-type activities:
Charges for services:
Water
11,851,110
$
11,115,648
$
9,664,280
$
10,375,917
$
9,473,740
$
Sewer
3,877,820
3,683,224
3,515,024
3,479,855
3,304,323
Sanitation
2,470,557
2,401,529
2,095,377
2,247,977
1,636,203
Capital grants and contributions
67,620
30,000
60,000
-
15,000
Total business-type activities program revenues
18,267,107
17,230,401
15,334,681
16,103,749
14,429,266
Total primary government revenues
33,197,901
$
34,642,660
$
25,088,229
$
27,187,541
$
29,542,151
$
Net (Expense)/Revenue
Governmental activities
(27,883,697)
$
(29,754,913)
$
(25,798,595)
$
(22,955,810)
$
(16,079,967)
$
Business-type activities
5,221,076
4,028,729
3,484,974
3,151,461
3,737,626
Total primary government net (expense)/revenues
(22,662,621)
$
(25,726,184)
$
(22,313,621)
$
(19,804,349)
$
(12,342,341)
$
The source of this information is the City's financial records.
1Ϭϯ
(Continued)
CITY OF EL MIRAGE, ARIZONA
PROGRAM REVENUES AND NET (EXPENSE)/REVENUE
Source:
LAST TEN FISCAL YEARS
(Accrual basis of accounting)
Fiscal Year Ended June 30
2020
2019
2018
2017
2016
Program Revenues
Governmental activities:
Charges for services:
General government
2,183,952
$
2,372,111
$
1,610,087
$
1,268,421
$
2,706,401
$
Public safety
976,983
966,452
805,240
658,215
858,161
Highways and streets
2,070,878
-
-
-
-
Culture and recreation
57,486
71,474
72,206
52,160
91,431
Operating grants and contributions
5,939,482
3,314,161
2,941,043
2,710,165
2,725,912
Capital grants and contributions
15,530
5,137,683
1,951,817
6,747,130
4,350,917
Total governmental activities program revenues
11,244,311
11,861,881
7,380,393
11,436,091
10,732,822
Business-type activities:
Charges for services:
Water
9,055,461
$
9,245,531
$
9,656,519
$
9,529,705
$
9,544,865
$
Sewer
3,264,492
3,298,488
3,243,532
3,361,689
3,164,369
Sanitation
1,626,216
1,601,564
1,601,087
1,608,769
1,598,383
Capital grants and contributions
-
887,861
374,732
-
-
Total business-type activities program revenues
13,946,169
15,033,444
14,875,870
14,500,163
14,307,617
Total primary government revenues
25,190,480
$
26,895,325
$
22,256,263
$
25,936,254
$
25,040,439
$
Net (Expense)/Revenue
Governmental activities
(18,110,155)
$
(15,729,899)
$
(17,420,081)
$
(15,136,702)
$
(13,159,572)
$
Business-type activities
4,180,847
5,752,767
5,744,449
5,173,476
5,395,752
Total primary government net (expense)/revenues
(13,929,308)
$
(9,977,132)
$
(11,675,632)
$
(9,963,226)
$
(7,763,820)
$
Source: The source of this information is the City's financial records.
(Concluded)
Fiscal Year Ended June 30
CITY OF EL MIRAGE, ARIZONA
PROGRAM REVENUES AND NET (EXPENSE)/REVENUE
LAST TEN FISCAL YEARS
(Accrual basis of accounting)
1Ϭϰ
2025
2024
2023
2022
2021
General Revenues:
Governmental activities:
Taxes:
Property taxes
4,877,757
$
4,773,268
$
4,774,270
$
4,685,551
$
4,308,183
$
City sales taxes
19,576,235
20,210,056
15,809,684
14,760,486
13,385,017
Franchise taxes
1,237,374
1,103,749
936,164
761,830
772,317
Unrestricted state shared revenues
15,087,745
16,830,318
13,943,029
11,437,358
11,046,696
Investment income
4,693,330
4,824,968
2,589,352
(391,453)
70,999
Miscellaneous
-
3,332,603
112,038
394,745
42,411
Transfers
3,685,000
3,965,000
3,965,000
3,044,649
3,205,000
Total governmental activities
49,157,441
$
55,039,962
$
42,129,537
$
34,693,166
$
32,830,623
$
Business-type activities:
Investment income
1,357,742
$
1,397,461
$
989,071
$
64,784
$
30,354
$
Miscellaneous
-
1,052,962
60,012
3,026
30,750
Transfers
(3,685,000)
(3,965,000)
(3,965,000)
(3,044,649)
(3,205,000)
Total business-type activities
(2,327,258)
$
(1,514,577)
$
(2,915,917)
$
(2,976,839)
$
(3,143,896)
$
Changes in Net Position
Governmental activities
21,273,744
$
25,285,049
$
16,330,943
$
11,737,356
$
16,750,656
$
Business-type activities
2,893,818
2,514,152
720,395
174,622
593,730
Total primary government
24,167,562
$
27,799,201
$
17,051,338
$
11,911,978
$
17,344,386
$
(Continued)
1Ϭϱ
Fiscal Year Ended June 30
CITY OF EL MIRAGE, ARIZONA
GENERAL REVENUES, TRANSFERS, AND TOTAL CHANGES IN NET POSITION
LAST TEN FISCAL YEARS
(Accrual basis of accounting)
2020
2019
2018
2017
2016
General Revenues:
Governmental activities:
Taxes:
Property taxes
4,169,021
$
4,295,776
$
3,678,093
$
3,683,700
$
3,663,163
$
City sales taxes
11,673,068
8,538,740
8,020,802
7,445,186
6,990,668
Franchise taxes
696,912
742,741
774,856
712,143
745,088
Unrestricted state shared revenues
9,811,695
9,353,989
9,157,332
8,604,293
8,086,986
Investment income
798,697
1,433,459
733,215
297,461
107,055
Miscellaneous
-
309,537
291,357
-
-
Transfers
3,205,000
2,010,500
1,933,000
1,843,500
1,430,621
Total governmental activities
30,354,393
$
26,684,742
$
24,588,655
$
22,586,283
$
21,023,581
$
Business-type activities:
Investment income
305,058
$
43,681
$
24,865
$
16,915
$
39,235
$
Miscellaneous
-
-
-
-
-
Transfers
(3,205,000)
(2,010,500)
(1,933,000)
(1,843,500)
(1,430,621)
Total business-type activities
(2,899,942)
$
(1,966,819)
$
(1,908,135)
$
(1,826,585)
$
(1,391,386)
$
Changes in Net Position
Governmental activities
12,244,238
$
10,666,731
$
7,168,574
$
7,449,581
$
7,864,009
$
Business-type activities
3,989,905
3,785,948
3,836,314
3,346,891
4,004,366
Total primary government
16,234,143
$
14,452,679
$
11,004,888
$
10,796,472
$
11,868,375
$
(Concluded)
GENERAL REVENUES, TRANSFERS, AND TOTAL CHANGES IN NET POSITION
LAST TEN FISCAL YEARS
(Accrual basis of accounting)
The source of this information is the City's financial records.
Fiscal Year Ended June 30
Source:
CITY OF EL MIRAGE, ARIZONA
1Ϭϲ
2025
2024
2023
2022
2021
General Fund:
Nonspendable
18,431
$
26,151
$
199,454
$
28,122
$
7,345
$
Restricted
-
-
-
-
-
Committed
-
-
-
-
838,502
Assigned
71,944
497,429
393,987
-
404,336
Unassigned
94,307,453
83,046,616
62,911,401
49,602,488
42,081,082
Total General Fund
94,397,828
$
83,570,196
$
63,504,842
$
49,630,610
$
43,331,265
$
All Other Governmental Funds:
Nonspendable
-
$
100
$
-
$
-
$
6,165
$
Restricted
15,410,968
15,975,677
23,994,964
26,133,927
23,892,212
Committed
1,160,835
-
-
-
1,064,644
Assigned
-
-
-
-
-
Unassigned
-
-
-
-
-
Total all other governmental funds
16,571,803
$
15,975,777
$
23,994,964
$
26,133,927
$
24,963,021
$
(Continued)
1Ϭϳ
CITY OF EL MIRAGE, ARIZONA
FUND BALANCES - GOVERNMENTAL FUNDS
Fiscal Year Ended June 30
LAST TEN FISCAL YEARS
(Modified accrual basis of accounting)
2020
2019
2018
2017
2016
General Fund:
Nonspendable
89,069
$
94,526
$
100,435
$
34,042
$
2,002
$
Restricted
-
-
2,138,430
Committed
720,886
534,313
456,968
1,048,009
388,197
Assigned
426,359
321,145
338,795
201,680
316,212
Unassigned
30,928,860
32,566,934
27,711,606
22,985,787
22,848,735
Total General Fund
32,165,174
$
33,516,918
$
28,607,804
$
24,269,518
$
25,693,576
$
All Other Governmental Funds:
Nonspendable
-
$
-
$
-
$
5,102
$
5,102
$
Restricted
16,923,724
12,133,608
8,409,993
9,598,711
13,356,982
Committed
1,103,629
1,536,016
1,742,741
2,291,094
2,870,981
Assigned
-
-
-
-
-
Unassigned
-
-
-
-
-
Total all other governmental funds
18,027,353
$
13,669,624
$
10,152,734
$
11,894,907
$
16,233,065
$
Source:
Note:
(Concluded)
The provisions of the Governmental Accounting Standards Board (GASB) Statement No. 54 were adopted in fiscal year 2011. The
standard replaces the previous reserved and unreserved fund balance categories with the following five fund balance
classifications: nonspendable, restricted, committed, assigned, and unassigned fund balance.
The source of this information is the City's financial records.
CITY OF EL MIRAGE, ARIZONA
FUND BALANCES - GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified accrual basis of accounting)
Fiscal Year Ended June 30
1Ϭϴ
2025
2024
2023
2022
2021
Revenues:
Property taxes
4,888,210
$
4,751,944
$
4,777,575
$
4,663,575
$
4,327,680
$
City sales taxes
19,576,235
20,210,056
15,809,684
14,760,486
13,385,017
Franchise taxes
1,237,374
1,103,749
936,164
761,830
772,317
Licenses, permits and fees
3,040,847
1,709,443
1,197,224
1,050,534
708,361
Intergovernmental
24,395,215
28,383,027
18,581,248
15,478,473
22,093,459
Charges for services
1,846,640
2,758,355
2,268,473
1,608,199
1,649,176
Fines and forfeits
473,369
319,592
315,944
338,353
660,157
Investment income
4,693,330
4,824,968
2,589,352
(391,453)
70,999
Rents
-
-
-
-
-
Development impact fees
-
-
-
-
-
Miscellaneous/Other Revenues
262,468
4,404,763
1,445,726
4,433,549
1,048,428
Total revenues
60,413,688
$
68,465,897
$
47,921,390
$
42,703,546
$
44,715,594
$
2020
2019
2018
2017
2016
Revenues:
Property taxes
4,192,488
$
4,295,776
$
3,683,118
$
3,692,071
$
3,647,913
$
City sales taxes
11,673,068
8,538,740
8,020,802
7,445,186
6,990,668
Franchise taxes
696,912
742,741
774,856
712,143
745,088
Licenses and permits
837,063
449,482
295,737
269,103
243,974
Intergovernmental
15,763,318
17,801,633
14,027,647
18,072,336
14,735,815
Charges for services
1,318,619
1,213,951
620,855
272,747
371,669
Fines and forfeits
864,969
1,417,360
1,376,994
1,220,377
2,769,074
Investment income
798,697
1,433,459
733,215
297,461
107,055
Rents
-
-
-
-
71,753
Contributions and donations
-
-
-
-
41,151
Miscellaneous
2,272,037
309,537
221,632
221,746
158,372
Total revenues
38,417,171
$
36,202,679
$
29,754,856
$
32,203,170
$
29,882,532
$
CITY OF EL MIRAGE, ARIZONA
GOVERNMENTAL FUNDS REVENUES
LAST TEN FISCAL YEARS
Source: The source of this information is the City's financial records.
Fiscal Year Ended June 30
(Modified accrual basis of accounting)
1
2025
2024
2023
2022
2021
Expenditures:
Current
General government
16,445,709
$
18,817,459
$
11,875,073
$
10,951,883
$
7,646,041
$
Public safety*
21,895,912
21,123,657
18,608,227
17,547,284
15,251,802
Highways and streets
3,270,218
3,088,873
2,360,920
2,929,774
2,631,223
Culture and recreation**
-
-
-
-
-
Capital outlay
9,522,650
15,765,088
5,907,936
5,620,566
2,232,142
Debt service
Principal retirement
1,748,999
1,676,484
1,449,689
1,435,000
1,230,000
Interest and fiscal charges
684,826
732,924
773,431
654,574
870,038
Bond issuance costs
-
-
-
481,975
Total expenditures
53,568,314
$
61,204,485
$
40,975,276
$
39,621,056
$
29,861,246
$
Expenditures for capitalized assets
9,522,650
$
15,765,088
$
5,907,936
$
4,814,781
$
2,232,142
$
Debt service as a percentage of
noncapital expenditures
6%
5%
6%
7%
32%
Source: The source of this information is the District's financial records.
Notes:
*FY2019 Public Safety includes $800k spent using contigency dollars to fund Public Safety Retirement System
**FY2019 Culture and recreation includes $3,162 spent using contigency dollars to fund Council initiative " El Mirage Cares"
(Continued)
CITY OF EL MIRAGE, ARIZONA
GOVERNMENTAL FUNDS EXPENDITURES AND DEBT SERVICE RATIO
Fiscal Year Ended June 30
LAST TEN FISCAL YEARS
(Modified accrual basis of accounting)
1ϭϬ
2020
2019
2018
2017
2016
Expenditures:
Current
General government
7,399,877
$
6,617,738
$
6,327,081
$
6,493,561
$
5,427,402
$
Public safety
14,395,837
13,684,610
10,912,583
10,757,510
10,785,548
Highways and streets
2,704,575
2,855,137
2,481,258
2,562,531
2,450,730
Culture and recreation
-
854,348
840,136
794,042
1,314,039
Capital outlay
2,353,516
3,044,751
5,573,151
16,507,748
11,578,785
Debt service
Principal retirement
10,425,000
1,785,000
1,880,000
1,075,000
1,038,074
Interest and fiscal charges
1,368,688
1,431,632
1,373,346
1,618,494
1,531,293
Bond issuance costs
186,700
-
203,349
Total expenditures
38,647,493
$
30,273,216
$
29,574,255
$
39,808,886
$
34,329,220
$
2,353,516
$
3,044,751
$
5,581,120
$
16,507,750
$
11,636,254
$
Debt service as a percentage of
noncapital expenditures
12%
14%
12%
11%
10%
Source:
(Concluded)
CITY OF EL MIRAGE, ARIZONA
GOVERNMENTAL FUNDS EXPENDITURES AND DEBT SERVICE RATIO
The source of this information is the City's financial records.
Fiscal Year Ended June 30
LAST TEN FISCAL YEARS
(Modified accrual basis of accounting)
1ϭϭ
2025
2024
2023
2022
2021
Excess (deficiency) of
revenues over expenditures
6,845,374
$
7,261,412
$
6,946,115
$
3,082,490
$
14,854,348
$
Other financing sources (uses):
Issuance of bonds
-
-
-
11,575,000
-
Premium on sale of bonds
-
-
-
1,213,761
-
Payment to refunded bond escrow agent
-
-
-
(12,300,000)
-
Sale of assets
42,741
-
-
-
42,411
Debt issued-SBITA
25,543
819,755
824,154
-
-
Transfers in
6,512,000
4,975,000
4,888,000
4,606,004
(2,328,410)
Transfers out
(2,002,000)
(1,010,000)
(923,000)
(707,004)
5,533,410
Total other financing sources (uses)
4,578,284
4,784,755
4,789,154
4,387,761
3,247,411
Changes in fund balances
11,423,658
$
12,046,167
$
11,735,269
$
7,470,251
$
18,101,759
$
2020
2019
2018
2017
2016
Excess (deficiency) of
revenues over expenditures
(230,322)
$
5,929,463
$
180,601
$
(7,605,716)
$
(4,446,688)
$
Other financing sources (uses):
Issuance of bonds
-
-
8,385,000
-
12,470,000
Premium on sale of bonds
-
-
881,581
-
1,132,682
Payment to refunded bond escrow agent
-
-
(9,073,030)
-
-
Sale of assets
31,307
486,041
288,961
-
-
Capital lease agreements
-
-
-
-
-
Transfers in
14,939,142
4,501,500
5,252,508
4,299,991
4,558,633
Transfers out
(11,734,142)
(2,491,000)
(3,319,508)
(2,456,491)
(2,554,133)
Total other financing sources (uses)
3,236,307
2,496,541
2,415,512
1,843,500
15,607,182
Changes in fund balances
3,005,985
$
8,426,004
$
2,596,113
$
(5,762,216)
$
11,160,494
$
Source: The source of this information is the City's financial records.
CITY OF EL MIRAGE, ARIZONA
OTHER FINANCING SOURCES AND USES AND NET CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
Fiscal Year Ended June 30
(Modified accrual basis of accounting)
Fiscal Year Ended June 30
11
2025
2024
2023
2022
2021
Construction
125,091
$
137,241
$
62,864
$
44,158
$
68,871
$
Retail trade
319,879
282,583
292,749
266,401
225,717
Communications and utilities
71,006
65,134
52,265
43,301
42,147
Restaurant and bar
20,293
18,052
16,593
14,961
14,174
Real estate, rental and leasing
90,777
129,051
78,230
66,992
78,045
Accomodation
918
1,652
491
557
428
Services
2,161
4,148
753
1,219
1,943
Other
32,156
19,812
15,512
14,672
14,558
Total
662,281
$
657,673
$
519,458
$
452,262
$
445,882
$
2020
2019
2018
2017
2016
Construction
80,739
$
18,784
$
18,943
$
17,019
$
12,542
$
Retail trade
170,923
137,447
132,306
125,205
102,235
Communications and utilities
39,229
42,878
43,217
41,498
44,906
Restaurant and bar
12,688
12,737
12,123
11,203
9,969
Real estate, rental and leasing
69,412
61,180
51,557
44,223
32,453
Accomodation
373
-
-
-
3,256
Services
1,403
-
-
-
4,693
Other
13,586
10,696
9,114
6,923
16,980
Total
388,352
$
283,722
$
267,260
$
246,070
$
227,034
$
Source:
The source of this information is the Arizona Department of Revenue.
Arizona Department of Revenue changed its way of reporting number of filers and categories effective June 2016.
CITY OF EL MIRAGE, ARIZONA
TAXABLE SALES BY CATEGORY BASED ON COLLECTIONS (IN THOUSANDS)
LAST TEN FISCAL YEARS
Fiscal Year
Fiscal Year
13
Number of
Filers
Percentage
of Total
Tax Collections
Percentage
of Total
Number of
Filers
Percentage
of Total
Tax
Collections
Percentage
of Total
Description of Payers Business
Construction
42
1%
3,752,737
$
19%
48
2%
376,265
$
5%
Retail trade
3,128
74%
9,596,384
48%
586
29%
3,067,046
45%
Communications and utilities
141
3%
2,130,182
11%
64
3%
1,347,177
19%
Restaurant and bar
34
1%
608,783
3%
18
1%
299,083
4%
Real estate, rental and leasing
340
8%
2,723,301
14%
608
30%
973,584
14%
Other
554
13%
1,075,406
5%
689
34%
812,989
12%
Total
4,239
100%
19,886,793
$
100%
2,013
100%
6,876,144
$
100%
Tax Collections from top ten taxpayers
10
<1%
9,591,082
48%
10
<1%
3,720,993
54%
Source: Arizona Department of Revenue
Note: Due to confidentiality issues, the names of the ten largest revenue payers are not available. The categories presented are intended to provide
alternative information regarding the sources of the revenue.
Based on Arizona Department of Revenue collection reports only, does not include local audits or accrued amounts.
Arizona Department of Revenue changed its way of reporting number of filers and categories effective June 2016.
CITY OF EL MIRAGE, ARIZONA
TRANSACTION PRIVILEGE (SALES) TAX COLLECTIONS BY INDUSTRY
FISCAL YEARS 2025 AND 2016
Fiscal Year 2025
Fiscal Year 2016
1
Fiscal
Year
Assessed Value
Assessed Value
Less:
Total Taxable
Total
Estimated
Ended
Residential
Commercial
Tax Exempt
Assessed
Direct
Actual
June 30
Property
Property
Real Property
Valuation
Tax Rate
Taxable Value
2025
334,704,897
$
148,427,915
$
40,960,975
$
442,171,837
$
2.7856
4,289,335,196
$
10.31 %
2024
269,405,973
112,315,803
35,797,543
345,924,233
2.9823
3,378,529,564
10.24
2023
199,667,600
92,313,648
30,326,735
261,654,513
3.2071
2,566,692,095
10.19
2022
182,330,739
86,284,837
29,300,568
239,315,008
3.3906
2,347,608,437
10.19
2021
160,304,204
68,767,721
26,201,746
202,870,179
3.7438
2,025,278,943
10.02
2020
142,385,468
59,999,475
23,971,020
178,413,923
3.9610
1,793,206,477
9.95
2019
129,515,106
54,520,047
23,514,110
160,521,043
3.6337
1,632,991,596
9.83
2018
112,870,585
52,180,577
23,551,578
141,499,584
3.7834
1,451,693,976
9.75
2017
105,602,966
48,744,113
22,985,968
131,361,111
3.8440
1,359,620,899
9.66
2016
101,978,841
44,831,478
20,199,683
126,610,636
3.5406
1,286,131,251
9.84
Source:
CITY OF EL MIRAGE, ARIZONA
ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
CURRENT AND LAST TEN FISCAL YEARS
Ratio of
The source of this information is the State and County Abstract of the Assessment Roll, Arizona Department of Revenue.
Net Assessed
to Estimated
Actual Value
Real Property
1
Fiscal
Year
General
Total
Central AZ
Dysart #89
Ended
Basic
Obligation
Direct
Community
Conserv.
Health
Unified
West-
Total
June 30
Rate
Debt Service
Rates
General
College Dist.
District
District
El Mirage
Mec*
Rates
2025
1.7104
1.0752
2.7856
1.1591
1.10
0.1400
0.2665
17.1695
0.1825
22.8079
2024
1.7699
1.2124
2.9823
1.2044
1.1388
0.1400
0.2716
17.5055
0.1807
23.4233
2023
1.8355
1.3716
3.2071
1.2473
1.1894
0.1400
0.2488
18.2956
0.1538
24.4820
2022
1.9077
1.4829
3.3906
1.3459
1.2257
0.1400
0.2970
20.4020
0.1579
26.9591
2021
1.9835
1.6999
3.6834
21.1987
24.8821
2020
1.9835
1.7603
3.7438
21.7350
25.4788
2019
2.0603
1.9007
3.9610
22.5100
26.4710
2018
1.6319
2.0018
3.6337
21.9500
25.5837
2017
1.6992
2.0842
3.7834
22.4200
26.2034
2016
1.7264
2.1176
3.8440
22.0400
25.8840
Source: The source of this information is the Maricopa County Tax Rates Report.
* Prior year's data will be completed for the overlapping districts that were previously omitted going forward.
Maricopa County*
Overlapping Rates
City of El Mirage
School Districts
CITY OF EL MIRAGE, ARIZONA
DIRECT AND OVERLAPPING PROPERTY TAX RATES
LAST TEN FISCAL YEARS
Direct Rates
1
Fiscal
Primary
Primary Taxes
Year
Taxes Levied
Collected in
Ended
for the
Subsequent
June 30
Fiscal Year (3)
Amount
Fiscal Years (2)
Amount
2025
3,070,298
2,983,711
$
97.18
N/A
2,983,711
$
97.18 %
2024
2,817,634
2,769,627
98.30
51,944
2,821,571
100.14
2023
2,716,588
2,677,801
98.57
35,251
2,713,052
99.87
2022
2,611,504
2,582,742
98.90
42,584
2,625,326
100.53
2021
2,372,320
2,352,036
99.14
38,397
2,390,432
100.76
2020
2,287,426
2,169,120
94.83
38,602
2,207,722
96.52
2019
2,257,335
2,185,480
96.82
5,836
2,191,316
97.08
2018
1,656,452
1,624,691
98.08
18,402
1,643,093
99.19
2017
1,659,775
1,611,809
97.11
29,331
1,641,140
98.88
2016
1,661,854
1,614,373
97.14
20,481
1,634,854
98.38
Source:
Notes: 1)
2) Includes collections and resolutions.
3) Primary levy amount is based on City's State mandated scheduals found in City's budget documents.
Fiscal Year of the Levy
Collected within the
of the Current Fiscal Year
CITY OF EL MIRAGE, ARIZONA
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
Collected to the End
Primary Taxes
Primary Taxes
Amounts collected are on a cash basis.
of Levy
Percentage
of Levy
Percentage
The source of the collection information is the Maricopa County Treasurer- Secured Levy Report. The levy amount is from
City prepared budget documents.
1
Net Assessed Full
Cash Value
Rank
Net Assessed Full
Cash Value
Rank
MICROSOFT CORPORATION
14,415,205
$
1
3.26%
ARIZONA PUBLIC SERVICE COMPANY
3,759,153
$
1
2.97%
ARIZONA PUBLIC SERVICE
13,970,401
2
3.16%
PUEBLO EL MIRAGE LLC
2,735,703
2
2.16%
DPML COPPERWING 5 6 LLC
9,904,293
3
2.24%
WAL MART STORES INC
2,526,696
3
2.00%
BGO-TI PHOENIX LLC
9,051,139
4
2.05%
CLAYTON HOMES INC
1,594,107
4
1.26%
NEXMETRO GRAND LLC
7,500,000
5
1.70%
BNSF RAILWAY COMPANY
1,537,360
5
1.21%
AVANTI WINDOWS & DOORS LLC
7,396,368
6
1.67%
PIPE PORTFOLIO OWNER (MULTI) LP
1,081,091
6
0.85%
PUEBLO EL MIRAGE LLC
5,960,997
7
1.35%
COYOTE PASS RV AND MINI STORAGE LLC
899,532
7
0.71%
PIPE PORTFOLIO OWNER (MULTI) LP
4,505,228
8
1.02%
JIA CORP
639,559
8
0.51%
CLAYTON HOMES INC
4,050,911
9
0.92%
QWEST CORPORATION
575,733
9
0.45%
WAL MART STORES INC
3,704,685
10
0.84%
PREMIERE RV & MINI STORAGE LLC
564,372
10
0.45%
SCD EL MIRAGE LLC
3,213,778
11
0.73%
LILI RUBIN INVESTMENT PROPERTIES 3 LLC
563,200
11
0.44%
BUTTRUM BRUCE
3,003,943
12
0.68%
EPCOR-SUN CITY WATER DIVISION
552,143
12
0.44%
BNSF RAILWAY COMPANY
2,547,556
13
0.58%
DAKOTA FABRICATING
549,346
13
0.43%
GVII-BG COYOTE PASS OWNER LLC
2,505,872
14
0.57%
ARIZONA SAND & ROCK CO
539,843
14
0.43%
COMPASS DATACENTER PHX II-I
2,090,415
15
0.47%
IIP OASIS LLC
532,656
15
0.42%
CHARLIE TUNA INVESTMENTS LLC
1,939,504
16
0.44%
EPCOR-SUN CITY SEWER DIVISION
527,050
16
0.42%
CIVES CORPORATION
1,893,616
17
0.43%
T BAR C LAND AND CAMEL COMPANY LLC
477,576
17
0.38%
DPML COPPERWING LLC
1,843,197
18
0.42%
UNION ROCK & MATERIAL CORP
462,700
18
0.37%
CARMAX AUTO SUPERSTORES INC
1,450,470
19
0.33%
REALTY INCOME PROPERTIES
438,066
19
0.35%
EVT EL MIRAGE INDUSTRIAL LLC
1,319,550
20
0.30%
SUMERLIN LLC
417,560
20
0.33%
PREMIERE RV & MINI STORAGE LLC
1,304,816
21
0.30%
MCS ENTERPRISES LLC
389,286
21
0.31%
ARIZONA SAND AND ROCK COMPANY
1,159,009
22
0.26%
MAX TAYLOR AND COMPANY LLC
389,062
22
0.31%
EASTERN INVESTMENT GROUP LLC
1,014,136
23
0.23%
CASA MIRAGE PROPERTIES LLC
368,874
23
0.29%
EPCOR (SUN CITY SEWER)
972,729
24
0.22%
SOUTHWEST GAS CORPORATION (T&D)
364,494
24
0.29%
SOUTHWEST GAS CORPORATION (T&D)
683,742
25
0.15%
ASI EL MIRAGE LLC
364,104
25
0.29%
Source:
The source of this information is the Maricopa County Assessor's Office- Data Request Report.
CITY OF EL MIRAGE, ARIZONA
PRINCIPAL PROPERTY TAXPAYERS
CURRENT FISCAL YEAR AND TEN YEARS PRIOR
Percentage of
Net Assessed Full
Cash Value
2016
Taxpayer
2025
Taxpayer
Percentage of
Net Assessed
Full Cash Value
1
Water
Infrastructure
Fiscal
Revenue
Financing Authority
Total Primary
Percentage of
Debt Per
Year
Bonds
Leases
SBITA
Leases
Loan
Government
Personal Income
Capita
2025
$
15,531,699 $
-
-
$
754,280
$
94,194
$
9,634,447
$
26,014,620
$
N/A
704
2024
17,077,252
-
-
1,097,736
98,770
11,138,824
29,412,582
N/A
805
2023
18,568,029
-
-
-
-
12,714,464
31,282,493
N/A
862
2022
20,008,806
-
-
-
-
14,248,902
34,257,708
0.01
949
2021
21,130,822
-
-
-
-
17,198,541
38,329,363
0.01
1,067
2020
22,475,911
-
-
-
-
9,665,211
32,141,122
0.01
910
2019
23,780,971
10,065,663
-
-
-
9,821,367
43,668,001
0.02
1,244
2018
25,052,723
10,771,146
-
-
-
10,912,026
46,735,895
0.02
1,341
2017
25,713,367
11,451,658
-
-
-
12,059,849
49,224,874
0.03
1,424
2016
26,750,296
11,602,682
8,900
-
-
16,523,152
54,885,030
0.03
1,617
Source: The source of this information is the City's financial records.
Note: Details of the outstanding debt can be found in the notes to the financial statements. The WIFA debt shown here is net of July 1, 2025 payment.
Governmental Activities
General Obligation
Bonds
CITY OF EL MIRAGE, ARIZONA
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
Business-Type Activities
119
RATIOS OF GENERAL BONDED DEBT OUTSTANDING
LAST TEN FISCAL YEARS
Percentage
of Estimated
General
Less: Amounts
Actual Taxable
Fiscal
Obligation
Available in Debt
Value of
Year
Bonds
Service Fund
Total
Property
Per Capita
2025
15,531,699
$
823,169
$
14,708,530
0.343 %
398
2024
17,077,252
809,395
16,267,857
0.482
445
2023
18,335,860
730,583
17,605,277
0.686
485
2022
20,008,806
552,273
19,456,533
0.829
539
2021
21,130,822
490,075
20,640,747
1.019
575
2020
22,475,911
479,261
21,996,650
1.227
623
2019
23,780,971
493,370
23,287,601
1.426
664
2018
25,052,723
428,812
24,623,911
1.696
699
2017
25,713,367
431,298
25,282,069
1.859
721
2016
26,750,296
477,058
26,273,238
2.043
750
Source:
The source of this information is the City's financial records.
Note:
Amounts unrelated to debt covered by State Statutes related to calculating debt limits are omitted from
from this display.
CITY OF EL MIRAGE, ARIZONA
1
Estimated
Estimated
Percentage
Amount
Debt
Applicable
Applicable
Outstanding
to City
to City
Debt repaid with property taxes:
Maricopa County
214,169,326
$
0.3945%
844,872
$
MC Community College
87,320,000
0.3945%
344,467
Central Az. Water Conserv. Dist.
36,005,000
0.3945%
142,035
Maricopa County Special Health Care District
574,205,000
0.3945%
2,265,170
Dysart Unified School District No. 89
70,020,316
10.592%
7,416,714
Subtotal, Overlapping Debt
11,013,258
$
Direct:
City of El Mirage
15,531,699
Total Direct and Overlapping Debt
26,544,957
$
Source:
Note:
Amounts unrelated to debt covered by State Statutes related to calculating debt limits are omitted from
this display.
Estimated percentage of debt outstanding applicable to the City is calculated based on the City's full cash
assessed valuation as a percentage of the full cash assessed valuation of the overlapping jurisdiction.
CITY OF EL MIRAGE, ARIZONA
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
JUNE 30, 2025
The source of this information is the City's records and the State and County Abstract of the Assessment Roll,
Arizona Department of Revenue and the applicable governmental unit.
Governmental Unit
121
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Debt limit 6%
26,924,373
27,581,760
21,678,831
16,497,912
15,000,211
12,683,453
11,375,002
10,117,323
8,932,155
8,049,641
Total net debt applicable to limit
-
-
-
170,000
1,300,000
1,374,500
1,835,000
1,900,000
5,018,600
6,093,600
Unrestricted legal debt margin
26,924,373
27,581,760
21,678,831
16,327,912
13,700,211
11,308,953
9,540,002
8,217,323
3,913,555
1,956,041
Total net debt applicable to the 6% limit
as a percentage of 6% debt limit
0.00%
0.00%
0.00%
1.03%
8.67%
10.84%
16.13%
18.78%
56.19%
75.70%
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Debt limit 20%
89,747,908
91,939,198
72,262,771
54,993,040
50,000,702
42,278,177
37,916,673
33,724,408
29,773,849
26,832,138
Total net debt applicable to limit
13,900,000
15,280,000
16,595,000
17,690,000
19,830,822
21,101,411
22,605,000
21,695,000
19,986,400
19,986,400
Restricted legal debt margin
75,847,908
76,659,198
55,667,771
37,303,040
30,169,880
21,176,766
15,311,673
12,029,408
9,787,449
6,845,738
Total net debt applicable to the 20% limit
as a percentage of 20% debt limit
15.49%
16.62%
22.96%
32.17%
39.66%
49.91%
59.62%
64.33%
67.13%
74.49%
Source: Arizona Department of Revenue and Arizona State Treasurer - Bonded Indebtedness and Debt Limitations.
Note: Total net debt applicable to limit is net of July 1 payment
LAST TEN FISCAL YEARS
LEGAL DEBT MARGIN INFORMATION UNRESTRICTED AND RESTRICTED
CITY OF EL MIRAGE, ARIZONA
Unrestricted
Restricted
1
City of
Personal
El Mirage
Income
Per Capita
Year
Population*
Population
(thousands)
Income
2025
36,958
4,726,247
N/A
N/A
3.6
%
2024
36,536
4,665,020
N/A
N/A
3.5
2023
36,275
4,586,430
N/A
N/A
3.5
2022
36,101
4,507,419
$
328,789,172
$
72,944
5.6
2021
35,927
4,496,588
304,864,170
67,799
6.6
2020
35,318
4,485,414
222,943,072
49,704
9.8
2019
35,096
4,402,403
211,812,685
48,113
5.0
2018
34,859
4,307,033
210,370,180
48,843
4.9
2017
34,570
4,307,033
196,286,191
45,573
4.9
2016
34,080
4,233,383
185,613,641
43,845
5.5
Source: The source of this information is the U.S. Census Bureau, Maricopa County Association of Governments,
U.S. Department of Commerce and *Arizona Office of Economic Opportunity.
Note: All personal income figures and per capita income are for Maricopa County.
N/A indicates that the information is not available.
Rate
Unemployment
CITY OF EL MIRAGE, ARIZONA
COUNTY-WIDE DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
Maricopa County
12
Percentage
Percentage
of Total
of Total
Employees
Employment
Employees
Employment
Dysart Unified School District 89
500
11.16
%
554
19.89
%
Walmart
300
6.70
219
7.86
City of El Mirage
205
4.58
170
6.10
Avanti Windows and Doors
200
4.46
Dvc Construction Company Inc
160
3.57
160
5.75
CalPortland Company
150
3.35
Parks Sons of Sun City Inc
140
3.13
120
4.31
BNSF Railway Co
120
2.68
112
4.02
Yellowstone Landscape
110
2.46
Southwest Steel Inc
100
2.23
100
3.59
Sutter Masonry Inc
78
Look Trailers
66
2.37
Bashas (Food City)
62
2.23
Total
1,985
44.32
%
1,641
56.12
%
Total employment
4,480
2,785
Source: The source of this information is the Maricopa Association of Governments
Note: Amounts presented are as of December 31.
CITY OF EL MIRAGE, ARIZONA
PRINCIPAL EMPLOYERS
LAST CALENDAR YEAR AND NINE YEARS PRIOR
Employer
2025
2016
1
Full-time Equivalent Employees as of June 30
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
General Government
33.5
40.4
34.6
39.4
38.2
34.1
29.1
30.1
30.1
31.2
Police
87.0
87.0
81.0
72.5
69.5
72.0
68.5
59.5
59.0
61.2
Fire
38.0
38.0
37.0
31.0
31.0
31.0
34.0
27.0
27.0
29.0
Court
9.1
9.1
9.1
10.0
10.0
10.1
11.1
9.6
8.6
13.1
Streets
5.0
4.0
4.0
4.0
4.0
4.0
4.0
4.0
4.0
6.0
Development Services
14.5
10.5
9.5
10.3
10.3
10.3
6.0
3.0
4.0
4.0
Economic Development
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
-
Parks and Recreation
10.2
7.8
7.8
7.8
7.8
7.8
7.8
7.8
7.8
4.8
Water
14.0
13.0
13.0
13.0
13.0
13.0
18.0
18.0
18.0
16.7
Sewer
8.0
8.0
8.0
7.0
7.0
7.0
8.0
8.0
8.0
8.0
Customer Service
6.5
6.5
6.0
6.0
6.0
6.0
6.0
5.3
5.3
5.4
226.8
225.3
211.0
202.0
197.8
196.3
193.5
173.3
171.8
179.4
Source:
The source of this information is the City of El Mirage Annual Budget
CITY OF EL MIRAGE, ARIZONA
FULL-TIME-EQUIVALENT CITY GOVERNMENT EMPLOYEES BY TYPE
LAST TEN FISCAL YEARS
1
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Function/Program
Police
Stations
1
1
1
1
1
1
1
1
1
1
Patrol units
28
29
28
28
28
44
44
42
42
43
Fire
Fire stations
1
1
1
1
1
1
1
1
1
1
Fire engines and ladder trucks
3
3
3
2
2
3
2
3
4
3
Other Public Works
Street miles
248
248
248
248
248
248
248
248
242
240
Traffic signals
19
18
18
17
17
17
17
17
13
11
Community Development
Inspection vehicles
8
8
8
8
8
5
10
10
10
8
Culture and recreation
Parks acreage
65.3
53.6
52.3
52
52
52
52
52.3
52.3
52.3
Parks
14
14
13
13
13
13
13
13
13
13
Softball fields
2
2
2
2
2
2
2
2
2
2
Baseball fields
3
3
3
3
3
3
3
3
3
3
Libraries
1
1
1
1
1
1
1
1
1
1
Water
Maximum pump capacity (MGD)(1)
11.25
11.25
11.25
11.25
11.25
11.25
11.80
11.58
11.58
11.58
Total Storage (MGD)
7.76
7.76
7.76
7.76
7.76
7.76
7.76
7.36
7.36
7.36
Wells
9
9
9
9
9
10
10
10
10
10
Miles of water lines
122
122
122
122
122
122
121
120
120
120
Valves
2750
2,750
2,750
2,750
2,750
2,750
2,636
2,621
2,626
2,626
Hydrants
1450
1,450
1,450
1,450
1,450
1,450
1,419
1,417
1,413
1,171
Sewer
Sewer treatment plants
1
1
1
1
1
1
1
1
1
1
Maximum daily treatment capacity
2.5
2.5
2.5
2.5
2.5
2.5
2.5
2.5
2.5
2.5
Miles of sewer lines
64
64
64
64
64
64
63
63
63
63
(1) MGD= million gallons per day
Note:
The source of this information is the various government departments.
Source:
CITY OF EL MIRAGE, ARIZONA
CAPITAL ASSETS INFORMATION
LAST TEN FISCAL YEARS
Fiscal Year Ended June 30
1
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
Function/Program
Public Safety
Police
Calls/incidents responded to
23,859
20,886
24,513
25,729
28,847
33,629
27,771
26,362
28,611
28,597
Citations issued
7,529
3,673
2,674
2,359
3,409
3,820
2,542
2,465
2,263
2,241
Fire
Number of responses
4,584
4,225
4,644
4,812
4,657
4,406
4,009
4,277
4,559
4,513
Inspections
328
276
253
92
60
430
255
131
324
302
Public Works and Streets
Square feet of buildings to maintain
119,594
112,594
112,594
112,594
109,654
109,654
109,654
109,654
109,654
87,654
Vehicles/equipment maintained per month
99
99
155
154
153
151
149
134
125
125
Street miles maintained
248
248
248
248
248
248
248
248
242
240
Community Development
Building safety inspections performed
1,945
5,247
5,239
1,179
2,206
2,005
2,208
2,558
2,825
3,143
Annual new residential starts
5
6
94
17
45
124
6
26
26
48
Water
Water accounts billed
12,439
11,747
12,844
12,767
11,968
11,728
11,517
11,071
13,406
10,942
Residential
11,700
11,016
12,130
12,072
11,246
11,020
10,858
10,471
12,741
10,308
Commercial
739
731
714
695
722
708
659
606
665
634
Acre feet of water delivered
5,567
5,242
4,939
5,466
5,659
4,986
4,696
4,790
4,829
4,543
Sewer
Sewage treated (million gallons per day)
2.20
2.11
2.02
1.96
2.10
2.00
2.00
1.81
1.92
1.93
Sewer service connections
10,673
10,950
10,950
10,950
10,970
10,730
10,630
10,628
10,620
10,614
The source of this information is the various government departments.
LAST TEN CALENDAR YEARS
OPERATING INDICATORS BY FUNCTION
CITY OF EL MIRAGE, ARIZONA
Source:
Calendar Year
127
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OTHER COMMUNICATIONS FROM INDEPENDENT AUDITORS
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Independent Auditors’ Report on Internal Control Over
Financial Reporting and on Compliance and Other Matters
Based on an Audit of Financial Statements Performed
in Accordance with Government Auditing Standards
The Honorable Mayor and
City Council
El Mirage, Arizona
We have audited, in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States, the financial statements of the governmental
activities, the business-type activities, each major fund, and the aggregate remaining fund information of
the City of El Mirage, Arizona as of and for the year ended June 30, 2025, and the related notes to the
financial statements, which collectively comprise the City of El Mirage, Arizona’s basic financial
statements, and have issued our report thereon dated November 4, 2025.
Report on Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City of El Mirage,
Arizona’s internal control over financial reporting (internal control) as a basis for designing audit
procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the
financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City of
El Mirage, Arizona’s internal control. Accordingly, we do not express an opinion on the effectiveness of
the City El Mirage, Arizona’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or combination
of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement
of the entity’s financial statements will not be prevented, or detected and corrected, on a timely basis. A
significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less
severe than a material weakness, yet important enough to merit attention by those charged with
governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses may exist that have not been identified.
13
13
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City of El Mirage, Arizona’s financial
statements are free of material misstatement, we performed tests of its compliance with certain provisions
of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and
material effect on the financial statements. However, providing an opinion on compliance with those
provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The
results of our tests disclosed no instances of noncompliance or other matters that are required to be
reported under Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the entity’s internal control and compliance.
Accordingly, this communication is not suitable for any other purpose.
HintonBurdick, PLLC
Mesa, Arizona
November 4, 2025
Independent Auditors’ Report on
State Legal Compliance
The Honorable Mayor and
City Council
El Mirage, Arizona
We have audited the basic financial statements of the City of El Mirage, Arizona for the year ended June
30, 2025, and have issued our report thereon dated November 4, 2025. Our audit also included test work
on the City of El Mirage’s compliance with selected requirements identified in the State of Arizona
Revised Statutes and the Arizona State Constitution including, but not limited to, Title 28, Chapter 18,
Article 2.
The management of the City of El Mirage is responsible for the City's compliance with all requirements
identified above. Our responsibility is to express an opinion on compliance with those requirements
based on our audit; accordingly, we make the following statements:
The City of El Mirage has established separate funds to account for Highway User Revenue funds
and Local Transportation Assistance funds. Highway user revenue fund monies received by the
City of El Mirage pursuant to Title 28, Chapter 18, Article 2 and other dedicated state
transportation revenues received during the current fiscal year appear to have been used solely for
authorized purposes. The funds are administered in accordance with Generally Accepted
Accounting Principles. Sources of revenues available and fund balances are reflected in the
individual fund financial statements.
Our opinion regarding the City’s compliance with annual expenditure limitations has been issued
separately with the City’s Annual Expenditure Limitation Report.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and Government Auditing Standards, issued by the Comptroller General of the United States.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
material noncompliance with the requirements referred to above occurred. An audit includes examining,
on a test basis, evidence about the City's compliance with those requirements. We believe that our audit
provides a reasonable basis for our opinion.
In our opinion, The City of El Mirage complied, in all material respects, with the requirements identified
above for the year ended June 30, 2025.
The purpose of this report is solely to describe the scope of our testing of the applicable compliance
requirements identified in the Arizona Revised Statutes as noted above and the results of that testing
based on the state requirements. Accordingly, this report is not suitable for any other purpose.
HintonBurdick, PLLC
Mesa, Arizona
November 4, 2025
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