Annual Expenditure Limitation Report
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480-608-1750
www.cwdl.com
TOWN OF WICKENBURG,
ARIZONA
ANNUAL EXPENDITURE
LIMITATION REPORT
Fiscal Year Ended June 30, 2024
TOWN OF WICKENBURG, ARIZONA
TABLE OF CONTENTS
YEAR ENDED JUNE 30, 2024
Table of contents
Page
Independent accountants’ report
1
Annual expenditure limitation report—part I
2
Annual expenditure limitation report—part II
3
Annual expenditure limitation report—reconciliation
4
Note to annual expenditure limitation report
5
1
480-608-1750
www.cwdl.com
INDEPENDENT ACCOUNTANTS’ REPORT
The Auditor General of the State of Arizona and
The Honorable Mayor and the Town Council
Town of Wickenburg, Arizona
We have examined the accompanying annual expenditure limitation report of the Town of Wickenburg,
Arizona (Town) for the year ended June 30, 2024, and the related notes to the report. The Town’s
management is responsible for presenting this report in accordance with the uniform expenditure reporting
system as described in Note 1. Our responsibility is to express an opinion on this report based on our
examination.
We conducted our examination in accordance with attestation standards established by the American
Institute of Certified Public Accountants. Those standards require that we plan and perform the examination
to obtain reasonable assurance about whether this report is presented in accordance with the Uniform
Expenditure Reporting System in all material respects. An examination involves performing procedures to
obtain evidence about the amounts and disclosures in the report. The nature, timing, and extent of the
procedures selected depend on our judgment, including an assessment of the risks of material
misstatement of the report, whether due to fraud or error. We believe that the evidence we obtained is
sufficient and appropriate to provide a reasonable basis for our opinion.
We are required to be independent and to meet our other ethical responsibilities in accordance with
relevant ethical requirements relating to the engagement.
In our opinion, the Annual Expenditure Limitation Report referred to above is presented in accordance with
the Uniform Expenditure Reporting System as described in Note 1 in all material respects.
Mesa, Arizona
January 26, 2025
TOWN OF WICKENBURG, ARIZONA
ANNUAL EXPENDITURE LIMITATION REPORT – PART I
YEAR ENDED JUNE 30, 2024
2
See accompanying notes to the annual expenditure limitation report
1.
$
57,141,895
2.
24,249,325
3.
$
32,892,570
Name and title:
Telephone number
Date:
Economic Estimates Commission expenditure limitation
Amount subject to the expenditure limitation (total amount from part II, line C)
Amount under (in excess of) the expenditure limitation
I hereby certify, to the best of my knowledge and belief, that the information contained in this report is accurate and in accordance
with the requirements of the uniform expenditure reporting system.
Signature of chief financial officer:
Robert Martinez, Finance Director
928-684-5451
January 26, 2025
TOWN OF WICKENBURG, ARIZONA
ANNUAL EXPENDITURE LIMITATION REPORT – PART II
YEAR ENDED JUNE 30, 2024
3
See accompanying notes to the annual expenditure limitation report
Internal
Governmental
Enterprise
service
Fiduciary
Description
funds
funds
funds
funds
Total
A.
Amounts reported on the reconciliation, line D
22,380,927
$
10,294,565
$
608,893
$
-
$
32,675,492
$
B.
Less exclusions claimed:
1 Debt service requirements
498,093
-
-
-
498,093
2 Dividends, interest, and gains on the sale or redemption of investment
securities
1,532,742
685,876
11,823
-
2,230,441
3 Grants and aid from the federal government
1,145,286
1,364,310
-
-
2,509,596
4 Grants, aid, contributions, or gifts from a private agency, organization, or
individual, except amounts received in lieu of taxes
96,587
817,200
-
-
913,787
5 Amounts received from the State of Arizona
1,230,020
-
-
-
1,230,020
6 Contracts with other political subdivisions
867,512
-
-
-
867,512
7 Refunds, reimbursements, and other recoveries
176,718
-
-
-
176,718
Total exclusions claimed
5,546,958
2,867,386
11,823
-
8,426,167
C. Amounts subject to the expenditure limitation
16,833,969
$
7,427,179
$
597,070
$
-
$
24,249,325
$
TOWN OF WICKENBURG, ARIZONA
ANNUAL EXPENDITURE LIMITATION REPORT - RECONCILIATION
YEAR ENDED JUNE 30, 2024
4
See accompanying notes to the annual expenditure limitation report
Internal
Governmental
Enterprise
service
Fiduciary
funds
funds
funds
funds
Total
A.
22,380,927
$
10,215,415
$
589,923
$
-
$
33,186,265
$
B. Subtractions:
1. Items not requiring use of current financial resources:
a. Depreciation
-
2,849,199
15,428
-
2,864,627
b.Pension and other postemployment benefits (OPEB) expense
-
145,672
13,926
-
159,598
6.
-
2,994,871
29,354
-
3,024,225
C.
1. Principal payments on long-term debt
-
345,099
-
-
345,099
2.
-
2,603,402
37,092
-
2,640,494
4.
-
125,520
11,232
-
136,752
5.
-
3,074,021
48,324
-
3,122,345
D.
22,380,927
$
10,294,565
$
608,893
$
-
$
33,284,385
$
Amounts reported on part II, line A
Description
Total expenditures/expenses/deductions and applicable other financing
uses, special items, and extraordinary items reported within the fund
financial statements
Total subtractions
Additions:
Capital asset acquisitions
Pension and OPEB contributions paid in the current year
Total additions
TOWN OF WICKENBURG, ARIZONA
NOTE TO THE ANNUAL EXPENDITURE LIMITATION REPORT
JUNE 30, 2024
5
Note 1 The Annual Expenditure Limitation Report (AELR) is presented as prescribed by the Uniform Expenditure
Reporting System (UERS), as required by Arizona Revised Statutes §41-1279.07. The AELR excludes expenditures,
expenses, or deductions of certain revenues specified in the Arizona Constitution, Article IX, §20, from the total
expenditures, expenses, or deductions reported in the fund financial statements.
In accordance with the UERS, a note to the AELR is presented below for any exclusion claimed on part II and each
subtraction or addition in the reconciliation that cannot be traced directly to an amount reported in the fund financial
statements. All references to financial statement amounts in the following notes refer to the statement of revenues,
expenditures, and changes in fund balances for the governmental funds; statement of revenues, expenses, and
changes in fund net position for the proprietary funds; statement of cash flows for the proprietary funds; and the
statement of changes in fiduciary net position for the fiduciary funds.
Note 2 The exclusion claimed for debt service requirements consists of principal retirement and interest expenditures
in the governmental funds of $459,608 and $39,295, respectively.
Note 3 The $2,230,441 exclusion claimed for dividends, interest, and gains on the sale or redemption of investment
securities in the governmental, business-type, and internal services funds includes investment earnings expended of
$2,293,067 less lease revenue of $62,626.
Note 4 The following schedule presents revenues from which exclusions have been claimed for federal grants and
aid, amounts received from the State of Arizona or private sources in the governmental funds:
Governmental
Enterprise
Funds
Funds
Grants and aid from the federal government
Coronavirus State and Local Recovery Funds
1,145,286
$
-
$
Airport Improvement Program
-
1,364,310
1,145,286
$
1,364,310
$
Grants and aid from state or private sources:
Transit grant
16,717
$
-
$
Arizona fire safety grant
59,396
-
Maricopa county social services grant
48,947
-
ADOT runway reconstruction grant
-
817,200
Salvation army grant
29,923
-
State appropriations
993,154
-
Miscellaneous state grants
75,852
-
Miscellaneous county grants
1,000
-
Total grants and aid from state or private sources:
1,224,989
$
817,200
$
Amounts from the State of Arizona
Prop. 207 - smart and safe
101,618
$
-
$
TOWN OF WICKENBURG, ARIZONA
NOTE TO THE ANNUAL EXPENDITURE LIMITATION REPORT
JUNE 30, 2024
6
Note 5 The exclusion of amounts received from the State of Arizona includes expenditures of state appropriations
(Senate Bill 1720 of the 56th Legislature, 1st Regular Session) of $993,154. Total state appropriations received during
the fiscal year was $3,400,000.
Note 6 The exclusion of $867,512 claimed in the governmental funds for amounts expended for which reimbursement
has been received from another political subdivision were related to payments made with the Wickenburg Rural Fire
District.
Note 7 The exclusion claimed for amounts expended from funds which were reimbursed to the Town were related to
payments made from the Wickenburg Unified School District for $176,718 that were claimed in the governmental
funds.
Note 8 The subtraction and addition for pension expense and pension contributions, respectively are as follows:
Enterprise
Internal Service
Funds
Funds
Change in net pension liability
5,911
$
834
$
Change in deferred outflows of resources
23,901
2,664
Change in deferred inflows of resources
(9,660)
(804)
20,152
$
2,694
$
Pension expense
145,672
$
13,926
$
Pension contributions
(125,520)
(11,232)
20,152
$
2,694
$
Note 9 The addition for enterprise fund capital asset acquisitions includes total enterprise fund additions of
$3,748,688 less capital contributions received from the governmental funds of $1,145,286. This capital contribution is
included as an expenditure in the governmental funds.