Annual Expenditure Limitation Report
Extracted text (via ocr_local)
8853 characters
Advisent Assurance LLP 858.565.2700 www.advisent.com TOWN OF WICKENBURG, ARIZONA ANNUAL EXPENDITURE LIMITATION REPORT Fiscal Year Ended June 30, 2025 TOWN OF WICKENBURG, ARIZONA TABLE OF CONTENTS YEAR ENDED JUNE 30, 2025 Table of contents Page Independent accountants’ report 3 Annual expenditure limitation report—part I 4 Annual expenditure limitation report—part II 5 Annual expenditure limitation report—reconciliation 6 Note to annual expenditure limitation report 7 Advisent Assurance LLP 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, 2025, 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. Ldviger, gguramoes LLP Mesa, Arizona February 18, 2026 858.565.2700 - a www.advisent.com > a yodas uol}0}/ WI) ainjjpuadxa jonuud ay} 0} sajou BulAupdwio290 aas 9707 ‘8T Asenigea4 = :a}eq TSbS-b89-876 ‘Jequinu suoydajeL Jopatig aoueuly ‘ZaulseW Waqoy 13;99 pue owen [LP ey Tepe 1480JO J2IOURULJ Jalyo yo ainyeubis ‘waysds Buliodas ainzipuadxa WuOJIUN a4} yo SjUaWa4|Nbas 34} YM sdUepsooIe Ul pue azesnooe SI Odd4 S14] UI PAU!E}JUOD UO!EWIOJU! BY} Jeu ‘Joljaq pue abpajmouy Aw Jo JSsaq ay} 0} ‘AjIqUaO Aqasay T €9S'TSp'TE $ UO!E}LUI] DINIPUsdxa ay} (JO sSBdx9 Ul) JaPUN JUNOWY *"€ 9bL'88b'67 (D aul ‘IT Wed Wody JUNOWe 2303) UO!JE}LWI| e4nzIpusdxe ay} 0} Palqns yuNoWYy *Z 60€'0r6'09 $ UO!ZEYLUI| BAN}IPUSdxa UOISSIWILUOD S9}EWIISA DIWOUOIZ *T SZOZ ‘O€ ANNE G3GN3 YVAA I LUYWd — LYOd3sy NOILVLIWIT JYNLIGNAdX]A IWNNNV VNOZIUYV ‘DYNANINOIM 4O NMOL yodas uol}0}/ WI) ainjjpuadxa jonuud ay} 0} sajou BulAupdwio290 aas 9rz'8sr'6z $ 900’02S $ Gtz'srs’oT $ EZT'TSE’sT $ uoneywi| ainjipuadxa ayj 0} pealqns sjunowy ‘D 6b2'9Eb'9 7v9'0T 7826 €8Z’T0S’S Pawe|d Suo|snjoxa |e}0L €66' VEE - - €65' VEE (Z 2JON) Sal4aA0da4 JaYjO pue ‘s}UdaWasJNqual ‘spuNjay "9 9SZ'v9L - - 9SL'b9L (9 9}ON) SuOISIAIpqns Jed!}!]0d 4240 YIM SPpeI}UOD *S 962'€09'Z - - 962'€09'Z (§ 210N/p 230N) eUOZIY Jo a}e]S BY} WO. parladau sjUNOWY ‘p OvZ'99T - SSS‘8ET S8T‘8Z (y 230N) sexe} JO nal] Ul panlase4 sjunowe ydaoxa ‘JenpiAipul 4o ‘uoIyezIUeb41O ‘Aouabe ayealid e Wo. sy 40 ‘suoinqli4jUod ‘pie ‘sjUeIDd “¢ Z9b'290'Z 7p9'0T 692'S8Z TSS‘TLZ'T (€ 830N) Selqinoas JUaLtUyseAU! JO UOIWdWapal JO ajes ay} UO SUJeB pue ‘ySaJajU! ‘SPUAPIAIG *Z Z06'86r - - Z06'86r (Z 8}0N) SJUaWA.INbas ad|AJas 3Gaq “T :paulejo SuOISNjOxe ssa] ‘ G66'vze'se $ 879'08S $ G6E0'CLH'TT $ 956'2Sr'bz $ aul] ‘Uo!7e!]!19U0d84 a4} UO payodas sjunowy ‘yy [eIOL Spuny spung spung spunj uodisosaq Ageionpi4 BOIAJES aslidiaqug JeyUsWUIZA05 Jeusa}UT I GZOZ ‘O€ ANNE G3GN3 YVAA I LYWd — LYOd3sy NOILVLIWIT JYNLIGNAdX] IWNNNV VNOZIUV ‘DYNANANOIM JO NMOL yodas uol}0}/ WI) ainjjpuadxa jonuud ay} 0} sajou BulAupdwio290 aas ev9'sos’9e $ - $ 8908S $ 6€0'%Zp'TT $ 956'CSb’b~ $ Y aul ‘II Wed uo payiodai sjunowy ‘q 0S6/€€S‘E - v6T'be 9S2'60S‘€ - SUOIppe [eIOL "py 7SS€9T - 9E8bT OTL'8bT = 4ead yuasind ayy U! pled Suo!yng!4jUOD g34dO Pure UOISUad "€ 86c'0ZLE'E - 8Se'6 Ov0'T9E'E - suoisinboe yasse jeyides ‘Zz - - - - - qqap wWu49}-buo) uo sjyuawAed jedioulid ‘T :suONIPpY *D pLT'y9Z'E - 986'ZE 88T'97Z'E - suolpesjqns |e}01 Z T7S'8ST - viz Or LOE'SbT - asuadxa (gd4dO) s}yauaq JUaWAo|dWajsod 4Jay}O pue UOISUdd 'q €S9‘SOT’E - ZLL'LZ T89’ZL0'€ - uoeziiowe pue uoielseidaq 'e :sad4unosas jeOuUeUIY JUdIIND yO asn BuliInbay you SWAT *T rsuoloe4yqns “g L98'SEZ'9E $F$ - $ Obb'6S $ TLr’BsT'TT $ 956'7Sb'bz $ squawiejejs jeloueuy puny ayy ULI payodas sua} Aseuipsoesjxe pue ‘sway! jelads ‘sasn Buloueuls 4auj0 ajqeo)|dde pue suolonpap/sasuadxa/sainjipuadxa je}01 "V 12301 spunj spun spunj spun uoldioseq Aseronpi4 B01AsaS aslidsaqug JequawWUaA05 Jeusaquy GZOZ ‘O€ ANNE G3GN3 YVAA NOILVITISNOO34 - LYOdAY NOILVLIWIT JUNLIGNAdX]S TWANNV VNOZIUV ‘DYNANINOIM 4O NMOL TOWN OF WICKENBURG, ARIZONA NOTES TO THE ANNUAL EXPENDITURE LIMITATION REPORT YEAR ENDED JUNE 30, 2025 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 $469,775 and $29,127, respectively. Note 3 The $2,067,462 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 $2,114,302 less lease interest revenue of $46,840. 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 state or private sources: Transit grant $ 24,614 $ - Arizona fire safety grant 127,484 - Opioid Settlement 1,065 - ADOT runway reconstruction grant - 138,555 Salvation army grant 1,506 - State appropriations 2,325,743 - Miscellaneous state grants 8,036 - Miscellaneous county grants 1,000 Total grants and aid from state or private sources: $ 2,489,448 $¢ 138,555 Amounts from the State of Arizona Prop. 207 - smart and safe $ 142,533 $ : TOWN OF WICKENBURG, ARIZONA NOTES TO THE ANNUAL EXPENDITURE LIMITATION REPORT YEAR ENDED JUNE 30, 2025 Note 5 The exclusion of amounts received from the State of Arizona includes expenditures of state appropriations (Senate Bill 1720 of the 56" Legislature, 1st Regular Session) of $2,325,743. Note 6 The exclusion of $764,756 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 $334,593 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 Funds Service Funds Change in net pension liability $ 9,746 $ 7,248 Change in deferred outflows of resources (43,706) (5,926) Change in deferred inflows of resources 34,369 3,300 $ 409 $ 4,622 Pension expense — subtraction $ (148,307) $ (10,214) Pension contributions — addition 148,716 14,836 $ 409 $ 4,622