Presentation

OVERVIEW OF FISCAL YEAR 
2025 ANNUAL 
COMPREHENSIVE
FINANCIAL REPORT
Irma Ashworth
Finance Director

2
ANNUAL 
COMPREHENSIVE 
FINANCIAL REPORT
Positive Results:
Unmodified report issued
No Findings
Follows Generally Accepted  
Accounting Principles (GAAP)
Complies with Governmental 
Accounting Standards Board 
(GASB)

FINANCIAL HIGHLIGHTS
3
$0
$200,000,000
$400,000,000
$600,000,000
$800,000,000
$1,000,000,000
$1,200,000,000
$1,400,000,000
$1,600,000,000
$1,800,000,000
Governmental
Business-Type
Total
2023
2024
2025
City-Wide Revenues Continue Strong

GOVERNMENTAL ACTIVITIES – 
REVENUES
4
 $-
 $50,000,000
 $100,000,000
 $150,000,000
 $200,000,000
 $250,000,000
 $300,000,000
 $350,000,000
 $400,000,000
 $450,000,000
Taxes
Unrestricted
Intergovernmental
Transfers
Program Revenues
2023
2024
2025

10-YEAR NET POSITION 
COMPARISON
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 $-
 $200,000,000
 $400,000,000
 $600,000,000
 $800,000,000
 $1,000,000,000
 $1,200,000,000
 $1,400,000,000
 $1,600,000,000
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Total Primary Government

TOTAL ASSETS INCREASED TO 
$6.1 BILLION
 $-
 $1,000,000,000
 $2,000,000,000
 $3,000,000,000
 $4,000,000,000
 $5,000,000,000
 $6,000,000,000
 $7,000,000,000
2023
2024
2025
Cash & Investments
Other Assets
Capital Assets
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CAPITAL ASSETS
AS OF JUNE 30, 2025
Capital Asset (net of 
Accumulated Depreciation)
Governmental 
Activities
Business-Type 
Activities
Total
Land
$       419,761,000
$        31,786,000
$      451,547,000
Infrastructure – Nondepreciable
3,597,000
17,666,000
21,263,000
Construction in Progress
171,426,000
412,953,000
584,379,000
Buildings & Improvements
586,557,000
59,748,000
646,305,000
Machinery & Equipment
148,037,000
36,636,000
184,673,000
Infrastructure
567,803,000
1,240,005,000
1,807,808,000
Intangible Assets
         27,339,000
           3,467,000
         30,806,000
Total
$   1,924,520,000
$   1,802,261,000
$   3,726,781,000
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TOTAL LIABILITIES
$4.8 BILLION
 -
 1,000,000,000
 2,000,000,000
 3,000,000,000
 4,000,000,000
 5,000,000,000
 6,000,000,000
2023
2024
2025
A/P and Accrued
Pension & OPEB Liabilities
Long-term Obligations
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LONG-TERM OBLIGATIONS
Issue Type
June 30, 2024
June 30, 2025
General Obligation Bonds
$     335,990,000
$     456,510,000
Highway User Revenue Bonds
18,540,000
7,660,000
Utility Revenue Bonds
1,063,125,000
997,790,000
Utility Revenue Obligations
323,975,000
610,650,000
Excise Tax Obligations
        31,630,000
        30,255,000
Total
$   1,773,260,000
$   2,102,865,000
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PENSION AND OPEB UNFUNDED 
LIABILITY
Plan
June 30, 2024
June 30, 2025
ASRS Pension
$    261,311,000
$    275,386,000
PSPRS - Fire Pension
261,760,000
263,264,000
PSPRS - Police Pension
498,380,000
497,926,000
PSPRS - Police OPEB
11,501,000
11,073,000
City OPEB Plan
      914,548,000
     964,031,000
Total
$  1,947,500,000
$    2,011,680,000
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Questions ?
Irma Ashworth
Finance Director
Irma.Ashworth@mesaaz.gov
(480) 644-2605