Supporting Document (90807104...)

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FY 2024/25 
Year-End Financial Report
City Council | January 13, 2026
Sonia Andrews, City Treasurer/Chief Financial Officer
Item WS01

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Year End Financial Report Timeline
November
Audit Committee 
Presentation
June 30, 2025 
Fiscal 
Year-End
September 
General Fund 
Preliminary Results 
Presented to Council
August – October 
Year- End Closing and 
Independent Audit
January 
Council 
Presentation

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52nd Consecutive Year for 
GFOA Excellence in 
Financial Reporting Award

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• FY24/25 Operating Results
• 6/30/25 Balance Sheet and Financial Trends
• Report on State Imposed Expenditure Limitation (Policy No. 1.06) 
Year-End Presentation Highlights

5
Operating Results
Fiscal Year 2024/25 Year-End Presentation

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In millions
FY23/24 FY24/25 Chng* % Chng 
Revenues 
456 
467 
11 
2%
Expenditures
(376)
(383)
7 
2%
Other Sources and (Uses) 
(60)
(27)
(33)
-55%
Net Change in Fund Balance 
20 
57 
General Fund 
Operating 
Results 
FY 2024-25
• Revenues increased from sales taxes, fees and charges 
and unrealized investment gains offset by decrease in 
state shared taxes
• Other sources (uses) decreased due to lower transfers 
out to capital projects 
* Increases shown as positive amounts and decreases shown as negative amounts.
General Fund

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FY23/24 
FY24/25 
Chng *
% Chng 
Sales Tax  
193
197            
4             
2%
State Shared Revenues 
114
103
(11)
(10%)
Property Tax
37
37
-
-
Fees and Charges
98
108
10
10%
Net Increase in Fair Value of Investments
14
22
8
57%
Total Revenues
456
467
11
2%
Public Safety 
(203)
(212)
9
4%
Community Services 
(48)
(53)
5
10%
Other City Services
(73)
(78)
5
7%
General Government
(38)
(39)
1
3%
Capital Outlay 
(14)           
(1)
(13)
-93%
Total Expenditures
376
383 
7
2%
Breakdown of General Fund Revenues and Expenses 
In millions
* Increases shown as positive amounts and decreases shown as negative amounts.

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Other 
Governmental 
Funds** 
Operating 
Results 
FY 2024-25
• Revenues increased due to receipt of additional grants 
and regional transportation funds
• Lower transfers in from General Fund and other funds
• Expenditures decreased with completion of projects 
and timing of other projects
 
Capital Projects Funds**
*  Increases shown as positive amounts and decreases shown as negative amounts
**Excludes Water/Sewer, Airport and Solid Waste capital projects
In millions
FY23/24 FY24/25 Chng*
% Chng 
Revenues
45
68
23
51%
G.O Bond Issuance
-
107
107
100%
Transfers In (Out)
127
80
(47)
(37%)
Capital Expenditures
(173)
(149)
(24)
(14%)
Net Change in Fund Balance
(1)
106

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Other 
Governmental 
Funds** 
Operating 
Results 
FY 2024-25
• Restricted revenues include restricted taxes, transient 
lodging tax, and other restricted revenues 
• Expenditures decreased due to lower debt service
 
Other Restricted Funds
*  Increases shown as positive amounts and decreases shown as negative amounts
**Excludes Water/Sewer, Airport and Solid Waste capital projects
In millions
FY23/24 FY24/25 Chng*
% Chng 
Revenues and Other Sources
302
311
9
3%
Expenditures and Other Uses
(289)
(276)
(13)
(4%)
Net Change in Fund Balance
13
35

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In millions
FY23/24 FY24/25 Chng* % Chng 
Revenues 
247 
271
24
10%
Expenditures
(216)
(208)
(8) 
-4%
Non-Operating Activity 
40
29         
(11)      
-27%
Change in Net Position 
70 
91        
Enterprise 
Funds 
Operating 
Results 
FY 2024-25
• Revenue increase reflects higher water/sewer revenues
• Operating expenditure increases were offset by an 
increase in the sewer fund’s equity in joint venture  
• Other sources decreased due to lower developer 
contributions 
* Increases shown as positive amounts and decreases shown as negative amounts.
Enterprise Funds

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Balance Sheet and Financial Trends
Fiscal Year 2024/25 Year-End Presentation

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Balance Sheet  
(in millions)
6/30/24 
6/30/25 
Change 
% Change 
Assets 
Cash & Investments 
1,096 
1,336 
240 
22%
Capital Assets, Net 
6,602 
6,743 
141 
2%
Other Assets 
497 
537 
40 
8%
Total Assets 
8,195 
8,616 
421 
5%
Liabilities 
Bonds, Loans and Other Debt 
802 
931 
129 
16%
Net Pension Liability 
352 
336 
(16)
-5%
Other Liabilities 
326 
276 
(50)
-15%
Total Liabilities 
1,480 
1,543 
63 
4%
• Increase in assets and liabilities due to operating surpluses, unspent new bond 
proceeds, increase in capital assets and decrease in pension and other liabilities.
Source: Audited Annual Comprehensive Financial Reports

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$1,336M in Cash & Investments at 6/30/25 
Amounts in Millions
Source: Audited Annual Comprehensive Financial Reports
General Fund, 
$270 
Other Restricted 
Funds, $261 
Capital Projects Funds, 
$391 
Enterprise Funds, 
$332 
Internal Service Funds, 
$82

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Liquidity  5 Year Trend 
Quick Ratio (cash & investments / current liabilities) at 6/30/25
2.8 
2.8 
3.2 
3.3 
4.3 
2021
2022
2023
2024
2025
• Increase at 6/30/25 primarily due to unspent new bond proceeds
2024 Peer Cities 
Average 4.2
City maintains cash 
reserves for:
• Emergencies and 
unexpected events 
• Economic downturns
• Self insurance 
programs
• Reserves for capital 
needs 
• Maintain AAA bond 
ratings

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$6,743M Net Book Value of Capital Assets at 6/30/25
Land, $3,566 
Water and Sewer Systems, 
$1,297 
Streets and Storm Drains, 
$674 
Buildings and Improvements, 
$626 
Construction in Progress, 
$379 
Equipment and Other, $200 
Amounts in Millions
Note: Amounts are original cost net of depreciation. Rounding differences may occur.

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$1,267M in Debt and Pension Liabilities at 6/30/25 
Source: Audited Annual Comprehensive Financial Reports
Water and Sewer Debt, 
$319 
Preserve Debt, 
$151 
Other Excise Tax Supported Debt, 
$138 
Property Tax Supported Debt, 
$277 
Net Pension Liability, $336 
Other Obligations, $46

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Debt Service and Required Pension Contributions 
as Percent of Total Revenues 5 Year Trend 
23%
21%
18%
19%
18%
2021
2022
2023
2024
2025
Governmental Funds
(excludes Water/Sewer and Aviation Debt)
2024 Peer Cities 
Average 15%

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Pension Funded Status 5 Year Trend  
2024 Peer Cities Average
Police 82%
Fire 83% 
84.9%
86.0%
84.3%
84.0%
81.5%
71.5%
72.7%
73.1%
74.0%
75.6%
56.2%
65.5%
68.7%
71.9%
74.8%
2021
2022
2023
2024
2025
PSPRS - Scottsdale Fire
State ASRS
PSPRS - Scottsdale Police
Source: ASRS and PSPRS Actuarial Reports
Valuation

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City Maintained AAA Bond Ratings
•
Strong Reserves and Liquidity
•
Economic and Revenue Growth 
and Diversity 
•
Manageable Debt and Liabilities
•
Sound Financial Policies and 
Practices 
Note: a fund balance >=20% of operating expenditures and transfers out in the General Fund needed 
to maintain AAA bond ratings per Fitch Ratings report.

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Report on State Imposed Expenditure 
Limitation
Financial Policy 1.06
Fiscal Year 2024/25

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FY24/25 
%
Expenditure Limitation (calculated by State)
$613.4 
Preliminary Expenditures Subject to 
Limitation*
564.5
92%
Remaining Capacity
$48.9 
State Imposed 
Expenditure 
Limitation
FY 2024-25
* Expenditures subject to limitation excludes:
• Infrastructure expenditures
• Debt service
• Grant expenditures
• Certain other exclusions allowed by law
In millions

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