Oro Valley publishes reader-friendly budget document
Published on August 15, 2023
ORO VALLEY, Ariz. (August 15, 2023) – The Town of Oro Valley’s Know Your Town’s Budget document is now available online for residents to read or download. In addition, the Town has received two national awards for financial reporting.
Know Your Town’s Budget
On June 21, the Oro Valley Town Council adopted the FY 2023/24 budget that totaled $148.5 million. This is a $785,000 or 0.5% increase from the adopted FY 2022/23 budget which totaled $147.7 million.
The Town understands that not everyone has the time to peruse a massive budget document. To make the budget more accessible, Oro Valley publishes a simple, two-page summary each year entitled, Know Your Town’s Budget. This summary provides residents with an overview of the Town’s key sources and uses of funding, as well as how the annual budget helps the Town prepare for the future. Click here to view or download the FY 2023/24 Know Your Town’s Budget summary.
The Town of Oro Valley’s annual budget is structurally balanced. The FY 2023/24 budget reflects the careful allocation of available resources toward the services our residents, businesses and visitors value and deserve. The Know Your Town’s Budget document highlights five areas of focus – capital investments, recreation and culture, public safety, the General Plan update and financial stability and sustainability. As reflected in previous fiscal years, the Town is exceptionally strong financially and does not deficit spend. Oro Valley maintains the highest bond rating in Southern Arizona at AA+.
National Awards from the Government Finance Officers Association
The Town of Oro Valley is pleased to announce two awards related to financial reporting from the Government Finance Officers Association (GFOA).
The first award is for outstanding achievement in Popular Annual Financial Reporting (PAFR) for the Town’s Popular Annual Financial Report for the fiscal year ending June 30, 2022. Each year, the Town produces an Annual Comprehensive Financial Report (ACFR) which outlines the Town’s financial position, operating activities and audited financial statements. However, due to its length and scope, the ACFR is not very reader-friendly. To make the Town’s financial information more accessible to the public, the Town publishes the PAFR annually. Year-to-date, the Town has won this award nine consecutive times. To read the current PAFR, click here.
The second award is a Certificate of Achievement for Excellence in Financial Reporting for the Town’s ACFR for the fiscal year ending June 30, 2022. The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting. Year-to-date, this is the 29th consecutive year the Town has received this award. To read the current ACFR, click here.
“Our team is grateful for the recognition from the Government Finance Officers Association for our efforts to provide the community with financial reporting reflecting best practices and standards,” said Dave Gephart, Chief Financial Officer for the Town of Oro Valley. “I am humbled to lead such an amazing team of financial professionals.”
For more information about the Town of Oro Valley’s finance documents and reporting, click here.
About the GFOA
The Government Finance Officers Association is a major professional association servicing the needs of 21,000 appointed and elected local, state and provincial-level government officials and other finance practitioners. It provides top quality publications, training programs, services and products designed to enhance the skills and performance of those responsible for government finance policy and management.