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What is the Town's overall financial health?

The Town of Oro Valley’s financial health continues to be strong, as we expect to close out the 2017-18 fiscal year with an estimated $2.6 million surplus from fiscally responsible spending and strong sales tax collections due to a local economy that continues to improve both at the state and local level. These surplus funds will be deposited into the Town’s capital fund savings account for future planned projects.

The Town of Oro Valley retains a very healthy 28.5 percent general fund reserve balance, a fund that has consistently been maintained at or above the Town Council policy of 25 percent minimum. As in previous years, the Town will finance some of the planned improvements through a tax exempt municipal bond, which enables local government to capitalize on current—rather than projected rising—construction costs. This funding mechanism also assures financial participation by future residents—not just current residents—as debt service payments will be made from sales taxes, impact and utility fees. With its excellent AA- bond rating, the Town expects very low bond interest rates.

Impressively, the Town has ended every fiscal year “in the black” for the past six years, with revenues meeting or exceeding expenses. On top of that, the Town of Oro Valley has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada for its comprehensive annual financial report for the 23rd year in a row. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting.

To learn more about the Town’s budget and financial health, be sure to visit our FY 2018-19 budget information page. Click here to view.

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