[{"_1":2,"_111":-5,"_112":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6631537,"mediaKeyId","2679757-fbaad2f6779411ad31e1a24ae832fac0","parentId",2679757,"title","Oro Valley’s PSPRS funded status improves; employer contribution rate set to fall for the coming year, staff says","audioSeconds",253,"startMs",4547000,"endMs",4800000,"viewUrl","/Search/View?dp=1&key=2679757-fbaad2f6779411ad31e1a24ae832fac0&start=4547&end=4800","thumbnailUrl","https://assets.pipeline.soar.com/2679757-fbaad2f6779411ad31e1a24ae832fac0/thumbnail_4547000.jpg","articleUrl","/articles/6631537/Oro-Valley/Pima-County/Arizona/Oro-Valleys-PSPRS-funded-status-improves-employer-contribution-rate-set-to-fall-for-the-coming-year-staff-says","mediaUrl","https://secure.pipeline.soar.com/6631537-d8db366eab85c5af3d49ca2f8c46232e/orig.mp4?Expires=1771174967&Signature=LhHqrUhJ78JrR93fIsQYcayL8pMhLAmQ0YkNFhqbQR~DYPl6ixYKMhth0WzvthqLsWGl86nslHrC0hdeT1MgKPlPQoBKgeepWuhGJ7CmZZeqKCKNBUt4Mn~jEw64f3TG7BUnRwBZUMbaPfusVgOoNPVqxHb1U3mee1QRRw4AO9Hm9xMaOcU-O2rfvh1aPUFNKraOdZkIzQkTJ36k3SwPeyql3AIWxjd02AuyE-NYxHbM9oyJouCkqOdLCxNPUGjnif1oaDT~ql4CW66nQlBpYW2O6Y-juGZeXW-nLBpVfBnYmyQGmoGntzyRQtSyPb7XWe8kPLdoDAYGhbcfT5uaKw__&Key-Pair-Id=KUT5TJCACFTXG","author","Oro Valley","date","2025-03-18T00:00:00Z","article","Town staff provided the commission with the latest Public Safety Personnel Retirement System (PSPRS) actuarial results on March 19 and outlined how recent additional contributions and actuarial experience changed the town’s funding position.

The actuarial valuation through June 30, 2024 shows a funded status of approximately 98.6% for the plan, staff reported. That improvement, combined with additional town contributions of $2.5 million made in the prior fiscal year, reduced the employer contribution rate from 16.22% (the prior actuarial calculation) to a projected 12.61% effective for the coming fiscal year, staff said.

Staff emphasized these are actuarial estimates and described the elements that influence the calculation, including the normal cost, employee contributions (7.65% statutorily set), and an amortization payment to address any remaining unfunded actuarial accrued liability. Staff noted the plan uses a seven‑year smoothing method for investment gains and losses; the plan’s assumed earnings rate is 7.2% and the actuarial (smoothed) return for the most recent year was about 7.1%.

The presenter also reviewed the town’s prior actions on pension funding: council previously authorized a $10 million use of excess reserves and issuance of pension obligation bonds (about $17 million issued) to address a larger unfunded liability in earlier years. Staff said the town currently makes quarterly additional contributions (about $1.485 million in the current fiscal year to date) that, along with normal contributions and investment performance, are expected to restore the plan to or above 100% funded in the near term, assuming actuarial assumptions hold.

Commissioners were given a chart showing how additional one-time contributions would change funded status and future employer rates; staff said the presentation was informational and that there was no expectation of formal action during the meeting.","mediaType","Video","parentTitle","Oro Valley - Budget and Finance Commission - Mar 18, 2025","oneSentenceSummary","An actuarial update presented March 19 shows Oro Valley’s PSPRS funded status rose to about 98.6% as of June 30, 2024; the town’s required employer contribution rate is projected to drop from 16.22% to 12.61% for the next fiscal year, staff reported.","taxTitle","Oro Valley, Pima County, Arizona","taxId",55016,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6631542,"Five-year forecast shows capital fund pressure; staff flags transfers to highway fund and options for new revenue",287,1897000,2184000,"/Search/View?dp=1&key=2679757-fbaad2f6779411ad31e1a24ae832fac0&start=1897&end=2184","https://assets.pipeline.soar.com/2679757-fbaad2f6779411ad31e1a24ae832fac0/thumbnail_1897000.jpg","/articles/6631542/Oro-Valley/Pima-County/Arizona/Five-year-forecast-shows-capital-fund-pressure-staff-flags-transfers-to-highway-fund-and-options-for-new-revenue","https://secure.pipeline.soar.com/6631542-08dd008371a9c4a2841bcfe727be1bfb/orig.mp4?Expires=1771174967&Signature=KsshWrE9FUe5vcBBWXHAzAjIQ0qwLRiRnSVOTK~yxCgFR~XKYlAyL7G3dqwcgUef2Cjm1uGKsgzYlMWbrA5hRRbtBRT3eScjv0VA4JL8B2V8U3GDbKMIBZvL9rDycT-4PrNOSSr6epIqcZ3WiKcHb8rHEhUYQPP~Q0J42-D5FPPFzD34echsx3SY9oEEEJuRSwdZQLX3pkyYERPnpnqcU7HPN6beC3jj9BGfAEyZVopsnUkRS~2j~UTV322y4s2y7VLTMcQpYW4yXUi1lxrIShH8fJNi29ShZuZCbPNFMgP72bzcXEgfZASqoptWF0~fToBfoyNTFaG24D4uBhSxRA__&Key-Pair-Id=KUT5TJCACFTXG","Town staff told the Budget and Finance Commission on March 19 that a five-year financial forecast indicates increasing pressure on the capital program and highway fund, driven by lower state-shared revenues and rising recurring costs.

“There are really three main issues causing the capital fund to go negative,” a staff presenter said, citing a decline in state-shared revenues, continuing inflationary pressure on personnel and O&M costs, and highway fund pavement-preservation needs that exceed HEERF revenues. The presentation showed the capital fund turning negative in year five of the forecast under current assumptions.

Staff said general fund recurring revenue growth was modeled conservatively at roughly 1–5% in most sales-tax categories and that construction sales-tax activity is expected to remain subdued because of reduced developable land. The forecast assumes limited new full-time-equivalent positions (FTEs) over the period and includes modest annual employee benefit increases and step increases for sworn police personnel.

Key forecast points presented by staff included:
- The town relies heavily on local sales tax and state-shared revenue; a drop in either materially reduces available surplus that historically funds capital projects. Staff noted state-shared revenues will not fully recover to fiscal year 2024 levels until about fiscal year 2028 under the baseline forecast.
- Highway fund pavement-preservation needs are forecast at roughly $3–3.2 million per year (up from about $2 million historically); total transfers needed into the highway fund over the five-year period were cited as about $13 million (not including the current fiscal year). Staff said those transfers primarily come from the capital fund, which is in turn funded largely by the general fund.
- The draft capital plan includes a budgeted $5 million cash contribution toward a police facility in fiscal year 2027; staff did not assume associated debt issuance in the baseline forecast because facility scope and financing decisions are unresolved.

Commissioners asked if new tax categories or annexation were being considered to improve revenue; staff said they were evaluating options and have a public outreach plan but that no new tax categories had been approved by council. Staff also noted the regional RTA “RTA Next” initiative and state-level proposals (including discussions about how electric vehicles affect gas-tax collections) are external factors that could affect the highway fund and were being monitored.

Staff concluded that the forecast is a planning document, not an appropriations schedule; the town manager’s recommended budget will set appropriations and appear later in the budget process.","A preliminary five-year forecast presented March 19 projects a capital fund shortfall in later years, rising highway preservation costs and constrained surplus that historically funds CIP; staff said no new taxes were approved but options are being evaluated.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6631548,"Oro Valley staff report lower-than-expected revenues through December and project personnel and transfer savings",44,635000,679000,"/Search/View?dp=1&key=2679757-fbaad2f6779411ad31e1a24ae832fac0&start=635&end=679","https://assets.pipeline.soar.com/2679757-fbaad2f6779411ad31e1a24ae832fac0/thumbnail_635000.jpg","/articles/6631548/Oro-Valley/Pima-County/Arizona/Oro-Valley-staff-report-lower-than-expected-revenues-through-December-and-project-personnel-and-transfer-savings","https://secure.pipeline.soar.com/6631548-1d8219df764082e17b4348fdcba0587b/orig.mp4?Expires=1771174967&Signature=MKoq18T9b8-zB-6O4KYfv~HSqtYQzLR4RGf8kOml1sRlsDEpHS7VmIGSqaWM~eM0CI7n0GB5-6kjZbnB8heQ2GlSS8UMMxnxNfEXg-CvaLhpBstXrD2w2YKHN9NaCHAhXbBFG0ZLCTS3jdRzw-Abjr2DBY3p5nU4sQ0LQEOFDPVqWEsq4YA8Qt9i81YtNa6EOofdvcHDRCEBJfsV-MCxBint-T7P1I~EGAn0TYVyhV4Q3Zsl8ZOU7Wf0YokIH8KGInXk2X2WjSe-p8qLSbUqjnM3hx5WML0jHisvVLvZv3Nqf3CpPvyuoVrKnCgg4HxVInP1eeHuKwpBIqRujnCQ0g__&Key-Pair-Id=KUT5TJCACFTXG","Town staff told the Oro Valley Budget and Finance Commission on March 19 that preliminary, unaudited financial results through December 2024 show lower general fund revenues and projected savings on the expenditure side.

“Our amounts, our actuals, and our estimates are both preliminary. They’re obviously unaudited,” staff member Wendy said when she began the presentation, cautioning that year-end results could change. Through December, general fund revenues were at 47% of budget and about $1.7 million (roughly 6%) below last year, she said; the two largest revenue sources—local sales tax and state-shared revenues—were down year over year.

Construction sales tax was the largest driver of the local sales-tax decline, falling about 25% compared with the prior fiscal year, staff reported. Retail sales tax growth and remote-seller categories were weaker than in prior years, and officials said holiday sales were not yet fully reflected in the December figures.

On the expenditure side, staff reported estimated personnel savings of about $970,000 driven by turnover, lower replacement salaries and some vacancies. Operations and maintenance (O&M) spending is projected to come in about 3% below last year with expected savings of roughly $400,000 across departments. Transfers out to other funds are forecast to be slightly lower than budgeted—year-end transfers are estimated at about $9.192 million compared with a budgeted $9.4 million.

Because of projected expenditure savings, the town estimates a use of general fund balance of about $2.5 million for the fiscal year versus a budgeted use of roughly $4.1 million. Ending general fund balance is estimated at about $19.6 million, which staff noted would exceed the council’s 30% reserve policy by about $4.3 million.

Staff also reviewed other funds:
- Highway fund: Revenues flat when transfers are excluded; some capital transfers were needed to supplement pavement-preservation activity. Highway user revenues are on budget.
- Community Center fund: Revenues are up roughly 4% year over year. Golf rounds were reported up 8.4% year over year and nearly 9.8% above budget; the fund is expected to add to its balance and end the year near $2 million.
- Capital fund: Capital outlay through December was about $2.5 million and is expected to accelerate in the second half of the fiscal year; planned transfers to grants and other funds will be posted at year end and will depend on actual grant awards.
- Water utility fund: Water sales are projected about 1.2% below budget because consumption trends are lower; interest earnings are expected to exceed budget by roughly $200,000. Meter replacements are expected to drive higher capital spending in the water fund.
- Stormwater fund: Revenues expected to end on budget; two capital projects noted (Sierra Wash at Via Mandarina and Oro Valley Country Club drainage and pavement improvements); ending fund balance estimated about $756,000.

Staff emphasized that many figures remain preliminary and unaudited and that the March financials will reflect payments and billings posted after December.","Town staff told the Budget and Finance Commission on March 19 that Oro Valley’s general fund revenues through December were at roughly 47% of budget and down about $1.7 million from last year; personnel vacancies and reduced transfers are producing projected savings for the fiscal year.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":104,"_47":105,"_49":106,"_51":107,"_53":108,"_55":56,"_57":58,"_59":109,"_61":62,"_63":64,"_65":110,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6631551,"Budget and Finance Commission elects interim chair and vice chair, approves minutes",370,220000,590000,"/Search/View?dp=1&key=2679757-fbaad2f6779411ad31e1a24ae832fac0&start=220&end=590","https://assets.pipeline.soar.com/2679757-fbaad2f6779411ad31e1a24ae832fac0/thumbnail_220000.jpg","/articles/6631551/Oro-Valley/Pima-County/Arizona/Budget-and-Finance-Commission-elects-interim-chair-and-vice-chair-approves-minutes","https://secure.pipeline.soar.com/6631551-c9516179c4f6044374c0c946e50c4372/orig.mp4?Expires=1771174967&Signature=T8wfDIQx0W9wYTbxUSx~m66a7FXkpfsuLO2lsrnkKPbScI1eLadsP4cd4NEYg3bAFY54Z92h3D2xz4lCGAi5wHZ9u3z6Udw8~opPZ7EXHHUjPuMPcOCBYCODtG1GCmEPBoF8ND1PwtGK0~3htXo2oDUXZ26vhrl-1fATRSjrffo2ZYt9xKT6y2gG2nY7iDGFa4Yzzyg0ZbS1VwJwpeNpyIe~iX2rLdJMEmDqVosGfyuamjOxoa5-80GZjJkYomFRZ43umXMAlJBvjv23nWYAxnCRQ9zDr60tBJkSd2oUliG~7vY3UAlW0X8HJ5PQiZpgMpFEixdMee8WBfSyOle-Aw__&Key-Pair-Id=KUT5TJCACFTXG","The Oro Valley Budget and Finance Commission on March 19 elected interim leaders for the remainder of the year and approved meeting minutes from January and February.

Commissioner Mike Mason was authorized to run the March 19 meeting after a motion and second were called and approved. The commission later voted to appoint Vice Chair Joyce Garland as chair beginning March 19, 2025; that motion was made by Commissioner Mike Mason and seconded by Commissioner Kalzberg, and commissioners voted in favor. The commission then elected Commissioner Kalzberg as vice chair; that motion passed following a second.

Members also approved the minutes for the Jan. 21 and Feb. 18, 2025 regular-session meetings after motions and seconds were made and carried by voice vote.

The meeting concluded with a motion to adjourn that passed unanimously.

The votes were routine and took place during the beginning and end of the regular session; no substantive policy items were adopted as part of these motions.","The Oro Valley Budget and Finance Commission chose temporary leadership for the year and approved two sets of meeting minutes during its March 19, 2025 regular session.","actionData","errors"]

Article not found

Oro Valley’s PSPRS funded status improves; employer contribution rate set to fall for the coming year, staff says

Five-year forecast shows capital fund pressure; staff flags transfers to highway fund and options for new revenue

Oro Valley staff report lower-than-expected revenues through December and project personnel and transfer savings

Budget and Finance Commission elects interim chair and vice chair, approves minutes