Scottsdale bond oversight panel hears $319 million program update
Summary
Committee heard a mid-cycle status update on Scottsdale's 2019 bond program, including spending and remaining issuance plans. Finance staff said about $79 million remains to be issued and that program-wide spending has continued since March.
The Citizens Bond Oversight Committee received a financial status update on the 2019 bond program at its meeting. Scott Selen, the city's finance presenter, summarized the three bond questions and the program total: "Add them all together, it's a $319,000,000 program." He said there were no changes to future funding since the prior quarterly report and that roughly $79 million remains to be issued, likely near the end of fiscal year 2026'27.
Selen walked the committee through recent activity and expenditures as of June 30, 2026, noting roughly $7.1 million in additional actual expenditures since the March report and $2.1 million added in commitments, which combined to $9.2 million drawn from remaining budget categories. When asked about the IRS timeline for spending issued bond proceeds, Selen said the city monitors compliance and does not anticipate difficulty meeting the three-year expenditure requirement for proceeds and interest.
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