Read Q3 2012 Inside the Vault.
Arizona's
fiscal year ended June 30th. Below are a few financial highlights for 2012:
ENDOWMENT TRUST FUND
-Market Value = $3.52 BILLION, +$230 MILLION YOY
-Unrealized Gains = $911 MILLION, +$111 MILLION YOY
CHECKING ACCOUNT
-Average Daily Cash Balance = $1.3 BILLION, +$483 MILLION YOY
INVESTMENT EARNINGS
-Distributions = $134.8 MILLION, +$78.2 MILLION YOY
BUDGET
-Revenue Collections = $9.04 BILLION, +$636 MILLION YOY
-General Fund Spending = $8.66 BILLION
-Ending Balance = $379 MILLION
And, Arizona has put $450 MILLION in a savings account to help cover any projected budget shortfalls we may face after the expiration of the one-cent sales tax in 2013.
Our economy has been slowly recovering and we have worked hard to get our financial house in order. We've come a long way from 2009 when Arizona was borrowing money on a credit card to cover daily operating expenses, and in 2011 when our state budget was described as the most structurally broken of any state on a per capita basis.
I applaud the Governor and Legislature for the tough decisions they made to help get us back on track.
Still, we're not yet out of the woods.
Although we are heading in the right direction, Arizona needs to develop a plan to address our state debt and other issues on the state's balance sheet. We need to learn from the mistakes in our past and focus on long-term solutions.
We have, and can continue, to do it together.
As an elected official representing taxpayers I'm committed to working with fiscally responsible citizens and lawmakers to ensure we continue down this encouraging path towards growth.
Sounds simple enough, but you only need to look to our neighbors to the west and see how easily state and municipal budgets can spiral out of control.
As a voter I hope you will continue to hold all school board, city, county, state and federal elected officials accountable for their financial decisions.
If you would like to know Arizona's daily cash balance or want more frequent updates and commentary you can go to www.aztreasury.gov or follow me on Facebook at www.facebook.com/dougduceyazor on Twitter @dougducey.
ENDOWMENT TRUST FUND
-Market Value = $3.52 BILLION, +$230 MILLION YOY
-Unrealized Gains = $911 MILLION, +$111 MILLION YOY
CHECKING ACCOUNT
-Average Daily Cash Balance = $1.3 BILLION, +$483 MILLION YOY
INVESTMENT EARNINGS
-Distributions = $134.8 MILLION, +$78.2 MILLION YOY
BUDGET
-Revenue Collections = $9.04 BILLION, +$636 MILLION YOY
-General Fund Spending = $8.66 BILLION
-Ending Balance = $379 MILLION
And, Arizona has put $450 MILLION in a savings account to help cover any projected budget shortfalls we may face after the expiration of the one-cent sales tax in 2013.
Our economy has been slowly recovering and we have worked hard to get our financial house in order. We've come a long way from 2009 when Arizona was borrowing money on a credit card to cover daily operating expenses, and in 2011 when our state budget was described as the most structurally broken of any state on a per capita basis.
I applaud the Governor and Legislature for the tough decisions they made to help get us back on track.
Still, we're not yet out of the woods.
Although we are heading in the right direction, Arizona needs to develop a plan to address our state debt and other issues on the state's balance sheet. We need to learn from the mistakes in our past and focus on long-term solutions.
We have, and can continue, to do it together.
As an elected official representing taxpayers I'm committed to working with fiscally responsible citizens and lawmakers to ensure we continue down this encouraging path towards growth.
Sounds simple enough, but you only need to look to our neighbors to the west and see how easily state and municipal budgets can spiral out of control.
As a voter I hope you will continue to hold all school board, city, county, state and federal elected officials accountable for their financial decisions.
If you would like to know Arizona's daily cash balance or want more frequent updates and commentary you can go to www.aztreasury.gov or follow me on Facebook at www.facebook.com/dougduceyazor on Twitter @dougducey.
Thank
you for your ongoing support.
Sincerely,
