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Home My WebLink AboutAnnual Expenditure Limitation Report June 30, 2007 TOWN OF MARANA, ARIZONA ANNUAL EXPENDITURE LIMITATION REPORT YEAR ENDED JUNE 30, 2007 TOWN OF MARANA, ARIZONA ANNUAL EXPENDITURE LIMITATION REPORT YEAR ENDED JUNE 30, 2007 ContentsPage Independent Auditors' Report1 Annual Expenditure Limitation Report - Part I2 Annual Expenditure Limitation Report - Part II3 Annual Expenditure Limitation Report - Reconciliation4 Note to the Annual Expenditure Limitation Report5 TOWN OF MARANA, ARIZONA ANNUAL EXPENDITURE LIMITATION REPORT - PART I YEAR ENDED JUNE 30, 2007 1. Economic Estimates Commission expenditure limitation 9,294,960$ 2. Voter-approved alternative expenditure limitation128,043,810 (Approved June 20, 2006) See Note 1 3. Enter applicable amount from Line 1 or Line 2 128,043,810$ 4. Amount subject to the expenditure limitation (total amount from Part II, Line C) 77,791,295 5. Amount under the expenditure limitation50,252,515$ I hereby certify, to the best of my knowledge and belief, that the information contained in this report is accurate and in accordance with the requirements of the uniform expenditure reporting system. Signature of Chief Fiscal Officer: Name and Title:Erik Montague, Finance Director Telephone Number:(520) 382-1900Date: See accompanying note to the report. TOWN OF MARANA, ARIZONA NOTE TO THE ANNUAL EXPENDITURE LIMITATION REPORT YEAR ENDED JUNE 30, 2007 Note 1 - Summary of Significant Accounting Policies The Annual Expenditure Limitation Report (AELR) is presented on the basis of accounting prescribed by the Uniform Expenditure Reporting System (UERS), as required by Arizona Revised Statutes Section 41-1279.07, and in accordance with the voter-approved alternative expenditure limitation plan adopted on May 17, 2005 as authorized by the Arizona Constitution, Article IX, Section 20(9). This plan provides for the Town to allow the Mayor and Council to adopt an annual expenditure limitation each year, which for fiscal year 2006-2007 equaled the budget of $128,043,810. This budget was adopted formally on June 20, 2006.