The purpose of Maricopa County’s Debt Management Plan is to set forth the parameters for issuing debt, to manage the debt portfolio and provide guidance to decision makers regarding the timing and purposes for which debt may be issued. Provisions of the debt plan must be compatible with the County’s goals pertaining to the capital program and budget, the financial plan, and the operating budget. This document is not intended to review the County’s total financial position. It is a study of the County’s current debt position, as growth in the County could result in an increased need for capital financing.

This report consists of management’s representations concerning the finances of Maricopa County. To provide a reasonable basis for making these representations, management of Maricopa County has established a comprehensive internal control framework that is designed both to protect the government’s assets from loss, theft, or misuse and to compile sufficient reliable information for preparation of Maricopa County’s financial statements. Because the cost of internal control should not outweigh their benefits, Maricopa County’s comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatement. As management, we assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material respects.

The budget process is a collaborative effort between all County offices and departments. The Office of Management and Budget, Human Resources, and the Maricopa County Elected Officials, the Judicial Branch, and Appointed County departments all participated fully. Negotiation sessions were held with all parties to discuss their base budget and budget issues. Detailed reviews of the budgets occurred prior to the negotiation sessions, and allowed a fruitful discussion to transpire. Many departments were able to fund their compensation or other budget concerns within their base budget, thereby offsetting the need for new funding.