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A Win for City, Phoenix Strong Credit Ratings Affirmed, Stable Outlookhttps://www.phoenix.gov/newsroom/finance/2323Finance4/26/2022 7:00:00 AMhttps://www.phoenix.gov/newssite/Lists/NewsArticle/Attachments/2323/City-Hall-for-Newsroom.jpgA Win for City, Phoenix Strong Credit Ratings Affirmed, Stable Outlook<div class="ExternalClass5F607FF94315468EBB29FC9DD59BCFA6"><html>​The City of Phoenix's credit rating for General Obligation (GO) and Excise Tax bonds remain investment grade.  The ratings were affirmed by Fitch Ratings (AAA), S&P Global Ratings (AA+) and Moody's Investor Service (Aa1). All three ratings have a stable outlook. <br><br>The City's strong credit ratings reduce the overall cost to the City when borrowing money for critical public projects.<br><br>In particular, Moody's Investors Service revised the GO bond outlook to stable from negative citing the City's “meaningful increases in pension contributions that will likely decrease liabilities over the long-term." <br><br>“While the regional economy was affected by the coronavirus outbreak, Phoenix's economic and tax base growth outperformed other parts of the U.S. Finances remain in a healthy position, supported by prudent budget management and revenue growth driven by the City's strong economy," reported Moody's Investors Service. <br><br>“Phoenix serves as the economic hub for the broader metropolitan statistical area (MSA), which has experienced strong and sustainable growth in recent years," said S&P Global in its ratings report. “While we acknowledge that the city demonstrated vulnerability during the early 2000s, as evidenced by significant property value swings during boom-and-bust cycles, we believe that the ongoing diversification and controlled growth has sustainably stabilized the tax base."<br><br>“These ratings are a testament to the elected officials and City Management who work diligently to make hard decisions that will ensure a strong financial position for the City," said Kathleen Gitkin, City of Phoenix Chief Financial Officer.<br><br>Phoenix is the fifth largest city in the country by population, with nearly a quarter of the entire state's population calling the Valley home. S&P Global Ratings and Fitch Ratings said Phoenix is financially prepared to sustain stability through any future economic uncertainty. <br><br>“We believe that the city's well-diversified tax base and steady growth has positioned the city well to endure recent economic cycles, as evidenced by its stability throughout the pandemic, as compared to its significant volatility during the Great Recession," wrote S&P Global. <br><br><p>Fitch Ratings “anticipates the city will manage through economic cycles with no material loss of overall financial resiliency."  The rating “reflects solid economic and revenue growth prospects, and substantial operating reserves supporting an overall strong financial profile."<br></p></html></div>https://www.phoenix.gov/financeNewsfinanceFinance
Phoenix Works to Help Local Landscapershttps://www.phoenix.gov/newsroom/finance/2261Finance3/8/2022 3:20:00 AMhttps://www.phoenix.gov/newssite/Lists/NewsArticle/Attachments/2261/landscaper.bmpPhoenix Works to Help Local Landscapers<div class="ExternalClass2735F577FBC045318BA39137A7775AEB"><html> <p><span style="font-size:14.6667px;">​<span style="color:windowtext;background-color:window;">Earlier this year, the City </span><span style="background-color:window;color:windowtext;"> </span><span style="color:windowtext;background-color:window;">of Phoenix Finance Department announced a breakthrough program to help local landscape businesses land a contract with the city.</span></span></p> <p><span style="font-size:14.6667px;">After a successful introductory webinar in January with more than 100 attendees, the Finance Department is announcing upcoming virtual educational classes to help local landscape companies navigate the city's public contract process, in hopes to spread the wealth to smaller, underrepresented businesses.</span></p> <p><span style="font-size:14.6667px;">The City of Phoenix will be offering the following virtual classes to assist local business owners:</span></p> <p style="text-align:justify;"> <strong>VENDOR SELF-REGISTRATION</strong> <strong>: </strong>Vendors must be registered in the City's eProcurement Self-Registration System at <a target="_blank" href="/financesite/Pages/EProc-help.aspx">https://www.phoenix.gov/financesite/Pages/EProc-help.aspx</a> in order to receive solicitation notices, respond to solicitations and access procurement information. The City may, at its sole discretion, reject any offer from an Offeror who has not registered in the City's eProcurement system.<span style="background-color:window;color:windowtext;text-align:left;font-size:10pt;"> </span></p> <p> <strong style="font-size:17.3333px;">Week 1 - Training</strong>: Wednesday, March 9, 2022, at 10:00 a.m.<br><strong style="background-color:window;color:windowtext;font-size:10pt;">Topics:</strong><span style="background-color:window;color:windowtext;font-size:10pt;"> Vendor registration, commodity codes, finding and responding to a solicitation</span></p><strong style="background-color:window;color:windowtext;font-size:10pt;"><span style="font-size:17.3333px;">Week 2 - Pre-Offer Conference:</span></strong><span style="background-color:window;color:windowtext;font-size:10pt;"> Wednesday, March 16, 2022, at 10:00 a.m.</span> <p> <strong>Topics:</strong> Review the solicitation by section and answer vendor questions</p> <p> <strong style="font-size:17.3333px;">Week 3 Training</strong><span style="font-size:17.3333px;">:</span> Wednesday, March 23, 2022, at 10:00 a.m.<br><strong style="background-color:window;color:windowtext;font-size:10pt;">Topics:</strong><span style="background-color:window;color:windowtext;font-size:10pt;"> Developing a proposal, pitfalls, terms, and conditions</span></p> <p> <strong style="font-size:17.3333px;">Written Inquiries Due:</strong> Friday, March 25, 2022 </p> <p>All written questions sent via email to the procurement officer by 2:00 p.m.<span style="background-color:window;color:windowtext;font-size:10pt;"> </span></p> <p> <strong style="font-size:17.3333px;">Week 4 - Training:</strong><span style="font-size:17.3333px;"> </span>Wednesday, March 30, 2022, at 10:00 a.m.</p> <p> <strong>Topics:</strong> Post Contract Award: What's next: performance contract monitoring, invoicing and payments​<br></p> <p> <strong style="font-size:17.3333px;">Bids Due/Opening:</strong> Friday, April 8, 2022 at 2:00 p.m.</p> <p>Submit to: <a target="_blank" href="mailto:procurement@phoenix.gov">procurement@phoenix.gov</a> </p> <p>or </p> <p>Finance Department<br><span style="background-color:window;color:windowtext;font-size:10pt;">251 W Washington St., 8</span><sup style="background-color:window;color:windowtext;">th</sup><span style="background-color:window;color:windowtext;font-size:10pt;"> Floor<br></span><span style="background-color:window;color:windowtext;font-size:10pt;">Phoenix, AZ 85013</span></p> <p style="text-align:justify;"> <strong>Important Notes:</strong> </p> <p style="text-align:justify;">Offerors should not take exception to the solicitation requirements by marking up the solicitation or submittal/response in any way. All concerns or requests for modification should be e-mailed to the procurement officer <strong>prior to</strong> the due date. Offers submitted with added notes, strikethroughs, exceptions, or contingencies may be deemed non-responsive and eliminated from consideration for award.</p> <p>Spanish interpretation services will be available for these trainings.</p> <p>“This educational series is a great opportunity for local businesses in Phoenix." said T.J. Martin, Assistant Finance Director. ““The City of Phoenix Finance Department hopes to award multiple contracts with landscape businesses across Phoenix to help build the local economy by developing local businesses with real chances for consistent earning potential."</p> <p>The City of Phoenix had a budgeted $24.6 million contract for landscaping between 2017 and 2022, almost $5 million annually! That contract expires on May 31, 2022, and Phoenix is looking for new, small business landscapers to contract with and share a piece of the pie!</p> <p> <span style="background-color:window;color:windowtext;font-size:10pt;">If you have any questions, contact the Finance Department at 602-262-7166.</span> <br> </p> </html></div>https://www.phoenix.gov/financeNewsfinanceFinance
Phoenix Works Toward Guaranteed Money for Local Landscapershttps://www.phoenix.gov/newsroom/finance/2200Finance1/10/2022 3:50:00 PMhttps://www.phoenix.gov/newssite/Lists/NewsArticle/Attachments/2200/Landscaper-NEWSROOM-HEADER-IMAGE-.jpgPhoenix Works Toward Guaranteed Money for Local Landscapers<div class="ExternalClass359FC5D885284CC89E53F128D31BFE0C"><html> <p></p> <p> The city of Phoenix had a budgeted $24.6 million contract for landscaping between 2017 and 2022, almost $5 million annually! That contract expires on May 31, 2022, and Phoenix is looking for new, small business landscapers to contract with and share a piece of the pie! <br> </p> <p>Currently there are 400 locations across the city that require landscaping. Phoenix is looking for multiple landscaping companies to contract with to fill the city's landscaping needs. </p> <p>Participating in this program and securing a contract means guaranteed money for years with the city.  </p> <p>“The city of Phoenix Finance Department hopes to lock down multiple contracts with many landscape businesses across Phoenix to bring in guaranteed money for local businesses," said T.J. Martin, Assistant Finance Director. “The goal is to offer help to the local small businesses who may previously have been lost in the procurement process."</p> <p> <strong>LEARN AND MAKE MONEY</strong> </p> <p>Phoenix is partnering with Local First Arizona to host a virtual educational webinar on Jan. 27, 2022, from 4 p.m. to 6 p.m., to help local landscape companies navigate the city's public contract process. At this e-forum, city and industry leaders will provide information on topics that can help improve your chances of receiving a bid.<br></p> <p>Based on the interest, Phoenix will be hosting a series of clinics throughout spring of 2022 that will help local businesses fill out paperwork and learn more about the contract procurement process. </p> <p>We also want to hear from YOU on how we can help you be more successful and win a contract with the City of Phoenix. </p> <p> <strong>WHAT'S NEXT?</strong> </p> <p>Local landscaping businesses interested in January 27th WebEx meeting the should <a title="Register Online" href="https://cityofphoenix.webex.com/cityofphoenix/j.php?RGID=r98cbeb6be7332142eeaa585f0cc1f43c" target="_blank">register online.</a> If you have any questions contact the Finance Department at 602-262-7166 or visit <a href="/finance" target="_blank">phoenix.gov/finance</a>. </p> <p> <strong>IMPORTANT DEADLINES</strong> </p> <p> January 27, 2022: Join the city of Phoenix from 4 p.m. to 6 p.m. for an e-forum with industry experts. <a title="Register Online" href="https://cityofphoenix.webex.com/cityofphoenix/j.php?RGID=r98cbeb6be7332142eeaa585f0cc1f43c" target="_blank">Register online</a>.<br></p> <p>May 31, 2022: Current landscaping contracts expire.</p> <p> June 1, 2022: Future landscaping contracts begin. <br></p> <p>​<br></p> </html></div>https://www.phoenix.gov/financeNewsfinanceFinance
Reducing Barriers for Local and Underserved Businesseshttps://www.phoenix.gov/newsroom/finance/2181Finance12/20/2021 7:00:00 AMhttps://www.phoenix.gov/newssite/Lists/NewsArticle/Attachments/2181/Finance Construction Pic.pngReducing Barriers for Local and Underserved Businesses<div class="ExternalClassED58C4C3E2094CA285E21AD430466D34"><html> ​​The City of Phoenix was selected to participate in a national program to identify ways to break barriers and make public contracting more accessible for local, small and historically underutilized businesses. Phoenix joins nearly 60 other U.S. cities to receive technical and financial support to implement this program.<br><br> The city's commitment to the program was made at the National League of Cities (NLC) City Summit as part of the City Innovation Ecosystems (CIE) program, which will provide Phoenix with resources and support to help underserved entrepreneurs achieve greater economic mobility.<br><br><br>“The Innovation Ecosystems Program advances Phoenix's commitment to locally owned small and underrepresented businesses," said Phoenix Mayor Kate Gallego. “Businesses operated by people in underserved communities are still too often stifled in the convoluted process of contract procurement. An investment in these small business owners is a big step in moving past COVID and restoring our economic growth."<br> <br>The CIE program, an initiative of the NLC, helps cities adopt policies, programs and practices to give underrepresented entrepreneurs more opportunities for economic advancement. Participants select an area of focus for their programs to support economic growth in their communities. Now in its third year, this network has grown to include more than 175 cities, 200 local partners, and $100 million in committed resources.<br><br> Phoenix has selected an area of focus around inclusive public procurement and has pledged to take action to reduce barriers to obtaining city contracts for businesses owned by underrepresented people. In cities across the country, disparities exist in the number of contracts and dollars going to small and minority-led firms relative to their overall availability in the community. Furthermore, many of these firms struggle to navigate complex and cumbersome government processes or may not even be aware of what opportunities exist to do business with the government. As businesses recover from COVID-19, winning a contracting opportunity with local government can be a much needed boost to revenue for small firms and can be the ingredient that helps them expand their business. <br><br> Phoenix joins 59 other cities from across the country that have made a total of 78 commitments. As part of its participation in the CIE program, Phoenix will receive direct technical assistance, information sharing with other cities, and financial support to help implement its program. <br><br> Technical assistance will be provided by the Harvard Kennedy School Government Performance Lab (GPL) and includes supporting cities with: (1) surveying diverse vendors to understand the barriers they face when bidding on contracting opportunities; (2) right-sizing contracts into smaller opportunities that may be more accessible for small firms; and (3) piloting new methods of market research and targeted outreach to notify more small, local, and diverse businesses of contracting opportunities.<br><br><br>“Leaders of America's cities, towns and villages recognize that racial and gender equity are key ingredients to economic growth in communities," said Clarence E. Anthony, CEO and Executive Director of NLC. “We look forward to working with new members of the City Innovation Ecosystems program to bring their commitments to fruition and create economies in which everyone wins." <br><br> The CIE program is made possible in partnership with and support from <a target="_blank" href="https://www.kauffman.org/">Ewing Marion Kauffman Foundation</a>. For more information about the program, click <a target="_blank" href="https://www.nlc.org/initiative/city-innovation-ecosystems/">here</a>.<br><br> About the Harvard Kennedy School Government Performance Lab <br>The <a target="_blank" href="https://govlab.hks.harvard.edu/">Harvard Kennedy School Government Performance Lab</a> (GPL), based in the School's Taubman Center for State and Local Government, supports state and local governments across the country in designing and implementing solutions to pressing social problems. The GPL has conducted more than 200 projects in 35 states, helping innovative state and local government leaders improve the results they achieve for their residents. An important part of the GPL's research model involves capturing the insights, tools and practices that are gained through these hands-on projects and sharing them with government leaders across the country.​<br><br> </html></div>https://www.phoenix.gov/financeNewsfinanceFinance
Phoenix City Manager Ed Zuercher Names Kathleen Gitkin Acting Chief Financial Officerhttps://www.phoenix.gov/newsroom/finance/1981Finance7/7/2021 5:00:00 PMPhoenix City Manager Ed Zuercher Names Kathleen Gitkin Acting Chief Financial Officer<div class="ExternalClass6BCAA4F4269B461EAABB7BDBD758A15D"><html> <div style="text-align:center;">​<img style="margin:5px;width:184px;height:276px;" alt="" src="/piosite/MediaAssets/KathleenGitkin.jpg" /></div>Phoenix City Manager Ed Zuercher has named Kathleen Gitkin as the city's acting chief financial officer.  In this role, Gitkin will be responsible for all aspects of the city's fiscal portfolio, including debt management, capital financing, treasury services, procurement, tax and licensing, and the acquisition and management of the city's real estate holdings, as well ensuring the city retains its excellent bond rating. Gitkin replaces CFO Denise Olson who is retiring on July 16.<br><br>“During her seventeen years advancing through the ranks of the city's Finance Department, Kathleen has acquired a keen understanding of the city's complex financial systems, including debt management, investments, real estate, and the all-important financial forecasting," said Zuercher. “She is the ideal leader to ensure that the city's finances remain in top form."  <br><br>Gitkin began her city career in 2004 as an entry-level accountant and advanced to the assistant finance director position before being named acting CFO. During her city career, she has managed a wide range of accounting and financial functions and is widely known by the city's banking and financial partners and bond-rating agencies for her exceptional work on the city's behalf. Prior to joining the city, Gitkin worked as an accountant in the private sector and served as New Mexico director for the American Heart Association and volunteer manager for the Special Olympics.  <br><br>“I look forward to taking on this new challenge," said Gitkin. “I am committed to ensuring the success of the Department and its staff in continuing the city's legacy of excellence in fiscal management." <br><br>Gitkin holds a Bachelor of Accountancy from New Mexico State University and a Master of Business Administration from University of Phoenix.  She has served on the City of Phoenix Employee Retirement System board, the Phoenix Community Development and Investment Corporation board, and the Deferred Compensation Board, and is a member of the Government Finance Officers Association.  <br><br></html></div>https://www.phoenix.gov/financeNewsfinanceFinance
Truth in Taxation Explainedhttps://www.phoenix.gov/newsroom/finance/1928Finance6/1/2021 6:00:00 PMTruth in Taxation Explained<div class="ExternalClass009EBABCEF8D4D65819739815506057C"><html> <p></p>The city of Phoenix publishes the Truth in Taxation notice below as required by state law. The required notice addresses the city's primary property tax, which supports the General Fund services such as police and fire, parks and recreation, libraries and senior and community centers.<br><br>The city of Phoenix's proposed primary property tax rate for 2021-22 of $1.3055 per $100 of assessed valuation is unchanged from its 2020-21 rate. However, overall increases in assessed valuation result in a 4% increase in primary property taxes for the average city of Phoenix property owner. Individual experiences may differ based on unique property variances.<br><br>State law requires the notice below any time the average primary property tax bill increases, even if the primary property tax rate is reduced.<br><br>The Truth in Taxation notice prescribed by state law does not address the city's secondary property tax. The city's secondary property tax rate for 2021-22 will be reduced by one cent from $0.8241 to $0.8141 per $100 of assessed valuation. Secondary property taxes pay the bonded debt service for facilities like libraries, police and fire stations, storm drains and parks.<br><br>For more information, call 602-262-4800, or visit phoenix.gov/budget.<br><br> <br><strong>TRUTH IN TAXATION HEARING NOTICE OF TAX INCREASE</strong><br><br>In compliance with section 42-17107, Arizona Revised Statutes, the city of Phoenix is notifying its property taxpayers of the city of Phoenix's intention to raise its primary property taxes over last year's level.  The city of Phoenix is proposing an increase in primary property taxes of $7,444,842 or 4.0 percent.<br><br>For example, the proposed tax increase will cause the city of Phoenix's primary property taxes on a $100,000 home to be $130.55 (total proposed taxes including the tax increase). Without the proposed tax increase, the total taxes that would be owed on a $100,000 home would have been $125.52.<br><br>The proposed increase is exclusive of increased primary property taxes received from new construction.  The increase is also exclusive of any changes that may occur from property tax levies for voter approved bonded indebtedness or budget and tax overrides.<br><br>All interested citizens are invited to attend the public hearing on the tax increase that is scheduled to be held June 16, 2021 at 2:30 p.m. at the city of Phoenix Council Chambers, 200 W. Jefferson St.<br><br><p style="text-align:justify;">Published 6/1/21 & 6/8/21​<br></p></html></div>https://www.phoenix.gov/financeNewsfinanceFinance
City of Phoenix Chief Financial Officer Denise Olson Named a “Trailblazing Women in Public Finance”https://www.phoenix.gov/newsroom/finance/1669Finance12/18/2020 11:00:00 PMCity of Phoenix Chief Financial Officer Denise Olson Named a “Trailblazing Women in Public Finance”<div class="ExternalClass68276ADD394746A485B46B057E39CE0A"><html> <p style="text-align:center;">​​<img style="margin:5px;width:210px;height:210px;" src="/piosite/MediaAssets/DeniseOlson.jpg" /><br></p>City of Phoenix Chief Financial Officer Denise Olson was honored by Northeast Women in Public Finance as one of 10 “Trailblazing Women in Public Finance" at the Bond Buyer's Deal of the Year Awards on December 16, 2020.<br><br>The Deal of the Year Awards recognize the nation's most outstanding municipal finance transactions each year, as well as the people behind the transactions.  The awards focus on innovation as well as trailblazing women in finance, both public and private.   <br><br>The honor recognizes Denise for developing solutions to improve the city's retirement systems; as a leader in procuring millions of dollars of PPE for the fifth largest city in the nation during the COVID-19 crisis; and as an innovator who led a successful $400 million bond offering in March 2020, with $290 million focusing on sustainability – a first of its kind for the city of Phoenix. It was one of the only successful municipal bond sales taking place during the pandemic.    <br><br>“Denise embodies a unique combination of financial acumen and creativity that continues to deliver financial successes for the city and our residents," said Phoenix City Manager Ed Zuercher.  “Her leadership is critical to retaining our AAA-bond rating, which provides the financial flexibility a major city needs to innovate and build for the future, especially during these uncertain times." <br><br>Denise began her city of Phoenix career as an economist in 1994, promoting through the ranks before becoming the first woman appointed Chief Financial Officer in 2015.  Denise leads a department of 200 employees, managing $2.3 billion in cash, tax collection, risk and debt management, among other functions.  Denise holds a bachelor's degree in Business Administration, with majors in human resource management and economics, from New Mexico State University, and a Master of Public Administration from Arizona State University.<br><br>Northeast Women in Public Finance is a not-for-profit professional organization for women who work in private or public sector firms or organizations that are engaged in public finance. <br><br>The Bond Buyer is the only independent information resource serving the entire municipal finance community. <br><br>The city of Phoenix is the fifth largest city in the nation, and the fastest growing city in the nation, with more than 14,000 city employees and a $3.4 billion annual budget.​​<br> <br></html></div>https://www.phoenix.gov/financeNewsfinanceFinance

 

 

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