The GAO has issued the State of Arizona Comprehensive Annual Financial Report for the fiscal year ended June 30, 2020. Visit the GAO web address https://gao.az.gov/financials/cafr to view a copy of this report in PDF format.
The following financial highlights are on the primary government totals at the government-wide basis for the fiscal year ended June 30, 2020:
- The State reported revenues of $48.2 billion and expenses of $47.3 billion.
- The State derived approximately 50% of its total revenues from grants and contributions. The balance of the State’s revenue comes primarily from taxes (36%), and charges for services rendered (12%).
- Health and welfare programs comprised the largest percentage of total expenses for the State (38%), followed by education, including the universities (29%), and unemployment compensation (12%).
- The State's net position increased $913.0 million during the fiscal year ended June 30, 2020.