Outstanding Indebtedness

The Debt form is used to compile the statewide Report of Outstanding Indebtedness, as required by A.R.S. § 35-501. The information submitted should reflect all debt – bonds, lease purchases, third-party financing - for terms greater than one year as of June 30, 2024.

A.R.S. §§ 18-301 and 18-304 states State government and all local governments shall report all incurred debt, including the date of issue, purpose, original amount, current balance, interest paid to date, and principal and interest paid in the latest full fiscal year. This includes amounts retired or paid in full during the fiscal year. The amounts retired or refunded should represent the total through the life of the bond and not just the amounts retired or refunded during the fiscal year. State government consists of any department, commission, board, institution or other agency of the State receiving, expending or disbursing state funds or incurring obligations against the State. Local governments consist of a county, city or town with a population of more than 2,500 persons; any community college district and school district with a student count of more than 600 pupils; and a state university.

A.R.S. § 35-505 exempts industrial development corporations formed pursuant to Chapters 5 and 6 of Title 35 from this annual reporting requirement for the Report of Outstanding Indebtedness.

"Any county, city, town, school district, irrigation district or other political subdivision of the state that fails to comply fully with the provisions of this article shall not issue any additional bonds or other securities" per A.R.S. § 35-501. Furthermore, any person or member of any governing body knowingly omitting or refusing to comply with this request is guilty of a class 2 misdemeanor per A.R.S. § 35-502.

NO DEBT
If your Entity has No debt, send one email per entity to [email protected] confirming there is No debt to report.
Subject line: Outstanding Indebtedness Reporting for FY2024 - (Insert your Entity Name)
Email body: Entity has no debt - including contact person's name, email and phone information, Entity Name, Entity Type,  Student Count ADM/ Population.

EXEMPT
Counties, cities or towns with a population of less than 2,500 persons and/or school districts with a student count of less than 600 pupils are exempt from reporting. Send one email per entity to [email protected] confirming why your district is exempt.
Subject line: Outstanding Indebtedness Reporting for FY2024 - (Insert your Entity Name)
Email body: Entity is exempt from reporting, “why your district is exempt”  - including contact person's name, email and phone information, Entity Name, Entity Type,  Student Count ADM/ Population.

DEBT UPDATES

Use the Debt Update form to submit New Debt or to report Interest Paid and Retired Debt (Please note, this form replaces the Form-1013).

• Please submit only one response for each debt issuance, interest payment, or final payment.
• This form is required pursuant to Arizona Revised Statutes §§ 35-501 & 35-502.
  • A separate form must be completed for each issue, and for each type of bond or security.
  • This form must be completed for all debt or other security with a term of greater than one year at the time of issue.
• Submit this form and send attachments to [email protected]
  • Immediately on the retirement of any bond or payment of interest.
  • Within sixty days after the issuance of any new debt.
• When submitting new debt, please provide a copy of the Final Official Statement. Such a statement should be prepared for all types of issues. Provide a detailed listing of Issuance Costs directly or indirectly required to be paid in association with the issuance of the bonds or securities and email it to [email protected] when you submit your form. Issuance Costs include, but are not limited to:
  • Bond Counsel Fees
  • Financial Advisor Fees
  • Verification Agent Fees
  • Investment Securities Brokerage Fees
  • Registrar Fees
  • Trustee Fees
  • Credit Enhancement Fees
  • Rating Agency Fees
  • Printing Fees
  • Registration Fees
  • Transfer and Recording Fees
  • Any other cost directly or indirectly earned or paid as a result of the bonds or securities
• The person who submits the form will receive a copy of the entities’ response immediately after the form is submitted. We recommend you maintain a copy for your records.
• If you have questions at any time, contact the Department of Administration General Account Office at [email protected].

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FY2024 Outstanding Indebtedness Reporting deadline:  September 15, 2024

Forms	information
Debt Form and Instructions for FY2024 Reporting	Debt Form Additional Information for FY2024 Reporting
Debt Update Form and Instructions

Please contact [email protected] for any questions involving the FY 2017 and later reports.