Statement of Revenues, Expenses and Changes in Fund Net Position

MANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED) DECEMBER 31, 2021

Long-term debt At the end of December 31, 2021, the City had total debt outstanding of $96,490,000 . Of this amount, $65,955,000 represents bonds secured by specified revenue sources (i .e . sales tax revenue bonds) . The remaining $30,535,000 are Certificates of Participation .

City of Arvada Outstanding Debt as of December 31, 2021 (in thousands)

Governmental Governmental Activities Business-type Total Primary

Activities Direct Placement Activities Government

Revenue bonds 2016 Certificates of Participation 2015 Certificates of Participation 2021 Certificates of Participation

Total outstanding debt $ 65,955 9,185 -

$ 75,140 3,745 17,605

$ 21,350 $ 65,955 9,185 3,745 17,605

$ 96,490

Additional information on the City’s long-term obligations can be found in Note 3 .E on pages 63-65 of this report .

Financial Contact

The City’s financial statements are designed to provide users (citizens, taxpayers, customers, investors and creditors) with a general overview of the City’s finances and to demonstrate the City’s accountability . Questions concerning any of the information presented in this report or requests for additional information should be sent to the City’s Finance Director at the following address:

City of Arvada Director of Finance 8101 Ralston Road Arvada, CO 80002