Performance Audit and Financial Analysis of the Rio Nuevo Multipurpose Facilities District, 2025

Johnson Consulting conducted the audit under contract with our Office and in response to the requirements of Arizona Revised Statutes §48-4231.01. The audit consultant found the District has made substantial progress since its reorganization, achieving compliance with statutory mandates, prudent financial management, and use of public funds to stimulate downtown redevelopment. In addition, the report identifies opportunities for further strengthening the District’s long-term planning and governance practices. Key recommendations include updating and formalizing a comprehensive master plan; establishing a formalized capital planning process; and developing multi-year budget framework projections. Additionally, as the District’s scope and portfolio expand, consideration should continue to be given to increasing finance staff capacity to keep pace with growth and replace employee turnover.