RES_02-26_Floreo_at_Teravalis_CFD_-_FY_2027_Final_Budget__v2__5.17 with Exhibit.pdf

RESOLUTION NO. 02-26 (Floreo at Teravalis) 
RESOLUTION OF THE BOARD OF DIRECTORS OF THE FLOREO AT 
TERAVALIS COMMUNITY FACILITIES DISTRICT (CITY OF BUCKEYE, 
ARIZONA) APPROVING THE FINAL BUDGET OF THE DISTRICT FOR FISCAL 
YEAR 2027, BEGINNING JULY 1, 2026, AND ENDING JUNE 30, 2027. 
WHEREAS, on May 19, 2026, the Board of Directors (the “District Board”) of the Floreo 
at Teravalis Community Facilities District (City of Buckeye, Arizona) (the “District”) met and 
adopted the fiscal year 2027 proposed budget for the District; and  
WHEREAS, the District Board intends to adopt the fiscal year 2027 Final Budget for the 
District (the “District Budget”); and 
WHEREAS, in the District Budget, the District Board has filed with the District Clerk the 
annual statements of the costs and expenditures of the District, including the amount of taxes to 
be raised to pay expenses of the District; and 
WHEREAS, the District published, as required by law, a notice that the District Board 
would meet on June 2, 2026, for the purposes of conducting a hearing on (i) the District Budget 
attached hereto as Exhibit A and incorporated by reference herein, and (ii) the tax levy; and 
WHEREAS, in accordance with Title 48, Section 716, Arizona Revised Statutes, and 
following public notice, the District Board met and held a public hearing on June 2, 2026, at 
which meeting any taxpayer was permitted to appear and be heard in favor of or against any of 
the proposed expenditures or tax levies. 
BE IT RESOLVED by the Board of Directors of the Floreo at Teravalis Community 
Facilities District (City of Buckeye, Arizona) as follows: 
Section 1.  
Budget Adopted.  The District Budget in the amount of $1,170,800 is 
hereby adopted as the budget of the District for the fiscal year 2027. 
Section 2. 
Conflicting Resolutions Repealed.  All resolutions and parts of resolutions 
in conflict are hereby repealed. 
PASSED AND ADOPTED by the Board of Directors of the Floreo at Teravalis 
Community Facilities District (City of Buckeye, Arizona), this 2nd day of June, 2026. 
___________________________________ 
Eric W. Orsborn, District Chairman 
ATTEST: 
_______________________________ 
Lucinda J. Aja, District Clerk 
APPROVED AS TO FORM: 
_______________________________ 
Tosca Henry, District Attorney 
Attachment 
Exhibit A: Fiscal Year 2027 Final Budget

EXHIBIT A 
Fiscal Year 2027 Final Budget 
(consisting of 1 page)

EXHIBIT A - BUDGET
Floreo at Teravalis Community Facilities District
Buckeye, Arizona
FY 2027
Actual
Budget
FY 2025
Adopted
Projected
FY 2027
Revenues:
Property Taxes
$840
$1,000
$1,100
$1,500
Special assessments - debt service
- 
975,600
 
933,000
          
932,800
          
Special assessments - prepayments
- 
200,000
 
- 
200,000
 
Charges for services
25,000
             
5,000
               
40,300
             
25,300
             
Developer Contribution
- 
404,400
 
407,000
          
- 
Total revenues
25,840
 
1,586,000
       
1,381,400
       
1,159,600
       
Expenditures:
Administrative Fees
5,000
               
5,000
               
5,000
               
5,000
               
Operations and Maintenance
32,295
             
1,000
               
17,100
             
17,500
             
Debt services:
Principal retirement
- 
530,000
 
397,000
          
542,000
          
Interest and other fiscal charges
- 
645,600
 
536,000
          
590,800
          
Bond issuance costs
10,000
             
404,400
 
393,800
          
- 
Captial Outlay
- 
9,993,600
 
10,037,000
     
- 
Contingency
- 
-
- 
15,500
             
Total expenditures
47,295
 
11,579,600
     
11,385,900
     
1,170,800
       
Excess (deficiency) of revenues over
(under) expenditures
(21,455)
           
(9,993,600)
 
(10,004,500)
   
(11,200)
           
Other financing sources (uses):
Bonds issued
- 
10,970,000
 
10,970,000
     
- 
Refunding bonds issued
- 
-
- 
- 
Premiums issued
- 
-
- 
- 
Transfer from other funds
- 
-
25,230
             
25,200
             
Transfers to other funds
- 
-
(25,230)
           
(25,200)
           
Total other financing sources (uses)
- 
10,970,000
 
10,970,000
     
- 
Net Change in fund balances
(21,455)
           
976,400
          
965,500
          
(11,200)
           
Fund balances - beginning
232
 
- 
(21,200)
 
944,400
          
Fund balances - ending
($21,223)
$976,400
$944,300
$933,200
Total Full Cash Value Net Assessed
651,667
          
684,090
          
684,092
          
1,710,389
       
Total Limited Property Valuation Net Assessed
284,782
          
349,508
          
348,897
          
340,424
          
Tax Rate - Debt Service 
-
$                 
-
$
 
-
$
 
-
$
 
Tax Rate - O&M
0.3000
$          
0.3000
$          
0.3000
$          
0.3000
$          
FY 2026 Budget