RES_02-26_Watson_Road_CFD_-_FY_2027_Final_Budget__v2__5.17 W Exhibit.pdf
City of Buckeye — Joint Community Facilities Districts (2026-06-02)
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8054623
RESOLUTION NO. 02-26 (Watson Road)
RESOLUTION OF THE BOARD OF DIRECTORS OF THE WATSON ROAD
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 Watson
Road 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 Watson Road Community Facilities
District (City of Buckeye, Arizona) as follows:
Section 1.
Budget Adopted. The District Budget in the amount of $1,433,400.00 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Conflicting Resolutions Repealed.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in conflict are hereby repealed.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 Watson Road 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
8054623.2
EXHIBIT A
Fiscal Year 2027 Final Budget
(consisting of 1 page)
EXHIBIT A - BUDGET
Watson Road Community Facilities District
Buckeye, Arizona
FY 2027
Actual
Budget
FY 2025
Adopted
Projected
FY 2027
Revenues:
Property Taxes
$231,893
$308,500
$268,000
$314,400
Special assessments - debt service
2,329,825
1,950,100
1,917,100
-
Special assessments - prepayments
-
180,000
1,468,900
-
Charges for services
98,860
70,000
62,000
70,000
Investment Income
89,946
-
93,000
-
Total revenues
2,750,524
2,508,600
3,809,000
384,400
Expenditures:
Administrative Fees
17,427
21,100
22,000
25,000
Operations and Maintenance
313,414
518,000
229,200
991,200
Debt services:
Principal retirement
1,892,276
1,850,800
8,938,500
-
Interest and other fiscal charges
333,364
279,300
275,400
-
Contingency
-
4,568,200
-
417,200
Total expenditures
2,556,481
7,237,400
9,465,100
1,433,400
Excess (deficiency) of revenues over
(under) expenditures
194,043
(4,728,800)
(5,656,100)
(1,049,000)
Net Change in fund balances
194,043
(4,728,800)
(5,656,100)
(1,049,000)
Fund balances - beginning
6,511,059
6,876,300
6,705,100
1,049,000
Fund balances - ending
$6,705,102
$2,147,500
$1,049,000
$0
Total Full Cash Value Net Assessed
167,673,465
172,130,129
171,477,543
195,703,173
Total Limited Property Valuation Net Assessed
77,381,706
90,077,879
89,438,450
104,787,537
Tax Rate - Debt Service
-
$
-
$
-
$
-
$
Tax Rate - O&M
0.3000
$
0.3000
$
0.3000
$
0.3000
$
FY 2026 Budget