RES_02-26_Westpark_CFD_-FY2027_Final_Budget__v2__5.17 w Exhibit.pdf

8046665.2 
RESOLUTION NO. 02-26 (Westpark) 
 
RESOLUTION OF THE BOARD OF DIRECTORS OF THE WESTPARK 
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 
Westpark 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 Westpark Community Facilities 
District (City of Buckeye, Arizona) as follows: 
 
Section 1.   
Budget Adopted.  The District Budget in the amount of $7,277,000 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Conflicting Resolutions Repealed.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in conflict are hereby repealed.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 Westpark 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

8046665.2 
 
EXHIBIT A 
Fiscal Year 2027 Final Budget 
(consisting of 1 page)

EXHIBIT A - BUDGET
Buckeye, Arizona
FY 2027
Actual
Budget
FY 2025
Adopted
Projected
FY 2027
Revenues:
Property Taxes
574,387
          
$715,200
715,200
          
864,400
          
Special assessments - debt service
127,533
          
229,700
          
229,700
          
229,200
          
Special assessments - prepayments
-
                   
113,000
          
13,000
             
113,000
          
Charges for services
35,177
             
10,100
             
25,500
             
10,000
             
Developer Contribution
-
                   
396,500
          
411,500
          
188,200
          
Investment Income
14,183
             
-
                        
6,700
               
-
                   
Total revenues
751,280
          
1,464,500
       
1,401,600
       
1,404,800
       
Expenditures:
Administrative Fees
6,310
               
7,500
               
7,500
               
8,500
               
Operations and Maintenance
29,267
             
37,700
             
46,000
             
46,500
             
Debt services:
Principal retirement
439,000
          
745,100
          
649,000
          
889,800
          
Interest and other fiscal charges
192,843
          
366,400
          
362,500
          
504,900
          
Bond issuance costs
-
                   
451,600
          
456,300
          
227,700
          
Captial Outlay
-
                   
6,637,300
       
6,658,700
       
5,332,500
       
Contingency
-
                   
371,500
          
-
                   
267,100
          
Total expenditures
667,420
          
8,617,100
       
8,180,000
       
7,277,000
       
Excess (deficiency) of revenues over
(under) expenditures
83,860
            
(7,152,600)
     
(6,778,400)
     
(5,872,200)
     
Other financing sources (uses):
Bonds issued
-
                   
6,961,000
       
6,961,000
       
4,845,000
       
Premiums issued
-
                   
-
                   
-
                   
527,000
          
Total other financing sources (uses)
-
                   
6,961,000
       
6,961,000
       
5,372,000
       
Net Change in fund balances
83,860
             
(191,600)
         
182,600
          
(500,200)
         
Fund balances - beginning
368,453
          
407,700
          
452,300
          
634,900
          
Fund balances - ending
452,313
          
$216,100
$634,900
$134,700
Total Full Cash Value Net Assessed
48,389,377
     
43,705,344
     
43,648,533
     
50,465,731
     
Total Limited Property Valuation Net Assessed
18,374,004
     
19,608,805
     
19,649,095
     
23,856,796
     
Tax Rate - Debt Service
2.8325
$          
3.3467
$          
3.3401
$          
3.3230
$          
Tax Rate - O&M
0.3000
$          
0.3000
$          
0.3000
$          
0.3000
$          
FY 2026 Budget
Westpark Community Facilities District