RES_01-26_Tartesso_West_FY_2027_Tentative_Budget with Exhibit.pdf

RESOLUTION NO. 01-26 (Tartesso West) 
 
RESOLUTION OF THE BOARD OF DIRECTORS OF THE TARTESSO WEST 
COMMUNITY FACILITIES DISTRICT (CITY OF BUCKEYE, ARIZONA), 
APPROVING THE TENTATIVE BUDGET OF THE DISTRICT FOR FISCAL 
YEAR 2027, BEGINNING JULY 1, 2026, AND ENDING JUNE 30, 2027, AND 
SETTING HEARING DATES FOR THE FINAL BUDGET AND TAX LEVY. 
 
BE IT RESOLVED by the Board of Directors of the Tartesso West Community Facilities 
District (City of Buckeye, Arizona), as follows: 
Section 1. The statements and schedules contained in the budget attached hereto as 
Exhibit A and incorporated by reference herein are hereby approved for the purpose as 
hereinafter set forth as the tentative budget for the Tartesso West Community Facilities 
District (City of Buckeye, Arizona) (the “District”) for fiscal year 2027.  The statements and 
estimates of the operation and maintenance expenses of the District, the costs of capital 
improvements and other expenditures for public infrastructure, and the amount needed to pay 
general obligation bonds of the District, if any (collectively, the “District Expenditures”), which 
are to be paid from ad valorem taxes collected in the District, are hereby filed with the District 
Clerk. 
 
Section 2. The District Clerk is authorized and directed to cause to be mailed to the City 
Council of the City of Buckeye, Arizona (the “City Council”) and published in the manner 
prescribed by law, a notice that the District Board will meet for the purpose of conducting a final 
hearing for District taxpayers on the statements and estimates of District Expenditures filed with 
the District Clerk and on the adoption of the fiscal year 2027 Annual Budget for the District; said 
hearing to be conducted on June 2, 2026, at 5:15 p.m. in the Executive Conference Room at 
City Hall, 530 E. Monroe Avenue, Buckeye, Arizona 85326, with final approval of the District’s 
tax levy on June 16, 2026, same time and place. 
 
Section 3. This Resolution shall be effective immediately. 
 
 
PASSED AND ADOPTED by the Board of Directors of the Tartesso West Community 
Facilities District (City of Buckeye, Arizona), this 19th day of May, 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 Budget

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

EXHIBIT A - BUDGET
Tartesso West Community Facilities District
Buckeye, Arizona
FY 2027
Actual
Budget
FY 2025
Adopted
Projected
FY 2027
Revenues:
Property Taxes
$1,795,469
$1,814,700
$1,812,800
$1,966,200
Developer Contribution
225,960
             
-
                          
-
                          
200,000
          
Total revenues
2,021,429
         
1,814,700
         
$1,812,800
2,166,200
       
Expenditures:
Administrative Fees
40,434
               
47,900
               
47,900
               
47,900
             
Operations and Maintenance
3,027
                 
200,200
             
104,900
             
201,400
          
Debt services:
-
                      
-
                   
Principal retirement
760,000
             
705,000
             
705,000
             
770,000
          
Interest and other fiscal charges
882,623
             
937,400
             
937,400
             
1,016,700
       
Bond issuance costs
237,273
             
-
                      
-
                      
200,000
          
Developer Reimbursement
6,631,143
          
-
                      
-
                      
3,100,000
       
Contingency
-
                      
361,500
             
-
                      
470,200
          
Total expenditures
8,554,500
         
2,252,000
         
1,795,200
         
5,806,200
       
Excess (deficiency) of revenues over
(under) expenditures
(6,533,071)
        
(437,300)
           
17,600
               
(3,640,000)
      
Other financing sources (uses):
Bonds issued
6,580,000
          
-
                      
-
                      
3,100,000
       
Premiums issued
81,912
               
-
                      
-
                      
-
                   
Transfer from other funds
(6,631,143)
        
-
                      
-
                      
-
                   
Transfers to other funds
6,631,143
          
-
                      
-
                      
-
                   
Total other financing sources (uses)
6,661,912
         
-
                      
-
                      
3,100,000
       
Net Change in fund balances
128,841
             
(437,300)
           
17,600
               
(540,000)
         
Fund balances - beginning
393,518
             
437,300
             
522,400
             
540,000
          
Fund balances - ending
$522,359
$0
$540,000
$0
Total Full Cash Value Net Assessed
126,092,683
     
115,997,523
     
115,826,119
     
115,333,729
   
Total Limited Property Valuation Net Assessed
54,790,386
       
57,433,435
       
57,357,342
       
59,842,294
     
Tax Rate - Debt Service 
3.0041
$             
2.8597
$             
2.8635
$             
2.9857
$          
Tax Rate - O&M
0.3000
$             
0.3000
$             
0.3000
$             
0.3000
$          
FY 2026 Budget