RES_01-26_Verrado_District_1_FY_2027_Tentative_Budget with Exhibits.pdf

RESOLUTION NO. 01-26 (Verrado District #1) 
 
RESOLUTION OF THE BOARD OF DIRECTORS OF THE VERRADO 
DISTRICT #1 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 Verrado District #1 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 Verrado District #1 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 Verrado District #1 
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
Verrado District #1 Community Facilities District
Buckeye, Arizona
FY 2027
Actual
Budget
FY 2025
Adopted
Projected
FY 2027
Revenues:
Property Taxes
$7,070,941
$7,369,600
$7,254,600
$7,454,500
Investment Income
29,068
             
-
                        
29,000
             
25,000
             
Total revenues
7,100,009
       
7,369,600
       
7,283,600
       
7,479,500
       
Expenditures:
Administrative Fees
106,284
          
128,000
          
110,000
          
110,000
          
Operations and Maintenance
276,043
          
774,000
          
477,500
          
629,000
          
Debt services:
 
 
Principal retirement
4,260,000
       
4,420,000
       
4,420,000
       
4,575,000
       
Interest and other fiscal charges
2,412,908
       
2,253,600
       
2,253,600
       
2,091,000
       
Contingency
-
                   
283,100
          
-
                   
364,900
          
Total expenditures
7,055,235
       
7,858,700
       
7,261,100
       
7,769,900
       
Excess (deficiency) of revenues over
(under) expenditures
44,774
             
(489,100)
         
22,500
             
(290,400)
         
Other financing sources (uses):
Transfer from other funds
-
                   
-
                   
(150,000)
         
-
                   
Transfers to other funds
-
                   
-
                   
150,000
          
-
                   
Total other financing sources (uses)
-
                   
-
                   
-
                   
-
                   
Net Change in fund balances
44,774
             
(489,100)
         
22,500
             
(290,400)
         
Fund balances - beginning
223,080
          
489,100
          
267,900
          
290,400
          
Fund balances - ending
$267,854
$0
$290,400
$0
Total Full Cash Value Net Assessed
410,925,319
   
422,646,182
   
422,769,920
   
464,931,908
   
Total Limited Property Valuation Net Assessed
215,384,054
   
232,008,265
   
231,661,025
   
262,847,230
   
Tax Rate - Debt Service
3.0036
$          
2.8764
$          
2.8808
$          
2.5361
$          
Tax Rate - O&M
0.3000
$          
0.3000
$          
0.3000
$          
0.3000
$          
FY 2026 Budget