RES_01-26_Watson_Road_FY_2027_Tentative_Budget with Exhibits.pdf

RESOLUTION NO. 01-26 (Watson Road) 
 
RESOLUTION OF THE BOARD OF DIRECTORS OF THE WATSON ROAD 
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 Watson Road 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 Watson Road 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 Watson Road 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
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
          
56,000
             
-
                       
Impact Fees - CFD Reimbursement
-
                       
-
                       
1,412,900
       
-
                       
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