RES_01-26_Westpark_FY_2027_Tentative_Budget With Exhibits.pdf

RESOLUTION NO. 01-26 (Westpark) 
 
RESOLUTION OF THE BOARD OF DIRECTORS OF THE WESTPARK 
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 Westpark 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 Westpark 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 Westpark 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
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