RES 02-25 Sundance CFD - FY2026 Final Budget (002)(GR 5.19.2025)(6546064.2).pdf
City of Buckeye — Joint Community Facilities Districts (2025-06-03)
Extracted text (via pymupdf)
8429 characters
6546064.2
RESOLUTION NO. 02-25 (Sundance)
RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUNDANCE
COMMUNITY FACILITIES DISTRICT (CITY OF BUCKEYE, ARIZONA)
APPROVING THE FINAL BUDGET OF THE DISTRICT FOR FISCAL YEAR
2025/2026, BEGINNING JULY 1, 2025, AND ENDING JUNE 30, 2026.
WHEREAS, on May 20, 2025, the Board of Directors (the “District Board”) of the Sundance
Community Facilities District (City of Buckeye, Arizona) (the “District”) met and adopted the FY
2025/2026 proposed budget for the District; and
WHEREAS, the District Board intends to adopt the fiscal year 2025/2026 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 3, 2025, 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 3, 2025, 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.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
SUNDANCE COMMUNITY FACILITIES DISTRICT (CITY OF BUCKEYE, ARIZONA) as follows:
Section 1.
Budget Adopted. The District Budget in the amount of $2,934,700 is
hereby adopted as the budget of the District for the fiscal year 2025/2026.
Section 2.
No Invalidation of Proceedings. No failure by County officials to properly
return the delinquent list and no irregularity in the assessment or omission in the same, or
irregularity of any kind in any proceedings shall invalidate such proceedings or invalidate any title
conveyed by any tax deed, nor shall any failure or neglect of any officer or officers to perform any
of the duties assigned to him or to them on the day within time specified work an invalidation of
any proceedings or of any such deed or sale or affect the validity of the assessment and
levy of taxes or of the judgment or sale by which the collection of the same may be enforced or
in any manner affect the lien of the District upon such property for the delinquent taxes unpaid
thereon, and no overcharge as to part of the taxes or of costs shall invalidate any proceedings for
collecting of taxes or the foreclosure, and all acts of officers de facto shall be valid as if performed
by officers de jure.
Section 3.
Conflicting Resolutions Repealed. All resolutions and parts of resolutions
in conflict are hereby repealed.
Section 4.
Collection by County Assessor. Maricopa County, Arizona (the “County”),
is the assessing and collecting authority for the District, and the District Clerk is hereby directed
6546064.2
2
to transmit a certified copy of this Resolution to the Assessor and Board of Supervisors of the
County.
PASSED AND ADOPTED by the Board of Directors of the Sundance Community
Facilities District (City of Buckeye, Arizona), on June 3, 2025.
___________________________________
District Chairman
ATTEST:
_______________________________
District Clerk
APPROVED AS TO FORM:
_______________________________
District Attorney
Exhibit A: FY 25-26 Final Budget
EXHIBIT A - BUDGET
Buckeye, Arizona
FY 2025-26
Actual
Budget
FY 23-24
Adopted
Projected
FY 25-26
Revenues:
Property Taxes
$2,107,842
2,115,780
$2,009,400
1,954,000
Special assessments
57,625
-
100
-
Special assessments - prepayments
1,309
-
-
-
Charges for services
-
22,000
-
12,000
Investment Income
11,173
-
144,000
-
Other revenues
4,449
-
5,000
-
Total revenues
2,182,398
2,137,780
2,158,500
1,966,000
Expenditures:
Administrative Fees
35,620
49,007
30,100
30,600
Operations and Maintenance
198,449
702,500
233,000
708,100
Debt services:
Principal retirement
13,403,000
12,775,000
980,000
1,025,000
Interest and other fiscal charges
903,912
759,700
742,700
697,400
Bond issuance costs
244,181
285,025
-
-
Contingency
-
442,085
-
473,600
Total expenditures
14,785,162
15,013,317
1,985,800
2,934,700
Excess (deficiency) of revenues over
(under) expenditures
(12,602,764)
(12,875,537)
172,700
(968,700)
Other financing sources (uses):
Refunding bonds issued
11,115,000
11,235,000
-
-
Premiums issued
1,031,126
955,490
-
-
Transfer from other funds
237,410
-
34,600
-
Transfers to other funds
(237,410)
-
(34,600)
-
Total other financing sources (uses)
12,146,126
12,190,490
-
-
Net Change in fund balances
(456,638)
(685,047)
172,700
(968,700)
Fund balances - beginning
1,252,613
685,047
796,000
968,700
Fund balances - ending
$795,975
$0
$968,700
-
Total Full Cash Value Net Assessed
176,202,771
222,878,248
222,727,349
205,629,979
Total Limited Property Valuation Net Assessed
92,145,517
97,026,703
96,513,689
101,390,382
Tax Rate - Debt Service
1.9826
$
1.8806
$
1.8906
$
1.6272
$
Tax Rate - O&M
0.3000
$
0.3000
$
0.3000
$
0.3000
$
FY 24-25 Budget
Sundance Community Facilities District
EXHIBIT A - BUDGET
Buckeye, Arizona
FY 2025-26
General
Total
General
Obligations
FY 25-26
Revenues:
Property Taxes
$304,200
$1,649,800
1,954,000
Charges for services
12,000
-
12,000
Total revenues
316,200
1,649,800
1,966,000
Expenditures:
Administrative Fees
30,600
-
30,600
Operations and Maintenance
708,100
-
708,100
Debt services:
Principal retirement
-
1,025,000
1,025,000
Interest and other fiscal charges
-
697,400
697,400
Contingency
261,500
212,100
473,600
Total expenditures
1,000,200
1,934,500
2,934,700
Excess (deficiency) of revenues over
(under) expenditures
(684,000)
(284,700)
(968,700)
Transfer from other funds
-
-
-
Transfers to other funds
-
-
-
Total other financing sources (uses)
-
-
-
Net Change in fund balances
(684,000)
(284,700)
(968,700)
Fund balances - beginning
684,000
284,700
968,700
Fund balances - ending
-
-
-
Total Full Cash Value Net Assessed
205,629,979
Total Limited Property Valuation Net Assessed
101,390,382
Tax Rate - Debt Service
1.6272
$
Tax Rate - O&M
0.3000
$
Debt Service
Sundance Community Facilities District