Board of Directors of the Verrado District 1 Community Facilities District to take action on Resolution No. 02-25 approving the Final Budget of the District for Fiscal Year 2025-2026 beginning July 1,

3.H
CITY OF BUCKEYE
Joint Meeting of the Community Facilities Districts
BOARD ACTION REPORT
MEETING DATE: 06/03/25
AGENDA ITEM: 3.H. Fiscal Year 2025-
2026 Community Facilities District Final
Budget - Verrado District 1 CFD
DATE PREPARED: 05/29/25
DISTRICT NO.: Verrado District 1
STAFF LIAISON: Larry Price, Special Districts Manager, lprice@buckeyeaz.gov,
(623) 349-6164
DEPARTMENT: Financial Services
AGENDA ITEM TYPE: CFD Item
ACTION/MOTION: (This language identifies the formal motion to be made by the Council) 
Board of Directors of the Verrado District 1 Community Facilities District to take action on Resolution No.
02-25 approving the Final Budget of the District for Fiscal Year 2025-2026 beginning July 1, 2025, and
ending June 30, 2026.
RELEVANT GOALS: 
GOAL 1: Fiscal Wellness and Financial Flexibility and Accountability
ADDITIONAL RELEVANT GOALS: 
GOAL 5: Responsive and Accountable Government and Effective Public Services
SUMMARY
PROJECT DESCRIPTION:
On May 20, 2025, the Board approved Resolution No. 01-25, which resolution adopted a Tentative
Budget for Fiscal Year 2025-2026 in the amount of $7,858,700 and scheduled a public hearing on June
3, 2025, at which property owners within the District may comment in favor of or against the expenditures
or tax levy. Notification was made through publication and by mail as required by law. Arizona law
provides that the total amounts proposed to be spent in the final budget shall not exceed the total
amounts that were proposed for expenditure in the adopted tentative estimates.
BENEFITS:
Under Arizona law, each community facilities district must adopt an Annual Budget and establish a tax
levy and rate for the property within the District to meet the operating needs, including debt service, of
the District.
FUTURE ACTION:
The Board will meet on June 17, 2025, to approve a tax levy and rate for Fiscal Year 2025-2026 for the
District.
FINANCIAL IMPACT STATEMENT:
The Final Budget estimate for Fiscal Year 2025-2026 is $7,858,700.
CURRENT FISCAL YEAR TOTAL COST:
$7,858,700
BUDGETED:
Yes

FUND/DEPARTMENT:
8001
Items related to a project or facility location must include an attached vicinity map for Council
Review.
ATTACHMENTS:
RES 02-25 Verrado District 1 CFD - FY2026 Final Budget (002)(GR 5.19.2025)(6546072.2).pdf