RES 01-25 Sundance CFD FY25-26 Tentative Budget (05.06.2025).pdf
City of Buckeye — Joint Community Facilities Districts (2025-05-20)
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RESOLUTION NO. 01-25 [Sundance]
RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUNDANCE
COMMUNITY FACILITIES DISTRICT (CITY OF BUCKEYE, ARIZONA),
APPROVING THE TENTATIVE BUDGET OF THE DISTRICT FOR THE
FISCAL YEAR 2025-2026 BEGINNING JULY 1, 2025, AND ENDING JUNE 30,
2026, AND SETTING HEARING DATES FOR THE BUDGET AND TAX LEVY.
BE IT RESOLVED by the Board of Directors of the Sundance 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 Sundance Community Facilities District
(City of Buckeye, Arizona) (the “District”) for the fiscal year 2025-2026. 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 2025-2026 Annual Budget for the District; said
hearing to be conducted on June 3, 2025, 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 17, 2025, same time and place.
Section 3. This Resolution shall be effective immediately.
PASSED AND ADOPTED by the Board of Directors of the Sundance Community
Facilities District (City of Buckeye, Arizona), on May 20, 2025.
District Chairman
ATTEST:
APPROVED AS TO FORM:
District Clerk District Attorney
Exhibit A: FY 25-26 Tentative 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