RES 01-25 Tartesso West 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 [Tartesso West]
RESOLUTION OF THE BOARD OF DIRECTORS OF THE TARTESSO WEST
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 Tartesso West 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 Tartesso West 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 Tartesso West 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
Tartesso West Community Facilities District
Buckeye, Arizona
FY 2025-26
Actual
Budget
FY 23-24
Adopted
Projected
FY 25-26
Revenues:
Property Taxes
$1,494,000
$1,810,600
$1,809,000
$1,814,700
Developer Contribution
-
247,360
225,900
-
Total revenues
1,494,000
2,057,960
$2,034,900
1,814,700
Expenditures:
Administrative Fees
38,335
13,000
47,200
47,900
Operations and Maintenance
100,338
199,500
95,600
200,200
Debt services:
Principal retirement
640,000
740,000
760,000
705,000
Interest and other fiscal charges
702,557
905,983
881,800
937,400
Bond issuance costs
14,625
289,084
237,300
-
Developer Reimbursement
-
6,058,533
6,631,100
-
Contingency
-
388,618
-
361,500
Total expenditures
1,495,855
8,594,718
8,653,000
2,252,000
Excess (deficiency) of revenues over
(under) expenditures
(1,855)
(6,536,758)
(6,618,100)
(437,300)
Other financing sources (uses):
Bonds issued
-
6,030,000
6,580,000
-
Premiums issued
-
70,257
81,900
-
Transfer from other funds
-
6,058,533
6,631,100
100
Transfers to other funds
-
(6,058,533)
(6,631,100)
(100)
Total other financing sources (uses)
-
6,100,257
6,661,900
-
Net Change in fund balances
(1,855)
(436,501)
43,800
(437,300)
Fund balances - beginning
395,373
436,501
393,500
437,300
Fund balances - ending
$393,518
$0
$437,300
$0
Total Full Cash Value Net Assessed
98,571,971
126,033,057
126,092,683
115,997,523
Total Limited Property Valuation Net Assessed
51,296,895
54,872,352
54,790,386
57,433,435
Tax Rate - Debt Service
2.6175
$
2.9997
$
3.0041
$
2.8597
$
Tax Rate - O&M
0.3000
$
0.3000
$
0.3000
$
0.3000
$
FY 24-25 Budget
EXHIBIT A - BUDGET
Tartesso West Community Facilities District
Buckeye, Arizona
FY 2025-26
Total
General
Debt Service
FY 25-26
Revenues:
Property Taxes
$172,300
$1,642,400
1,814,700
Total revenues
172,300
1,642,400
1,814,700
Expenditures:
Administrative Fees
47,900
-
47,900
Operations and Maintenance
200,200
-
200,200
Debt services:
Principal retirement
-
705,000
705,000
Interest and other fiscal charges
-
937,400
937,400
Contingency
170,000
191,500
361,500
Total expenditures
418,100
1,833,900
2,252,000
Excess (deficiency) of revenues over
(under) expenditures
(245,800)
(191,500)
(437,300)
Other financing sources (uses):
Bonds issued
-
-
-
Refunding bonds issued
-
-
-
Premiums issued
-
-
-
Transfer from other funds
100
-
100
Transfers to other funds
-
(100)
(100)
Total other financing sources (uses)
100
(100)
-
Net Change in fund balances
(245,700)
(191,600)
(437,300)
Fund balances - beginning
245,700
191,600
437,300
Fund balances - ending
-
-
-
Total Full Cash Value Net Assessed
115,997,523
Total Limited Property Valuation Net Assessed
57,433,435
Tax Rate - Debt Service
2.8597
$
Tax Rate - O&M
0.3000
$