QUAILWOOD MEADOWS FY 2015

QUAILWOOD
MEADOWS
COMMUNITY FACILITIES
DISTRICT
FY 2015-16
ANNUAL BUDGET
Quailwood Meadows Community Facilities District
Annual Budget 2015-16
Revenues:
Property Taxes - General (Operating)
Property Taxes - Secondary (Debt Service)
Developer Contribution (Debt Service)
Interest on Investments
$
Total Revenues
28,484
311,796
39,375
379,655
Expenditures:
General Operations
Debt Service
Capital Improvements
66,163
428,689
-
Total Expenditures
494,852
Excess (Deficiency) of Revenues Over
(Under) Expenditures
(115,197)
Beginning Fund Balance
390,265
Ending Fund Balance
$
275,068
Community Facilities Districts are formed under the Community Facilities Act Legislation adopted by the State
Legislature in 1988. The formation of facilities districts may result in the levy of ad valorem taxes to finance
public infrastructure and enhanced municipal services.
On August 12, 2004, the Town Council adopted Resolution No. 1294 forming the Quailwood Meadows
Community Facilities District (District). On August 12, 2004, the District Board adopted Resolution No. 1 which
organized the District and set an election for October 12, 2004, to consider whether to (a) issue and sell general
obligation bonds of the District for public infrastructure in a maximum amount of $25,000,000, payable from an
ad valorem tax (estimated at $3.28 per $100 secondary assessed valuation for the fiscal year 2015-16) against real
and personal property located in the District (see legal description of property), and (b) levy an ad valorem tax on
real and personal property in the District not in excess of $.30 per $100 of secondary assessed valuation for District
operation and maintenance.
Property taxes are based on $9,494,500 secondary assessed valuation per Yavapai County Assessor's office
(Limited Value Special Districts).
Excess cash contribution of $84,000.
1
Quailwood Meadows Community Facilities District
Annual Budget 2015-16
Personnel Services
12,813
Professional and Contractual Services
33,250
Printing, Binding and Other Services
-
Insurance
-
Miscellaneous
20,100
Replacement Reserve Set Aside
-
Debt Service
428,689
Total Appropriations
494,852
2
Quailwood Meadows Community Facilities District
Annual Budget 2015-16
Personnel Services
Accounting and Auditing Services
1,013
Engineering Services
2,069
Attorney and Legal Services
2,770
District Manager
2,950
District Clerk
1,270
District Treasurer
1,711
CFD Administration
1,030
Total Personnel Services
12,813
Professional and Other Contracted Services
Landscaping Services
32,000
Other Professional Services
1,250
Total Professional and Other Contracted Services
33,250
Printing, Binding and Other Services
Photocopy and Microfilming
-
Legal Advertising
-
Recording Costs
-
Total Printing, Binding and Other Services
-
Insurance
Insurance and Bonds
-
Total Insurance
-
Miscellaneous
Miscellaneous Supplies
-
Miscellaneous Services - Utility
20,100
Total Miscellaneous
20,100
Replacement Reserve Set Aside
-
3
QUAILWOOD
MEADOWS
COMMUNITY FACILITIES
DISTRICT
FY 2014-15
ANNUAL BUDGET
Exhibit "B"
Quailwood Meadows Community Facilities District
Annual Budget 2014-15
Revenues:
Property Taxes - General (Operating)
Property Taxes - Secondary (Debt Service)
Developer Contribution (Debt Service)
Interest on Investments
$
26,010
372,680
78,750
-
Total Revenues
477,440
Expenditures:
General Operations
Debt Service
62,773
432,796
Total Expenditures
495,569
Excess (Deficiency) of Revenues Over
(Under) Expenditures
(18,129)
Beginning Fund Balance
149,033
Ending Fund Balance
$
130,904
Community Facilities Districts are formed under the Community Facilities Act Legislation adopted by the State
Legislature in 1988. The formation of facilities districts may result in the levy of ad valorem taxes to finance
public infrastructure and enhanced municipal services.
On August 12, 2004, the Town Council adopted Resolution No. 1294 forming the Quailwood Meadows
Community Facilities District (District). On August 12, 2004, the District Board adopted Resolution No. 1 which
organized the District and set an election for October 12, 2004, to consider whether to (a) issue and sell general
obligation bonds of the District for public infrastructure in a maximum amount of $25,000,000, payable from an
ad valorem tax (estimated at $4.30 per $100 secondary assessed valuation for the fiscal year 2014-15) against real
and personal property located in the District (see legal description of property), and (b) levy an ad valorem tax on
real and personal property in the District not in excess of $.30 per $100 of secondary assessed valuation for
District operation and maintenance.
Property taxes are based on $8,670,024 secondary assessed valuation per Yavapai County Assessor's office.
1
Quailwood Meadows Community Facilities District
Annual Budget 2014-15
Personnel Services
12,188
Professional and Contractual Services
30,835
Printing, Binding and Other Services
-
Insurance
-
Miscellaneous
19,750
Replacement Reserve Set Aside
-
Debt Service
432,796
Total Appropriations
495,569
2
Quailwood Meadows Community Facilities District
Annual Budget 2014-15
Personnel Services
Accounting and Auditing Services
1,022
Engineering Services
1,896
Attorney and Legal Services
2,723
District Manager
2,658
District Clerk
1,167
District Treasurer
1,699
CFD Administration
1,023
Total Personnel Services
12,188
Professional and Other Contracted Services
Landscaping Services
30,200
Other Professional Services
635
Total Professional and Other Contracted Services
30,835
Printing, Binding and Other Services
Photocopy and Microfilming
-
Legal Advertising
-
Recording Costs
-
Total Printing, Binding and Other Services
-
Insurance
Insurance and Bonds
-
Total Insurance
-
Miscellaneous
Miscellaneous Supplies
-
Miscellaneous Services - Utility
19,750
Total Miscellaneous
19,750
Replacement Reserve Set Aside
-
3
QUAILWOOD
MEADOWS
COMMUNITY FACILITIES
DISTRICT
FY 2013-14
ANNUAL BUDGET
Quailwood Meadows Community Facilities District
Annual Budget 2013-14
Revenues:
Property Taxes - General (Operating)
Property Taxes - Secondary (Debt Service)
Developer Contribution (Operating)
Developer Contribution (Debt Service)
Interest on Investments
$
20,637
361,140
214,459
6
Total Revenues
596,242
Expenditures:
General Operations
Debt Service
71,485
575,605
Total Expenditures
647,090
Excess (Deficiency) of Revenues Over
(Under) Expenditures
(50,848)
Beginning Fund Balance
113,117
Ending Fund Balance
$
62,269
Community Facilities Districts are formed under the Community Facilities Act Legislation adopted by the State
Legislature in 1988. The formation of facilities districts may result in the levy of ad valorem taxes to finance
public infrastructure and enhanced municipal services.
On August 12, 2004, the Town Council adopted Resolution No. 1294 forming the Quailwood Meadows
Community Facilities District (District). On August 12, 2004, the District Board adopted Resolution No. 1 which
organized the District and set an election for October 12, 2004, to consider whether to (a) issue and sell general
obligation bonds of the District for public infrastructure in a maximum amount of $25,000,000, payable from an
ad valorem tax (estimated at $5.25 per $100 secondary assessed valuation for the fiscal year 2013-14) against real
and personal property located in the District (see legal description of property), and (b) levy an ad valorem tax on
real and personal property in the District not in excess of $.30 per $100 of secondary assessed valuation for
District operation and maintenance.
Property taxes are based on $6,878,855 secondary assessed valuation per Yavapai County Assessor's office.
1
Quailwood Meadows Community Facilities District
Annual Budget 2013-14
Personnel Services
11,657
Professional and Contractual Services
34,278
Printing, Binding and Other Services
-
Insurance
-
Miscellaneous
25,550
Replacement Reserve Set Aside
-
Debt Service
575,605
Total Appropriations
647,090
2
Quailwood Meadows Community Facilities District
Annual Budget 2013-14
Personnel Services
Accounting and Auditing Services
951
Engineering Services
2,126
Attorney and Legal Services
2,475
District Manager
2,477
District Clerk
1,076
District Treasurer
1,530
CFD Administration
1,021
Total Personnel Services
11,657
Professional and Other Contracted Services
Landscaping Services
30,200
Other Professional Services
4,078
Total Professional and Other Contracted Services
34,278
Printing, Binding and Other Services
Photocopy and Microfilming
-
Legal Advertising
-
Recording Costs
-
Total Printing, Binding and Other Services
-
Insurance
Insurance and Bonds
-
Total Insurance
-
Miscellaneous
Miscellaneous Supplies
-
Miscellaneous Services - Utility
25,550
Total Miscellaneous
25,550
Replacement Reserve Set Aside
-
3
QUAILWOOD
MEADOWS
COMMUNITY FACILITIES
DISTRICT
FY 2012-13
BUDGET
Exhibit "B"
Quailwood Meadows Community Facilities District
Annual Budget 2012-13
Revenues:
Property Taxes - General (Operating)
Property Taxes - Secondary (Debt Service)
Developer Contribution (Operating)
Developer Contribution (Debt Service)
Interest on Investments
$
20,675
361,819
175,140
6
Total Revenues
557,640
Expenditures:
General Operations
Debt Service
71,299
581,410
Total Expenditures
652,709
Excess (Deficiency) of Revenues Over
(Under) Expenditures
(95,069)
Other Financing Sources (Uses):
Transfer from Deposit Account
44,445
Total Other Financing Sources (Uses)
44,445
Excess (Deficiency) of Revenues and
Sources Over (Under) Expenditures and
Other Uses
(50,624)
Beginning Fund Balance
195,536
Ending Fund Balance
$
144,912
Community Facilities Districts are formed under the Community Facilities Act Legislation adopted by the State
Legislature in 1988. The formation of facilities districts may result in the levy of ad valorem taxes to finance
public infrastructure and enhanced municipal services.
On August 12, 2004, the Town Council adopted Resolution No. 1294 forming the Quailwood Meadows
Community Facilities District (District). On August 12, 2004, the District Board adopted Resolution No. 1 which
organized the District and set an election for October 12, 2004, to consider whether to (a) issue and sell general
obligation bonds of the District for public infrastructure in a maximum amount of $25,000,000, payable from an
ad valorem tax (estimated at $5.25 per $100 secondary assessed valuation for the fiscal year 2012-13) against real
and personal property located in the District (see legal description of property), and (b) levy an ad valorem tax on
real and personal property in the District not in excess of $.30 per $100 of secondary assessed valuation for
District operation and maintenance.
Property taxes are based on $6,891,797 secondary assessed valuation per Yavapai County Assessor's office.
1
Quailwood Meadows Community Facilities District
Annual Budget 2012-13
Personnel Services
11,529
Professional and Contractual Services
34,220
Printing, Binding and Other Services
-
Insurance
-
Miscellaneous
25,550
Replacement Reserve Set Aside
-
Debt Service
581,410
Total Appropriations
652,709
2
Quailwood Meadows Community Facilities District
Annual Budget 2012-13
Personnel Services
Accounting and Auditing Services
951
Engineering Services
2,109
Attorney and Legal Services
2,421
District Manager
2,446
District Clerk
1,065
District Treasurer
1,507
CFD Administration
1,030
Total Personnel Services
11,529
Professional and Other Contracted Services
Landscaping Services
30,200
Other Professional Services
4,020
Total Professional and Other Contracted Services
34,220
Printing, Binding and Other Services
Photocopy and Microfilming
-
Legal Advertising
-
Recording Costs
-
Total Printing, Binding and Other Services
-
Insurance
Insurance and Bonds
-
Total Insurance
-
Miscellaneous
Miscellaneous Supplies
-
Miscellaneous Services - Utility
25,550
Total Miscellaneous
25,550
Replacement Reserve Set Aside
-
3
QUAILWOOD
MEADOWS
COMMUNITY FACILITIES
DISTRICT
FY 2011-12
BUDGET
Exhibit "B"
Quailwood Meadows Community Facilities District
Annual Budget 2011-12
Revenues:
Property Taxes - General (Operating)
Property Taxes - Secondary (Debt Service)
Developer Contribution (Operating)
Developer Contribution (Debt Service)
Interest on Investments
$
26,917
352,613
1,161
Total Revenues
380,691
Expenditures:
General Operations
Debt Service
68,741
582,070
Total Expenditures
650,811
Excess (Deficiency) of Revenues Over
(Under) Expenditures
(270,120)
Other Financing Sources (Uses):
Transfer from Reserve Account
228,296
Total Other Financing Sources (Uses)
228,296
Excess (Deficiency) of Revenues and
Sources Over (Under) Expenditures and
Other Uses
(41,824)
Beginning Fund Balance
552,091
Ending Fund Balance
$
510,267
Community Facilities Districts are formed under the Community Facilities Act Legislation adopted by the State
Legislature in 1988. The formation of facilities districts may result in the levy of ad valorem taxes to finance
public infrastructure and enhanced municipal services.
On August 12, 2004, the Town Council adopted Resolution No. 1294 forming the Quailwood Meadows
Community Facilities District (District). On August 12, 2004, the District Board adopted Resolution No. 1 which
organized the District and set an election for October 12, 2004, to consider whether to (a) issue and sell general
obligation bonds of the District for public infrastructure in a maximum amount of $25,000,000, payable from an
ad valorem tax ($3.93 per $100 secondary assessed valuation for the fiscal year 2011-12) against real and personal
property located in the District (see legal description of property), and (b) levy an ad valorem tax on real and
apersonal property in the District not in excess of $.30 per $100 of secondary assessed valuation for District
operation and maintenance.
Property taxes are based on $8,972,344 secondary assessed valuation per Yavapai County Assessor's Office.
1
Quailwood Meadows Community Facilities District
Annual Budget 2011-12
Personnel Services
8,986
Professional and Contractual Services
34,205
Printing, Binding and Other Services
-
Insurance
-
Miscellaneous
25,550
Replacement Reserve Set Aside
-
Debt Service
582,070
Total Appropriations
650,811
2
Quailwood Meadows Community Facilities District
Annual Budget 2011-12
Personnel Services
Accounting and Auditing Services
826
Engineering Services
-
Attorney and Legal Services
2,315
District Manager
2,385
District Clerk
1,009
District Treasurer
1,429
CFD Administration
1,021
Total Personnel Services
8,986
Professional and Other Contracted Services
Landscaping Services
Other Professional Services
30,200
4,005
Total Professional and Other Contracted Services
34,205
Printing, Binding and Other Services
Photocopy and Microfilming
-
Legal Advertising
-
Recording Costs
-
Total Printing, Binding and Other Services
-
Insurance
Insurance and Bonds
-
Total Insurance
-
Miscellaneous
Miscellaneous Supplies
-
Miscellaneous Services - Utility
25,550
Total Miscellaneous
25,550
Replacement Reserve Set Aside
-
3
QUAILWOOD
MEADOWS
COMMUNITY FACILITIES
DISTRICT
FY 2009-10
BUDGET
Exhibit "B"
Quailwood Meadows Community Facilities District
Annual Budget 2009-10
Revenues:
Property Taxes - General (Operating)
Property Taxes - Secondary (Debt Service)
Developer Contribution (Operating)
Developer Contribution (Debt Service)
Interest on Investments ($694,000 x .50%)
$
Total Revenues
47,732
477,319
3,470
528,521
Expenditures:
General Operations
Debt Service
Capital Improvements
93,473
559,905
-
Total Expenditures
653,378
Excess (Deficiency) of Revenues Over
(Under) Expenditures
(124,857)
Other Financing Sources (Uses):
General Obligation Bonds
Special Assessment Bonds
-
Total Other Financing Sources (Uses)
-
Excess (Deficiency) of Revenues and
Sources Over (Under) Expenditures and
Other Uses
(124,857)
Beginning Fund Balance
644,500
Ending Fund Balance
$
519,643
Community Facilities Districts are formed under the Community Facilities Act Legislation adopted by
the State Legislature in 1988. The formation of facilities districts may result in the levy of ad valorem taxes
to finance public infrastructure and enhanced municipal services.
On August 12, 2004, the Town Council adopted Resolution No. 1294 forming the Quailwood Meadows
Community Facilities District (District). On August 12, 2004, the District Board adopted Resolution No. 1
which organized the District and set an election for October 12, 2004, to consider whether to (a) issue and
sell general obligation bonds of the District for public infrastructure in a maximum amount of $25,000,000,
payable from an ad valorem tax ($3.00 per $100 secondary assessed valuation) against real and personal
property located in the District (see legal description of property), and (b) levy an ad valorem tax on real and
personal property in the District not in excess of $.30 per $100 of secondary assessed valuation for District
operation and maintenance.
Property taxes are based on $15,910,622 secondary assessed valuation per Yavapai County Assessor's Office.
1
Quailwood Meadows Community Facilities District
Annual Budget 2009-10
Personnel Services
13,223
Professional and Contractual Services
49,500
Printing, Binding and Other Services
-
Insurance
-
Miscellaneous
30,750
Replacement Reserve Set Aside
-
Debt Service
559,905
Capital Improvements:
Balance of Proceeds
Machinery and Equipment Purchased by
the Town for the CFD
Total Appropriations
653,378
2
Quailwood Meadows Community Facilities District
Annual Budget 2009-10
Personnel Services
Accounting and Auditing Services
2,801
Engineering Services
1,963
Attorney and Legal Services
2,373
District Manager
2,555
District Clerk
1,027
District Treasurer
1,477
CFD Administration
1,028
Total Personnel Services
13,223
Professional and Other Contracted Services
Landscaping Services
46,000
Other Professional Services
3,500
Total Professional and Other Contracted Services
49,500
Printing, Binding and Other Services
Photocopy and Microfilming
-
Legal Advertising
-
Recording Costs
-
Total Printing, Binding and Other Services
-
Insurance
Insurance and Bonds
-
Total Insurance
-
Miscellaneous
Miscellaneous Supplies
-
Miscellaneous Services - Utility
30,750
Total Miscellaneous
30,750
Replacement Reserve Set Aside
-
3
QUAILWOOD
MEADOWS
COMMUNITY FACILITIES
DISTRICT
FY 2008-09
BUDGET
Exhibit "B"
Quailwood Meadows Community Facilities District
Annual Budget 2008-09
Revenues:
Property Taxes - General (Operating)
Property Taxes - Secondary (Debt Service)
Special Assessments
Developer Contribution (Operating)
Developer Contribution (Debt Service)
Interest on Investments ($694,000 x 2.25%)
Total Revenues
$45,917
$459,173
$0
$30,000
$87,477
$15,615
$638,182
Expenditures:
General Operations
Debt Service
Capital Improvements
$193,458
$562,265
$0
Total Expenditures
$755,723
Excess (Deficiency) of Revenues Over
(Under) Expenditures
Other Financing Sources (Uses):
General Obligation Bonds
Special Assessment Bonds
($117,540)
$0
$0
Total Other Financing Sources (Uses)
Excess (Deficiency) of Revenues and
Sources Over (Under) Expenditures and
Other Uses
$0
($117,540)
Beginning Fund Balance
$605,000
Ending Fund Balance
$487,460
Community Facilities Districts are formulated under the Community Facilities Act Legislation adopted by
the State Legislature in 1988. The formulation of facility districts may result in the levy of ad valorem taxes
to finance public infrastructure and enhanced municipal services.
On August 12, 2004, the Town Council adopted Resolution No. 1294 forming the Quailwood Meadows
Community Facilities District (District). On August 12, 2004, the District Board adopted Resolution No. 1
which organized the District and set an election for October 12, 2004, to consider whether to (a) issue and
sell general obligation bonds of the District for public infrastructure in a maximum amount of $25,000,000,
payable from an ad valorem tax ($3.00 per $100 secondary assessed valuation) against real and personal
property located in the District (see legal description of property), and (b) levy an ad valorem tax on real and
personal property in the District not in excess of $.30 per $100 of secondary assessed valuation for District
operation and maintenance.
Property taxes are based on $16,111,338 secondary assessed valuation per Yavapai County Assessor's Office.
1
Quailwood Meadows Community Facilities District
Annual Budget 2008-09
Personnel Services
$13,458
Professional and Contractual Services
$71,600
Printing, Binding and Other Services
$0
Insurance
$0
Miscellaneous
$39,000
Replacement Reserve Set Aside
$69,400
Debt Service
$562,265
Capital Improvements:
Balance of Proceeds
Machinery and Equipment Purchased by
the Town for the CFD
Total Appropriations
$0
$0
$755,723
2
Quailwood Meadows Community Facilities District
Annual Budget 2008-09
Personnel Services
Accounting and Auditing Services
$2,703
Engineering Services
$2,049
Attorney and Legal Services
$2,480
District Manager
$2,670
District Clerk
$1,037
District Treasurer
$1,491
CFD Administration
$1,028
Total Personnel Services
$13,458
Professional and Other Contracted Services
Landscaping Services
$65,000
Other Professional Services
$6,600
Total Professional and Other Contracted Services
$71,600
Printing, Binding and Other Services
Photocopy and Microfilming
$0
Legal Advertising
$0
Recording Costs
$0
Total Printing, Binding and Other Services
$0
Insurance
Insurance and Bonds
$0
Total Insurance
$0
Miscellaneous
Miscellaneous Supplies
$0
Miscellaneous Services - Utility
$39,000
Total Miscellaneous
$39,000
Replacement Reserve Set Aside
$69,400
3
QUAILWOOD
MEADOWS
COMMUNITY FACILITIES
DISTRICT
FY 2007-08
BUDGET
Exhibit "B"
Quailwood Meadows Community Facilities District
Annual Budget 2007-08
Revenues:
Property Taxes - General (Operating)
Property Taxes - Secondary (Debt Service)
Special Assessments
Developer Contribution (Operating)
Developer Contribution (Debt Service)
Interest on Investments ($694,000 x 3.5%)
Total Revenues
$33,601
$336,009
$0
$30,000
$182,703
$24,290
$606,603
Expenditures:
General Operations
Debt Service
Capital Improvements
$214,688
$543,003
$250,000
Total Expenditures
$1,007,691
Excess (Deficiency) of Revenues Over
(Under) Expenditures
Other Financing Sources (Uses):
General Obligation Bonds
Special Assessment Bonds
Total Other Financing Sources (Uses)
Excess (Deficiency) of Revenues and
Sources Over (Under) Expenditures and
Other Uses
Beginning Fund Balance
($401,087)
$0
$0
$0
($401,087)
$89,712
Ending Fund Balance
($311,375)
Community Facilities Districts are formulated under the Comminity Facilities Act Legislation adopted by
the State Legislature in 1988. The formulation of facility districts may result in the levy of ad valorem taxes
to finance public infrastructure and enhanced municipal services.
On August 12, 2004, the Town Council adopted Resolution No. 1294 forming the Quailwood Meadows
Community Facilities District (District). On August 12, 2004, the District Board adopted Resolution No. 1
which organized the District and set an election for October 12, 2004, to consider whether to (a) issue and
sell general obligation bonds of the District for public infrastructure in a maximum amount of $25,000,000,
payable from an ad valorem tax ($3.00 per $100 secondary assessed valuation) against real and personal
property located in the District (see legal description of property), and (b) levy an ad valorem tax on real and
personal property in the District not in excess of $.30 per $100 of secondary assessed valuation for District
operation and maintenance.
Property taxes are based on $11,789,792 secondary assessed valuation per Yavapai County Assessor's Office.
Page 1 of 3
Quailwood Meadows Community Facilities District
Annual Budget 2007-08
Personnel Services
$11,788
Professional and Contractual Services
$91,500
Printing, Binding and Other Services
$0
Insurance
$0
Miscellaneous
$42,000
Replacement Reserve Set Aside
$69,400
Debt Service
$543,003
Capital Improvements:
Balance of Proceeds
Machinery and Equipment Purchased by
the Town for the CFD
Total Appropriations
$250,000
$0
$1,007,691
Page 2 of 3
Quailwood Meadows Community Facilities District
Annual Budget 2007-08
Personnel Services
Accounting and Auditing Services
$2,736
Engineering Services
$1,916
Attorney and Legal Services
$2,161
District Manager
$2,305
District Clerk
$913
District Treasurer
$1,300
CFD Administration
$456
Total Personnel Services
$11,788
Professional and Other Contracted Services
Landscaping Services
$84,000
Other Professional Services
$7,500
Total Professional and Other Contracted Services
$91,500
Printing, Binding and Other Services
Photocopy and Microfilming
$0
Legal Advertising
$0
Recording Costs
$0
Total Printing, Binding and Other Services
$0
Insurance
Insurance and Bonds
$0
Total Insurance
$0
Miscellaneous
Miscellaneous Supplies
$0
Miscellaneous Services - Utility
$42,000
Total Miscellaneous
$42,000
Replacement Reserve Set Aside
$69,400
Page 3 of 3
QUAILWOOD
MEADOWS
COMMUNITY FACILITIES
DISTRICT
FY 2006-07
BUDGET
Exhibit "B"
Quailwood Meadows Community Facilities District
Fiscal year 2006-07 Annual Budget
Revenues:
Property taxes - General (Operating)
Property taxes - Secondary (Debt Service)
Special assessments
Developer contribution (Operating)
Developer contribution (Debt Service)
Interest on investments ($694,000 x 3.5%)
Total revenues
$13,012
$130,119
$0
$30,000
$253,594
$24,290
$451,015
Expenditures:
General Operations
Debt service
Capital improvements
$137,650
$408,003
$500,000
Total expenditures
$1,045,653
Excess (deficiency) of revenues over
(under) expenditures
Other financing sources (uses):
General obligation bonds
Special assessment bonds
($594,638)
$0
$0
Total other financing sources (uses)
Excess (deficiency) of revenues and
sources over (under) expenditures and
other uses
Beginning fund balance
$0
($594,638)
$434,350
Ending fund balance
($160,288)
Community Facilities Districts are formulated under the Comminity Facilities Act Legislation adopted by the
State Legislature in 1988. The formulation of facility districts may result in the levy of ad valorem taxes to
finance public infrastructure and enhanced municipal services.
On August 12, 2004, the Town Council adopted Resolution No. 1294 forming the Quailwood Meadows
Community Facilities District (District). On August 12, 2004, the District Board adopted Resolution No. 1
which organized the District and set an election for October 12, 2004, to consider whether to (a) issue and
sell general obligation bonds of the District for public infrastructure in a maximum amount of $25,000,000,
payable from an ad valorem tax ($3.00 per $100 secondary assessed valuation) against real and personal
property located in the District (see legal description of property), and (b) levy an ad valorem tax on real and
personal property in the District not in excess of $.30 per $100 of secondary assessed valuation for District
operation and maintenance.
Property taxes are based on $4,565,566 secondary assessed valuation per Yavapai County Assessor's Office.
Page 1 of 3
Quailwood Meadows Community Facilities District
Fiscal year 2006-07 Annual Budget
Personnel Services
$10,750
Professional and contractual services
$49,000
Printing, binding and other services
$0
Insurance
$0
Miscellaneous
$8,500
Replacement Reserve set aside
Debt service
$69,400
$408,003
Capital improvements:
Balance of proceeds
Machinery and equipment purchased by
the Town for the CFD
Total appropriations
$500,000
$0
$1,045,653
Page 2 of 3
Quailwood Meadows Community Facilities District
Fiscal year 2006-07 Annual Budget
Personnel Services
Accounting and auditing services
$2,763
Engineering services
$1,868
Attorney and legal services
$1,821
District Manager
$1,888
District Clerk
$705
District Treasurer
$1,099
CFD Administration
$605
Total Personnel Services
$10,750
Professional and other contracted services
Landscaping services
$46,000
General Street Maintenance
$3,000
Consultants
Total Consultants
$0
$49,000
Printing, binding and other services
Photocopy and microfilming
$0
Legal advertising
$0
Recording costs
$0
Total Printing, binding and other services
$0
Insurance
Insurance and bonds
$0
Total Insurance
$0
Miscellaneous
Miscellaneous supplies
$0
Miscellaneous services - Utility
$8,500
Total Miscellaneous
$8,500
Replacement Reserve set aside
Total proposed budget
$69,400
$137,650
Page 3 of 3
QUAILWOOD
MEADOWS
COMMUNITY FACILITIES
DISTRICT
FY 2005-06
BUDGET
Exhibit "B"
Quailwood Meadows Community Facilities District
Fiscal year 2005-06 Annual Budget
Revenues:
Property taxes - General (Operating)
Property taxes - Secondary (Debt Service)
Special assessments
Developer contribution (Operating)
Developer contribution (Debt Service)
Interest on investments ($694,000 x 2%)
Total revenues
$0
$0
$0
$30,000
$394,123
$13,880
$438,003
Expenditures:
General Operations
Debt service
Capital improvements
$95,650
$408,003
$1,500,000
Total expenditures
$2,003,653
Excess (deficiency) of revenues over
(under) expenditures
($1,565,650)
Other financing sources (uses):
General obligation bonds
Special assessment bonds
$0
$0
Total other financing sources
$0
Excess (deficiency) of revenues and
sources over (under) expenditures and
other uses
Beginning fund balance
($1,565,650)
$1,500,000
Ending fund balance
($65,650)
Community Facilities Districts are formulated under the Comminity Facilities Act Legislation adopted by the
State Legislature in 1988. The formulation of facility districts may result in the levy of ad valorem taxes to
finance public infrastructure and enhanced municipal services.
On August 12, 2004, the Town Council adopted Resolution No. 1294 forming the Quailwood Meadows
Community Facilities District (District). On August 12, 2004, the District Board adopted Resolution No. 1
which organized the District and set an election for October 12, 2004, to consider whether to (a) issue and
sell general obligation bonds of the District for public infrastructure in a maximum amount of $25,000,000,
payable from an ad valorem tax ($3.00 per $100 secondary assessed valuation) against real and personal
property located in the District (see legal description of property), and (b) levy an ad valorem tax on real and
personal property in the District not in excess of .30 per $100 of secondary assessed valuation for District
operation and maintenance.
Page 1 of 3
Quailwood Meadows Community Facilities District
Fiscal year 2005-06 Annual Budget
Personnel Services
$10,750
Professional and contractual services
$9,500
Printing, binding and other services
$0
Insurance
$0
Miscellaneous
$6,000
Replacement Reserve set aside
Debt service
$69,400
$408,003
Capital improvements:
Balance of proceeds
Machinery and equipment purchased by
the Town for the CFD
Total appropriations
$1,500,000
$0
$2,003,653
Page 2 of 3
Quailwood Meadows Community Facilities District
Fiscal year 2005-06 Annual Budget
Personnel Services
Accounting and auditing services
$2,763
Engineering services
$1,868
Attorney and legal services
$1,821
District Manager
$1,888
District Clerk
$705
District Treasurer
$1,099
CFD Administration
$605
Total Personnel Services
$10,750
Professional and other contracted services
Landscaping services
$7,000
General Street Maintenance
$2,500
Consultants
Total Consultants
$0
$9,500
Printing, binding and other services
Photocopy and microfilming
$0
Legal advertising
$0
Recording costs
$0
Total Printing, binding and other services
$0
Insurance
Insurance and bonds
$0
Total Insurance
$0
Miscellaneous
Miscellaneous supplies
$0
Miscellaneous services - Utility
$6,000
Total Miscellaneous
$6,000
Replacement Reserve set aside
$69,400
Total proposed budget
$95,650
Page 3 of 3