C.1 Copper Mountain Ranch CFD - June 20, 2016 District Clerk

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1 PUBLIC NOTICE COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT BOARD MEETS MONDAY, JUNE 19, :45 P.M. COUNCIL CHAMBERS 510 E. FLORENCE BOULEVARD AGENDA: A. Call to Order B. Roll Call C. Minutes: C.1 Copper Mountain Ranch CFD - June 20, 2016 District Clerk D. Consent Agenda: E. Unfinished Business: F. New Business: F.1 Consider Resolution No. 78, Adopting the Tentative Estimates of the Amount Required for the Public Expense for the Copper Mountain Ranch Community Facilities District for the Fiscal Year ; Adopting a Tentative Budget Setting Forth the Receipts and Expenditures, the Amounts Actually Levied, and the Amounts Estimated as Collectible for the Previous Fiscal Year and the Amount Proposed to be Raised By Direct Property Taxation for the Various Purposes; and Giving Notice of the Time for Hearing Taxpayers for Adopting of Budget and for Fixing the Tax Levies District Treasurer G. Miscellaneous: H. Adjournment Posted on June 15, 2017, by 7:00 p.m. at the below locations: City Hall 510 E. Florence Blvd. Casa Grande, Arizona Police Dispatch 520 N. Marshall Casa Grande, Arizona City Website Gloria Leija, MMC District Clerk Disabled individuals with special accessibility needs may contact ADA Coordinator for the City of Casa Grande at or TDD If possible, such requests should be made 72 hours in advance.

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3 CFD Copper Mountain Ranch C.1 Meeting Date: 06/19/2017 Recommended by: Anna Guerra, Deputy City Clerk Prepared by: Anna Guerra, Deputy City Clerk Subject: Copper Mountain Ranch CFD - June 20, 2016 CMR_Minutes_ Attachments

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5 MINUTES OF THE MEETING OF THE COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT BOARD OF THE CITY OF CASA GRANDE HELD IN THE COUNCIL CHAMBERS 510 E. FLORENCE BLVD., CASA GRANDE, AZ MONDAY, JUNE 20, 2016 A. Call to Order Chairman Jackson called the meeting to order at 6:30 p.m. B. Roll Call Present: Ralph Varela, Member Lisa Fitzgibbons, Member Matthew Herman, Member Mary Kortsen, Member Dick Powell, Member Karl Montoya, Vice Chairman Robert Jackson, Chairman Also Present: Larry Rains, District Manager Remilie S. Miller, District Clerk Brett Wallace, District Counsel Celina Morris, District Treasurer William Schwind, Community Services Director Mark McCrory, Police Chief Paul Tice, Planning & Development Director Scott Miller, Fire Chief Dawn Jett, Human Resources Director Kevin Louis, Public Works Director C. Minutes: Member Powell moved to approve the minutes dated June 6, Member Montoya seconded the motion and was carried with a 7-0 voice vote. D. Consent Agenda: None

6 E. Unfinished Business: None F. New Business: F.1 Public Hearing Resolution No. 76 Adoption of the Fiscal Year Budget for Copper Mountain Ranch Community Facilities District District Treasurer Morris recommended that the Board hold a public hearing on FY2017 Budget and proposed Tax Levy, and adopt a resolution establishing the FY2017 Final Budget for the Copper Mountain Ranch Community Facilities District. A separate Request for Council Action asking for approval of the tax levy on agenda for consideration. Treasurer Morris reported that the Copper Mountain Ranch Community Facilities District Budget is specifically designed to pay existing debt service, expenditures of the district, and to program reserves. Included as part of this budget, is a continuation of the existing $0.30 property tax rate. As no debt has been issued, this tax includes an operational component ($0.30) and no General Obligation Bond component ($0.00). Treasurer Morris conveyed that the forms represent all of the information that has been presented to the Board and will be the adopted budget and expenditure limitation for FY2017. The required notice has been published in the local paper as specified and the Board is being asked to adopt them as final. A separate action is scheduled for consideration tonight to establish the tax rate. Treasurer Morris stated that the adoption of the Budget establishes the spending plan for the following fiscal year. No expenditure of funds may take place that is not in conformance with the adopted budget. Chairman Jackson declared a public hearing to allow comments on this matter. There being no comments, Chairman Jackson declared the public hearing closed. District Clerk Miller read by title only Resolution No. 76, Adopting the Budget for the Fiscal Year

7 Moved by Member Matthew Herman, seconded by Member Ralph Varela to approve Resolution No. 76. AYE: Member Ralph Varela Member Lisa Fitzgibbons Member Matthew Herman Member Mary Kortsen Member Dick Powell Vice Chairman Karl Montoya Chairman Robert Jackson Chairman Jackson then declared Resolution No. 76 passed and adopted. F.2 Resolution No. 77 Adopting the Fiscal Year Property Tax Levy and Establishing a Primary Tax Rate of the Copper Mountain Ranch Community Facilities District District Treasurer Morris recommended that the Board adopt a resolution establishing the Fiscal Year 2017 property tax rate at $0.30 per $100 of assessed valuation for the Copper Mountain Ranch Community Facilities District. Treasurer Morris reported that the Copper Mountain Ranch Community Facilities District Budget is specifically designed to pay existing debt service, expenditures of the district and to program reserves. All expenditures of the district are intended to be paid by the property tax. This action is a continuation of the existing $0.30 property tax rate. The tax rate includes an operational component ($0.30) and a General Obligation Bond component ($0.00). It is the intent of this action to adopt the rate and collect the corresponding estimated tax levy. Adoption of the resolution directs Pinal County to collect the $0.30 rate and adjust the estimated levy as appropriate. Treasurer Morris reported that a public hearing has been held and the required notice has been published in the local paper as specified. This action will establish the tax rate for the District for Fiscal Year Treasurer Morris stated that revenues of the District are directly dependent upon the adoption of the tax rate and corresponding tax levy.

8 District Clerk Miller read by title only Resolution No. 77, Levying Upon the Assessed Valuation of the Property within Copper Mountain Ranch Community Facilities District, Casa Grande, Subject to Taxation a Certain Sum Upon Each One Hundred Dollars of Valuation Sufficient to Raise the Amount Estimated to be Required in the Annual Budget, Less the Amount Estimated to be Received from Other Sources of Revenue; Providing Funds for Various Bond Redemptions, for the Purpose of Paying Interest Upon Bonded Indebtedness; and Providing a General Fund for General District Expenses; All for the Fiscal Year Ending the 30th day of June, Moved by Member Ralph Varela, seconded by Member Mary Kortsen to approve Resolution No. 77. AYE: Member Ralph Varela Member Lisa Fitzgibbons Member Matthew Herman Member Mary Kortsen Member Dick Powell Vice Chairman Karl Montoya Chairman Robert Jackson Chairman Jackson then declared Resolution No. 77 passed and adopted. G. Miscellaneous: None H. Adjournment There being no further business at this time, the meeting was adjourned at 6:35 p.m. Craig H. McFarland Chairman ATTEST:

9 Gloria Leija, MMC District Clerk CERTIFICATION I hereby certify that the foregoing minutes are a true and correct copy of the minutes of the regular meeting of Copper Mountain Ranch Communities Facilities District Board of Casa Grande, Arizona held on the 20th day of June I further certify that the meeting was duly called and held and that a quorum was present. Dated this 19th day of June, 2017 Gloria Leija, MMC District Clerk

10 CFD Copper Mountain Ranch F.1 Meeting Date: 06/19/2017 Recommended by: Celina Morris, Finance Director Prepared by: Jeffrey Graves, Budget Analyst Finance Director Review: Celina Morris City Attorney Review: Brett Wallace Approved by: Larry Rains Date Submitted: 05/25/2017 Type of Action Requested: Resolution SUBJECT: Adoption of the FY 2018 Tentative Budget for the Copper Mountain Ranch Community Facilities District RECOMMENDATION: Approve Resolution adopting the tentative budget and establishing the expenditure limitation for fiscal year DISCUSSION: The Copper Mountain Ranch Community District Budget is specifically designed to pay existing debt service, expenditures of the district and to program reserves. Included as part of this budget, is a continuation of the existing $0.30 property tax rate. This tax includes an operational component ($0.30) and a General Obligation Bond component ($0.00). There is no debt outstanding on this District and the operational rate does not cover district expenses. Any Shortfalls are reimbursed from the developer. Actual expenditures and additional budget authority is included in the event the district activity increases. If additional costs are incurred the Developer will be responsible to reimburse the district for those costs. The attached forms represent all of the information that has been presented to the Board and will be the adopted budget and expenditure limitation for FY Required forms shall be published in the local paper as specified and the Board will be asked to adopt them as Final on July 17, 2017 as well as establish the tax rate. Adoption of the Tentative budget establishes the expenditure limitation for the fiscal year, the final budget may be adopted at a lesser amount but may not be increased above the limit established by this action. FISCAL IMPACT: Adoption of the annual budget establishes the spending plan for the following fiscal year. No expenditure of funds may occur that is not in compliance with the adopted budget. ALTERNATIVES: N/A Resolution No. 78 Attachments

11 CMR _ Exhibit A FY 2018 CFD Budget CMR - Exhibit B FY2018 AG Forms Copper Mountain Ranch - Exhibit C NOTICE OF FILING STATEMENTS AND ESTIMATES AND NOTICE OF PUBLIC HEARING PowerPoint for all CFDs

12 RESOLUTION NO. 78 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT, CASA GRANDE, ARIZONA, ADOPTING THE TENTATIVE ESTIMATES OF THE AMOUNT REQUIRED FOR THE PUBLIC EXPENSE FOR THE COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT FOR THE FISCAL YEAR ; ADOPTING A TENTATIVE BUDGET SETTING FORTH THE RECEIPTS AND EXPENDITURES, THE AMOUNTS ACTUALLY LEVIED, AND THE AMOUNTS ESTIMATED AS COLLECTIBLE FOR THE PREVIOUS FISCAL YEAR AND THE AMOUNT PROPOSED TO BE RAISED BY DIRECT PROPERTY TAXATION FOR THE VARIOUS PURPOSES; AND GIVING NOTICE OF THE TIME FOR HEARING TAXPAYERS FOR ADOPTING OF BUDGET AND FOR FIXING THE TAX LEVIES. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT, CASA GRANDE, ARIZONA, as follows: Section 1. Authorization for Adoption That the statements and schedules hereinafter set forth are adopted as the tentative budget for the Copper Mountain Ranch Community Facilities District for the Fiscal Year Section 2. Authorization for Publication of Estimates and Notice That the District Clerk be, and hereby is, authorized and directed to publish in the manner prescribed by law the estimates of expenditures, as hereinafter set forth, together with a notice that the Board of Directors will meet for the purpose of final hearing of taxpayers and for adoption of the Annual Budget for the Copper Mountain Ranch Community Facilities District on the 17 th day of July, 2017 at 6:30 p.m. in the Casa Grande Council Chambers in Casa Grande City Hall. A notice shall also be published that the Board of Directors will meet for the purpose of adoption of the Tax Levy for the Copper Mountain Ranch Community Facilities District, Casa Grande, Arizona, on the 17 th day of July, 2017 at 6:30 p.m. in the Casa Grande Council Chambers in Casa Grande City Hall. Section 3. Authorization for Contingency Expenditures Upon the recommendation by the District Manager and with the approval of the Board of Directors, expenditures may be made from the appropriation for contingencies. The transfers of any sums within any specific appropriation may be made only upon the approval of the District Manager.

13 Section 4. Authorization for Use of Funds Money from any fund may be used for any of these appropriations except money specifically restricted by State Law or by District Resolution. Section 5. Statements and Schedules of the Tentative Budget The statements and schedules of the tentative budget are attached hereto and by reference made a part hereof. PASSED AND ADOPTED by the Board of Directors of the Copper Mountain Ranch Community Facilities District, Casa Grande, Arizona, this 19 th day of June, ATTEST: Chairman, Copper Mountain Ranch CFD District Clerk APPROVED AS TO FORM: District Counsel

14 FIN R-FY Tentative Annual Budget for CMR CFD

15 City of Casa Grande, Arizona Copper Mountain Ranch Community Facilities District FY2018 Annual Budget REVENUES ACTUAL BUDGET FORECAST BUDGET FY2016 FY2017 FY2017 FY2018 Property Tax 3,320 3,000 3,000 3,000 Total Revenues 3,320 3,000 3,000 3,000 EXPENDITURES Personal Services/General Fund 2,000 2, ,000 Licenses/Permits/Fees/Taxes 12 Contractual Services CIP/Capital Reserves 35,400 35,400 Debt Principal Debt Interest Total Expenditures 2,012 37, ,400 Excess (Deficiency) of Revenues Over (Under) Expenditures 1,308 (34,400) 2,989 (34,400) Excess (Deficiency) of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses 1,308 (34,400) 2,989 (34,400) BEGINNING FUND BALANCE 33,379 34,687 34,687 37,700 ENDING FUND BALANCE 34, ,676 3,300

16 OFFICIAL BUDGET FORMS COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Fiscal Year 2018

17 COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT TABLE OF CONTENTS Fiscal Year 2018 Resolution for the Adoption of the Budget Schedule A Summary Schedule of Estimated Revenues and Expenditures/Expenses Schedule B Tax Levy and Tax Rate Information Schedule C Revenues Other Than Property Taxes Schedule D Other Financing Sources/<Uses> and Interfund Transfers Schedule E Expenditures/Expenses by Fund Schedule F Expenditures/Expenses by Department (as applicable) Schedule G Full-Time Employees and Personnel Compensation

18 COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Summary Schedule of Estimated Revenues and Expenditures/Expenses Fiscal Year 2018 Fiscal Year S c h General Fund Special Revenue Fund Debt Service Fund FUNDS Capital Projects Fund Permanent Fund Enterprise Funds Available Internal Service Funds Total All Funds 2017 Adopted/Adjusted Budgeted Expenditures/Expenses* E , , Actual Expenditures/Expenses** E , , Fund Balance/Net Position at July 1*** 34,687 34, Primary Property Tax Levy B 0 3,000 3, Secondary Property Tax Levy B Estimated Revenues Other than Property Taxes C Other Financing Sources D Other Financing (Uses) D Interfund Transfers In D Interfund Transfers (Out) D Reduction for Amounts Not Available: LESS: Amounts for Future Debt Retirement: Total Financial Resources Available , , Budgeted Expenditures/Expenses E , ,400 EXPENDITURE LIMITATION COMPARISON Budgeted expenditures/expenses $ 37,400 $ 37, Add/subtract: estimated net reconciling items 3. Budgeted expenditures/expenses adjusted for reconciling items 37,400 37, Less: estimated exclusions 5. Amount subject to the expenditure limitation $ 37,400 $ 37, EEC expenditure limitation $ $ * Includes Expenditure/Expense Adjustments Approved in the current year from Schedule E. ** Includes actual amounts as of the date the proposed budget was prepared, adjusted for estimated activity for the remainder of the fiscal year. *** Amounts on this line represent Fund Balance/Net Position amounts except for amounts not in spendable form (e.g., prepaids and inventories) or legally or contractually required to be maintained intact (e.g., principal of a permanent fund). SCHEDULE A

19 1. COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Tax Levy and Tax Rate Information Fiscal Year 2018 Maximum allowable primary property tax levy. A.R.S (A) $ $ 2. Amount received from primary property taxation in the current year in excess of the sum of that year's maximum allowable primary property tax levy. A.R.S (A)(18) $ 3. Property tax levy amounts A. Primary property taxes $ 3,000 $ 3,000 B. Secondary property taxes C. Total property tax levy amounts $ 3,000 $ 3, Property taxes collected* A. Primary property taxes (1) Current year's levy $ (2) Prior years levies (3) Total primary property taxes $ B. Secondary property taxes (1) Current year's levy $ (2) Prior years levies (3) Total secondary property taxes $ C. Total property taxes collected $ 5. Property tax rates A. City/Town tax rate (1) Primary property tax rate (2) Secondary property tax rate (3) Total city/town tax rate B. Special assessment district tax rates Secondary property tax rates - As of the date the proposed budget was prepared, the city/town was operating special assessment districts for which secondary property taxes are levied. For information pertaining to these special assessment districts and their tax rates, please contact the city/town. * Includes actual property taxes collected as of the date the proposed budget was prepared, plus estimated property tax collections for the remainder of the fiscal year. SCHEDULE B

20 COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Revenues Other Than Property Taxes Fiscal Year 2018 GENERAL FUND Local taxes SOURCE OF REVENUES ESTIMATED ACTUAL ESTIMATED REVENUES REVENUES* REVENUES Licenses and permits Intergovernmental Charges for services Fines and forfeits Interest on investments In-lieu property taxes Contributions Voluntary contributions Miscellaneous Total General Fund * Includes actual revenues recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated revenues for the remainder of the fiscal year. SCHEDULE C

21 COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Revenues Other Than Property Taxes Fiscal Year 2018 SOURCE OF REVENUES SPECIAL REVENUE FUNDS ESTIMATED ACTUAL ESTIMATED REVENUES REVENUES* REVENUES Total Special Revenue Funds * Includes actual revenues recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated revenues for the remainder of the fiscal year. SCHEDULE C

22 COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Revenues Other Than Property Taxes Fiscal Year 2018 DEBT SERVICE FUNDS SOURCE OF REVENUES ESTIMATED ACTUAL ESTIMATED REVENUES REVENUES* REVENUES Total Debt Service Funds CAPITAL PROJECTS FUNDS Total Capital Projects Funds * Includes actual revenues recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated revenues for the remainder of the fiscal year. SCHEDULE C

23 COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Revenues Other Than Property Taxes Fiscal Year 2018 PERMANENT FUNDS SOURCE OF REVENUES ESTIMATED ACTUAL ESTIMATED REVENUES REVENUES* REVENUES ENTERPRISE FUNDS Total Permanent Funds Total Enterprise Funds * Includes actual revenues recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated revenues for the remainder of the fiscal year. SCHEDULE C

24 COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Revenues Other Than Property Taxes Fiscal Year 2018 SOURCE OF REVENUES INTERNAL SERVICE FUNDS ESTIMATED ACTUAL ESTIMATED REVENUES REVENUES* REVENUES Total Internal Service Funds TOTAL ALL FUNDS * Includes actual revenues recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated revenues for the remainder of the fiscal year. SCHEDULE C

25 GENERAL FUND COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Other Financing Sources/<Uses> and Interfund Transfers Fiscal Year 2018 OTHER FINANCING INTERFUND TRANSFERS FUND SOURCES <USES> IN <OUT> $ SPECIAL REVENUE FUNDS Total General Fund $ $ Total Special Revenue Funds $ DEBT SERVICE FUNDS $ Total Debt Service Funds $ CAPITAL PROJECTS FUNDS $ Total Capital Projects Funds $ PERMANENT FUNDS $ ENTERPRISE FUNDS Total Permanent Funds $ $ INTERNAL SERVICE FUNDS Total Enterprise Funds $ $ Total Internal Service Funds $ TOTAL ALL FUNDS $ SCHEDULE D

26 COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Expenditures/Expenses by Fund Fiscal Year 2018 FUND/DEPARTMENT GENERAL FUND ADOPTED BUDGETED EXPENDITURES/ EXPENSES EXPENDITURE/ EXPENSE ADJUSTMENTS APPROVED ACTUAL EXPENDITURES/ EXPENSES* BUDGETED EXPENDITURES/ EXPENSES $ SPECIAL REVENUE FUNDS Total General Fund $ $ Total Special Revenue Funds $ DEBT SERVICE FUNDS $ Total Debt Service Funds $ CAPITAL PROJECTS FUNDS Copper Mountain Ranch - CFD $ 37,400 $ $ 2,000 $ 37,400 Total Capital Projects Funds $ 37,400 $ $ 2,000 $ 37,400 PERMANENT FUNDS $ Total Permanent Funds $ ENTERPRISE FUNDS $ Total Enterprise Funds $ INTERNAL SERVICE FUNDS $ * Total Internal Service Funds $ TOTAL ALL FUNDS $ 37,400 $ $ 2,000 $ 37,400 Includes actual expenditures/expenses recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated expenditures/expenses for the remainder of the fiscal year. SCHEDULE E

27 DEPARTMENT/FUND COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Expenditures/Expenses by Department Fiscal Year 2018 ADOPTED BUDGETED EXPENDITURES/ EXPENSES EXPENDITURE/ EXPENSE ADJUSTMENTS APPROVED ACTUAL EXPENDITURES/ EXPENSES* BUDGETED EXPENDITURES/ EXPENSES Copper Mountain Ranch/CFD $ 37,400 $ $ 2,000 $ 37,400 List Department: Department Total $ 37,400 $ $ 2,000 $ 37,400 $ List Department: Department Total $ $ Department Total $ * Includes actual expenditures/expenses recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated expenditures/expenses for the remainder of the fiscal year. SCHEDULE F

28 COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT Full-Time Employees and Personnel Compensation Fiscal Year 2018 FUND GENERAL FUND Full-Time Equivalent (FTE) Employee Salaries and Hourly Costs Retirement Costs Healthcare Costs Other Benefit Costs Total Estimated Personnel Compensation $ $ SPECIAL REVENUE FUNDS Copper Mountain Ranch - CFD $ $ Total Special Revenue Funds $ $ DEBT SERVICE FUNDS $ $ Total Debt Service Funds $ $ CAPITAL PROJECTS FUNDS $ $ Total Capital Projects Funds $ $ PERMANENT FUNDS $ $ Total Permanent Funds $ $ ENTERPRISE FUNDS $ $ Total Enterprise Funds $ $ INTERNAL SERVICE FUND $ $ Total Internal Service Fund $ $ TOTAL ALL FUNDS $ $ SCHEDULE G

29 COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT NOTICE OF FILING STATEMENTS AND ESTIMATES AND NOTICE OF PUBLIC HEARING NOTICE OF FILING STATEMENTS AND ESTIMATES OF THE OPERATION AND MAINTENANCE EXPENSES OF THE COPPER MOUNTAIN RANCH COMMUNITY FACILITIES DISTRICT, THE COSTS OF CAPITAL IMPROVEMENTS TO BE FINANCED BY THE AD VALOREM TAX LEVY, AND THE AMOUNT OF ALL OTHER EXPENDITURES FOR PUBLIC INFRASTRUCTURE AND ENHANCED MUNICIPAL SERVICES PROPOSED TO BE PAID FROM THE TAX LEVY AND OF THE AMOUNT TO BE RAISED TO PAY GENERAL OBLIGATION BONDS OF THE DISTRICT; AND NOTICE OF A PUBLIC HEARING ON THE PROPOSED FISCAL YEAR BUDGET OF THE DISTRICT, INCLUDING A HEARING ON THOSE PORTIONS OF THE STATEMENTS AND ESTIMATES NOT RELATING TO DEBT SERVICE ON GENERAL OBLIGATION BONDS. Notice is hereby given that statements and estimates have been filed in the Office of the District Clerk of the Copper Mountain Ranch Community Facilities District of the operation and maintenance expenses of the District, the costs of capital improvements to be financed by the voter-approved ad valorem tax levy, and the amount of all other expenditures for public infrastructure and enhanced municipal services proposed to be paid from the tax levy and of the amount to be raised to pay general obligation bonds of the District, all of which shall be provided for by the levy and collection of ad valorem taxes on the assessed value of all the real and personal property in the District. Notice is further given of a public hearing on the proposed Fiscal Year budget of the District, including (but not limited to) a hearing on those portions of the statements and estimates not relating to debt service on general obligation bonds, all pursuant to Arizona Revised Statutes and Such hearing will be held by the District Board on July 17, 2017, at or after 6:30 p.m. at the City of Casa Grande Council Chambers 510 E. Florence Blvd., Casa Grande, Pinal County, Arizona. Copies of the budget are available from the Office of the District Manager, 510 E. Florence Blvd., Casa Grande, Arizona 85122, telephone number: (520) Dated this day of Published:, District Manager, Copper Mountain Ranch Community Facilities District

30 Community Facilities Districts FY2018 Tentative Budgets 1

31 FY2018 Tentative Budget Copper Mountain Ranch Tax Rate - $0.30 2

32 FY2018 Tentative Budget Mission Royale Tax Rate - $1.30 REVENUES ACTUAL BUDGET FORECAST BUDGET FY2016 FY2017 FY2017 FY2018 Property Tax 227, , , ,100 Total Revenues 227, , , ,100 EXPENDITURES Bank Charges & Fees 2,500 3,000 2,500 3,000 Other Contractual Services 12,015-1,000 - Transfer Out 47,500 47,500-47,500 Traffic Signal - Hacienda & Florence Blvd 4, ,200 16, ,600 Debt - Principal 655, ,900 50,000 55,000 Debt - Interest 51,443 57,500 12,004 21,000 Total Expenditures 772, ,100 82, ,100 Excess (Deficiency) of Revenues Over (Under) Expenditures (545,752) (489,500) 149,754 (216,000) Excess (Deficiency) of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses (545,752) (489,500) 149,754 (216,000) BEGINNING FUND BALANCE 1,046, , , ,400 ENDING FUND BALANCE 500,632 11, , ,400 3

33 FY2018 Tentative Budget Post Ranch Tax Rate - $0.30 REVENUES ACTUAL BUDGET FORECAST BUDGET FY2016 FY2017 FY2017 FY2018 Property Tax Reimbursement from Developer's - 29,800-29,800 Proceeds from Obligations ,000,000 Total Revenues , ,030,000 EXPENDITURES Personal Services/General Fund Contractual Services - 29,800-29,800 CIP/Capital Reserves ,000,000 Total Expenditures ,000-10,030,000 Excess (Deficiency) of Revenues Over (Under) Expenditures Excess (Deficiency) of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses BEGINNING FUND BALANCE ENDING FUND BALANCE

34 FY2018 Tentative Budget Villago Tax Rate - $2.30 5

35 What s Next Tentative Budget Adoption - June 19 Publish in paper and on Website Final Budget Adoption - July 17 Public Hearing on Budget & Tax Levy Property Tax Levy Adoption - August 7 or 14 (depending on levy adopted) 6