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DC Ranch CFD
Overview
Formed in 1997, the DC Ranch Community Facilities District (District) is a special purpose taxing district and separate political subdivision under Arizona statutes. As such, the District can levy taxes and issue bonds, independent of the City of Scottsdale, Arizona (City). Property owners within the District boundaries pay for District infrastructure and functions through secondary property tax assessments. City staff administers the District and the costs of their services are reimbursed by District funds. The Scottsdale City Council also serves as the District Board of Directors.
The DC Ranch Community Facilities District was formed to finance and acquire or construct amenities that are subsequently dedicated to the City for operation. The District does not own or operate infrastructure. Since formation, District bonds have been issued, and the proceeds used to acquire or construct parks, paths, trails, roads, athletic fields and related athletic field infrastructure.
Financial Highlights
For the year ending 2022/23, the District’s:
- Tax collections and beginning fund balances were sufficient to pay debt service.
- Tax rate continued to comply with the City-imposed assessment limit of $3.00 per $100 assessed valuation; the tax rate was $0.33 per $100 assessed valuation.
- Governmental funds reported a combined ending fund balance of $178,733. Of this amount, $36,128 was in the General Fund and $142,605 was in the Debt Service Fund.
- Governmental fund expenditures were more than revenues by $35,474, the tax rate decreased from $0.37 in fiscal year 2021/22 to $0.33.
- Total long-term debt decreased by $1,085,000 due to scheduled principal payments.
- Significant bond indentures were in compliance.
Upcoming Meetings
Documentation
Current Fiscal Year Documents
- Receipts and Disbursements for Fiscal Year 2022/23
- Annual Financial Report for Fiscal Year Ended June 30, 2023
- Council Action Report for Resolutions 59 & 60
- District Board Meeting Minutes for June 07, 2022
- Resolution No. 59 adopting the district budget for FY2023/24and Levying a tax
- Resolution No. 60 approving a proposed district budget for FY2023/24 and ordering a hearing for such budget