McDowell Mountain CFD

Formed in 1994, the McDowell Mountain 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 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 for the completion of Thompson Peak Parkway and other infrastructure, such as water and sewer lines necessary for the McDowell Mountain Ranch development.

Financial Highlights

For the year ending 2022/23, the District’s:

• Tax collections and beginning fund balances were sufficient to pay expenses.
• Governmental funds reported an ending fund balance of $81,016.
• Governmental fund expenditures were more than revenue by $271.
• Significant bond indentures were satisfied and no longer applicable; debt service was paid in full June 30, 2022.

Current Fiscal Year Documents

• Receipts and Disbursements for Fiscal Year 2021/22
• Annual Financial Report for Fiscal Year Ended June 30, 2023
• Council Action Report for Resolutions 71 & 72
• District Board Meeting Minutes for June 7, 2022
• Resolution No. 71 adopting the district budget for FY2023/24
• Resolution No.72 approving a proposed district budget for FY2023/24 and ordering a hearing for such budget