2011 Comprehensive Annual Financial Report - City of Moreno Valley

Total Operating Revenues 15,672,680 10,950,744
Operating Expenses:
Cost of services - 6,950,722
Depreciation expense 690,851 764,645
Electricity purchased 7,733,304 -
Services and supplies 2,663,528 -
Distribution share 2,061,010 -
Self-insurance claims and charges - 982,296
Total Operating Expenses 13,148,693 8,697,663
Operating Income (Loss) 2,523,987 2,253,081
Nonoperating Revenues (Expenses):
Interest revenue 29,540 -
Interest expense (1,659,095) -
Litigation settlement 42,710 -
Engineering plan check fees 136,441 -
Gain (loss) on disposal of capital assets - 605
Total Nonoperating
Revenues (Expenses) (1,450,404) 605
Income (Loss) Before Transfers 1,073,583 2,253,686
Transfers in (note 7) 107,841 1,174,505
Transfers out (note 7) - (1,264,325)
Changes in Net Assets 1,181,424 2,163,866
Net Assets:
City of Moreno Valley
Statement of Revenues, Expenses
and Changes in Fund Net Assets
Proprietary Funds
Year Ended June 30, 2011
Governmental
Activities-
Enterprise
Fund - Electric
Internal
Service Funds
Operating Revenues:
Sales and service charges $ 15,463,221 $ 10,928,511
Miscellaneous 209,459 22,233
Beginning of Year 8,839,920 38,091,999
End of Fiscal Year $ 10,021,344 $ 40,255,865
See Notes to Financial Statements 33