Financial Report - Moreno Valley

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City of Moreno Valley Direct and Overlapping Debt Fiscal Year 2010/11 Assessed Valuation $ 10,521,788,956 Redevelopment Incremental Valuation 2,006,907,043 Adjusted Assessed Valuation $ 8,514,881,913 Total Debt % City's Share of OVERLAPPING TAX AND ASSESSMENT DEBT 6/30/2011 Applicable(1) Debt 6/30/11 Metropolitan Water District $ 227,670,000 0.477% $ 1,085,986 Eastern Municpal Water District I.D. No U-22 4,531,000 100. 4,531,000 Riverside Community College District 236,720,387 14.766 34,954,132 Moreno Valley Unified School District 44,163,521 92.260 40,745,264 San Jacinto Unified School District 44,202,338 0.590 260,794 Val Verde Unified School District 41,816,948 42.638 17,829,910 Moreno Valley Unified School District Community Facilities District No. 88-1 9,185,000 100. 9,185,000 Moreno Valley Unified School District Community Facilities District No. 2002-1 7,935,000 100. 7,935,000 Moreno Valley Unified School District Community Facilities District No. 2003-1&2 10,810,000 100. 10,810,000 Moreno Valley Unified School District Community Facilities District No. 2004-1 3,090,000 100. 3,090,000 Moreno Valley Unified School District Community Facilities District No. 2004-2 5,465,000 100. 5,465,000 Moreno Valley Unified School District Community Facilities District No. 2004-3 3,945,000 100. 3,945,000 Moreno Valley Unified School District Community Facilities District No. 2004-5 4,940,000 100. 4,940,000 Moreno Valley Unified School District Community Facilities District No. 2004-6 27,460,000 100. 27,460,000 Moreno Valley Unified School District Community Facilities District No. 2005 2&3 15,295,000 100. 15,295,000 Val Verde Unified School District Community Facilities Disctrict No. 98-1 25,500,000 100. 25,500,000 Val Verde Unified School District Community Facilities Disctrict No. 2003-1 2,665,000 100. 2,665,000 Eastern Municpal Water District Community Facilities District 12,245,000 100. 12,245,000 City of Moreno Valley Community Facilities District No. 3 1,325,000 100. 1,325,000 City of Moreno Valley Community Facilities District No. 5 5,835,000 100. 5,835,000 City of Moreno Valley Community Facilities District No. 87-1 8,860,000 100. 8,860,000 City of Moreno Valley Community Facilities District No. 87-1 and I.A. No. 1 3,470,000 100. 3,470,000 TOTAL GROSS OVERLAPPING TAX AND ASSESSMENT DEBT Less: Moreno Valley Community Facilities District No. 3 & 87-1 (100% self-supporting $ 247,432,087 from tax increment revenues) 10,185,000 TOTAL NET OVERLAPPING TAX AND ASSESSMENT DEBT $ 237,247,087 OVERLAPPING OTHER DEBT Riverside County General Fund Obligations $ 696,634,853 5.822% $ 40,558,081 Riverside County Pension Obligations 366,945,000 5.822 21,363,538 Riverside County Board of Education Certificates of Participation 6,170,000 5.822 359,217 Mt. San Jacinto Community College District General Fund Obligations 12,215,000 0.018 2,199 Moreno Valley Unified School District Certificates of Participation 20,460,000 92.260 18,876,396 San Jacinto Unified School District Certificates of Participation 43,380,000 0.590 255,942 Val Verde Unified School District Certificates of Participation 84,710,000 42.638 36,118,650 City of Moreno Valley General Fund Obligations 77,200,000 100. 77,200,000 (1) TOTAL GROSS DIRECT AND OVERLAPPING GENERAL FUND DEBT $ 194,734,023 Less: Riverside County self-supporting obligations 803,621 TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND DEBT $ 193,930,402 GROSS COMBINED TOTAL DEBT 442,166,110 NET COMBINED DEBT $ 431,177,489 Notes: (1) Percentage of each overlapping agencies assessed valuation located within the boundaries of the city. (2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and tax allocation bonds and non-bonded capital lease obligations Ratios to FY 2010-11 Assessed Valuation: Total Gross Overlapping Tax and Assessment Debt 2.35% Total Net Overlapping Tax and Assessment Debt 2.25% Ratios to Adjusted Assessed Valuation: Combined Direct Debt ($77,200,000) 0.91% Gross Combined Total Debt 5.19% Net Combined Total Debt 5.06% State School Building Aid Repayable as of 6/30/11 $ - AB: ($450) Source: California Municipal Statistics 193 $ (2)
194 City of Moreno Valley Legal Debt Margin Last Five Fiscal Years (dollars in thousands) Legal Debt Margin Calculation for Fiscal Year 2011 Assessed Value $ 10,366,869 Debt Limit (15% of assessed value) 1,555,030 Debt applicable to limit: - Total net debt applicable to limit $ - Fiscal Year (1) 2007 2008 2009 2010 2011 Assessed Valuation (in thousands) $ 11,220,188 $ 13,374,229 $ 13,375,965 $ 10,862,814 $ 10,366,869 Conversion percentage 25% 25% 25% 25% 25% Adjusted assessed valuation (in thousands) $ 2,805,047 $ 3,343,557 $ 3,343,991 $ 2,715,704 $ 2,591,717 Debt limit percentage 15% 15% 15% 15% 15% Debt Limit (in thousands) $ 420,757 $ 501,534 $ 501,599 $ 407,356 $ 388,758 Total net debt applicable to limit $ - $ - $ - $ - $ - Legal debt margin (in thousands) $ 420,757 $ 501,534 $ 501,599 $ 407,356 $ 388,758 Total net debt applicable to the limit as a percentage of the debt limit $ - $ - $ - $ - $ - 1) GASB 44 allowed for the implementation of historical reporting on a prospective basis. The City has elected to report historical data in this manner. Source: City of Moreno Valley Finance Department County of Riverside Auditor-Controller -
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Comprehensive Annual Financial Repo
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INTRODUCTORY SECTION City of Moreno
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City of Moreno Valley Comprehensive
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Introductory Section
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iii
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City of Moreno Valley Organization
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Brandon W. Burrows, CPA David E. Ha
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Management’s Discussion and Analy
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Fiduciary funds. Fiduciary funds ar
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Charges for services increased $4.5
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Millions As illustrated in the Tabl
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At June 30, 2011, the City’s busi
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While new office and industrial dev
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City of Moreno Valley Statement of
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Net (Expenses) Revenues and Changes
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City of Moreno Valley Balance Sheet
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City of Moreno Valley Reconciliatio
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Debt Service Fund Community Redevel
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Revenues: Taxes: City of Moreno Val
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City of Moreno Valley Budgetary Com
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Assets: Current: Governmental Activ
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City of Moreno Valley Notes to Fina
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Note 3: Cash and Investments (Conti
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Note 5: Capital Assets (Continued)
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Note 6: Long Term Debt (Continued)
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Note 8: Employee Pension Plan (Cont
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Note 13: Commitments and Contingenc
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Non‐Major Governmental Funds
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NONMAJOR GOVERNMENTAL FUNDS (CONTIN
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City of Moreno Valley Combining Bal
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City of Moreno Valley Combining Sta
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Revenues: Taxes City of Moreno Vall
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City of Moreno Valley Combining Sta
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Expenditures Current: City of Moren
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Page 165 and 166: Expenditures Current: City of Moren
Page 167 and 168: City of Moreno Valley Budgetary Com
Page 171 and 172: Expenditures: Debt service: City of
Page 179 and 180: General Liability Insurance Fund IN
Page 181 and 182: Equipment Equipment Replacement Mai
Page 187 and 188: Agency Funds
Page 189 and 190: City of Moreno Valley Combining Bal
Page 191 and 192: Deposit Liability Balance Balance 7
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Page 197 and 198: Vehicles Infrastructure Total $ 84,
Page 199 and 200: Statistical Section
Page 201 and 202: 180 City of Moreno Valley Net Asset
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Page 205 and 206: 184 City of Moreno Valley Fund Bala
Page 207 and 208: 186 City of Moreno Valley Changes i
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Page 211 and 212: 190 City of Moreno Valley Property
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Page 217 and 218: 196 City of Moreno Valley Ratio of
Page 219 and 220: 198 City of Moreno Valley Demograph
Page 221 and 222: City of Moreno Valley Full-time and
Page 223 and 224: City of Moreno Valley Operating Ind
Page 225 and 226: COMMUNITY REDEVELOPMENT AGENCY OF T
Page 228 and 229: Brandon W. Burrows, CPA David E. Ha
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Page 232 and 233: Governmental Activities Assets: Poo
Page 234 and 235: Community Redevelopment Agency of t
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Page 238 and 239: COMMUNITY REDEVELOPMENT AGENCY CITY
Page 252 and 253: Tax Increment Fund 2007 TABS, Serie
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Page 256 and 257: Community Services District City of
Page 258 and 259: FINANCIAL SECTION City of Moreno Va
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Page 262 and 263: Functions/Programs Primary Governme
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Special Revenue Funds Nonmajor Tota
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City of Moreno Valley, California C
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Financial Report - Moreno Valley

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