Financial Report - Moreno Valley

Community Redevelopment Agency
of the City of Moreno Valley
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Assets
June 30, 2011
Fund balances of governmental funds $ 68,277,228
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets, net of depreciation, used in governmental activities are not financial resources
and, therefore, are not reported in the funds.
Capital assets not being depreciated 10,838,132
Depreciable capital assets, net of accumulated depreciation 17,216,260
Revenues in the statement of activities that do not provided current financial resources are not
reported as revenues in the statement of revenues, expenditures, and changes in fund balances.
These revenues are reported as deferred revenue in the balance sheet of governmental funds. 480,543
Accrued interest payable for the current portion of interest due on long-term liabilities
are not reported in the funds. (853,202)
Long-term liabilities are not due and payable in the current period and, therefore, are not reported
in the funds. (78,432,152)
Net assets of governmental activities $ 17,526,809
See Notes to Financial Statements 8