Financial Report - Moreno Valley

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FINANCIAL SECTION City of Moreno Valley, California Community Services District Financial Statements Year Ended June 30, 2011 TABLE OF CONTENTS Page Number Independent Auditor’s Report .................................................................................................................. 1 BASIC FINANCIAL STATEMENTS Government-Wide Financial Statements: Statement of Net Assets ................................................................................................................... 3 Statement of Activities ....................................................................................................................... 4 Fund Financial Statements: Balance Sheet – Governmental Funds ............................................................................................. 5 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets ......................................................................................................... 7 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds ............................................................................................ 8 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ........................ 10 Budget Comparison Statements: 1. Zone L Library Services Fund ............................................................................................ 11 2. Zone A Parks and Community Services ............................................................................. 12 3. Zone E Extensive Landscaping Administration .................................................................. 13 4. CFD #1 Fund ....................................................................................................................... 14 Notes to Financial Statements ................................................................................................................ 15 SUPPLEMENTARY INFORMATION Combining Balance Sheet – Nonmajor Governmental Funds ............................................................... 22 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds .............................................................................................................................. 24 Budget Comparison Schedules: A. Zone B Residential Street Lights Administration ....................................................................... 26 B. Zone C Arterial Street Lights Administration ............................................................................. 27 C. Zone D Standard Landscaping Administration .......................................................................... 28 D. Zone M Median Fund ................................................................................................................ 29 E. Zone S Sunnymead Boulevard Maintenance ............................................................................ 30
Brandon W. Burrows, CPA David E. Hale, CPA, CFP A Professional Corporation Donald G. Slater, CPA Richard K. Kikuchi, CPA Susan F. Matz, CPA Shelly K. Jackley, CPA Bryan S. Gruber, CPA Deborah A. Harper, CPA Board of Directors City of Moreno Valley, California Community Services District INDEPENDENT AUDITOR'S REPORT We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Moreno Valley, California, Community Services District (the District), as of and for the year ended June 30, 2011, which collectively comprise the District's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the District's management. Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the District, as of June 30, 2011, and the respective changes in financial position and the respective budgetary comparison for the Zone L Library Services Fund, Zone A Parks and Community Services Fund, Zone E Extensive Landscaping Administration Fund and CFD #1 Fund, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated January 11, 2012, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the District’s financial statements as a whole. The combining statements are presented for purposes of additional analysis and are not a required part of the financial statements. These are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other Lance, Soll & Lunghard, LLP 203 North Brea Boulevard • Suite 203 • Brea, CA 92821 • TEL: 714.672.0022 • Fax: 714.672.0331 www.lslcpas.com Orange County Temecula Valley Silicon Valley
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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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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 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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Expenditures Current: City of Moren
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Expenditures: Debt service: City of
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General Liability Insurance Fund IN
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Equipment Equipment Replacement Mai
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Agency Funds
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Deposit Liability Balance Balance 7
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Vehicles Infrastructure Total $ 84,
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Statistical Section
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180 City of Moreno Valley Net Asset
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182 City of Moreno Valley Change in
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184 City of Moreno Valley Fund Bala
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Page 219 and 220: 198 City of Moreno Valley Demograph
Page 221 and 222: City of Moreno Valley Full-time and
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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 238 and 239: COMMUNITY REDEVELOPMENT AGENCY CITY
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Page 256 and 257: Community Services District City of
Page 260 and 261: Board of Directors City of Moreno V
Page 262 and 263: Functions/Programs Primary Governme
Page 264 and 265: Special Revenue Funds Nonmajor Tota
Page 266 and 267: Revenues: Taxes: City of Moreno Val
Page 268 and 269: City of Moreno Valley, California C
Page 278 and 279: Note 2: Cash and Investments (Conti
Page 288: City of Moreno Valley, California C
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Financial Report - Moreno Valley

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