Financial Report - Moreno Valley

City of Moreno Valley, California
Community Services District
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities
Year Ended June 30, 2011
Net change in fund balances - total governmental funds $ 1,492,931
Amounts reported for governmental activities in the statement of activities are
different because:
Governmental funds report capital outlays as expenditures. However, in the statement
of activities, the costs of those assets is allocated over their estimated useful lives
as depreciation expense. This is the amount by which capital outlays exceeded
depreciation in the current period
Capital outlay 18,247
Depreciation expense (1,931,532)
Contributions from the City of Moreno Valley 763,798
Contributions to the City of Moreno Valley (638,225)
Revenues in the statement of activities that do not provide 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. (778,695)
Change in net assets of governmental activities $ (1,073,476)
See Notes to Financial Statements 10