Financial Report - Moreno Valley

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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 $ 166,892,723 Amounts reported for governmental activities in the statement of net assets are different because: Capital assets net of depreciation have not been included as financial resources in governmental fund activity. Capital Assets (excludes internal service capital assets) 1,112,386,944 Accumulated depreciation (excludes internal service accumulated depreciation (290,848,431) Bond issuance cost is an expenditure in the governmental funds, but it is a deferred charge in the statement of net assets. 139,972 Long-term debt and compensated absences that have not been included in the governmental fund activity: 2007 Towngate Special Tax Refunding Bonds $ (8,860,000) 2007 Towngate Improvement Tax Refunding (3,470,000) Auto Mall Special Tax Bonds 2011 Private Placement Refunding, Series 1997 (1,325,000) Variable Rate Certificates of Participation (4,343,500) Lease Revenue Bonds, 2005 2011 Private Placement Refunding, Series 1997 (39,660,000) Variable Rate Certificates of Participation (3,272,000) Notes Payable, Price Company (1,736,067) RDA-2007 Tax Allocation Bonds Series A (42,475,000) (105,141,567) Compensated Absences (4,686,168) Accrued interest payable for the current portion of interest due on Bonds has not been reported in the governmental funds. (1,275,589) Revenues reported as deferred revenue in the governmental funds and recognized in the Statement of Activities. These are included in the intergovernmental revenues in the governmental fund activity. 30,747,449 Internal service funds are used by management to charge the costs of certain activities, such as equipment management and self-insurance, to individual funds. The assets and liabilities of the internal service funds must be added to the statement of net assets. 40,255,865 Net assets of governmental activities $ 948,471,198 See Notes to Financial Statements 23
City of Moreno Valley Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds Year Ended June 30, 2011 General CSD Zones Revenues: Taxes: Property taxes $ 9,430,846 3,237,015 Property taxes in lieu 13,055,796 - Utility taxes 15,317,439 - Sales taxes 11,283,435 - Other taxes 7,209,262 1,013,881 Licenses and permits 1,532,514 - Intergovernmental 895,366 74,097 Charges for services 7,408,607 11,171,945 Use of money and property 3,886,420 614,940 Fines and forfeitures 791,497 42,302 Miscellaneous 682,959 63,102 Total Revenues 71,494,141 Capital Projects Fund Community Redevelopment Agency Capital Projects $ $ - $ 3,522,959 - - - - - - - - - - - - 1,137,877 - 412,081 838,385 - - - 159,106 16,217,282 Expenditures: Current: General government 9,592,027 - Public safety 57,288,473 - Community development 4,235,300 - Community and cultural - 16 16,293,348 293 348 Public works 3,413,488 - Capital outlay Debt service: 56,406 18,247 Principal retirement - - Interest and fiscal charges - - Total Expenditures 74,585,694 Excess (Deficiency) of Revenues Over (Under) Expenditures (3,091,553) Other Financing Sources (Uses): Transfers in (note 7) 773,051 Transfers out (note 7) (2,605,518) Refunding bonds issued - Refunding bonds issuance cost - Total Other Financing Sources (Uses) (1,832,467) Net Change in Fund Balances (4,924,020) Fund Balances, Beginning of Year, as previously reported 51,289,539 Restatements (note 10) - Fund Balances, Beginning of Year, as restated 51,289,539 Special Revenue Funds 16,311,595 (94,313) 1,587,244 - - - 1,587,244 1,492,931 7,483,577 - 7,483,577 Development Impact Fees 1,549,958 - - - - - - - - - 1,549,958 - (4,084,493) - - (4,084,493) (2,534,535) 21,967,051 - 21,967,051 4,520,450 1,244,090 - 8,119,944 - - - - - 9,364,034 (4,843,584) 595,863 - - - 595,863 (4,247,721) 71,307,582 - 71,307,582 Fund Balances, End of Year $ 46,365,519 $ 8,976,508 $ 19,432,516 $ 67,059,861 See Notes to Financial Statements 24
Page 1 and 2: Comprehensive Annual Financial Repo
Page 3 and 4: INTRODUCTORY SECTION City of Moreno
Page 5 and 6: City of Moreno Valley Comprehensive
Page 7: Introductory Section
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Page 12: City of Moreno Valley Organization
Page 15 and 16: Brandon W. Burrows, CPA David E. Ha
Page 17 and 18: Management’s Discussion and Analy
Page 19 and 20: Fiduciary funds. Fiduciary funds ar
Page 21 and 22: Charges for services increased $4.5
Page 23 and 24: Millions As illustrated in the Tabl
Page 25 and 26: At June 30, 2011, the City’s busi
Page 27: While new office and industrial dev
Page 30 and 31: City of Moreno Valley Statement of
Page 32: Net (Expenses) Revenues and Changes
Page 35 and 36: City of Moreno Valley Balance Sheet
Page 40 and 41: Debt Service Fund Community Redevel
Page 42 and 43: Revenues: Taxes: City of Moreno Val
Page 44: City of Moreno Valley Budgetary Com
Page 47 and 48: Assets: Current: Governmental Activ
Page 53 and 54: City of Moreno Valley Notes to Fina
Page 63 and 64: Note 3: Cash and Investments (Conti
Page 65 and 66: Note 3: Cash and Investments (Conti
Page 67 and 68: Note 5: Capital Assets (Continued)
Page 69 and 70: Note 6: Long Term Debt (Continued)
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City of Moreno Valley Notes to Fina
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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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City of Moreno Valley Budgetary Com
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Expenditures Current: City of Moren
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Revenues: Taxes: City of Moreno Val
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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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186 City of Moreno Valley Changes i
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188 City of Moreno Valley Key Reven
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190 City of Moreno Valley Property
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192 City of Moreno Valley Property
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194 City of Moreno Valley Legal Deb
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196 City of Moreno Valley Ratio of
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198 City of Moreno Valley Demograph
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City of Moreno Valley Full-time and
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City of Moreno Valley Operating Ind
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COMMUNITY REDEVELOPMENT AGENCY OF T
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Brandon W. Burrows, CPA David E. Ha
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Brandon W. Burrows, CPA David E. Ha
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Governmental Activities Assets: Poo
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Community Redevelopment Agency of t
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Community Redevelopment Agency of t
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COMMUNITY REDEVELOPMENT AGENCY CITY
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Tax Increment Fund 2007 TABS, Serie
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Tax 2007 TABS, 2007 Tabs, Increment
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Community Services District City of
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FINANCIAL SECTION City of Moreno Va
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Board of Directors City of Moreno V
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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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Note 2: Cash and Investments (Conti
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Financial Report - Moreno Valley

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