HomeMy WebLinkAboutAGENDA REPORT 1998 1216 CC REG ITEM 11D103.5
ITEM L*'D*
CITY OF'MOORPARK, CALIFORNIA
City Council Meeting
of
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MOORPARK CITY COUNCIL ACTION:
AGENDA REPORT p a r c7 V eo(
BY:.
TO: Honorable City Council
FROM: John E. Nowak, Assistant City Manager
DATE: 07 December 1998 (Authority Meeting of 12- 16 -98)
SUBJECT: Consider Agreement between County of Ventura and
City of Moorpark pertaining to Distribution of
Cash and Personal Assets of the Moorpark Mosquito
Abatement District.
BACKGROUND: The Moorpark Mosquito Abatement District
(MMAD) was dissolved by action of the Ventura Local Agency
Formation Commission and the County Board of Supervisors in
July 1998. State law provides for the distribution of
MMAD's cash and personal assets between the City and the
County.
DISCUSSION: The MMAD was dissolved according to State law
in July of 1998. State law provides the formula by which
the MMAD's cash and personal assets are to be distributed
between the City of Moorpark and the County of Ventura.
Based on the proportion of the total taxable property with
the MMAD area in 1997 -98 that is within the City and the
unincorporated County area, the City of Moorpark is to
receive 91.7137% of the cash and assets and the County is
to receive 8.2863 %.
Based on the audit report, adjusted for late postings,
there was $1,58S,301.20 at the end of the fiscal year plus
4th quarter of FY 1997 -98 interest apportioned on October
19, 1998. An additional $11,207.70 is available from one -
half of the interest accrued during the 1st quarter of FY
1998 -99 and already apportioned. Of this total
$1,596,508.90 cash available, the City of Moorpark will
receive $1,464,217.28 within ten (10) days of the after the
000366
Distribution Agreement
Meeting of 16 December 1998
Page 02
execution of the Agreement and the County would receive
$132,291.52. The remainder of the 1st quarter FY 98 -99
interest ($11,207.70) will be paid around the end of
December with the City receiving $10,279.00 and the County
$928.70. Interest that is earned on the funds from October
1, 1998 until payment is made at the end of this month and
remaining interest earned on the interest held until it is
paid out, will be apportioned in the same ratio as
indicated (City - 91.7137 %, County - 8.2863 %) . Basically,
the City can anticipate receiving an additional $10,000 in
February and in March 1999 from interest earned between
October 1, 1998 and December 31, 1998; and an additional
$300 before the end of the fiscal year from the interest
earned on the second quarter interest before it was
distributed. Any residual interest will go to the County.
Upon assumption of responsibility as successor agency to
the MMAD, the City retained all personal assets of the
District. This included various fixed assets such as
office furniture and vehicles. The net depreciated fair
market value of these assets is $12,998.54. The City must
pay the County its proportional share of this value or
$1,077.10. Also, the City retained the $200 petty cash
account that MMAD had, and must pay the County its
proportional share of these funds as well, or $16.57. The
Agreement requires the City to pay the County a total of
$1,093.67 within ten (10) days of the execution of the
Agreement.
The attached Agreement contains the provisions described
above. It is scheduled to be acted upon by the County
Board of Supervisors at its December 15 meeting.
STAFF RECOMMENDATION: That the City Council approve the
Agreement for the Distribution of Cash and Personal Assets
of the Moorpark Mosquito Abatement District subject to
final language approval of the City Attorney and City
Manager, and authorize the Mayor to sign the Agreement on
behalf of the City.
Attached: Agreement
000367
DEC -10 -98 THU 9:39 VENTURA CAO LARRY SIEGEL FAX NO, 8056542895
AGREEMENT BETWEEN
COUNTY OF VENTURA and CITY OF MOORPARK
Pertaining to
DISTRIBUTION OF CASH AND PERSONAL ASSETS
of the
MOORPARK MOSQUITO ABATEMENT DISTRICT
P. 03
WHEREAS, action has been taken to dissolve the Moorpark Mosquito Abatement
District (MMAD); and the County of Ventura (County) and the City of Moorpark (City)
are interested in distribution of the remaining assets of MMAD; and
WHEREAS, pursuant to Section 57457(c)(2), the State Government Code provides that
all moneys or funds including cash on hand and money due but uncollected and all
personal property of a dissolved district be divided among and distributed to each city
or county in the proportion that the assessed value of the taxable property of the
dissolved district within the incorporated territory of each city or within the
unincorporated territory of each county shall bear to the total assessed value of all
taxable property within the dissolved district; the assessed values being those shown
upon the last equalized assessment roll upon the effective date of the dissolution; and
WHEREAS, the last equalized assessment roll on the effective date of the dissolution
is the 1997 -98 assessment roll; and
WHEREAS, based on the 1997 -98 equalized tax rolls, the proportion of assessed value
of the dissolved district related to territory within the unincorporated area of the County
is 8.2863° of the total, and the proportion of assessed value related to territory within
the City is 91.7137 %; and
WHEREAS, the City and the County have reviewed MMAD's audited financial
statement for the year ending June 30, 1998, completed by Shallenberger & Roberts,
as well as additional notes and documentation from Shallenberger & Roberts and
projected interest earnings from the Auditor Controller.
NOW, THEREFORE, due to the dissolution of the Moorpark Mosquito Abatement
District and pursuant to applicable State law, the County of Ventura and the City of
Moorpark do hereby agree to the following:
1) Attachment I titled MMAD Calculatlon of Closing Cash, Treasury Pool — October
19, 1998 reflects, "all moneys or funds including cash on hand and money due
but uncollected. and all personal property" of the dissolved MMAD. The cash
balance currently in the Treasury pool is $1,585,301.20 as reconciled on
Attachment I, The first half of the first quarter FY 98 -99 interest apportionment
will add $11,207.70 for a total to be distributed of $1,596,508,90, which shall be
paid to the parties in accordance with Attachment II, within ten days after
execution of this agreement.
000,368
�� DEC 10 '98 08:49
DEC -10 -98 THU 9:40 VENTURA CAO LARRY SIEGEL FAX NO. 8056542895
P. 04
2) Attachment II titled MMAD Calculation of Closing Cash Distribution — November
27, 1998 reflects the appropriate distribution (8.2863% County and 91.7137%
City of Moorpark) of Personal Property, Cash in the Treasury, and Other
Personal Property, as well as projected interest receivables.
3) Actual interest earned by the County Treasury pool on unapportioned MMAD
funds, including any interest earned and not paid, shall be distributed in the
same proportions as identified pursuant to Section 2. Interest receivables will be
paid to City and to County at the time of each apportionment based on the ratios
of the average daily balances and as cash is available from earnings.
4) The City of Moorpark shall pay the County of Ventura, within ten (10) days of the
execution of this Agreement, the County's cash value share of the other personal
Property identified on Attachment Il, retained from the district by the City.
5) Any interest earned on the MMAD fund during the third quarter of FY 9899
before the actual payment date of the second payment of the second quarter FY
98 -99 interest, shall be paid to City and County in accordance with Section 3;
thereafter, all interest earned shall be paid to the County.
6) This Agreement shall be effective on the date it has been signed by both parties.
COUNTY OF VENTURA CITY OF MOORPARK
Judy Mikels, Chair
Board of Supervisors
Date:
nor 1 n 9 oo no•ca
Patrick Hunter, Mayor
Date:
00b30y
DEC -10 -98 THU 9:40 VENTURA CAO LARRY SIEGEL FAX NO. 8056542895
P. 05
ATTACHMENT I
MOORPARK MOSQUITO ABATEMENT DISTRICT, VCFMS 7.370
CALCULATION OF CLOSING CASH, TREASURY POOL
October 19, 1998
Cash, June 30, 1998
County FMS and Moorpark Audited
Financial Statements (1)
Rounding
1,589,011.60
Accounts Payable
Add #2438 Ventura
(3,855.94)
Add #2443 GI Rubbish
(90.00)
(27.92)
Due to City of Moorpark
Payroll taxes payable
(18,581.27)
Add back void chk #2886
(2,645,91)
Add #2421 ED
14.01
(157.56)
Add #2423 Wells Fargo
(79.56)
Add #2424 Blue Cross
(39.41)
Add #2425 Blue Cross
(210.00)
Total Dis burs ements /Rndg
(25,673.56)
Interest Receivable, June 30, 1998
Actual Interest 41" Qtr #1
Actual interest 4`" Qtr #2
3,934.92
Deposit Misc Vendor
17,925.75
102.49
Total Receipts
21,963.16
Cash, October 19, 1998
1,585 301.20
000370
DEC 10 19B 06:50 60565428g5 pa= ac
DEC -10 -98 THU 9:41 VENTURA CAO LARRY SIEGEL FAX NO. 8056542895
W1.1
ATTACHMENT II
MOORPARK MOSQUITO ABATEMENT DISTRICT FUND 7370
CALCULATION OF CLOSING CASH DISTRIBUTION
As of November 27, 1998
PERSONAL PROPERTY
Allocation percentage 1997 -98
Equalized AV Roll (Secured/Utility)
G.C. 57457(c)(2)
CASH IN TREASURY
Cash in Treasury October 19, 1998
Qtr 1 first half interest apportionment (1)
Initial current Treasury Cash allocation
Interest Receivable for Qtr 198-99
QV 1 second half about 12/31/98
Interest receivable including estimate
OTHER PERSONAL PROPERTY
Petty Cash
Fair Value of Equipment - -net book value
Retained Moorpark/Due to County (2)
TOTAL DISTRIBUTIONS
REAL PROPERTY G.C. 57457(c)(1)
Retalned by City of Moorpark by
location at cost $53,452
RETAINED TO TO
TOTAL. BY MOORPARK COUNTY
MOORPARK
100.0000% 91.7137% 91.7137% 8.2863%
1,585,301.2
0
11, 207, 70
1,596,508.9 1,464,217.38 132,291.52
0
11,207.70 101 279.00 928.70
11,207-70 10 279.00 928,70
200.00 183.43 16.57
12,998.54 11,921.44 107710
1319854 12,104.87 0.00 109367
1,634,915.1 12,104.87 1,487,336.30 135,473.97
4
100%
53 452.00 53 452.00
(1) 1a' half Qtr 1 interest posted November 27, 1998
(2) $1,093.67 due from Moorpark to County of Ventura
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