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Home My WebLink AboutAGENDA REPORT 1999 0217 CC REG ITEM 11DITEM • � • CITY OF MOORPARK, CALIFORNIA City Council Meeting of '— - _} -ck C% ACTION: Ap�w�wt'c1 �tca MOORPARK CITY COUNCIL AGENDA REPORT BY: TO: Honorable City Council FROM: John E. Nowak, Assistant City Manager DATE: 04 February 1999 (Council Meeting of 02- 17 -99) SUBJECT: Consider the FY 1997 -98 Annual Financial Report and the Single Audit Report. BACKGROUND: The City is required to conduct an annual independent audit of its financial statements and also this year to conduct a single audit due to the amount of federal funds expended. The firm of KPMG conducted both audits for the City. DISCUSSION: The firm of KPMG Peat Marwick LLP conducted the independent audits of the City of Moorpark's general financial states for the fiscal year ending June 30, 1998 and a Single Audit required under Office of Management and Budget Circular A -133 Compliance Statement. No objections were found in either report (unqualified opinion). STAFF That the City Council receive and file the City's Annual Financial Report and Single Audit Report for the year ending June 30, 1998. Attached: Annual Financial Statement Single Audit 000256 KRMG CITY OF MOORPARK, CALIFORNIA Annual Financial Report June 30, 1998 (With Independent Auditors' Report Thereon) C� N CITY OF MOORPARK, CALIFORNIA Table of Contents Independent Auditors' Report Schedule Paee General Purpose Financial Statements as of June 30, 1998 and for the year then ended: Combined Balance Sheet — All Fund Types and Account Groups 3 Combined Statement of Revenues, Expenditures and Changes in Fund Balances — All Governmental Fund Types 4 Combined Statement of Revenues, Expenditures and Changes in Fund Balances — Budget and Actual — General, Special Revenue and Certain Capital Projects Funds 5 Notes to General Purpose Financial Statements 7 Supplementary Information — Combining Financial Statements as of June 30, 1998 and for the year then ended: Special Revenue Funds: Combining Balance Sheet 1 27 Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) 2 29 Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) — Budget and Actual 3 31 Capital Projects Funds: Combining Balance Sheet 4 41 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 5 42 Statement of Revenues, Expenditures and Changes in Fund Balance — Budget and Actual — Redevelopment Capital Projects Fund Agency Fund: Statement of Changes in Assets and Liabilities C C C N 611 G>^ 6 43 7 44 x,11 Peat Marwick LLP 725 South Figueroa Street Los Angeles, CA 90017 The Honorable City Council City of Moorpark, California: Telephone 213 972 4000 Telefax 213 622 1217 INDEPENDENT AUDITORS' REPORT We have audited the accompanying general purpose financial statements of the City of Moorpark, California (City) as of June 30, 1998 and for the year then ended, as listed in the accompanying table of contents. These general purpose financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Governmental 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 general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Moorpark, California as of June 30, 1998 and the results of its operations for the year then ended in conformity with generally accepted accounting principles. In accordance with Governmental Auditing Standards, we have also issued a report dated October 23, 1998 on our consideration of the City's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. As discussed in note 1 of the notes to the financial statements, the City adopted the Governmental Accounting Standards Board Statement No. 31, "Accounting and Financial Reporting for Certain Investments and External Investment Pools," effective July 1, 1997. Also, as discussed in note 9 of the notes to the financial statements, the City adopted the Governmental Accounting Standards Board Statement No. 32, "Accounting and Financial Reporting for IRS Section 457 — Deferred Compensation," effective June 30, 1998. �'' Member arm of KVMI; Inteinatronal Also, as discussed in note 6 of the notes to the financial statements, the City adopted the Governmental Accounting Standards Board Statement No. 27, "Accounting for Pensions by Sate and Local Governmental Employees," effective June 30, 1998. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining and individual fund statements listed in the accompanying table of contents as supplementary information are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the City of Moorpark, California. Such additional financial information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated, in all material respects, in relation to the general purpose financial statements taken as a whole. October 23, 1998 C IV 2 6r -?.eat -MauUicL#p GENERAL PURPOSE FINANCIAL STATEMENTS c C� YV M� C R® M � Assets and Other Debits Cash and investments (note 3) Restricted cash and investments (note 3) Accounts and interest receivable, net (mite 13) Taxes receivable Notes receivable Due from other funds (note X) Long -term advance tit Redevc1opmer0 Agency Other assets Land held (or resale Property and cyuipmcm (note 7) Amount available for debt service Amount to be provided for retirement of general lung -term debt Told assets and tither debits Lfabihtles, Fund Balances and Other Credits Liabilities: Accounts payable and accrued liabilities Employees compensated absences payable (note 4) Deposits, principally from developers Due to other funds (note 9) Deferred revenue Long -term advance from City General Fund (note 4) Tax allocation bonds payable (none 4) Total liabilities Fund balances and other credits: Investment in general fixed assets Fund balances: Reserved A111939 activity Reserved for unpaid grants Reserved for encumbrances Reserved for receivables due alter one year, net Reserved for land held for resale Rew"ed for prepaid expenditures Reserved for debt service Reserved for low /moderate income housing (note 5) Reserved for advances tit Redevelopment Agency Reserved for park maintenance Unrcservcd: Designated (note 14) Undcsignated t Total fund balances and other credits Commitments and contingencies (notes 6. 10, 12, 15 and 16) Total liabilities, fund balances and tither credits Sec accompanying notes w general purpose financial statements. CITY OF MOORPARK, CALIFORNIA Combined Balance Sheet - All Fund Types and Account Groups June 30, 1999 with comparative total figures at June 30,19Y7 3 Account Groupa Governmental Fund T Fiduciary Genera enera Totals enera pee t ry a capital Fund T s Fixed Long-Terns (memorandum only) Fund Revenue Funds Fund Projects Funds gency tin Assets Debt 1 S (9061,292) 18,251,662 - 9,113,572 1,194,(41 - - 27,739,9143 25,499,346 - 834,293 - - - - X34,293 788.255 310,384 1,703,790 .11,429 310,924 - - - 2,326,527 3,106,525 54,425 - - 8,182 - - - 62,607 71,763 119,868 - 3,833,464 - - - 3.953,332 3,934,51X) 341.294 42,461 - - - - - 383,755 153.651 7.028,571 - - - - - - 7,028,571 6,303,202 160,935 - - - - - - 160,935 123,227 - LUX)OX) - - - - - 1,54,(8X) I,5(X),(NM) - - - - - 20,776,070 - 20,776,070 20,501,143 - - - - - - 845,722 945.722 788,255 - - - - - - 15.511,620 15,511,620 15.142,894 S 7,086,317 21,617,791 X45,722 13,256,142 1.1$4,(41 20,776,070 16,357.342 81,123,415 77,912,761 $ 44X,958 433,059 - 108,652 174,686 - - 1,165,355 2,245,026 - - - - - - 179,771 178.771 152,947 - - - 1,(X)9,355 - - 1,(X61,355 1,241,983 383,755 - - - - - 383.755 153,651 57.844 458,986 - - - - - 516,730 540,759 - - - - - - 202X,571 7112X.571 6,303,202 - - - - - 9,1S0,llix) 9,150,(%X) 9,3750X) 506.902 1,275,70) - 108,652 1.184,041 16,357,342 19,432,537 20,012.568 - - - - - 20,776,070 - 20,776.070 20,501,143 421.126 - - - - - - 421,126 225,126 23,672 - - - - - - 23,672 34,7x6 31.151 979,434 - 36,585 - - - 1,047,170 924,988 116,666 1,232,897 - 3,921,286 - - - 5.270,X49 5,982,370 I.5(X).(XX) - - - - - 1,500,8X) 1,500,1X)0 160,935 - - - - - - 160.935 123.227 - - X45,722 - - - - 845,722 7$8,255 1,145,437 - - - - - 1,145,437 974,5X3 7.029,571 - - - - - - 7.028,571 6,303,202 169,(X1) - - - - - - 1690X1 - - 1090)2 - X,497.026 - - - 8.606,029 7,371034 (1,371,(16) 15.475,311 - 692,593 - 14,796,298 13,17[.479 6,579,515 20,342,0111 945,722 11,147,490 - 20,776.070 - 61,690.879 57,81X),193 S 7,096,317 21,617,781 945,722 13,256,142 1,184,141 20,776,070 16,357.342 81,123,415 77.812.761 3 N Revenues: Property taxes Sales taxes Other taxes Motor vehicle license fees Utility franchise fees Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public safety Public services Parks and recreation Capital outlay Debt service: Principal retirement Interest and fiscal charges Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers in (note 8) Operating transfers out (note 8) Proceeds from sale of City property Proceeds from long -term advances from City General Fund Total other financing sources (uses) Excess of revenues and other sources over expen- ditures and other uses Fund balances, July I Fund balances, June 30 See accompanying notes to general purpose financial statements. CITY OF MOORPARK, CALIFORNIA Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types Year ended June 30, 1998 with comparative total figures for the year ended June 30, 1997 Governmental Fund T es Totals General Fund Revenue Funds Debt ervtce Fund aptta Projects Funds (memorandum only) 1995 19"- S 1,366,384 1,363,626 - - - 1,574,393 2,940,777 2,773,054 33,499 541,420 - - 1,363,626 1,353,619 1,219,914 - - - 574,919 555,859 762,076 - - - 1,219,914 1,129,512 324,749 - - 762,076 719,341 4,600 1,560,965 - - 65,431 324,749 1,630,996 471,493 1,667,099 101,261 1,069,026 - - 1,170,287 1,373,726 - 1,353,677 - - 1,353,677 1,432,441 419,944 320,334 72,414 - - - 114,030 320,334 606,388 40,289 900,180 106,032 503,045 2,230 933,747 - 80,936 - 471,003 108,262 1,988,731 126,792 1,984,162 498,172 16,907 - 21 515,100 367,146 6,378,553 6,195,469 80,936 2,224,878 14,879,836 14,894,713 1,076,596 3,026,724 37,313 - - 517,878 1,631,787 1,386,598 294,625 3,134,400 - - - 170,335 3,026,724 3,599,360 2,807,382 3,960,313 791,772 111,849 589,286 92,988 - 1,381,058 1,336,029 - 876,977 1,081,814 3,452,115 - - 225,000 - 225,000 215,000 - - 550,294 493,410 1,043,704 910,199 5,301,566 3,853,987 775,294 2,058,600 11,989,447 14,067,636 1,076,987 2,341,482 (694,358) 166,278 2,890,389 827,077 9,036 (370,221) 484,043 (654,468) 751,825 845,431 2,090,335 4,399,073 - (1,065,646) (2,090,335) (4,399,073) - 47,064 - - - 678,305 725,369 16,451 1,193,033 (361,185) (123,361) 751,825 458,090 725,369 1,209,484 715,802 2,218,121 57,467 624,368 3,615,758 2,036,561 5,863,713 18,123,960 788,255 12,523,122 37,299,050 35,262,489 S 6,579,515 20,342,081 845,722 13,147,490 40,914,808 37,299,050 4 Cr J� Revenues: Property taxes Sales taxes Othertaxes Motor vehicle license fees Utility franchise fees Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public safety Public services Parks and recreation Capital outlay Debt service - interest expense Total expenditures Excess of revenues over expenditures Other financing sources (uses): Operating transfers in (note 8) Operating transfers out (note 8) Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expenditures and other uses Fund balances, July I Find balances, June 30 CITY OF MOORPARK, CALIFORNIA Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - General, Special Revenue and Certain Capital Projects Funds Year ended June 30, 1998 General Fund 5,854,641 6,378,553 523,912 Special Revenue Funds Variance - favorable Budget Actual (unfavorable) 547,600 530,131 1,849,138 2,027,666 1,226,042 142,200 281,675 1,300 652,800 26,144 7,284,696 541,420 324,749 1,560,965 1,069,026 1,353,677 320,334 72,414 2,230 933,747 16,907 6,195,469 (6,180) (205,382) (288,173) (958,640) 127,635 178,134 (209,261) 930 280,947 (9,237) (1,089,227) 1,169,263 3,143,357 1,076,596 3,026,724 variance - 243,420 - 37,313 favorable Budgel Actual (unfavorable) $ 1,298,100 1,366,384 68,284 1,400,000 1,363,626 (36,374) 42,530 33,499 (9,031) 1,137,000 1,219,914 82,914 647,800 762,076 114,276 - 4,600 4,600 246,530 101,261 (145,269) 396,620 419,944 23,324 81,270 106,032 24,762 505,000 503,045 (1,955) 99,791 498,172 398,381 5,854,641 6,378,553 523,912 Special Revenue Funds Variance - favorable Budget Actual (unfavorable) 547,600 530,131 1,849,138 2,027,666 1,226,042 142,200 281,675 1,300 652,800 26,144 7,284,696 541,420 324,749 1,560,965 1,069,026 1,353,677 320,334 72,414 2,230 933,747 16,907 6,195,469 (6,180) (205,382) (288,173) (958,640) 127,635 178,134 (209,261) 930 280,947 (9,237) (1,089,227) 1,169,263 3,143,357 1,076,596 3,026,724 92,667 116,633 243,420 - 37,313 206,107 337,384 1,010,797 294,625 791,772 42,759 219,025 4,066,957 _ 3,134,400 _ 932,557 169,221 111,849 57,372 617,184 312,917 589,286 92,988 27,898 219,929 5,830,022 5,301,566 528,456 5,240,478 3,853,987 1,386,491 24,619 1,076,987 1,052,368 2,044,218 2,341,482 297,264 97,925 (446,000) 9,036 (370,221) (88,889) 75,779 792,839 (5,373,081) 484,043 (654,468) (308,796) 4,718,613 - - - 79,183 47,064 (32,119) (348,075) (361,185) (13,110) (4,501,059) (123,361) 4,377,698 (323,456) 715,802 1,039,258 (2,456,841) 2,218,121 4,674,962 5,863,713 5,863,713 - 18,123,960 18,123,960 - $ 5,540,257 6,579,515 1,039,258 15,667,119 20,342,081 4,674,962 (Continued) 5 t� G'3 CITY OF MOORPARK, CALIFORNIA Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - General, Special Revenue and Certain Capital Projects Funds, Continued Year ended June 30, 1998 Revenues: Property taxes Sales taxes Other taxes Motor vehicle license fees Utility franchise fees Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public safety Public services Parks and recreation Capital outlay Debt service - interest expense Total expenditures Excess of revenues over expenditures Other financing sources (uses): Operating transfers in (note 9) Operating transfers out (note 9) Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expenditures and other uses Fund balances, July Fund balances, June 30 See accompanying notes to general purpose financial statements. Certain Capital Projects Funds (note 2) Totals (memorandum only) a ce - favorable Variance - Budget Actual (unfavorable) Budget Actual favorable (unfavorable) $ 1,312,347 1,574,393 262,046 2,610,447 2,940,777 330,3 30 - - - 1,400,000 1,363,626 (36,330 - - - 590,130 574,919 (15,211) - - - 1,137,000 1,219,914 82,914 - - 647,800 762,076 114,276 - - - - 65,431 65,431 530,131 1,849,138 324,749 1,630,996 (205,382) (218,142) - - - 2,274,196 1,170,287 (1,103,909) - - - 1,226,042 1,353,677 127,635 107,424 - - 114,030 6,606 142,200 785,719 320,334 606,388 178,134 (179,331) - - 431,630 - 431,630 82,570 1,157,800 108,262 1,868,422 25,692 710,622 - 21 21 125,935 515,100 389,165 1,419,771 2,185,505 765,734 14,559,108 14,759,527 200,419 442,532 - 497,369 (54,837) 1,855,215 1,611,278 243,937 - - 3,143,357 3,026,724 116,633 - - - 4,404,341 3,429,025 975,316 145,608 374,598 - (228,990) 1,627,981 627,746 1,381,058 579,435 246,923 48,311 500.000 493,410 6,590 500,000 493,410 6,590 1,088,140 1,365,377 (277,237) 12,158,640 10,520,930 1,637,710 331,631 820,128 488,497 2,400,468 4,238,597 1,838,129 (1,104,286) (956,645) 147,641 890,764 (6,923,367) 493,079 (1,981,334) (397,685) 4,942,033 431,382 678,305 246,923 510,565 725,369 214,804 (672,904) (278,340) 394,564 (5,522,038) (762,886) 4,759,152 (341,273) 541,788 883,061 (3,121,570) 3,475,711 6,597,281 11,894,066 11,894,066 - 35,881,739 35,881,739 - $ 11,552,793 12,4�35,8544� 883,061 32,760,169 2 39,357,450 6,597,2811 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements June 30, 1998 (1) Summary of Significant Accounting Policies The City of Moorpark (the City) accounts for its financial operations in accordance with generally accepted accounting principles applicable to governmental units. Accordingly, the City uses several fund types and account groups as described below. Fund Types and Account Groups A fund or account group is an accounting entity with a self - balancing set of accounts established to record the financial position and results of operations of a specific governmental activity. The City maintains the following fund types and account groups: • Governmental fund types, which include the General Fund, Special Revenue, Debt Service and Capital Projects Funds, are used to record the general operations of the City. • Fiduciary fund type (Agency Funds), which is used to account for assets held by the City as an agent for individuals, organizations and other funds. The Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of operations. • General Fixed Assets Account Group, which is used to account for property and equipment purchased or received by the governmental fund types. • General Long -Term Debt Account Group, which is used to account for unmatured long -term indebtedness of the governmental fund types. Reporting Entity The accompanying general purpose financial statements include all accounts for the City and the Redevelopment Agency of the City of Moorpark (Redevelopment Agency), a separate legal entity, over which the City Council exercises significant oversight responsibility and authority and for which the City Council is financially accountable. The financial operations of the Redevelopment Agency are included in the accompanying financial statements based on the financial interdependency of the City and the Redevelopment Agency, the absence of authoritative independence of its officials and the significant ability of the City Council to influence the Redevelopment Agency's operations and fiscal matters. C iii CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued Basis of Accounting Governmental fund types use the modified - accrual basis of accounting. Revenues are recognized when available and measurable. Revenues considered susceptible to accrual include property taxes, sales taxes collected by the state on behalf of the City prior to year -end, certain other intergovernmental revenues and interest. In accruing intergovernmental revenues, such as grants and state subsidies, the legal and contractual requirements are used as guidance. Revenues which are not considered susceptible to accrual include motor vehicle license fees, certain other licenses and fees, fines, forfeitures and penalties. Expenditures are recorded when the related liability is incurred. Cash and Investments Effective July 1, 1997, the City adopted the provisions of GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and External Investment Pools. This statement requires governmental entities, including external investment pools, to report certain investments at fair value and recognize corresponding changes in the fair value of investments in the year in which the change occurred. At July 1, 1997, the cost of the City's investment portfolio approximated fair value; accordingly, no adjustment to the City's beginning fund balance needed to be recorded to properly reflect the implementation of GASB Statement No. 31. At June 30, 1998, the City's investment balances have been reflected at fair value. Interfund Transactions In the course of normal operations, transactions occur among various City funds. Recurring operating transfers are recorded by the receiving fund as an operating transfer in and as an addition to fund balance. Such transfers are recorded by the disbursing fund as an operating transfer out and a reduction of fund balance. Due to /from accounts and advance to /from accounts are primarily related to advances made by the General Fund to various Special Revenue and Capital Projects Funds and the Redevelopment Agency. Advances to Special Revenue and Capital Projects Funds are current and will be repaid from the receipt of grant funds and future revenues. Long -term advances to the Redevelopment Agency, which total $7,028,571 at June 30, 1998, are to be repaid over an indeterminate period of time, and bear simple interest at a rate of 10% annually. These long -term advances are fully reserved in the General Fund as the Agency is not able to finance current operations. N t� CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued Property Taxes The duties of assessing and collecting property taxes are performed by the Ventura County (County) Assessor and Tax Collector, respectively. The City receives an allocation of property taxes collected by the County with respect to property located within the City lit-nits equal to .078% of the 1% County levy. The Redevelopment Agency receives incremental property taxes on property within its project area over the base- assessed valuation at the date the project area was established. Tax levies cover the period from July I to June 30 of each year. All tax liens attach annually on the first day in March preceding the fiscal year for which the taxes are levied. Taxes are levied on both real and personal property as it exists on that date. Secured property taxes are levied against real property and are due and payable in two equal installments. The first installment is due on November 1 and becomes delinquent if not paid by December 10. The second installment is due on February 1 and becomes delinquent if not paid by April 10. Unsecured personal property taxes are due on July I each year. These taxes become delinquent if not paid by August 31. The City records property tax revenues in the fiscal year to which they are due rather than at the related lien date. Delinquent property taxes at year -end (June 30), if any, are reserved to the extent they are deemed to be uncollectible within 60 days thereafter. Land Held for Resale Land held for resale in the Redevelopment Low- and Moderate - Income Special Revenue Fund totaled $1,500,000 at June 30, 1998. Such property represents land purchased by the Agency for redevelopment purposes. Land is valued at the lower of cost or estimated net realizable value (as determined by a disposition and development agreement between the Agency and /or the City and a developer, when signed) and is offset by a reservation of fund balance to indicate that assets are not available for expenditure. Property and Equipment Acquisitions of property and equipment are recorded as expenditures in governmental fund types at the time of purchase. These assets, when over $500 each, are capitalized at cost in the General Fixed Assets Account Group. Contributed assets are recorded at the fair market value at the date of donation. Expenditures for infrastructure (roads, curbs, sidewalks, and the like) normally are not capitalized as such assets are immovable and generally of value only to the City. No depreciation is provided for assets capitalized in the General Fixed Assets Account Group. YV GC CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued Deposits Deposits principally consist of amounts collected from developers for services to be rendered by the City, including engineering, plan checks and inspections and planning review services. The City recognizes such amounts deposited as revenue when the services are performed and the corresponding expenditures are incurred. Total (Memorandum Only) Columns The combined financial statements include certain "memorandum only" totals which represent mathematical summations of account totals by fund type and account group and do not reflect the elimination of interfund transactions. Such totals are for information purposes only and do not present consolidated financial information. Reclassifications Certain reclassifications have been made to the comparative total amounts reported in prior years in order to conform to the current year's presentation. (2) Budgetary Information The City Council adopts a formal budget at the beginning of the City's fiscal year providing for operations and capital expenditures of the City's General Fund, Special Revenue Funds and the Redevelopment Agency Capital Projects Fund. Budgetary controls and the levying of taxes are established by the City within state limitations. The City's adopted budget requires that expenditures not exceed appropriations in total for each fund. The budgetary basis of accounting is consistent with generally accepted accounting principles applicable to the City's financial statements. The Council is authorized to make and has made appropriation adjustments to the budget during the year as deemed necessary. Such adjustments, which are considered immaterial, are included in the budget amounts in the accompanying general purpose financial statements. Appropriations lapse at year -end. H CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued A reconciliation of funds between the Combined Statement of Revenues, Expenditures and Changes in Fund Balances — Budget and Actual and the Combined Statement of Revenues, Expenditures and Changes in Fund Balances — Certain Capital Projects Funds is as follows: Capital Proiects Fund Balance, 2,224,878 Combined Balance, Statement of Combined Revenues, Statement of Expenditures Revenues, and Changes Expenditures in Fund and Changes Less Balances — in Fund nonbudgeted Budget and Balances funds Actual Total revenues $ 2,224,878 39,373 2,185,505 Total expenditures 2,058,600 693,223 1,365,377 Excess (deficiency) of revenues over expenditures 166,278 (653,850) 820,128 Other financing sources (uses) 458,090 736,430 (278,340) Excess (deficiency) of revenues and other sources over expenditures and other uses 624,368 82,580 541,788 Fund balances, July 1, 1997 12,523,122 629,056 11,894,066 ® Fund balances, June 30, 1998 $ 13,147,490 711,636 12,435,854 YV 1V CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (3) Cash and Investments Cash and investments of the City are pooled for deposit and investment purposes. Interest earned on pooled investments is credited to the funds based on each fund's average deposit balance. Investments are stated at fair value. The City's investments consist primarily of the State of California Local Agency Investment Fund (LAIF) and money market investments. Deposits The California Government Code requires California banks and savings and loan associations to secure a city's deposits by pledging government securities as collateral. The market value of pledged securities must equal at least 110% of a city's deposits. California law also allows financial institutions to secure such deposits by pledging first trust deed mortgage notes having a value of 150% of a city's total deposits. Investments The City temporarily invests its excess cash in instruments which are allowable under current legislation of the State of California (Government Code Section 53600 et seq.). The state code permits investments in the following instruments: • Securities of the U.S. Government or its agencies • Commercial paper • Small business administration loans • LAIF • Certificates of deposit (or time deposits) placed with commercial banks and /or • Repurchase agreements savings and loan companies Passbook savings accounts • Negotiable certificates of deposit • Reverse - repurchase agreements • Bankers' acceptances As of and for the year ended June 30, 1998 and for the year ended, the City did not choose to utilize either repurchase agreements or reverse - repurchase agreements investment vehicles; nor did it engage in securities lending activities. 12 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued The City's cash and investments at June 30, 1998 are as follows: Unrestricted cash and investments $ 27,739,983 Restricted cash and investments 834,293 $ 28,574,276 The cash and investments are aggregated as follows: Deposits $ 1,631,952 Investments 26,942,324 $ 28,574,276 The City's deposits at June 30, 1998 are categorized in the following table: Carrying Bank balance, amount, Description Category 1 Category 2 Category 3 June 30, 1998 June 30, 1998 Deposits held with banks $ 100,000 1,532,458 — 1,632,458 1,631,952 • Category 1— Includes deposits that are insured or collateralized with securities held by the City or its agent in the City's name. • Category 2 — Includes deposits that are collateralized with securities held by the pledging financial institution's trust department or agent in the City's name. • Category 3 — Includes uninsured and unregistered investments for which securities are held by the financial institution's trust department or agent but not in the City's name. 13 W CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued The City's investments at June 30, 1998 are categorized in the following table: Not required Carrying to be amount at fair Description Category 1 Category 2 Category 3 categorized value U.S. Government securities $ — — 2,782,609 — 2,782,609 Investments held in trust by fiscal agents on behalf of the City of Moorpark (restricted assets) — investment agreement — — 834,293 — 834,293 Money Market Fund — — — 5,482,855 5,482,855 State Treasurer's Local Agency Investment Fund — — — 17,842,567 17,842,567 Total $ — — 3,616,902 23,325,422 26,942,324 • Category 1 — Includes investments that are insured or registered or for which the securities are held by the City or its agent in the City's name. • Category 2 — Includes uninsured and unregistered investments for which the securities are held by the counterparty's trust department or agent in the City's name. • Category 3 — Includes uninsured and unregistered investments for which securities are held by the counterparty's trust department or agent but not in the City's name. At June 30, 1998, the cost of the City's investment portfolio approximated fair value. There were no net realized gains or losses on investments sold or matured during the year. The calculation of realized gains and losses is independent of a calculation of the net change in the fair value of investments. Realized gains and losses on investments that had been held in more than one fiscal year and sold in the current year were included as a change in the fair value of investments reported in the prior year(s) and the current year. 14 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (4) Long -Term Debt The following is a schedule of changes in long -term debt for the fiscal year ended June 30, 1998: Employee compensated absences payable 1993 Tax Allocation Bonds Long -term advances from the General Fund Total Employee Compensated Absences Payable Balance, July 1, 1997 $ 152,947 9,375,000 6,303,202 Additions 25,824 725,369 Deletions 225,000 Balance, June 30, 1998 178,771 9,150,000 7,028,571 $ 15,831,149 751,193 225,000 16,357,342 In accordance with generally accepted accounting principles, the City recognizes the long -term portion of accumulated employee compensated absences in the Long -Term Debt Account Group. 1993 Tax Allocation Bonds In 1993, the Redevelopment Agency issued a $10,000,000 aggregate principal amount of Moorpark Redevelopment Project 1993 Tax Allocation Bonds (the Bonds). The purpose of the Bonds was to finance a portion of the costs of implementing the Redevelopment Plan, including low- and moderate- income housing projects. The Bonds bear interest at rates ranging from 3.30% to 6.00% per annum, payable semiannually on April 1 and October I of each year, commencing on October 1, 1993 and are subject to mandatory sinking fund redemption commencing on October 1, 2008 and on each October 1 thereafter. The Bonds are payable from and secured by the tax revenues to be derived from the project area. The Bonds are secured by all property tax increment revenue which is deposited directly with the fiscal agent and recorded in the Debt Service Fund. Cash and investments in the custody of the fiscal agent are restricted by the bond resolutions for payment of principal and interest on the Tax Allocation Bonds. In addition, the bond resolutions require retention of funds held by the fiscal agent prior to use for other than debt service. A, CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued The Bonds are subject to optional redemption on any interest payment date on or after October 1, 2003, by lot within a given maturity, at the option of the Redevelopment Agency at a redemption price equal to the principal amount to be redeemed together with accrued interest to the redemption date (expressed as a percentage of the principal amount of Bonds to be redeemed) as follows: Redemption Redemption dates price October 1, 2003 and April 1, 2004 102% October 1, 2004 and April 1, 2005 101 October 1, 2005 and thereafter 100 The Redevelopment Agency is in compliance with the covenants contained in debt indentures, which require the establishment of certain specific accounts for the Tax Allocation Bonds. A reserve account is required to be maintained in an amount equal to the lesser of (i) the maximum annual debt service ($788,200) or (ii) the maximum amount permitted to be deposited in the Debt Service Reserve Account ($1,000,000). The balance of the reserve account at June 30, 1998 is $834,293. Debt service payments on the 1993 Tax Allocation Bonds payable will be made from the Debt Service Fund. Annual debt service requirements to maturity are as follows: Fiscal year Principal $ 240,000 250,000 260,000 275,000 290,000 7,835,000 Interest 539,239 526,984 513,784 499,534 484,061 4,430,102 Total 779,239 776,984 773,784 774,534 774,061 12,265,102 $ 9,150,000 6,993,704 16,143,704 Tel 1998 -99 1999 -2000 2000 -2001 2001 -2002 2002 -2003 Thereafter N Total $ 240,000 250,000 260,000 275,000 290,000 7,835,000 Interest 539,239 526,984 513,784 499,534 484,061 4,430,102 Total 779,239 776,984 773,784 774,534 774,061 12,265,102 $ 9,150,000 6,993,704 16,143,704 Tel CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued Advances from the General Fund The City's General Fund has paid for services and start -up expenditures incurred by the Redevelopment Agency. The amount advanced on behalf of the Redevelopment Agency during the fiscal year ended June 30, 1998 totaled $725,369 and is due over an indeterminate period of time and accrues interest at 10 %. During the fiscal year ended June 30, 1994, the City's General Fund also advanced $3.5 million to the Redevelopment Agency which the Redevelopment Agency used, together with $1.5 million of Low- and Moderate - Housing Funds and $.5 million of City Park Development Funds, to purchase certain properties within the Redevelopment Agency project area. This advance also accrues interest at 10% and is to be repaid over an indeterminate period. The balance of advances from the General Fund totaled $7,028,571 at June 30, 1998. (5) Low- and Moderate- Income Housing Set Aside The Health and Safety Code Section 33334.2 requires cities with redevelopment agencies to use at least 20% of tax increment revenues generated by a redevelopment project area to increase and improve the supply of low- and moderate - income housing in the community. Accordingly, the Redevelopment Agency's unspent commitment for its low- and moderate - income housing program from the issuance of the 1993 Tax Allocation Bonds described in note 4 and tax increment revenues amounted to $1,045,437 and is reflected as a reservation of fund balance in the Redevelopment Agency's Low- and Moderate - Income Housing Special Revenue Fund. (6) Retirement Plan Plan Description The City of Moorpark's defined benefit pension plan (the Plan), provides retirement and disability benefits, annual cost -of- living adjustments, and death benefits to plan members and beneficiaries. The Plan is part of the Public Agency portion of the California Public Employees Retirement System (CalPERS), an agent - multiple - employer plan administered by CAPERS, which acts as a common investment and administrative agent for participating public employers within the State of California. A menu of benefit provisions as well as other requirements are established by State statutes within the Public Employees' Retirement Law. The City of Moorpark selects optional benefits through local ordinance. CalPERS issues a separate comprehensive annual financial report. Copies of the CAPERS' annual financial report may be obtained from the CalPERS Executive ® Office - 400 P Street, Sacramento, CA 95814. N C� 17 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued All full -time City employees are eligible to participate in the Plan. Part-time employees appointed to a term of one year or longer and who work an average of 20 hours per week are also eligible to participate. Other part-time non - benefited hourly employees do not participate in the Plan. (Effective January 1, 1992, such part-time employees participate in Social Security.) Related benefits vest after five years of service. Upon five years of service, employees who retire at or after age 50 are entitled to receive an annual retirement benefit. The benefit is payable monthly for life, in an amount that varies, from 2% at age 50 to a maximum of 2.7% at age 55 for safety employees, and 1.092% at age 50 to a maximum of 2.418% at age 63 for non - safety employees of the employees' single highest year's salary for each year of credited service. The Plan also provides death and disability benefits. Funding Policy Active plan members in the Plan are required to contribute 6.04% of their covered salary. The City of Moorpark is required to contribute the actuarially determined remaining amounts necessary to fund the benefits for its members. The actuarial methods and assumptions used are those adopted by the CalPERS Board of Administration. The required employer contribution rate for the fiscal year ended June 30, 1998 was 4.31%. The contribution requirements of the plan members are established by State statute and the employer contribution rate is established and may be amended by CalPERS. Annual Pension Cost For the year ended June 30, 1998, the City of Moorpark's annual pension cost and its actual contributions were $82,374. The City also contributed $104,310 on behalf of employees. Employees directly contributed $135,808 . Total contributions were $322,492. The required contribution for the year ended June 30, 1998 was determined as part of the June 30, 1996 actuarial valuation using the entry age normal actuarial cost method with the contributions determined as a percent of pay. The actuarial assumptions included (a) 8.5% investment rate of return (net of administrative expenses); (b) projected salary increases that vary by duration of service ranging from 4.5% to 14.95% and (c) 4.5% cost -of- living adjustments. Both (a) and (b) include an inflation component of 4.5 %. The actuarial value of the Plan's assets was determined using a technique that smoothes the effect of short -term volatility in the market value of investments over a two to five year period depending on the size of investment gains and /or losses. The Plan's unfunded accrued liability (or excess assets) is being amortized as a level percentage of projected payroll on a closed basis. The remaining amortization period at June 30, 1997 was three years. 18 Three Year Trend Information CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued Fiscal year ended June 30 1994 1995 1996 Required Supplementary Information Annual pension cost (APC) $ 95,542 102,661 82,374 Percentage of APC contributed 100% $ 100% 100% Funded Status of the Plan (Dollars in thousands) Net pension obligation Entry age Unfunded normal (overfunded) Annual UAAL as a Valuation date accrued Actuarial liability covered percentage of (June 30) liability value of assets (UAAL) Funded ratio payroll payroll 1994 $ 1,209,137 1,287,256 1995 1,475,350 1,584,238 1996 1,787,608 2,028,298 C. a� 19 (78,1 19) (108,888) (240,690) 106.5% 107.4% 113.5% $ 1,823,634 1,745,047 1,674,361 (4.28 %) (6.24 %) (14.38 %) CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (7) Property and Equipment A summary of changes in general fixed assets for the year ended June 30, 1998 follows: Balance, Balance, July 1, 1997 Additions Disposals June 30, 1998 Land $ 9,771,438 58,475 — 9,829,913 Buildings and structures 3,684,266 23,502 — 3,707,768 Improvements other than buildings 5,395,709 — — 5,395,709 Office furniture and equipment 939,136 9,743 — 948,879 Other equipment 710,594 183,207 — 893,801 $ 20,501,143 274,927 — 20,776,070 20 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (8) Interfund Transactions FA A summary of operating transfers and interfund receivables /payables as of and for the year ended June 30, 1998 is included in the following table: Operating Operating Due from Due to transfers in transfers out other funds other funds General Fund $ 9,036 (370,221) 341,294 — Special Revenue Funds: Traffic System Management Fund — (1,570) — — Local Transportation Streets Fund — (86,778) — — Local Transportation Transit Fund 1,504 — — — Assessment District Fund 168,717 — — (42,461) Areas of Contribution Fund — (300,936) 42,461 — Park Development Fund — (5,085) — (328,190) Low- and Moderate- Income Housing Fund 204,820 — — — State Gas Tax Fund 109,002 (46,352) — — CDBG Entitlement Fund — (175,081) — (13,104) Other Grants Fund — (38,666) — — Total Special Revenue Funds 484,043 (654,468) 42,461 (383,755) Capital Projects Funds: Capital Projects Fund 645,431 — — _ City Hall Building Fund 200,000 — — — Equipment Replacement Fund — (109,001) — — Redevelopment Agency Fund — (956,645) — — C Total Capital Projects Funds 845,431 (1,065,646) — — ® Debt Service Fund 751,825 — — — Total $ 2,090,335 (2,090,335) 383,755 (383,755) FA C C t� N CITY OF MOORPARK, CALIFORNIA (Votes to General Purpose Financial Statements, Continued (9) Employee- Deferred Compensation Plans The City offers its employees two deferred compensation plans created in accordance with Internal Revenue Code Section 457. The first plan is available to all full -time City employees. The second plan, available to all part -time City employees, is used for purposes of providing retirement benefits to these employees. The City contributes 7.5% of the part-time employees' salaries into this plan on behalf of the employees. Both plans permit the employees to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. Recently approved Federal legislation requires that Section 457 plan assets be held in trust for employees. This change means that employee assets held in Section 457 plans no longer legally remain the property of the City. Therefore, such assets are not subject to claims of the City's general creditors. As such, in accordance with GASB Statement No. 32, "Accounting and Financial Reporting for IRS Section 457 — Deferred Compensation," deferred compensation assets, approximating $538,323, have been excluded from the combined balance sheet at June 30, 1998. (10) Commitments and Contingencies Commitments The City has contracted with the County of Ventura for various services, most notably law enforcement. These service contracts are renegotiated annually and cancelable by the City or the County on May 31 of each year after 30 days notice has been given. The aggregate of these and other various contractual commitments total approximately $2,965,943 for the year ended June 30, 1998. Contingencies There are certain legal actions pending against the City which management considers incident to normal operations, some of which seek substantial monetary damages. In the opinion of management, after consultation with counsel, the ultimate resolution of such actions is not expected to have a significant effect on the financial position or the results of operations of the City. 22 8 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (11) Residential Mortgage and Industrial Revenue Bonds The City sponsored a revenue bond program during the year ended June 30, 1985 under which $20,000,000 of Single- Family Residential Mortgage Revenue Bonds were issued. The Single- Family Mortgage program is designed to provide funds to acquire mortgage loans on single - family residences located in the City. These bonds are secured by a pledge of all loans receivable advanced from the bond proceeds by the trustee, First Interstate Bank of California, and are serviced from payments on the loans to the Trustee. During the year ended June 30, 1995, the outstanding mortgages in this program were sold, the proceeds were used to establish an irrevocable trust to defease the bonds at April 1, 1995, and the program was discontinued. The City sponsored a revenue bond program during the year ended June 30, 1986, under which $22,600,000 of Multi - Family Housing Revenue Bonds were issued. The program was designed to assist in making low- and moderate -cost rental housing available in the City. The City was guaranteed that 10% of the units of the project financed with the bonds are made available to persons and families with incomes not exceeding 80% of the County median income and another 10% of the units for persons and families with income not exceeding 50% of the County median income. The units were available under this program for a 30 -year period. These bonds were secured by a letter of credit issued by Citibank, N.A., dated December 23, 1985. The program is administered by the Trustee, Bank of America. The bonds were refinanced during the year ended June 30, 1992. The unpaid principal balance on the refinanced bonds is $21,700,000 at June 30, 1998. The City Council, serving as the Industrial Development Authority of the City of Moorpark, issued $9,300,000 of Industrial Revenue Bonds during the year ended June 30, 1986. The bonds were issued to finance the development and construction of manufacturing facilities for the Kavlico Corporation. These bonds are secured by a standby letter of credit issued by Bank of America. Dai Ichi Kangyo Bank of California serves as the Trustee for these bonds. The unpaid principal balance on such bonds is $6,795,000 at June 30, 1998. Each of the bond programs described above do not constitute an indebtedness of the City, and there is neither a legal nor a moral obligation on the part of the City to make payments on such bonds from any source other than the revenues and assets pledged therefor. The programs are completely administered by the Trustees without any involvement by the City. Accordingly, these programs and the bonds issued thereunder have been excluded from the accompanying general purpose financial statements. 23 C� l�? G9 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (12) Special Assessment Bonds On April 1, 1994, the City sponsored the issuance of special assessment bonds to finance certain capital improvements for the Mission Bell Plaza project. These bonds, totaling $2,595,000, of which $735,000 and $1,475,000 mature in 2013 and 2023, respectively, were issued under the 1915 Improvement Bond Act and are obligations against the properties in the assessment district. The special assessment, which is collected with other property related taxes as part of the secured property tax bill for properties in the assessment district, will be forwarded to an independent bank that serves as 6e paying agent. These bonds do not constitute an indebtedness of the City, and the City is not liable for their repayment. Accordingly, these special assessment bonds payable have been excluded from the accompanying general purpose financial statements. The unpaid principal balance on such bonds is $2,430,000 at June 30, 1998. On July I, 1997, the City issued bonds to finance the acquisition and construction of public improvements within the City of Moorpark Community Facilities District No. 97 -1. These bonds, totaling $7,645,000, were issued pursuant to the Mello -Roos Community Facilities Act of 1982. The bonds mature on September 1, 2008 with interest payable at rates ranging from 4.4% to 6% per annum on March 1 and September 1 of each year commencing March I, 1998. The City is not liable under any circumstance for the repayment of the debt, but is only acting as agent for the property owners in collecting the assessments and special taxes, forwarding collections to fiscal agents to pay the bondholders and initiating foreclosure proceedings, if appropriate. Accordingly, these bonds payable have been excluded from the accompanying general purpose financial statements. The unpaid principal balance is $7,630,000 at June 30, 1998. Seven properties in the assessment district, which had been zoned for commercial use prior to the City's incorporation, are currently used for residential, commercial and agricultural purposes. At various times, the City has advanced monies and contributed assessments on these properties from the Los Angeles Avenue Area of Contribution Special Revenue Fund to the paying agent, which the paying agent has used to purchase certain securities which have been placed in trust accounts to be used solely to provide for principal of and interest on the seven properties' proportionate share of the bonds through maturity. Notes receivable, secured by deeds of trust and various accounts receivable, have been established for these advances with interest accruing at a variable rate equivalent to the rate at which the City earns on funds deposited in the State Treasurer's Local Agency Investment Fund or 7 %, whichever is less. Under the terms of the original promissory notes, the notes and accrued interest are due at the earlier of (1) sale of the property, (2) conversion of the property to a commercial use or (3) the maturity of the notes in March 2023. Subsequent to June 30, 1998, the notes were amended and the repayment terms changed as follows: the notes and accrued interest are due August 2029. 24 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (13) General Liability Insurance The City is self - insured through the Southern California Joint Powers Insurance Authority (the Authority), a public entity risk pool. The Authority is made up of approximately 70 Southern California municipalities and provides joint protection wherein cities pool their losses and claims, jointly purchase excess insurance and share administrative and related costs. The program includes both comprehensive liability and workers' compensation coverage for member cities. Under the liability program, the City absorbs the first $20,000 of each occurrence (retained losses), shares pro rata all members' losses from $20,000 to $500,000 based on each member's retained losses as a percentage of total retained losses, and shares pro rata remaining losses from $500,000 to $1 million and general and administrative costs based on each member's payroll. A separate pool is set aside to cover losses from $1 million to $10 million. Coverages for the workers' compensation program are similar, except the amounts used are $10,000; $10,000 to $100,000; $100,000 to $500,000; and above $500,000 to $5,000,000 covered by an excess insurance policy, respectively. No long -term debt has been incurred by the Authority. Because the City does not have primary oversight responsibility, the Authority is not considered part of the City's reporting entity. Summary unaudited financial information of the Authority for the year ended June 30, 1998 is as follows: Total assets Total liabilities Total fund balances Total revenues Total expenses 04) Fund Balances $ 136,893,325 37,665,241 99,228,084 24,362,767 20,974,367 The State Gas Tax Special Revenue Fund has designated $109,002 for replacement of equipment. The Redevelopment Agency has designated $8,497,026 of fund balance in the Redevelopment Agency Capital Projects Fund for business incentives and future capital projects. (15) Proposition 62 (� The California Supreme Court recently upheld the constitutionality of Proposition 62, a 1986 initiative which requires voter approval of all new or increased taxes. The likelihood and amount of such an adverse effect upon the financial position of the City is currently unknown and has not been reflected in the general purpose financial statements. P41 C C C N on U1 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (16) Proposition 218 The voters recently approved the "Right to Vote on Taxes Act" (Proposition 218) which limits the City's ability to levy general taxes and benefit assessments without voter approval. The actual effects of Proposition 218 are unclear at this time. The initiative would also require voter approval by November 1998, to continue to collect annually in the General Fund general taxes (such as utility, transient occupancy, and the like) that are subject to the proposition requirements. It is uncertain what effect the proposition will have on taxes collected after January 1995, if voter approval has not been obtained by the due date. W11 SUPPLEMENTARY INFORMATION C PJ �r SPECIAL REVENUE FUNDS YV /1,FJ Schedule I CITY OF MOORPARK, CALIFORNIA Combining Balance Sheet - All Special Revenue Funds June 311, 1999 with comparative total figures at June 30, 1997 27 Citywide Local Local Traffic System Traffic Transportation Transportation Crossing Assessment Areas of Park Community Traffic Safety Management Mitigation Streets Transit Guard District Contribution Development Development Assets Fund (200) Fund (201) Fund (202) Fund (203) Fund (214) Fund (2413) Fund (2141) Fund (2 11) Fund (212) Fund (2211) Cash and investments f 46,482 1,0511,078 1,069,341 2,072.2 116 97,431 113,505 295,5114 8,112,528 980,135 444,725 Accounts and interest receivable, net 7,X911 X,232 9,410 16,1699 77,179 974 45,432 947,931 245,030 1X,42.3 Due from other funds Note receivable - - - 119,9611 - - _ - _ - _ - - 42061 - - Land held for resale - - - Total assets S 54,372 1,17X,17% 1,077,751 2,1898,384 164,610 114,479 340,936 9,102.920 1,225,165 463,14% Liabilities and Fund Balances Liabllltics: Accounts payable and accrued liabilities Due to other funds s 1,062 - - - - 16,770 93 146,846 197,551 Deferred revenue - - 119,86H - - 97,5(X) 511,367 - - 42,461 - 188.350 328,190 2, 310I Total liabilities 1,062 119,H611 - 97,5(X) 67,137 93 189307 I9 %,350 330,991 197,551 Fund balances: Reserved hir encumbramcs Reserved for receivables due after - - - 359,317 97,473 - 2,240 63,553 173,543 111,5117 one year Reserved fin low /nuAcrate income - - - - - - - 786,160 234,619 - luusing Reserved for land held for resale - - - - - - - Unreserved: _ _ _ - - - Designated - - - - - Undcsignaicd 53,310 1,058,310 1,077,751 1,631,567 - - 114,3X6 149,399 9,064,957 486,012 247.010 Tonal fund halanccs 53,310 1,059,310 1077,751 1,990,1494 97,473 114,3116 151,629 8,914,570 X94,174 265.597 Tonal liabilities and fund balances $ 54,372 1,178.179 1,077,751 2,0XH,3H4 164,610 114,479 340,936 9,102,920 1,225.165 463,149 (Continued) 27 M� M W Schedule 1 -2 CITY OF MOORPARK, CALIFORNIA Cumhining Balance Sheet - All Special Revenue Funds, Cowtinued June 30, 1999 with comparative 6Nal figures at June 3(), 1997 28 Iwsw- and Tronspxlalinn Affordable Mrderaw Stele TraeeR Development CDBG Fyn Asseb Horsing Fund (221) Income Hotefng Fund (212) Stele Gas Tax Fund Assistance Act (Article 31 I.S.T.F..A. F,nlilkmenl Glitter Facilkks Fee Totals ' (20) Fund (241) FwW (242) Fund(244) Fwd 12451 Granb(246) Fund (402) Cash and investments S 525.413 1.194,435 1,516.991 62,415 92.7X0 and interest reccivablc, net 73114 152517 17,396 491 — 731 567.593 1X.231.662 13.473.731 Due Inint Due Innn dher funds _ — — — 19,112 59,530 4.600 1,7113,79(1 2,335.X54 Noe recciv ahle _ — — — _ — — — — 42.461 42.461 Land hell lur resale 1.510.1991 _ _ - — — — 119,869 _ - — — — I,SINI,INXI I,Sg1,INN1 Total assets S 598,727 2,A46,972 1,534,587 62.916 93,311 — 19.412 39,330 392,193 21,617,781 19,354,049 Liabilities and Fund Balantn Liabilities: Accounts payable and accrued liabilities S 1.644 29.1166 33,419 — — 6.309 Due to nNhcr funds Dcicrrcd revenue — _ — — 13,1114 — — — — 433,059 393,755 396,957 153.651 _ _ — — — 4511,gN6 479AX1 Total liabilities 1,644 29.366 33,419 — — — 19,412 — 1,275,700 1.230.0119 Fund balances: Reserved ht encumbrances Reserved hir receivables due after 45,19)(1 133.192 25,X80 — — — 3,0177 1 9.572 33,1991 979,134 426.7119 "M year 73.141 136,977 — — Reserved for 1"wfmakrate income — — — — — 1,232,1497 1.87 1.647 housing — 1.(45.437 Reserved for land hell for reside — I,SINI,IMNI _— — — — — — 1.143,437 974,1X3 Unreserved: — — — — — LSINLINNI 1,5(0.(X9) Designated — — 109.002 UodcsignateJ 476,942 — L366,2R6 62,916 93.511 — (5.0771 40,959 557,193 1119.102 15,475,311 13,351.372 Total fund balances 397,093 2.917,606 1,501,169 62,916 93,511 — — 59.530 592,193 20,342,081 18.123,960 Total liabilities and fund halanccs S 591027 2,.446,972 1,534,597 62.906 93,111 — 19,412 59,530 592,193 21,617,791 19,354,(M9 See accotnpanying independent au lilt"' repon. 28 N Schedule 2 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) - All Special Revenue Funds Year ended June 30, 1998 with comparative toad figures liar the year ended June .10, 1997 29 Cilywide Local Local Traffic System Traffic Transportation Transportation Crossing Assessment Areas of Park Community Traffic Safety Management Mitigation Streets Transit Guard District Contribution Development Development Revenues: Fund (200) Fund (2411) Fund (2112) Fund (203) Fund (204) Fund (205) Fund (210) Fund (211) Fund (212) Fund (2211) Othertaxcs Building and wfcty (as - - - - - - - _ 7,744 Maintenance assessments - 62,664 X7,329 - - - 1,186,506 175,290 49,177 302.794 Subventions and grants - - - 499.032 215.772 - Planning and public works Ices - - - - - _ _- Park development fees - - - - - - 1,353,677 Charges for current services 41,375 - - - 15,065 15,955 - - 19 3211,334 Fines and forfeitures 2,2.70 - - - _ _ _ Interest Other - 52,070 53,3117 94,763 2,946 6,387 9,2%7 456,(119 59,027 - - - - 470 - - - 7,101 1,X65 Total revenues 43,605 114,734 140,635 609,330 234,673 6,397 1,195,X12 638,409 428,5311 1.666,1180 Expenditures: Current: General govemment 28 Public services Parks and recreation 36,597 - - - - _ 138,704 _ 12,196 _ 584.738 _ 1,717,753 Capital outlay 12,1128 - - - - - 4,1X9 5 %5,277 _ - - - - 2.71X) - 16.653 %.404 Total expenditures 0,643 - - - 13X,714 16,205 1,172,715 16.653 1,732,793 Excess (deficiency) of revenues over expenditures (5,03X) 114,734 140,635 609,330 95,969 (9,81%) 23.097 638,409 411.X85 (66,703) Other financing soumcs (uses): Operating transfers in - - - _ I'S- - 16ri,717 Operating transfers out Proceeds from long -term advances from - (1,570 ) - (86,77X) - - - - (3110,936) - - General Fund Total other financing stwrccs(uses) - (1,570) - (116,778) 1,514 - 168,717 (3(1),936) (5.085) Excess (deficiency) of revenues and other sources over expenditures and other uses (5,038) 113.164 140.635 522.552 97,473 (9,81X) 191,914 337,473 406,91X1 (66,703) Fund balarwes (deficits), July 1 58.349 945,146 937,116 1,468,332 - 124,204 (40,I 115) 9,577,197 4 97,374 332.3(X) Fund bulamcs, June 30 $ 53,310 1,115X,310 1,077,751 1,9(A),884 97,473 114,386 151,629 9,914,5711 994,174 265,597 (Continued) 29 A� Schedule 2.2 CITY OF MOORPARK, CALIFORNIA Combining Slatem im of Revenues, Expenditures and Changes in Fund Balances (De(kils) - All Special Revenue Funds, C tilinunl Yea ended June 30. 1997 with comparative Imal figures ]or the yen ended June 30, 1996 30 1 asw- and Trarmpirtatlrus Affordable Mrrderate- State Trarall Development CDBG Prdke Hoeviing Insane Housing State Gam Tax Assistance Act (Article 3) I.S.T.F..A. Fniklemmm Other Facilkks Fee Tutats Rcvcntxs: Fund (221) Fund (232) Fund (240) Fund (241) Fund (242) Farad (2M) Fund (US) Grants (246) Fusin (402) Other Ines Building and safely fees - _ _ _ Maintenance acscssnxnts - - - - - - - - - 21,955 324,749 471,493 Subventions and grants - - - _ - _ _ 44,41X5 Planning and public works Ices - 211,620 98,196 - I; 169,026 I,251,IIIM) Parkdcvelopnxnllces - - _ - _ _ - - - - 115 3,677 1,432,441 Charges acitur xefVieem - - - - - - 320.334 40,2X9 f Fines and tafeilurcx - - - - - - - - - 72,414 467,791 Interest 29,731 511,336 74.954 - 3,157 - 4,445 - 2,230 46,9112 Other - 122 7,349 - - - 29,319 933.747 1,014,654 - - - 16,901 84,287 Taal revenues 29,731 SA.4511 615,979 3,157 411,1151 - 211.620 911,196 51,274 6,195,469 6,963,341 Expenditures: Current (icncral govcmffxnl 14,639 - 1.650 - - - 14.371 Public services - 64,790 557.464 - - - 22,169 37.313 11,602 Parks and recreation 424 _ - - 3,134.4(X) 3,303,516 Capital outlay = 43.167 5119.2116 679,493 - - - 9.612 - 92.9X6 Total expenditures 14,636 65,214 602.291 - - 46,151 - - 1.653,997 4,024,869 Excess (deficiency) of revenues over expenditures 15,093 (6,756) 13,698 3,157 49,951 - 165.469 98,196 51,274 2,341.4A2 2,939,472 Other financing simices (uses): Operating transfers In - 204,820 1()9,(1()2 Operating transfcrs out - - (46,352) _ _ _ 484,041 Proceeds Iroan long -tcmt advances Irom - - - 1175,U- (38,666) - 1654,4681 (2A 1,4311 General Fund - 47.0199 - - - - - - 47,064 72.638 Taal other financing sourccs(uses) - 251,884 62.650 - - - (175,0111) (3X,666) (123,361) (2,393,762) Excess (deficiency) of revenues and other sott¢es Over expenditures and other uses 15093 245.121 76,349 3.157 46,1151 - (9.612) 59,530 51,274 2.218,121 544,710 Fund halatic" (deficits). July 1 581,99() 2.572,478 1.424,920 59,749 44,660 - 9,612 - 54(1.919 19,123,960 17.579.2511 Fund balances. June 30 S 597,093 2,1117,6116 1,501,169 62,906 93.511 - 59,530 592,193 211,342,081 IN,123,960 30 Revenues: Other taxes Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public services Parks and recreation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers in Operating transfers out Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expenditures and other uses Fund balances, July I Fund balances (deficits), June 30 Schedule 3 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) - Budget and Actual - All Special Revenue Funds Year ended June 30, 1998 Traffic Safety Fund (200) Traffic System Management Fund (201) Variance - Varlanue - favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) - - - 242,500 62,664 (179,836) 40,000 41,375 1,375 - - - 1,300 2,230 930 - - - - - - 33,000 52,070 19,070 41,300 43,605 2,305 275,500 114,734 (160,766) - 28 (28) - - - 49,488 36,587 12,901 - - - 16,250 12,028 4,222 - - - 65,738 48,643 17,095 - - - (24,438) (5,038) 19,400 275,500 114,734 (160,766) - - - (3,000) (1,570) 1,430 - - - (3,000) (1,570) 1,430 (24,438) (5,038) 19,400 272,500 113,164 (159,336) 58,348 58,348 - 945,146 945,146 - $ 3 19,400 s 1,217,646 1,058,310 (159,336) (Continued) 31 C Revenues: Othertaxes Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public services Parks and recreation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers in Operating transfers out Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expenditures and other uses Fund balances, July I Fund balances (deficits), June 30 Schedule 3 -2 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) - Budget and Actual - All Special Revenue Funds Year ended June 30, 1998 Citywide Traffic Mitigation Fund (202) Local Transportation Streets Fund (203) Va-rTa nce - Variance - favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) 75,000 87,328 12,328 - - - - - - 499,032 499,032 - - - - - 15,065 15,065 46,000 53,307 7,307 75,000 94,763 19,763 - - - - 470 470 121,000 140,635 19,635 574,032 609,330 35,298 10,000 - 10,000 10,000 - 10,000 - - - 111,000 140,635 29,635 574,032 609,330 35,298 (75,000) - 75,000 (625,000) (86,778) 538,222 (75,000) - 75,000 (625,000) (86,778) 538,222 36,000 140,635 104,635 (50,968) 522,552 573,520 937,116 937,116 - 1,468,332 1,468,332 - S 973,116 1,077,751 104,635 1,417,364 1,990,884 573,520 (Continued) 32 Schedule 3 -3 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) - Budget and Actual - All Special Revenue Funds Year ended June 30, 1998 Local Transportation Transit Fund (204) _ Crossing Guard Fund (205) a ante - favorable Variance= favorable Revenues: Budget Actual (unfavorable) Budget Actual (unfavorable) Other taxes $ Building and safety fees - Maintenance assessments - - Subventions and grants 118,939 215,772 96,833 - - Planning and public works fees - - - Park development fees - - - Charges for current services 10,000 15,955 5,955 - - Fines and forfeitures Interest Other 4,000 - 2,946 - (1,054) 6,000 6,387 387 Total revenues 132,939 234,673 101,734 6,000 6,387 387 Expenditures: Current: General government - - Public services Parks and recreation 168,854 138,704 30,150 9,620 12,196 (2,576) Capital outlay 127,000 - 127,000 - - 4,009 - (4,009) - Total expenditures 295,854 138,704 157,150 9,620 16,205 (6,585) Excess (deficiency) of revenues over expenditures (162,915) 95,969 258,884 (3,620) (9,818) (6,198) Other financing sources (uses): Operating transfers in 96,000 1,504 (94,496) - - Operating transfers out - - - Proceeds from long -term advances from General Fund - - - - Total other financing sources (uses) 96,000 1,504 (94,496) - - - Excess (deficiency) of revenues and other sources �r ® over expenditures and other uses (66,915) 97,473 164,388 (3,620) (9,818) (6,198) ® Fund balances, July I - - - 124,204 124,204 - Fund balances (deficits), June 30 $ (66,915) 97,473 164,388 120,584 11 ,386 (Continued) 33 0 13 U1 Revenues: Othertaxes Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public services Parks and recreation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers in Operating transfers out Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expenditures and other uses Fund balances, July I Fund balances (deficits). June 30 Schedule 3 -4 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) - Budget and Actual - All Special Revenue Funds Year ended June 30, 1998 Assessment District Fund (210) - 6,000 v anance - Variance - 553,014 favorable favorable Budget Actual (unfavorable) 175,290 (67,924) 315,800 1,226,124 1,186,506 (39,618) - 19 19 5,000 9,287 4,287 1,231,124 1,195,812 (35,312) 663,770 584,738 79,032 617,184 585,277 31,907 12,240 2,700 9,540 1,293,194 1,172,715 120,479 (62,070) 23,097 85,167 116,000 168,717 52,717 (5,000) - 5,000 111,000 168,717 57,717 Areas of Contribution Fund (211) 6,000 - 6,000 v anance - - 6,000 553,014 favorable Budget Actual (unfavorable) 243,214 175,290 (67,924) 315,800 456,018 140,218 - 7,101 7,101 559,014 638,409 79,395 6,000 - 6,000 6,000 - 6,000 553,014 638,409 85,395 (2,794,000) (300,936) 2,493,064 (2,794,000) (300,936) 2,493,064 48,930 191,814 142,884 (2,240,986) (40,185) (40,185) - 8,577,097 $ 8,745 151,629 142,884 6,336,111 (Continued) 34 337,473 8,577,097 8,914,570 2,578,459 2,578,459 Revenues: Othertaxes Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public services Parks and recreation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers in Operating transfers out Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expenditures and other uses Fund balances, July I Fund balances (deficits), June 30 Schedule 3 -5 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) - Budget and Actual - All Special Revenue Funds Year ended June 30, 1998 Park Development Fund (212) Community Development Fund (220) ar ante - ar ante - favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) $ - - - 15,600 7,744 (7,856) - 495,331 302,794 (192,537) 62,300 49,177 (13,123) - - - ,226,042 1,353,677 127,635 142,200 320,334 178,134 - - - 231,675 - (231,675) - - - - 59,027 59,027 - - - - - - 500 1,865 1,365 436,175 428,538 (7,637) 1,737,473 1,666,080 (71,393) - - - 6,950 6,626 324 - - - 1,822,240 1,717,753 104,487 17,225 16,653 572 28,452 8,404 20,048 17,225 16,653 572 1,857,642 1,732,783 124,859 418,950 411,885 (7,065) (120,169) (66,703) 53,466 100,000 (100,000) (248,859) (5,085) 243,774 (36,850) - 36,850 (248,859) (5,085) 243,774 63,150 - (63,150) 170,091 406,800 236,709 (57,019) (66,703) (9,684) 487,374 487,374 - 332,300 332,300 - $ 657,465 894,174 236,709 275,281 265,597 (9,684) (Continued) 35 �r N td Revenues: Othertaxes Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public services Parks and recreation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers in Operating transfers out Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expenditures and other uses Fund balances, July I Fund balances (deficits), June 30 Schedule 3 -6 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) - Budget and Actual - All Special Revenue Funds Year ended June 30, 1998 Affordable Housing Fund (221) Low- and Moderate- income Housing Fund (232) a ance - Variance - favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) 29,000 29,731 731 38,000 58,336 20,336 22,644 - (22,644) - 122 122 51,644 29,731 (21,913) 38,000 58,458 20,458 186,136 14,638 171,498 - - - - - - 673,703 64,790 608,913 - - - 650 424 226 186,136 14,638 171,498 674,353 65,214 609,139 (134,492) 15,093 149,585 (636,353) (6,756) 629,597 - - - 371,837 204,820 (167,017) - - - 79,183 47,064 (32,1 19) - - - 451,020 251,884 (199,136) (134,492) 15,093 149,585 (185,333) 245,128 430,461 581,990 581,990 - 2,572,478 2,572,478 - S 447,498 597,083 149,585 2,387,145 2,817,606 430,461 (Continued) 36 C PJ Revenues: Other taxes Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public services Parks and recreation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers in Operating transfers out Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expenditures and other uses Fund balances, July I Fund balances (deficits), June 30 Schedule 3 -7 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) - Budget and Actual - All Special Revenue Funds Year ended June 30, 1998 State Gas Tax Fund (240) State Transit Assistance Fund (241) a ance - Variance - favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) $ 532,000 533,676 1,676 75,000 74,954 (46) 5,000 3,157 (1,843) 3,000 7,349 4,349 - - - 610,000 615,979 5,979 5,000 3,157 (1,843) 1,650 1,650 - - - - 634,418 557,464 76,954 81,488 43,167 38,321 - - - 717,556 602,281 115,275 - - - (107,556) 13,698 121,254 5,000 3,157 (1,843) 109,002 109,002 - - - - (186,625) (46,352) 140,273 (30,000) - 30,000 (77,623) 62,650 140,273 (30,000) - 30,000 (185,179) 76,348 261,527 (25,000) 3,157 28,157 1,424,820 1,424,820 - 59,749 59,749 - $ 1,239,641 1,501,168 261,527 34,749 62,906 28,157 (Continued) 37 C r� W Revenues: Othertaxes Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public services Parks and recreation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers in Operating transfers out Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expenditures and other uses Fund balances, July I Fund balances (deficits), June 30 Schedule 3 -8 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) – Budget and Actual – All Special Revenue Funds Year ended June 30, 1998 (Continued) 38 Transportation Development Act (Article 3) Fund (242) I.S.T.E.A. Fund (244) Variance -- favorable Variance – favorable Budget Actual (unfavorable) Budget Actual (unfavorable) 44,000 44,406 406 860,000 — (860,000) 2,000 4,445 2,445 — — — 46,000 48,851 2,851 860,000 — (860,000) 46,000 48,851 860,000 — 2,851 (860,000) (65,600) — 65,600 (860,000) — 860,000 (65,600) — 65,600 (860,000) — 860,000 (19,600) 48,851 68,451 — — — 44,660 44,660 — — — — 25,060 93,511 68,451 — (Continued) 38 Revenues: Other taxes Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public services Parks and recreation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers in Operating transfers out Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources ® over expenditures and other uses ® Fund balances, July I Fund balances (deficits), June 30 C Schedule 3 -9 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) - Budget and Actual - All Special Revenue Funds Year ended June 30, 1998 CDBG Entitlement Fund (245) Other Grants Fund (246) a ance - Variance - favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) 433,345 211,620 (221,725) 72,350 98,196 25,846 433,345 (221,725) 98,196 211,620 72,350 25,846 14,371 (14,371) 33,684 - (33,684) 28,864 22,168 6,696 - - - 9,612 9,612 - - - - 38,476 46,151 (7,675) 33,684 - (33,684) 394,869 165,469 (229,400) 38,666 98,196 59,530 (404,481) (175,081) 229,400 (38,666) (38,666) - (404,481) (175,081) 229,400 (38,666) (38,666) - (9,612) (9,612) - - 59,530 59,530 9,612 9,612 - - - - $ - - - - 59,530 59,530 (Continued) 39 Revenues: Othertaxes Building and safety fees Maintenance assessments Subventions and grants Planning and public works fees Park development fees Charges for current services Fines and forfeitures Interest Other Total revenues Expenditures: Current: General government Public services Parks and recreation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers in Operating transfers out Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expenditures and other uses Fund balances, July I Fund balances (deficits), June 30 Q Schedule 3 -10 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) - Budget and Actual - All Special Revenue Funds Year ended June 30, 1998 Police Facilities Fee Fund (402) Variance - favorable Budget Actual (unfavorable) 34,800 21,955 (12,845) 19,000 29,319 10,319 53,800 51,274 (2,526) Total 7,284,696 6,195,469 (1,089,227) 15,000 - v anance - 243,420 37,313 favorable Budget Actual (unfavorable) 547,600 541,420 (6,180) 530,131 324,749 (205,382) 1,849,138 1,560,965 (288,173) 2,027,666 1,069,026 (958,640) 1,226,042 1,353,677 127,635 142,200 320,334 178,134 281,675 72,414 (209,261) 1,300 2,230 930 652,800 933,747 280,947 26,144 16,907 (9,237) 7,284,696 6,195,469 (1,089,227) 15,000 - 15,000 243,420 37,313 206,107 - - - 4,066,957 3,134,400 932,557 20,000 - - 20,000 617,184 312,917 589,286 92,988 27,898 219,929 35.000 - 35,000 5,240,478 3,853,987 1,386,491 18,800 51,274 32,474 2,044,218 2,341,482 297,264 - - - 792,839 484,043 (308,796) - - - (5,373,081) (654,468) 4,718,613 - - - 79,183 47,064 (32,119) - - - (4,501,059) (123,361) 4,377,698 18,800 51,274 32,474 (2,456,841) 2,218,121 4,674,962 540,919 540,919 - 18,123,960 18,123,960 - S 559,719 592,193 32,474 15,667,119 20,342,081 4,674,962 40 CAPITAL PROJECTS FUNDS C.� D l� Assets Cash and investments Accounts and interest receivable, net Taxes receivable Notes receivable Other assets Total assets Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities Deferred revenue Total liabilities Fund balances: Reserved for encumbrances Reserved for prepaid expenditures Reserved for receivables due after one year net Unreserved: Designated for business incentives Designated for capital projects Undesignated Total fund balances Total liabilities and fund balances See accompanying independent auditors' report. Schedule 4 CITY OF MOORPARK, CALIFORNIA Combining Balance Sheet - All Capital Projects Funds June 30,1998 with comparative total figures at June 30, 1997 Capital Project Fund $ 89,472 $ 89,472 $ 89,472 89,472 $ 89,472 City Hall Building Fund 433,269 3,469 436,738 2,181 2,181 Equipment Replacement Fund 274,337 2,742 277,079 16,914 2,129 417,643 274,950 434,557 277,079 436,738 277,079 41 Redevelopment Agency Fund 8,316,494 294,713 8,182 3,833,464 12,452,853 16,999 16,999 17,542 3,921, 286 233,678 8,263,348 12,435,854 12,452,853 Totals 9,113,572 8,650,349 300,924 418,765 8,182 5,797 3,833,464 3,934,500 - 8,952 13,256,142 13,018,363 108,652 108,652 36,585 3,921,286 233,678 8,263,348 692,593 13,147,490 13,256,142 486,773 8,468 495,241 498,680 8,952 4,015,400 250,000 7,121,034 629,056 12,523,122 13,018,363 C Revenues: Property taxes Maintenance assessments Charges for current services Interest Other Total revenues Expenditures: Public services Current - general government Capital outlay Debt service - interest expense Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers in Operating transfers out Proceeds from sale of City assets Proceeds from long -term advances from General Fund Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expen- ditures and other uses Fund balances, July I Fund balances, June 30 See accompanying independent auditors' report. Schedule 5 CITY OF MOORPARK, CALIFORNIA Combining Statement of Revenues, Expenditures and Changes in Fund Balances - All Capital Projects Funds Year ended June 30,1998 with comparative total figures for the year ended June 30, 1997 Equipment Capital City Hall Replacement Redevelopment 1,111,809 Totals Project Fund Building Fund Fund Agency Fund JIM 1997-- $ - - - 1,574,393 1,574,393 1,452,859 - - - 65,431 65,431 25,477 - - - 1 14,030 114,030 122,183 - 20,140 19,233 431,630 471,003 556,347 - - - 21 21 11,270 - 20,140 19,233 2,185,505 2,224,878 2,168,136 170,335 7,423 - 13,086 - - 497,369 170,335 517,878 468,076 337,582 467,673 - 34,706 374,598 876,977 3,224,392 - - - 493,410 493,410 350,000 645,431 13,086 34,706 1,365,377 2,058,600 4,380,050 (645,431) 645,431 645,431 7,054 200,000 200,000 (15,473) (109,001) (109,001) 820,128 166,278 (2,211,914) (956,645) 678,305 (278,340) 845,431 (1,065,646) 678,305 458,090 3,176,939 (990,062) 16,451 1,120, 395 3,323,723 - 207,054 (124,474) 541,788 624,368 1,111,809 - 227,503 401,553 11,894,066 12,523,122 11,411,313 $ - 434,557 277,079 12,435,854 ezm� 13,147,490 12,523,122 42 W Q Schedule 6 CITY OF MOORPARK, CALIFORNIA Statement of Revenues, Expenditures and Changes in Fund Balance — Budget and Actual Redevelopment Agency Capital Projects Fund Year ended June 30, 1998 Revenues: Property taxes Maintenance assessments Charges for current services Interest Other Total revenues Expenditures: General government Capital outlay Debt service — interest expense Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfers out Proceeds from long -term advances to Agency from City Total other financing sources (uses) Excess (deficiency) of revenues and other sources over expendi- tures and other uses Fund balance, July I Fund balance, June 30 See accompanying independent auditors' report. 43 Budget $ 1,312,347 107,424 1,419,771 442,532 145,608 500,000 1,088,140 331,631 (1,104,286) 431,382 (672,904) (341,273) Actual 1,574,393 65,431 114,030 431,630 21 2,185,505 497,369 374,598 493,410 1,365,377 820,128 (956,645) 678,305 (278,340) 541,788 11,894,066 11,894,066 $ 11,552,793 12,435,854 Variance — favorable (unfavorable) 262,046 65,431 6,606 431,630 21 765,734 (54,837) (228,990) 6,590 (277,237) 488,497 147,641 246,923 394,564 883,061 883,061 Schedule 7 CITY OF MOORPARK, CALIFORNIA Statement of Changes in Assets and Liabilities — Agency Fund — Developer Deposit Fund Year ended June 30, 1998 Developer Deposit Fund (500) Cash and investments Accounts payable and accrued liabilities Developer deposits See accompanying independent auditors' report. i✓�i Balance, July 1, 1997 $ 1,357,456 $ 115,473 1,241,983 Additions Deletions 3,926,554 893,777 3,032,777 4,099,969 834,564 3,265,405 Balance, June 30, 1998 1,184,041 174,686 1,009,355 $ 1,357,456 3,926,554 4,099,969 1,184,041 mwm� 44 rA w U z w �7 t)00307 RA, 4_ CITY OF MOORPARK Single Audit Reports Year ended June 30, 1998 (With Independent Auditors' Reports Thereon) 000308 CITY OF MOORPARK Single Audit Reports Year ended June 30, 1998 Table of Contents Page Independent Auditors' Report on Compliance with Requirements Applicable to Each Major Program and Internal Control over Compliance in Accordance with OMB Circular A -133 Independent Auditors' Report on Compliance and on Internal Control over Financial Reporting Based on an Audit of the Financial Statements in Accordance with Government Auditing Standards Supplementary Schedule of Expenditures of Federal Awards 4 Notes to Supplementary Schedule of Expenditures of Federal Awards 5 Schedule of Findings and Recommendations 6 Schedule of Prior Year Findings 7 00030 -9, IPllllf Peat Marwick LAP 725 South Figueroa Street Los Angeles, CA 90017 Independent Auditors' Report on Compliance with Requirements Applicable to Each Major Program and Internal Control over Compliance in Accordance with OMB Circular A -133 The Honorable City Council of the City of Moorpark: Compliance We have audited the compliance of the City of Moorpark (City) with the types of compliance requirements described in the U.S. Office of Management and Budget (OMB) Circular A -133 Compliance Supplement that are applicable to each of its major Federal programs for the year ended June 30, 1998. The City's major Federal programs are identified in the summary of auditors' results section of the accompanying Schedule of Findings and Recommendations. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility of the City's management. Our responsibility is to express an opinion on the City's compliance based on our audit. We conducted our audit of compliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States; and OMB Circular A -133, Audits of States Local Governments and Non - Profit Organizations. Those standards and OMB Circular A -133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major Federal program occurred. An audit includes examining, on a test basis, evidence about the City's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on the City's compliance with those requirements. In our opinion, the City complied, in all material respects, with the requirements referred to above that are applicable to each of its major Federal programs for the year ended June 30, 1998. Internal Control The management of the City is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and performing our audit, we considered the City's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A -133. VM 0003.0 A ,Y Member Firm of KPMG International Our consideration of the internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses. Supplementary Schedule of Expenditures of Federal Awards We have audited the general purpose financial statements of the City as of and for the year ended June 30, 1998 and have issued our report thereon, dated October 23, 1998. Our audit was performed for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The accompanying Supplementary Schedule of Expenditures of Federal Awards is presented for purposes of additional analysis as required by OMB Circular A -133 and is not a required part of the general purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated, in all material respects, in relation to the general purpose financial statements taken as a whole. This report is intended for the information of the members of the City Council, the City's management, as well as the City's Federal awarding agencies and the City's pass- through entities. However, this report is a matter of public record and its distribution is not limited. October 23, 1998 IC.�ht Bc -i�.eat 7�1 a�uicL.7�P 000 -311 KPIdIRPeat Marwick LLP 725 South Figueroa Street Los Angeles, CA 90017 Independent Auditors' Report on Compliance and on Internal Control over Financial Reporting Based on an Audit of Financial Statements in Accordance with Government Auditing Standards The Honorable City Council of the City of Moorpark: We have audited the general purpose financial statements of the City of Moorpark (City) as of and for the year ended June 30, 1998 and have issued our report thereon, dated October 23, 1998. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Compliance As part of obtaining reasonable assurance about whether the City's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. Internal Control over Financial Reporting In planning and performing our audit, we considered the City's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control over financial reporting that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its operation that we consider to be material weaknesses. However, we noted other matters involving the internal control over financial reporting that we have reported to management of the City in a separate letter dated October 23, 1998. This report is intended for the information of the members of the City Council, the City's management, as well as the City's Federal awarding agencies and the City's pass- through entities. However, this report is a matter of public record and its distribution is not limited. -k-PIM sc -Put #p October 23, 1998 A. V®®1/1Z Member Firm KPMG International Grant title U.S. Department of Housing & Urban Development – passed through the Ventura County Community Development Commission – Community Development Block Grant (1) CITY OF MOORPARK Supplementary Schedule of Expenditures of Federal Awards Year ended June 30, 1998 Accrued Pass - through grant Federal CFDA grantor's revenue number number June 30, 1997 14.218 B- 94 -UC -06- 0507 -13 S B- 95- UC -06- 0507 -J3 B- 97- UC-06- 0507 -2997M B- 98- UC-06- 0507 -2998M Total U.S. Department of Housing & Urban Development U.S. Department of Health & Human Services – passed through the Ventura County Agency on Aging Special Programs for the Aging – Title III, Part B Grants for Supportive Services and Senior Centers 93.044 U.S. Department of Health & Human Services – passed through the Ventura County Agency on Aging Special Programs for the Aging – Title V, Grants for Older Americans Community Service Employment Programs 17.235 U.S. Department of Justice – Supplemental Law Enforcement Services Fund – Local Law Enforcement Block Grant 16.710 Total expenditures of Federal awards (1) Denotes a major program. See accompanying notes to Supplementary Schedule of Expenditures of Federal Awards C W 36 -0427 - 079712112 V- 98- 07- 112 -1211 97LBVX2823 4 Accrued Grant grant revenue Grant revenue received expenditures June 30, 1998 49,983 — 111,139 18,732 18,732 — 31,087 18,732 210,941 — 8,591 525 4,899 49,983 120,985 60,063 231,031 8,929 5,998 9,846 38,822 338 1,624 — — 22,679 22,679 S 19,257 224,431 268,637 63,463 CITY OF MOORPARK Notes to Supplementary Schedule of Expenditures of Federal Awards Year ended June 30, 1998 (1) General The accompanying Supplementary Schedule of Expenditures of Federal Awards presents the activity of all Federal financial assistance programs of the City of Moorpark (the City). The City of Moorpark financial reporting entity is defined in note 1 to the notes of the City's general purpose financial statements. All financial assistance received directly from Federal agencies as well as Federal financial assistance passed through other government agencies to the City is included in the accompanying schedule. (2) Basis of Accounting The accompanying Supplementary Schedule of Expenditures of Federal Awards is presented using the modified - accrual basis of accounting for governmental funds and the accrual basis of accounting for enterprise funds, which is described in note 1 of the notes to the City's general purpose financial statements. (3) Relationship to the City's Annual Financial Report Amounts reported in the accompanying Supplementary Schedule of Expenditures of Federal Awards agree with corresponding Federal grant amounts reported within the City's Annual Financial Report. (4) Relationship to Federal Financial Reports Amounts reported in the accompanying schedule agree with the amounts reported in related Federal financial reports. S 000314 CITY OF MOORPA RK Schedule of Findings and Recommendations Year ended June 30, 1998 (1) Summary of Auditors' Results (a) The type of report issued on the financial statements: Unqualified Opinion. (b) Reportable conditions in internal control were disclosed by the audit of the financial statements: None. Material weaknesses: No. (c) Noncompliance which is material to the financial statements: No. (d) Reportable conditions in internal control over major programs: None reported. (e) The type of report issued on compliance for major programs: Unqualified Opinion. (f) Any audit findings which are required to be reported under Section 510(a) of OMB Circular A -133: No. (g) Major program: U.S. Department of Housing and Urban Development – Community Development Block Grant (CFDA No. 14.218). (h) Dollar threshold used to distinguish between Type A and Type B programs: Not applicable. Major program identified in order to meet 50% coverage rule. (i) Auditee qualified as a low -risk auditee under Section 530 of OMB Circular A -133: Yes. (2) Findings Relating to the Financial Statements Reported in Accordance with Government Auditing Standards None. (3) Findings and Recommendations Relating to Federal Awards None. 0®0315- CITY OF MOORPARK Schedule of Prior Year Findings Year ended June 30, 1998 None. 00®31, i