HomeMy WebLinkAboutAGENDA REPORT 2000 0216 CC REG ITEM 11DTO
FROM:
DATE:
ITEM 1 l • 'D•
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AC11ON: Ann�w //l
MOORPARK CITY COUNCIL
AGENDA REPORT
BY:
Honorable City Council
John E. Nowak, Assistant City Manager
27 January 2000 (Council Meeting of 02- 16 -00)
SUBJECT: Consider the FY 1998 -99 Annual Financial Report
BACKGROUND: The City is required to conduct an annual
independent audit of its financial statements. The firm of
Vavrinek, Trine, Day & Co., LLP conducted the audit this
year.
DISCUSSION: The firm of Vavrinek, Trine, Day & Co., LLP
conducted the independent audit of the City of Moorpark's
general financial statements for the fiscal year ended June
30, 1999. With the exception of a finding related to
complete records on the fixed assets of the General Fixed
Assets Account Group, the auditors' opinion is of
conformity with generally accepted accounting principals.
The issue of fixed asset records is being addressed with a
comprehensive fixed asset study being undertaken this year.
The report has been previously provided to Council.
STAFF RECOMMENDATION: To receive and file the City of
Moorpark Annual Financial Report for the year ended June
30, 1999.
000106
CITY OF MOORPARK
MOORPARK, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the fiscal year
July 1, 1998 through June 30, 1999
Prepared by: The Finance and Administrative Services Department
Vavrinek, 'Trine, Day & Co., LLP
Certified Public Accountants
CITY OF MOORPARK
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
CONTENTS
PAGE
GENERAL PURPOSE FINANCIAL STATEMENTS
Independent Auditors' Report
All Fund Types and Account Groups
Combined Balance Sheet
All Governmental Fund Types
Combined Statement of Revenues, Expenditures and Changes In Fund Balances 4
General, Special Revenue, and Certain Capital Projects Funds
Combined Statement of Revenues, Expenditures and Changes In Fund Balances -
Budget and Actual
Notes to General- Purpose Financial Statements
SUPPLEMENTARY SCHEDULES
All Special Revenue Funds
Combining Balance Sheet 26
Combining Statement of Revenues, Expenditures and Changes In Fund Balances 28
Combining Statement of Revenues, Expenditures and Changes In Fund Balances
(Deficits) - Budget and Actual 30
All Capital Projects Funds
Combining Balance Sheet 35
Combining Statement of Revenues, Expenses and Changes In Fund Balances 36
Redevelopment Agency Capital Projects Fund
Statement of Revenues, Expenditures and Changes In Fund Balance -
Budget and Actual 37
Agency Fund - Developer Deposit Fund
Statement of Changes in Assets and Liabilities 38
REQUIRED SUPPLEMENTARY INFORMATION
Year 2000 Disclosures (Unaudited) 39
CITY OF MOORPARK
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
CONTENTS (Continued)
STATISTICAL SECTION
PAGE
Revenues by Source - All Governmental Fund Types - Last Ten Fiscal Years 40
Expenditures by Function - All Governmental Fund Types - Last Ten Fiscal Years 41
Assessed Value of Taxable Property - Last Ten Fiscal Years 42
Secured Tax Charge and Delinquencies - Last Six Fiscal Years 43
Direct and Overlapping Bonded Debt as of Fiscal Year 1998 -99 44
Computation of Legal Debt Margin and Breakdown of General Property Tax Levy 45
City Population - Last Ten Years 46
Building Permit Valuation - Last Ten Fiscal Years 47
Largest Property Owners - Per Assessed Valuation 1998 48
Miscellaneous Statistics 49
Vavrinek, Trine, Day & Co., LLP
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INDEPENDENT AUDITORS' REPORT
The Honorable City Council
City of Moorpark
Moorpark, California
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We have audited the accompanying general - purpose financial statements of the City of Moorpark as of and for
the year ended June 30, 1999 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. Other auditor's audited the general - purpose financial
statement of the City of Moorpark, California as of June 30, 1998, whose report dated October 23, 1998
expressed an unqualified opinion on those statements.
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. 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.
The City has not maintained complete records relating to the fined assets of the General Fixed Asset Account
Group. Accordingly, we are unable to satisfy ourselves as to the fixed assets of the General Fixed Assets
Account Group amounting to $21,147,224.
In our opinion, except for the omission of the information discussed in the preceding paragraph, 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, 1999, and the results of its operations for the year then ended in
conformity with generally accepted accounting principles.
In accordance with Government Auditing Standards, we have also issued a report dated October 19, 1999 on our
consideration of City of Moorpark's internal control over financial reporting and our tests of its compliance with
certain provisions of laws regulations, contracts and grants.
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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 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.
The statistical information listed in the table of contents was not audited by us, and accordingly, we do not
express an opinion thereon.
The year 2000 supplementary information as included within the report, is not a required part of the basic
financial statements but is supplementary information required by the Governmental Accounting Standards
Board. We have applied certain limited procedures, which consisted principally of inquiries of management
regarding the methods of measurement and presentation of the supplementary information. However, we did
not audit the information and do not express an opinion on it. In addition, we do not provide assurance the City
of Moorpark is or will become year 2000 compliant, that the City of Moorpark's year 2000 remediation efforts
will be successful in whole or in part, or that parties with which the City of Moorpark does business are or will
become year 2000 compliant.
Rancho Cucamonga, California
October 19, 1999
This page left blank intentionally.
CITY OF MOORPARK
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 1999
(with comparative total figures at June 30, 1998)
The accompanying notes are an Integral part of these financiai statements.
3
GOVERNMENTAL FUND TYPES
Special
Capital
Debt
General
Revenue
Projects
Service
ASSETS AND OTHER DEBITS
Cash and Investments
S 3.299.093
S 22,766.694 S
7,938.892
Restricted cash and investments
S 803,23.1
Accounts and interest receivable, net
490.156
1,530.372
177,690
3.611
Taxes receivable
33.'11
Notes receivable
119,368
3,687,414
Due from other funds
187.913
1.364.703
Long -term advance in Redevelopment .Agency
.1.365.369
Other assets
4.000
Land held for resale
1,500,000
Property and equipment
Amount available for debt service
of general long -term debt
Total Assets
S 8.380.242
S 27 281.637 S
12.103,996
S 806.845
I.IABILITIFS
Liabilities
Accounts payable and accrued liabilities
818.687
409.399
729,600
Employees compensated absences payable
Deposits. principally tom developers
25.000
2.370
Due to other funds
1.552.616
Deferred revenue
62.326
452.769
Long -term advance from City General Fund
Tax allocation bonds payable
total Liabilities
881.51 ?
2 440.283
731,970
FlI \D 17QL Irl' - \\DOiHFR CRFDITS
Fund balances and other credits
Imestment in general fixed assets
Fund balances
Resened for %B939
501.466
Resened for unpaid grants
5.900
Reserved for encumbrances
101.704
7.321 516
136?59
Resened for receivables due alter one year. net
1 16.870
1,236.20.1
3.- 75.112
Resened for land held for resale
1.500.000
Resened for prepaid expenditures
Reserved for debt sery ices
M3.234
Resened for low moderate income housing
1,273.206
Reserved for advances in Redevelopment Agency
4,365 369
Resened tur park maintenance
L nrescned
Designated
109.0U2
6.189,632
Undesignaled
2.407,420
13 401.366
670.923
3.011
Total Fund Equity and Other Credits
7.498,'29
24.841.354
11.372.026
806.845
Total Liabilities and Fund Fquiry
S 8.380.242
5 27.281.637 E
12.103.990
S 806.845
The accompanying notes are an Integral part of these financiai statements.
3
FIDUCIARY
FUND
TOTALS
TYPE
ACCOUNT GROUPS
(Memorandum Only)
General
General -Long
Agency
Fixed Assets
Term Debt
1999
1998
$ 1,167,092
S 35,171,771 S
27,739.983
803.234
834,293
725
2.502.554
2.326.527
3 3.71 1
62,607
3,807,282
3,953,332
1.552.616
383.755
4.365.369
7,028.571
4,000
160.935
1,500.000
1,500.000
S 21,147,224
21,147.224
20,776.070
S
806.845
806.845
845.722
13.598.555
13.598.555
15.51 1.620
S 1.167.817
S 21.147,224 S
14,.105.400
S 85,293.161 S
81,123.415
240,848
2,199.034
1.165.355
180.031
180.031
178.771
926.969
954.331)
1.009.355
1.552.616
383.755
515.594
516.730
4,365.369
4,365.369
7,028.571
9.860.000
9.860.000
9.150.000
1.167.817
14.405.400
19,626.983
19.432.537
21.147.224
21.147.'_21
20.176,070
501.466
421.126
5.900
23.672
7.559.639
1,047.170
5.128.186
5.270,849
1.500.000
1.500.000
160.935
803.234
815.722
1,273.206
1.045.437
4,365.369
7.028.571
169.000
6,898.634
8.606.028
16,48 3.3 20
14, 796.298
21,147,224
65.666.178
61.690 878
S 1.167,817
S 21,147,224 S
14.101.400
S 85.293.161 S
81.123.415
3
This page left blank intentionally.
CITY OF MOORPARK
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
FOR THE YEAR ENDED JUNE 30, 1999
(with comparative total figures for the year ended June 30, 1998)
The accompanying notes are an integral part of these financial statements.
2
TOTALS
GOVERNMENTAL FUND TYPES
(Memorandum Only)
General
Special
Capital
Debt
Fund
Revenue
Projects
Service
1999
1998
REVENUES
Property taxes
$ 1,618,277
S 1,785.733
S 3.404,010
S 2.940,777
Sales taxes
1,486.749
1.486.749
1,363.626
Other taxes
35,332
S 560.353
595.685
574.919
Motor vehicle license fees
1.343.188
1.343.188
1,219.914
Utility franchise fees
859,302
859,302
762.076
Building and safety fees
290,234
290.234
324,749
Maintenance assessments
3.859,161
(2?50)
3.856.911
1.630996
Subventions and grants
104,804
744.285
849,089
1,170.287
Planning and public works fees
760,772
760,772
t.353.677
Park development fees
136,805
136.805
320.334
Charges for current services
332,173
198,950
112.299
643.422
606.388
Fines and forteitures
89,949
135.245
225.194
108.262
Interest
680,731
909.641
1.089.363
S 23.080
2.702,315
1.988,731
Other
361.440
30.965
22.495
-164.900
515.100
Total Revenues
6.91 1.945
7.676.411
3.007.640
23.080
17.619.076
14.879,836
EXPENDITURES
Current
General government
1,255,334
47.172
691.096
276
1.993.878
1,631,787
Public safety
3.102,834
3.102.834
3,026.724
Public services
190.920
2.667.025
290.319
3.148.264
3,599.360
Parks and recreation
1,339,118
7.600
38.658
1.385,376
1,381,058
Capital outlay
45,313
237,689
1.682.472
1.965.474
1,081.814
Debt service
Principal
163.202
2,500.000
240.000
2,903.202
225.000
Interest and fiscal
7,800
475.000
539.239
1.022.039
1.043,704
Cost of issuance
231.113
231.113
Total Expenditures
5,933.519
3.130.-188
5.677.545
1.010.628
15.752.180
1 1.989.447
EXCESS ( DEFICIENCY) OF REVENUES
OVER EXPENDITURES
978.426
4.545.923
(2.669.905)
(987.548)
1.366.396
2.390.389
OTHER FINANCING SOURCES (USES)
Operating transfers in
192.437
825.074
1.912516
709.266
3,646.293
2.090.335
Proceeds from bond issuance
9.737.134
9,737.1 34
Proceeds from special district dissolution
1,452.845
1.452.345
Proceeds from sale of city property
45.000
45.000
Operating transfers out
(296.649)
(2.324,569)
(1,025.075)
(3,646.293)
(2.090.335)
Payment to refunded bond escrow agent
(9. 497,729)
(9,-197.'29)
Proceeds from long term advance general fund
725.369
Total Other Financing Sources (Uses)
(59.212)
(46.650)
894.441
948.671
1,737.250
725.369
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
919.214
4,499.273
(1,775.464)
(38.877)
3,604.146
3.615.758
Fund Balances. Beginning of Year
6.579.515
20.342.081
13.147.490
845.722
40.914.308
37.299.050
Fund Balances. End of Year
S 7.498.729
S 24.841.354
S 11.372.026
S 806.845
S 44.518.954
S 40.914.808
The accompanying notes are an integral part of these financial statements.
2
CITY OF MOORPARK
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, AND CERTAIN CAPITAL PROJECTS FUNDS
FOR THE YEAR ENDED JUNE 30, 1999
The accompanying notes are an integral part of these financial statements.
GENERAL FUND
SPECL\L REVENUE FUNDS
Vanance
Variance
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
REVENUES
Property taxes
S 1.485.200
S 1.618.277
S 133.077
Sales taxes
1,400.000
1,486.749
86,749
Other taxes
32.500
35.332
2,832
S 520,000
S 560.353
S 39.753
Motor vehicle license fees
1,160,000
1,343,188
183.188
Utility franchise feex
'.70.931
859.302
88.371
Building and safety fees
396,133
290.234
1105.909)
Maintenance assessments
3.679,640
3.859.161
179.521
Subventions and grants
209.820
104.804
(105.016)
1.971.147
744,285
(1.226.862)
Planning and public works fees
1.123.354
760.'72
(372,682)
Park development fees
136.805
136.805
Charges for current >erx ices
296.000
332.173
36 173
349.500
198.950
(150.550)
Fines and forfeitures
90.000
89.949
(511
40.000
135,145
95,245
Interest
565.300
680.'31
1 14 931
732.900
909.641
166.731
Other
243.200
361.340
118.240
3.300
80.965
77,665
Total Rc�cnuc,
6.253.451
6.911.945
658.394
3.936.684
7.676.411
(1160.273)
EXPENDITURES
Current
General government
1 228.411
1.255.334
(26.923)
62.019
47.1'2
13.347
Public satcty
3.253178
3.102.814
151.444
Public services
264.661
190.920
-73.'4I
3.128_'57
2.067.025
1.461132
Parks and recreation
1.569.045
1 339.1 1.4
229.927
7.600
(7.600)
Capital outlav
41.288
45.313
14.025)
233.058
237.689
10. }69
Debt sery ice
Principal
163 _'02
I o 3 201
Interest and fiscal
7.800
7.800
Cost of issuance
Total Expenditurev
6.357683
5.933.519
424.164
3.609.336
1.130.388
1.37R.348
EXCESS (DEFICIENCY) OF REVENUES
OVER FXPENDITI'RES
1104.232)
978.420
1.082.658
4.127 348
4.545.023
218.575
OTHER FINANCING SOURCES (USES)
Operating transfers in
182.175
192.31'
10.262
518.011
825.074
t07 043
Proceeds from bond issuance
Proceeds from special district dissolution
1.464.000
1.352.345
(1 I.I 55)
Proceeds from sale of city propem
45.000
45.1)00
Advances from Cits
37.3-9
(87.3-8)
Operating transfers out
(382.096)
(296.(349)
85.447
(2.323.569)
(2.324.569)
Payment to refunded bond escrow agent
rota) Other I'mancmg Sources (I 'SCSI
(154.9211
159.212)
95.709
2.069.31)9
t46.05(J)
12.110.059)
EXCESS IDFFI('IEN( Y) OF REVENUFS
AND OHIER SO(IRCESOVFR
EXPEND] ILIRES AND Or1IFRUSES
S (259.153)
919.214
S 1.178.367
S 6.396.757
4,399173
S 11.997.4841
Fund 13alancec, Reeinn tie of Year
6.5'9.515
20 332.081
Fund Balances. End of Year
S 7.49 8. 29
S 24$41.3 s4
The accompanying notes are an integral part of these financial statements.
10.048.321 1.919.516 (8.128.805) 776.700 709.266
9.860,000 9,737,134
665.000 (665.000)
(1.046,781) (1,025.075) 21.706
(9,497,729)
9,666,540 894.441 (8.772.099) 10.636,700 948.671
(67.434) 11,525.227
(122,866) 9,860,000
1,464,000
45,000
752,378
(1,428,877)
(9,497,729)
(9.688.029) 22.217,728
3.640.293 (7.878.934)
9,737.134 (122.866)
1.452.845 (11.155)
45.000
(752.378)
(3.646.293) (2,217,416)
(9.497,729) (9.497,729)
1.73'.250 (20480.4781
S (2.555,772) (1,775.464) S 780,308 $ 9,480,001 (38.877) S (9,5(8,878) S 3.581.832 3.604.146 S 22.314
13.147.490 845.722 40.914.809
S 11.372.026 S 806.845 S 44518.954
5
TOTAL
CAPITAL PROJECTS FUNDS
DEBT SERVICE
(Memorandum Only)
Variance
Vanance
Variance
Favorable
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
S 1.350,000
S 1,785,733
S 435.733
S 2,835,200
S 3.404,010
S 568.810
1,400.000
1,486.749
86,749
553,100
595,685
42,585
1,160,000
1,343,188
183,188
770,931
859,302
88,371
396,143
290,234
(105.909)
(2,250)
(2.250)
3.679,640
3.856.911
177,271
2.180,967
849,089
(1.331,878)
1,233.454
760.772
(472.682)
136,805
136.805
106.929
112.299
5.370
752.429
643.422
(109,007)
130.000
225.194
95,194
466.500
1.089.363
622.863
S 23.500
S 23,080
S (420)
1,798.700
2.702.315
904,115
22.495
22,495
246.500
464,900
218.400
1.923,429
3.007.640
1,084.211
23.500
23.080
(420)
17,137.064
17.619.076
482.012
770,802
09(.096
79,706
276
(276)
2,061.232
1,993,878
67,354
3.254.278
3.102.334
151.444
786,1 10
290,319
495.791
5,179,028
3.148.264
2.030.764
31,999
38.658
(6.659)
1,601,044
1.385.376
215,668
9.581,830
1.682.472
7,899.358
9.871.176
1.965.474
7.905.702
2.500,000
2.500.000
240.000
240,000
2,903.202
2.903.202
475.000
475.000
560,199
539.239
20,960
1,042.999
1,022.039
20,960
380.000
231.113
148.887
380.000
231.113
148.887
14.145.741
5.677.545
8.468,196
1,180.199
1,010.628
169,571
26.292.959
15.752.180
10.540.779
(12.222.312)
(2,669.905)
9,552.407
(1.156,699)
(987,548)
169,151
(9.155,895)
1.366.896
11.022,791
10.048.321 1.919.516 (8.128.805) 776.700 709.266
9.860,000 9,737,134
665.000 (665.000)
(1.046,781) (1,025.075) 21.706
(9,497,729)
9,666,540 894.441 (8.772.099) 10.636,700 948.671
(67.434) 11,525.227
(122,866) 9,860,000
1,464,000
45,000
752,378
(1,428,877)
(9,497,729)
(9.688.029) 22.217,728
3.640.293 (7.878.934)
9,737.134 (122.866)
1.452.845 (11.155)
45.000
(752.378)
(3.646.293) (2,217,416)
(9.497,729) (9.497,729)
1.73'.250 (20480.4781
S (2.555,772) (1,775.464) S 780,308 $ 9,480,001 (38.877) S (9,5(8,878) S 3.581.832 3.604.146 S 22.314
13.147.490 845.722 40.914.809
S 11.372.026 S 806.845 S 44518.954
5
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #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.
A. Fund Types and Account Groups
• Governmental Fund Types
• General Fund: The General Fund is the general operating fund of the City. It is used to account for
all financial resources except those required to be accounted for in another fund.
• Special Revenue Funds: Special Revenue Funds are used to account for the proceeds of specific
revenue sources that are legally restricted to expenditures for specified purposes.
• Capital Project Funds: Capital Project Funds are used to account for financial resources to be used
for the acquisition or construction of mayor capital facilities.
• Debt Service Funds: The Debt Service Funds are used to account for the accumulation of resources
for, and the payment of, general long -term debt principal, interest, and related costs.
• Fiduciary Funds
• Agency Funds: Agency Funds are used to account for assets held by the City as an agent for
individuals, private organizations, other governments and/or other funds. The agency funds are
custodial in nature (assets equal liabilities) and do not involve measurement of results of operations.
The agency funds use the modified accrual basis of accounting.
B. Account Groups
• General Fixed Assets Account Group
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
General Long -Term Debt Account Group, which is used to account for unmatured long -term
indebtedness of the governmental fund types.
6
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Reporting Entity
The accompanying general - purpose financial statements include all accounts for the City and the
Redevelopment Agency. The City of Moorpark Redevelopment Agency is 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.
A component unit financial statement for the City of Moorpark Redevelopment Agency previously
described maybe obtained at 799 Moorpark Avenue, Moorpark, California 93021.
D. Basis of Accountin>;
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.
E. Interfund Transactions
In the course of normal operations, transactions occur among various City tends. 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 $4,365,369 at June 30,
1999, are to be repaid over a determinate 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. In July 1999, the City Council reduced the simple interest rate to 8 % annually
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE 1#1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
F. 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 limits equal to 7.8 percent of the I percent State
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 1 to June 30 of each year. All tax liens are 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 I 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.
G. 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. 1999. 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)
H. 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 5500 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.
1. 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.
I
CITY OF �iOOPPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
J. Encumbrances
Encumbrance accounting, under which purchase orders, contracts, and other commitments for the
expenditure of funds are recorded in order to reserve that portion of the applicable appropriation, is
employed in the governmental funds. Open encumbrances are recorded as reservations of fund balance
since the commitments will be paid by subsequent years' budget appropriations. Encumbrances do not
constitute expenditure or liabilities.
K. New Accounting Standards
In October 1997, GASB Statement No. 32, "Accounting and Financial Reporting for Internal Revenue Code
Section 457 Deferred Compensation Plans ", was issued. This Statement establishes accounting and
financial reporting standards for Internal Revenue Code (IRC) section 457 deferred compensation plans of
state and local governments. This Statement is effective for financial statements for periods beginning after
December 31, 1998, unless an entity complies with the requirements of subsection (g) of the Internal
Revenue Code 457 in an earlier period in which case application of this Statement is required for the
financial reporting period in which compliance occurs. Pursuant to the IRC 457 subsection (g), all amounts
of compensation deferred under the plan, all property, or rights are solely the property and nights of the
employee and beneficianes of the Plan. Deferred compensation funds are not subject to the claims of the
City's general creditors. The City compensation funds are not subject to the claims of the City's general
creditors. The City has established an eligible deferred compensation plan in accordance with subsection
(g) of the IRC Section 457, and accordingly has adopted this Statement for the 1999 fiscal year. Under the
provisions of this Statement, it is no longer considered appropriate to report the Section 457 plan in the
City's financial statements. The investments under the City's 457 plan as of June 30, 1999, were $702,092.
Finally, during 1999, GASB issued Technical Bulletin 99 -1, "Disclosure about Year 2000 Issue." This
bulletin requires disclosure of the stages of work in process and/or completed as of the end of the City's
reporting period to make computer systems and other electronic equipment critical to conducting operations
Year 2000 compliant. The City has elected to make these disclosures for the year ended June 30, 1999,
L. 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.
M. Reclassificattons
Certain reclassifications have been made to the comparative total amounts reported in prior years in order to
conform to the current year's presentation.
E
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #Z - 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 Capital Projects Funds.
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 form each fund. The budgetary
bans 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.
NOTE #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.
A. Deposits
The California Government Code requires California banks and savings and loan associations to secure a
cirv*s deposits by pledging government securities as collateral. The market value of pledged securities must
equal at least 110 percent 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 percent of a city's total deposits.
10
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #3 - CASH .4ND INVESTMENTS (Continued)
B. 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
• Small business administration loans
• Certificates of deposit (or time deposits) placed with commercial banks and/or savings and loan
companies
• Negotiable certificates of deposit
• Bankers' acceptances
• Commercial paper
• Local Agency Investment Fund (LAIF)
• Repurchase agreements, Passbook savings accounts
• Reverse - repurchase agreements
As of and for the year ended June 30, 1999 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.
The City's cash and investments at June 30, 1999 are as follows:
Unrestricted cash and investments 35,171,771
Restricted cash and investments Rol 7111
Total Cash and Investments $35,975.005
The cash and investments are aggregated as follows:
Deposits 826,312
Petty Cash 660
Investments 35,148,033
Total $ 35,975,005
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #3 - CASH AND INVESTMENTS (Continued)
The City's deposits at June 30, 1999 are categorized in the following table:
BANK BALANCE -
CATEGORY BANK CARRYING
l 2 3 BALANCES AMOUNTS
Categorized
Deposits held with banks $ 151,350 $ 589,956 S 741,306 S 826,312
Total $ 151,350 $ 589,956 $ 741,306 S 826,312
Category l: 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" name.
Category 3: Deposits which are uncollaterlized, or collateralized with securities held by the pledging
financial institution or by its trust department or agent but not in the City's name.
The City's investments at June 30, 1999 are categorized in the following table:
Investments held in trust by
fiscal agents on behalf of the
City of Moorpark (restricted
assets) - investment agreement
Fidelity Money Market Fund
State Treasurer's Local Agency
Investment Fund (1)
Total
Not Carrying
Required Amount
CATEGORY to be at Fair
(1) (2) (3) Categorized Value
$ 771,100 S 771,100
8.692,655 8,692,655
25,684,278 25,684,278
$ $ $ S35,148,033 S 35,148,033
WA
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #3 - CASH AND INVESTMENTS (Continued)
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, 1999, 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.
(1) The management of the State of California Pooled Money Investment Account (generally referred to as
LAIF) has indicated to the City that as of June 30, 1999, the carrying amount of the pool was
$36,849,505,673 and the estimated market value for the pool (including accrued interest) was
$37,020,937,097. The City's proportionate share of that value is $25,684,278. Included in LAIF's
investment portfolio are certain derivative securities or similar products in the form of structured notes
totaling $1,524,350,000, and asset - backed securities totaling $351,942,000. LAiF's (and the City's)
exposure to risk (credit, market or legal) is not currently available.
Fair Value of Investments
Accounting pronouncement GASB Statement 31 generally applies to investments in external investment
pools (State of California LAIF & county treasury investment pools), investments purchased with maturities
greater than one year, mutual funds, and certain investment pools. Generally, governmental entities need to
report the "fair value" changes for these investments at year -end and records these gains or losses on their
income statement.
State of California State Treasurer's Local Agency Investment Fund (LAIF): The City holds an investment
to LAM that is subject to being adjusted to "fair value ". The City is required to disclose its methods and
assumptions used to estimate the fair value of its holdings in LAIF. The City relied upon information
provided by the State Treasurer in estimating the City's fair value position of its holding in LAIF. The City
had a contractual withdrawal value of $25,684,278 whose pro -rata share of fair value was estimated by the
state Treasurer to be $25,684.278. The fair value change in this investment for the year came to an amount
that was not material for presentation in the financial statements.
The State Treasurer's Local Agency investment Fund ( "LAff ") is a governmental investment pool managed
and directed by the California State Treasurer and is not registered with the Securities and Exchange
Commission. An oversight committee, comprised of California State officials and various participants,
provide oversight to the management of the fund. The daily operations and responsibilities of LAW fall
under the auspices of the State Treasurer's office. The City is a voluntary participant in the investment pool.
13
CITY OF NIOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #4 - LONG -TERM DEBT
The following is a schedule of changes in long -term debt for the fiscal year ended June 30, 1999:
Employee compensated absences payable
1993 Tax Allocation Bonds
Long -term advances from the General Fund
1999 Tax Allocation Bonds
Totals
A. Employee Compensated Absences Payable
Balance
Beginning of
Year Additions
5 178,771
9,150,000
7,028.571
Balance
End of
Deletions Year
6,090 S 4,830 $ 180,031
9,860,000
9,150,000
2,663,202 4,365,369
9,860,000
$16,357.342 59,866,090 $1 1,818,032 $14,405,400
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.
B. Defeased Debt
On Nlay 6, 1999 the Redevelopment Agency of the City of Moorpark (the Agency) issued the 1999 Tax
Allocation Refunding Bonds of $9,860,000 with interest rates ranging from 3.05% to 4.85% to advance
refund the 1993 Tax Allocation Bonds with interest rates ranging from 3.30% to 6.0 %. The Agency issued
the 1999 refunding bonds to provide resources to purchase U.S. government securities that were deposited
in an irrevocable trust with an escrow agent for the purpose of generating resources for all future debt
service payments of the refunded debt. The advance refunding met the requirements of an in- substance
defeasance and as a result, the refunded bonds are considered defeased and the liability has been removed
from the general long -term debt account group. This advance refunding was undertaken to reduce total debt
service payments over the next 20 years by $230.836 and to obtain an economic gain (the difference
between the present value of the debt service payments of the refunded and refunding bonds) of $181,304.
14
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #4 - LONG -TERM DEBT (Continued)
C. 1999 Tax Allocation Bonds
In 1999, the Redevelopment Agency issued a $9,860,000 aggregated principal amount of Moorpark
Redevelopment Project 1999 Tax Allocation Refunding Bonds (the Bonds). The purpose of the Bonds was
to advance refund the Agency's previously issued $10,000,000 Moorpark Redevelopment Project, 1993 Tax
Allocation Bonds. The purpose of the 1993 Bonds was to finance a portion of the costs of implementing the
Redevelopment Plan, including low -and moderate - income housing projects. The 1999 Bonds bear interest
at rates ranging from 3.05 percent to 4.875 percent per annum, payable semi - annually on April 1 and
October 1 of each year, commending on October 1, 1999 and are subject to mandatory sinking fund
redemption commencing on October 1, 2009 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.
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.
Debt service payments on the 1999 Tax Allocation Refunding Bonds payable will be made from the Debt
Service Fund. Annual debt service requirements to maturity are as follows:
Fiscal Year Ending
June 30.
2000
2001
2002
2003
2004
Thereafter
Total
15
Principal Interest
Total
$ 320,000
$ 394,303
$ 714,303
345,000
420,193
765,193
355,000
408,638
763,638
365,000
396,124
761,124
380,000
382,710
762,710
8,095,000
3,248,068
11,343,068
S 9,860,000
$ 5,250,036
$ 15,1 10,036
CiTY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #4 - LONG -TERM DEBT /Continued)
D. Advances from the General Fund
The City's General Fund has paid for services and start -up expenditures incurred by the Redevelopment
Agency. These advances accrue interest at 10 percent and are to be repaid over and indeterminate penod.
During the 1998 -99 fiscal year, the Agency paid down the advances due to the General Fund. The Low and
Moderate Housing fund paid off the short-term advance of $ I63,202, and the Agency Capital Projects fund
paid down $2,500,000 of its advance leaving a balance of $865,369. The total advances outstanding at June
30, 1999 include the remaining Capital Projects advance of $865,369, plus the long -term portion discussed
above of $3,500,000. The balance of advances from the General fund totaled $4,365,369 at June 30, 1999.
NOTE #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
percent 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.
NOTE #6 - AGREEME.NTS WITH VARIOUS TAXING AGENCIES
The Moorpark Redevelopment Agency has entered into five (5) agreements for allocation and distribution of tax
increment revenues. The Agency has entered into an agreement with the County of Ventura, Ventura County
Library District. Ventura County Fire Protection District, and Ventura County Flood Control District
(collectively. the "County Taxing Entities ") which provides for the Agency to retain 100% of the County Taxing
Entities share (55.82 %) of annual tar increment revenues up to $1,750,000. For annual tax increment revenue
in excess of $1,750,000, the Agency shall distribute 55.85% of such revenues to the County on behalf of the
County Taxing Entities. The County Taxing Entities have agreed to defer payments in the initial years of the
Redevelopment Plan, and consequently, the parties agree that the County Taxing Entities may receive payments
in any single fiscal year in excess of the amount of tax revenues the County Taxing Entities would otherwise be
entitled to, but for the adoption of the Redevelopment Plan. Additionally, the agreement calls for the Agency to
receive a 51,000,000 payment from the tax increment disbursed to the County pursuant to the agreement, by
December 31, 2008, if and only if the Agency's annual debt statements which are filed with the County Auditor -
Controller from fiscal year 1993 -94 to fiscal year 2008 -09 list debts in an amount equal to or in excess of the
maximum tar increment available to the :'Agency in each of such fiscal years.
16
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #6 - AGREEMENTS WITH VARIOUS TAXING AGENCIES (Continued)
The second agreement is with the City of Moorpark Vector Control, formerly known as the Moorpark Mosquito
Abatement Distract and state that the City of Moorpark Vector Control shall receive 87.5% of its share (1.53 %)
of annual tax increment revenue. The City of Moorpark Vector Control has agreed to contribute its pro rata
share of the Agency's required annual payment to the Agency.
The third agreement is with the Moorpark Unified School Distract (the "School District "), and states that the
School Distract shall receive, after the Agency has satisfied debt service payments to bond or note holders or to
the holder of any other instruments of Agency indebtedness (provided such indebtedness is not reasonable
foreseeable to impair the Agency's obligation under the agreement), the School District's share (33.31 %) of tax
increment revenues generated by an annual 2% increase in assessed valuation, and beginning in fiscal year
1995 -96, 14% of the School District's share of annual tax increment revenue. Additionally, the agreement calls
for the Agency to make a one -time $750,000 payment to the School Distract as a contribution to a new School
Distract maintenance facility, at a future date. Under a separate agreement between the City and the MUSD, all
School District share of tax increment revenues shall be payable to the City until one -half of the cost of tennis
courts constructed in AUPC (estimated at $331,000) has been paid.
The fourth agreement is with the Ventura County Community College District (the "Community College
District "), and states that the Community College Distract will receive, after the Agency has satisfied debt
service payments to bond or note holders or to the holders of any other instruments of Agency indebtedness
(provide such indebtedness is not reasonable foreseeable to impair the Agency's obligation under the
agreement), the Community College District's share (5.80 %) of tax increment revenues generated by an annual
2% increase in assessed valuation, and. beginning in fiscal year 1993 -94, 14% of the Community College
District's share of annual tax increment revenue.
The fifth agreement is with the Ventura county Supenntendent of Schools Office (the "Supenntendent "), and
states that the Supenntendent shall receive its share 910.28 %) of tax increment revenues generated by an annual
2% increase in assessed valuation.
NOTE #7 - RETIREMENT PLAN
A. 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 (CaiPERS), and agent -
multiple- employer plan administered by CaiPERS, 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. CAPERS issues a separate
comprehensive annual financial report. Copies of the CalPERS' annual financial report may be obtained
from the Ca1PERS Executive Office - 400 P. Street, Sacramento, CA 95814.
17
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #7 - RETIREMENT PLANS (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 a defined deferred compensation program). 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 percent at age 50 to a maximum of
2.7 percent at age 55 for safety employees, and 1.092 percent at age 50 to a maximum of 2.418 percent at
age 63 for non -safety employees, of the employees' average of the three highest year's salary for each year
of credited service. The Plan also provides death and disability benefits.
B. Funding Policv
Active plan members in the Plan are required to contribute 7.00 percent of their covered salary. The City of
Moorpark is required to contribute the actuanally 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, 1999
was 4.3 1 1 percent. The contribution requirements of the plan members are established by State statute and
the employer contribution rate is established and may be amended by CaiPERS.
C. Annual Pension Cost
For the year ended June 30. 1999. the City of Moorpark's annual pension cost and its actual contributions
were $91.092. The City also contributed S 145,664 on behalf of employees. Employees directly contributed
$0. Total contributions were $236,756. The required contribution for the year ended June 30, 1999 was
determined as part of the June 30, 1997 actuarial valuation using the entry age normal actuarial cost method
with the contributions determined as a percent of pay. The actuarial assumptions included (a) 8.25 percent
investment rate of return (net of administrative expenses); (b) projected salary increases that vary by
duration of service ranging from 4.5 percent to 14.95 percent and (c) 4.5 percent cost -of- living adjustments.
Both (a) and (b) include an inflation component of 4.5 percent. The actuarial value of the Plan's assets were
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, 1998 was three years.
18
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #7 - RETIREMENT PLANS (Continued)
Three Year Trend Information
Annual Pension Cost
Fiscal Year Ending (APC)
6/30/96 $82,374
6/30/97 $16,111
6/30/98 $0
Funded Status of the Plan
Percentage of APC
Contributed
NOTE #8 - PROPERTY AND EQUIPMENT
100%
100%
100%
Net Pension
Obligation
$0
$0
$0
Annual UAAL As a
Funded
Entry Age
% of
Unfunded
Payroll
Normal
Actuarial
(Overfunded)
(14.38)%
Accrued
Value of
Liability
Valuation Date
Liability
Assets
(UAAL)
6/30/96
$ 1,787,608
$2,028,298
($240,690)
6/30/97
$2,029,821
$2,728,583
($698,762)
6/30/98
$2,359.258
$3,504,389
($1,145,131)
NOTE #8 - PROPERTY AND EQUIPMENT
100%
100%
100%
Net Pension
Obligation
$0
$0
$0
Annual UAAL As a
Funded
Covered
% of
Ratio
Payroll
Payroll
113.5%
$1,674,361
(14.38)%
134.4%
$1,746,190
(40.02)%
148.5%
$2,119,784
(54.02)%
A summary of changes in general fixed assets for the year ended June 30, 1999 follows:
Land
Buildings and structures
Improvements other than buidlings
Office furniture and equipment
Other equipment
Totals
Balance
Balance
Beginning of
End of
Year
Additions
Deletions Year
$ 9,829,913
$ 156.126
$ 45,000 $ 9,941,039
3,707,768
5,007
3,712,775
5,395,709
5,395,709
971,568
96,649
1,068,217
871,112
158,372
1,029,484
$ 20,776,070 $ 416,154 $ 45,000 $ 21,147,224
19
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #9 — INTERFUND TRANSACTIONS
A summary of operating transfers and interfund receivables /payables as of and for the year ended June 30, 1999
is included in the following table:
General Fund
Special Revenue Funds
Traffic System Management Fund
Citywide Traffic assistance
Local Transportation Streets Fund
Local Transportation Transit Fund
Assessment District Fund
Park Development
Areas ofContrtbution Fund
Low- and Moderate- Income Housing Fund
State Gas Tax Fund
State Transit Assistance
CDBG Entitlement Fund
Operating Operating Due From Due To
Transfers In Transfers Out Other Funds Other Funds
S 192,437 $ 296.649 $ 187,913
Total Special Revenue Funds 825,074 2,324,569 1,364,703 1.552,616
Capital Projects Funds
Capital Projects Funds
Equipment Replacement Fund
Redevelopment Agency Fund
Total Capital Projects Funds
Debt Service Fund
Total
1,919.516
20,081
1,004,994
1,919,516 1,025,075
709,266
S 3,646,293 $ 3,646,293 $ 1,552,616 S 1,552,616
20
35.529
7.554
427.1 19
602
6,922
S 11,913
13,320
42,461
235.713
743,324
176,000
1,036.616
1,364.703 1,322,242
295,728
293,031
12.570
1.843
39.772
Total Special Revenue Funds 825,074 2,324,569 1,364,703 1.552,616
Capital Projects Funds
Capital Projects Funds
Equipment Replacement Fund
Redevelopment Agency Fund
Total Capital Projects Funds
Debt Service Fund
Total
1,919.516
20,081
1,004,994
1,919,516 1,025,075
709,266
S 3,646,293 $ 3,646,293 $ 1,552,616 S 1,552,616
20
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #10 - COMMITMENTS AND CONTINGENCIES
A. 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
comirutments total approximately $3,107,000 for the year ended June 30, 1999.
B. 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.
The City has received State and Federal funds for specific purposes that are subject to review by the grantor
agencies. Although, such audits could generate expenditure disallowance's under the terms of the grants, it
is believed that any disallowed amounts will not be material.
NOTE #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 I, 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 percent of the units of the
project financed with the bonds are made available to persons and families with incomes not exceeding 80
percent of the County median income and another 10 percent of the units for persons and families with income
not exceeding 50 percent of the County median income. The units were available under this program for a 30-
year penod. 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, 1999.
21
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #11 - RESIDENTIAL MORTGAGE AND INDUSTRIAL REVENUE BONDS (Continued)
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 56,795,000 at June 30, 1999.
Each of the bond programs described above do not constitute and 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 trom 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.
NOTE #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 52,595,000, 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 tares as part of the secured property tax bill for properties in the assessment district, will
be forwarded to an independent bank that serves as the paving 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 52,080,000 at June 30, 1999.
On July 1, 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 57,645,000, 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 percent to 6 percent per annum on March l and September 1 of
each year commencing march 1, 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 tiscal 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 57,630,000 at June 30, 1999.
22
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #12 - SPECIAL ASSESSMENT BONDS (Continued)
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 form 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 percent, 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.
NOTE #13 - RISK MANAGEMENT
A. Description of Self - Insurance Pool Pursuant to Joint Powers Agreement
The City is a member of the California Joint Powers Insurance Authonty (Authority). The Authority is
composed of 84 California public entities and is organized under a joint powers agreement pursuant to
California Government Code 6500 et seq. The purpose of the Authority is to arrange and administer
programs for the pooling of self - insured losses, to purchase excess insurance or reinsurance, and to arrange
for group- purchased insurance for property and other coverages. The Authority's pool began covering
claims of its members in 1978. Each member government has an elected official as its representative on the
Board of Directors. The Board operates through a 9- member Executive Committee.
B. Self - Insurance Programs of the Authori ty
General Liability: Each member government pays a primary deposit to cover estimated losses for a fiscal
year (claims year). Six months after the close of a fiscal year, outstanding claims are valued. A
retrospective deposit computation is then made for each open claims year. Costs are spread to members as
follows: the first $20,000 of each occurrence is charged directly to the member; costs from $20.001 to
$500,000 are pooled based on a member's share of costs under $20,000; costs from $500,001 to $5,000,000
are pooled based on payroll. Costs of covered claims above $5,000,000 are currently paid by reinsurance.
The protection for each member is $50,000,000 per occurrence and $50,000,000 annual aggregate.
23
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #13 - RISK MANAGEMENT
Workers Compensation: The City also participates in the workers compensation pool administered by the
Authority. Pool deposits and retrospective adjustments are valued in a manner similar to the General
Liability pool. The City of Moorpark is charged for the first $25,000 of each claim. Costs are pooled above
that level to $50,000. Costs from $50,001 to $100,000 per claim are pooled based on the member's losses
under its retention level. Costs between $100,001 and $500,000 per claim are pooled based on payroll.
Costs in excess of $500,000 are paid by excess insurance purchased by the Authority. The excess insurance
provides coverage to statutory limits.
C. Purchased Insurance
The City of Moorpark participates in the all -risk property protection program of the Authority. This
insurance protection is underwritten by several insurance companies. The City of Moorpark property is
currently insured according to a schedule of covered property submitted by the City of Moorpark to the
Authority. Total all -risk property insurance coverage is $7,936,610. There is a 55.000 per loss deductible.
Premiums for the coverage are paid annually and are not subject to retroactive adjustments.
D. Adequacy of Protection
During the past three fiscal (claims) years none of the above programs of protection have had settlements or
judgments that exceeded pooled or insured coverage. There have been no significant reductions in pooled
or insured liability coverage from coverage in the prior year.
NOTE #14 - FUND BAL,4NCES
The State Gas Tax Special Revenue Fund has designated $109,002 for replacement of equipment. The
Redevelopment Agency has designated 56.789.632 of fund balance in the Redevelopment Agency Capital
Projects Fund for business incentives and future capital projects.
NOTE #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.
24
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #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.
NOTE #17 — EXCESS OF EXPENDITURES OVER APPROPRIATIONS
The following funds had an excess of expenditures over appropriations at June 30, 1999.
Appropnation Expenditure Difference
Special Revenue Funds:
Traffic System Management
Citywide Traffic Mitigation
Crossing Guard
Park Development
CDBG Entitlement
Other Grants
25
$ -
$
603
$
603
$ -
$
10,068
$
10,068
$ 9.426
$
10,820
$
1,394
$ -
$
7,600
$
7,600
$ 3,000
$
44,490
$
41,490
$ 13,601
$
13,950
$
349
CITY OF MOORPARK
COMBINING BALANCE SKEET
ALL SPECIAL REVENUE FUNDS
JUNE 30, 1999
(with comparative total figures at June 30, 1998)
ASSETS
Cash and Imestments
Accounts and interest receivable, net
Notes recet%,able
Due from other funds
Land held for resale
Total Assets
LIABILITIES
Liabilities
Accounts payable and accrued I abilities
Deposits. principally from de�.elopers
Due to other funds
Deferred roenuc
Total Liabilities
FUND BALANCES
Fund balances
Rcscr%ed for encumhranccs
Resemed for recer.ables due after one year, net
Resmcd for land held for resale
Resencd for lock moderate income housing
l.nresersed
Designated
Ilndestgnated
Total Fund Balance.
total Ltanduic< and Fund Balances
Traffic Citywide Local
Traffic System Traffic Transportation
Safety Management Mitigation Streets
5 101,556 5 1,086.631 5 1,210.-196 5 2.243.558
20,740 8.558 9,530 17.153
119.868
5 122.296 S 1,215.057 S 1,220.026 5 2,260.711
1.798
119.868 97, 500
1.798 119.869 97.500
1 .797,1 3'f
120.498
1.095.189
1,220.026
366,072
120.498
1.095.189
1,220,026
2,163.211
5 122,29b
S 1.215.05%
S 1,220,026 $
2,260. ?11
26
Local Low and
Transportation Crossing Assessment Areas of Park Community Affordable Moderate
Transit Guard Distnct Contnbutions Development Development Housing Income Housing
S 108,176 S 372,618 S 7,528,589 S 797,833 S 360.384 S 559,402 $ 1,290,861
S 75.953 872 25,356 1,025,761 10,954 18,423 66,733 155,821
1,364,703
1,500,000
S 75,953 S 109,048 S 397,974 S 9,919,053 S 808,787 S 378,807 S 626,135 S 2,946,682
19,792
97,452 1,392 180,775 547 8.192
2,523.566
25,000
11,913
42,461 1,322,242 176,000
44.248
188,351 2.801
75.953
139,913 1,511,985 178,801 180,775 547 33.192
5.000 5.097,342 247,530 77,183
786.160 234.619
75,141 140,284
1.500.000
1,273,206
109,048
253,061
2,523.566
147,837
120.849
550.447
109.048
258.061
8,407.068
629.986
198.032
625,588 2,913.490
S 75.953 S 109,048 S
397,974
$ 9.919,053 S
808.787 S
378.807 S
626.135 S 2,946,682
26
CITY OF MOORPARK
COMBINING BALANCE SHEET (Continued)
ALL SPECIAL. REVENUE FUNDS
JUNE 30, 1999
(with comparative total figures at June 30, 1998)
ASSETS
Cash and Investments
Accounts and interest receivable, net
Notes receivable
Due from other funds
Land held for resale
Total Assets
LIABILITILS
Ltabihiies
Accounts payable and accrued hubilntes
Deposits. principally Crum dccelopers
Due to other funds
Deferred revenue
Total Liabilities
FUND BALANCES
Fund balances
Reserved for encumbrances
Reserved for recce abler due after one year. net
Reserved for land held for resale
Reserved for Iovmmoderate income housing
Unreserved
Designated
l:ndesignated
Total Fund Balance.
Total Liabilities and Fund Balances
27
State State rransportatton
Gas Transit Development CDBG
Tax Assistance Act (Article 3) Entitlement
S 1,859.637 S 63.435 $ 97.047 S 17.108
20,605 512 768 15,179
S 1,880.242 S 63.947 S 97,815 S 32.287
48.961
48.961
97.382
32.287
11.287
109.002
1,624.897 63.947 97.815
1,831,281 63.947 97,815
S 1.880.242 S 63.947 S 97.815 S 32.287
Police TOTALS
Other Facilities Fee
Grants Endowment Fund 1999
1998
S 20,994 4,367,566 S 680,803 S 22,766.694 S 18.251,662
24,586 27,485 5,383 1,530,372 1,703,790
119,868 119,868
1,364,703 42,461
1.500,000 1,500,000
S 45,580 S 4,395,051 S 686.186 S 27,281.637 S 21,617,781
4,542 14,161 409,899
408,059
25,000
25,000
1,552,616
383.755
452,768
458.886
4,542 14,161 2,440,283
1,275.700
7,321,576
979,434
1,236.204
1,232,897
1,500.000
1,500,000
1,273.206
1.045,437
109,002 109,002
45,580 4,390.509 672.025 13,401.366 15,475,311
45,580 4.390.509 672.025 24,841,354 20.342,081
S 45,580 S 4.395.051 S 686.186 S 27,281,637 S 21,617,781
27
CITY OF IVIOORPARK
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
(with comparative total figures for the year ended June 30, 1998)
REVENUES
Other taxes
Building and safety fees
Maintenance assessments
Subventions and grants
Planning and public works fees
Park development fees
Charges for current scr. ices
Fines and forfeitures
Interest
Other
focal Resenues
EXPENDITURLS
Current
General - o%cmmeni
Public services
Parks and recreation
Capital outlay
Debt ser%ice
Principal
Interest and fiscal
Total Lspenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES IUSL•S)
Operating iranstcrti in
Proceeds from special district dissolution
Operating transter; out
total Other Financing Sources (Uses)
EXCESS (DEFICIEWY)OF REVENUFS
AND 01 HER SOURCES OVER
FXPLNDfrI!RFS AND OTHER USES
Fund Balances. BeLinnine of Year
Fund Balances. End of Year
Traffic Crtyrnvide Local
Traffic System Traffic Transportation
Safety Management Mitigation Streets
5 24,916 S 107,839
S 504,479
S 134,24;
3.171 48,095 52.058 94.647
2.472 320
139.889 73.011 159.897
40.095
31.568 603
1.037
10.068
72.700 603 10.068
67.188 72.-108 149.829 599.416
(35.529) (7.554) (127.119)
( 35. >29) (7,554) 1427.119)
67,188
36,879
142.275
172,327
53.311)
1,058.310
1,077,751
1,090,381
E 120.498 S
1.095.189 5
1.220.026 S
2,163.211
28
Local Low and
Transportation Crossing Assessment Areas of Park Community Affordable Moderate
Transit Guard District Contributions Development Development Housing Income Housing
5 7,613
212,886
$ 688,829 S 21,797 S 15,780
S 155,544
16,940
134,114
28 S 5,036 13,486
378,202
65 446 6,637
12,895
172,577 5,-182 708,952
547,008
167,520 10,508 589,200 15,894
96,210 312 2,000
263,730
10.820
589.200
17,894
47,691
28,505
95,884
1,000
(91.153)
(5.338)
119,752
529,114
602
(6.922) (13.320) (1,036,616)
(0,120) (13.320) (1,036.616)
(97,473) (5,338)
760.772
136,805
7,600
47,691
28,505
95,884
1,000
40,161
S 37,042 S 66,971
10,586
20,181 2,566 226
251.023
1.002.452 39.608 67.197
(97,473) (5,338)
1,057,209 11.103
50,377
7,600
(67,565)
28,505
95,884
12,808
45.662
8,91 -1,570
894,174
163,202
597,083
2,817,606
7,800
7.600
1,070,017 11.103
267,041
198.032
S 625,588 S
2,913,490
243,423
(67,565) 28.505
(199,844)
235,713
295,728
(743.324)
(507,611)
295.728
(97,473) (5,338)
)06,432
(507,502)
(264,)88)
(67,565)
28,505
95,884
97,473 114,386
151,629
8,91 -1,570
894,174
265,597
597,083
2,817,606
S S 109,048 S
258,061
S 8,407,068 S
629,986 S
198.032
S 625,588 S
2,913,490
28
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
(with comparative total figures for the year ended June 30, 1998)
29
State
State
Transportation
Gas
Iransit
Development
CDBG
Tax
Ass stance
Act (Article 3)
Entitlement
REVENUES
Other taxes
S 552,740
Building and safety fees
Maintenance assessments
Subcenuons and grants
3 84.262
Planning and public works fees
Park development fees
Charges Im current services
205
Fines and torteitures
Interest
77.097 S
2.884
S 4.304
Other
1 7.499
647.5,11
2,88,1
4,304
81.262
Total Rc%enucs
EXPENDITURES
Current
General gm cmmcnt
Public Dery cgs
582 'h?
Parks and recreation
Capital outlay
15.626
14;1911
Debt )erCll:e
Principal
Interest and fiscal
Total Lxpenditures
597,889
44,190
EXC'FSS (DEFI('IENCY)OF RFVFNUES
OVER LXPLNDIIURES
19.652
2.884
4.304
39•72
OTHER FINANCING SOURCES (USES)
Operating transters in
293.011
Proceeds from special distnct dissolution
Operating trantifcrs out
(12.-;70)
(1.8-13)
Fowl Other Financing Sources tUses)
280.461
(1,843)
(39•772)
EXCESS 1DF-I•ICILN( Y) OF RE\/ F.NUF:S
AND Ol HER SOLRCLS OVER
EXPENDITURFS AND OTHER USES
330,113
1,041
4,304
Fund Balances. Beginning ol'Ycar
1.501.1(,8
62.01)6
93.511
Fund Balance, I-nd of Year
S 1.831 '81 S
63.947
S 97,815
S
29
Other
Grants Endowment
Police
Facilities Fee
Fund
TOTALS
1999
1998
7,600
S
560,353 S
541,420
163,202
S 77,348
290,234
324,749
S 3.000,000
3.853.987
3,859,161
1,560,965
744,285
1,069,026
760,772
1,353,677
136,805
320,334
198,950
31,039
135.245
41,375
57,354
29,105
909,641
935.977
7,072
80,965
16.907
3.064,126
106.453
7.676,41 1
6,195.469
7,077 47,172
37,313
S 13.950 126,762 2,667,025
3,134,400
7,600
589.286
19.544 237,689
92,988
163,202
(654,468)
7,800
(123.361)
13.950 126,762 26.621 3.130.488
3.853.987
(13.950) 2,937.664 79,832 4,545.923
2,341,482
4,499,273
2,218,121
825.074
484,043
1,452,845 1,452.845
47,064
(2,324,569)
(654,468)
1,452,845 (46,650)
(123.361)
(13,950) 4,390,509
79.832
4,499,273
2,218,121
59,530
592.193
20,342.081
18,123.960
S 45.580 S 4,390,509
S 672.025
S 24,841,354
S 20,342,081
29
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES (DEFICITS) - BUDGET AND ACTUAL
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
30
Traffic
Trarrc
System
Safety
Management
Variance
Variance
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
Wnfavorable)
REVENI FS
Other taxes
Building and safety fees
Maintenance assessments
S 24.916
S 24.916
Subventions and grants
Planning and public works fees
Park development lees
Charges for current services
Fines and forfeitures
S 40.000
S 134,245
S ')4.245
Interest
2.800
3.171
371
S 54.001)
48.095
(5.905)
Other
2.472
2.472
Total Revenues
42.800
1 39.388
97 088
54.000
73.011
19.011
EXPF.NDITI:RFS
Current
General government
47.019
40.095
6.924
Public <cniees
40.63-4
31.568
9.066
601
(603)
Parks and recreation
Capital outlay
1.292
1.03-
255
Debt sem ice
Pnncinal
Interest and liscal
Total Fvpenditures
88.9-45
72.700
16.'_15
603
1603)
FXCESS (DEW'IENCY) OF RFVE\I'ES
OVER EXPF. \DITI'RES
(-46.1451
67.188
113.113
54.000
72.408
18.408
01 HER FIVAKCI \G SOVRCFS 11'SES)
Operating transfers in
Proceeds from bond issuance
Proceeds from special district dissolution
Ad\ances from C it\
Operating transfers out
( 35.5291
(35.529)
Total Other Financing Sourcc> t Ises)
(35.5291
(35529)
EXCESS (DEFICIENCY) OF REVF \LIES
AND OTHER SOURCES OVER
FXPFNDIFL'RES \NDOTIIFR I'SES
S 146.145)
67.188
S 113.133
5 54.000
36.879
S (17.121)
Fund Balances. Beginning of Year
53.310
1.058.310
Fund Balances. Fnd of )'ear
S 120.498
S 1.095.189
30
10.068 (10.068)
210.529 167.520 43.009
103.472 96.210 7,262
10.068 (.10.068) 314.001 263.730 50.271
52,000 149.829 97.829 435.000 599,446 164.446 (97.472) (91.153) 6.319
602 602
(7.554) (7.554) (427,119) (427,119) (6.922) (6.922)
(7.554) (7.554) (427.119) (427.119) (6.320) (6.320)
S 52,000 142.275 S 90.275 $ 435.000 172.327 S (262.673) S (97,472) (97.473) S (I)
1.071.751 1.990.884 97.473
S 1.220.026 S 2.163.211 S
30
Citywide
Local
Local
Traffic
Transportation
Transportation
Mitigation
Streets
Transit
Variance
Vanance
Variance
Favorable
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
S 107.839
S 107,839
S 360.000
S 504,479
S 144,479
S 201,629
S 155.544
S (46,085)
13,500
16,940
3,440
S 52,000
52.058
58
75.000
94,647
19.647
1,400
28
(1,372)
320
320
65
65
52.000
159.897
107.897
435.000
599.446
164.446
216.529
172.577
(43.952)
10.068 (10.068)
210.529 167.520 43.009
103.472 96.210 7,262
10.068 (.10.068) 314.001 263.730 50.271
52,000 149.829 97.829 435.000 599,446 164.446 (97.472) (91.153) 6.319
602 602
(7.554) (7.554) (427,119) (427,119) (6.922) (6.922)
(7.554) (7.554) (427.119) (427.119) (6.320) (6.320)
S 52,000 142.275 S 90.275 $ 435.000 172.327 S (262.673) S (97,472) (97.473) S (I)
1.071.751 1.990.884 97.473
S 1.220.026 S 2.163.211 S
30
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES (DEFICITS) - BUDGET AND ACTUAL (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
REVENLES
Other taxes
Building and safety fees
,Maintenance assessments
Subventiuns and grants
Planning and public works tees
Park development tees
Charges for current services
Fines and forfeitures
Interest
Other
rota) Revenues
FXPFNDII'I RES
Current
General govemment
Public scry ccs
Parks and recreation
Capital outlav
Debt sen ice
Principal
Interest and fiscal
Total Expenditures
EXCESS (DEFICIENCI) OF RFVFNL ES
OVER LXPFNDI FL RES
OTHF,R FINANC I \6 SO1 RCES (L'SFS)
Operating transfers in
Proceeds from bond issuance
Proceeds from special district dissolution
\d%ances from Uity
Operating transfers out
Total Other I inancmgSourccs(LheS)
EXCESS (DEFICIEN('Y) OF REVENUES
AND OTHER SOLRCLS OVER
EXPENDITI'RFS •NNDOTHER LSE.S
Fund Balances. Bcgmning of Year
Fund Balance.. End nt Ycar
Crossing Assessment
Guard D)stnct
Vanance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
S 679.)40 S 688.829 S 9.189
25.000 (25.000)
S 6.400 S 5.03) S (1.304) 13.486 13.486
346 446 b.037 6.617
6.100 5.482 (918) 701.610 '08.952 4.312
9.01 x
10.508
(1.490)
6 71.985 589,200
85.735
408
31.
9h
:.'_111
2?111
9.426
(1.394)
67'7.225 589.200
10.820
'58.025
(3.()26)
(5.3381
(2.312)
_7.115 119.752
92.337
(13.320) (13.320)
)13.30) 11 3.320)
S (3.026) (5.338) S (2.312) S 27.415 106.432 S 79.01%
1 11.386 151.629
S 109,048 ) 158.061
31
31.750 15.894 15,856 1,849.282 1.057.209 792.073
7,600 (7.600)
2.000 2.000 11.958 12.808 (850)
33.750 17.894 15.856 7.600 (7.600) 1.861.240 1.070.017 791.223
315.850 529.114 213.264 341.700 243.423 (98.277) (254.243) (67.565) 186.678
235.713 235,713
(1.036.616) (1.036.616) (743.324) (743.324)
(1.036.616) (1.036.616) (507.611) (507.611)
5 315.850 (507,502) S (823.352) S 341,700 (264.188) S (605.888) _L L254.243) (67.565) S 186.678
8.914.5 70 894.174 265.597
S 8.407.068 S 629.986 S 198.032
31
Areas of
Park
Community
Contributions
Development
Development
Variance
Variance
Variance
Favorable
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
_(Unfavorable)
S 8.600
S 7,613
S (987)
364,143
212,886
(151,257)
S 21,797
S 21,797
$ 15,780
$ 15,780
1,233.454
760.772
(472.682)
136.805
136,805
134,114
134,114
S 311,000
47,691
(263.309)
1.000
1,000
S 349.600
378,202
28,602
28,200
40,161
11.961
12.895
12.895
2.500
10.586
8.086
800
20.181
19,381
349.600
547.008
197.408
341.700
251.023
(90.677)
1.606.997
1.002.452
(604.545)
31.750 15.894 15,856 1,849.282 1.057.209 792.073
7,600 (7.600)
2.000 2.000 11.958 12.808 (850)
33.750 17.894 15.856 7.600 (7.600) 1.861.240 1.070.017 791.223
315.850 529.114 213.264 341.700 243.423 (98.277) (254.243) (67.565) 186.678
235.713 235,713
(1.036.616) (1.036.616) (743.324) (743.324)
(1.036.616) (1.036.616) (507.611) (507.611)
5 315.850 (507,502) S (823.352) S 341,700 (264.188) S (605.888) _L L254.243) (67.565) S 186.678
8.914.5 70 894.174 265.597
S 8.407.068 S 629.986 S 198.032
31
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES (DEFICITS) - BUDGET AND ACTUAL (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
REVENUES
Othertaxcs
Building and safety fees
Maintenance assessments
Subvcnnons and grants
Planning and public works fees
Park development fees
Charges for current smites
Fines and forfeitures
Interest
Other
Total Revenues
F.XPF!4DII( RES
Current
General govemment
Public scrviccs
Parks and recreation
Capital outlay
Debt scr% Ice
Principal
Interest and fiscal
Total Expenditures
EXCESS IDFFIC'IENC'1') OF REVFNL'ES
O\ERF.XPENDITI RF.S
OTHER SOL RCES (USFS)
Operating tran4ers in
Proceeds from bond issuance
Proceeds from ,pecial district dissolution
Ad,anccs born ( it%
Operating transters out
Total tither Financing Sources (Uses)
EXCESS (DIAAC IENCY) OF REVENLIES
AND OTHER SOURCES OVER
EXPLNDITI 'RFS AND OTHER USES
Fund Balances. Beginning of Year
Fund Balances. Lnd of bear
Low and
Affordable Moderate
Housing Income Housing
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
S 30.000 S 37.042 S
'.566
30.000 39.608
7.042 S 41000 S
'. X66
9.608 11.000
88.269 11.103 77.166 37O158
45.6511
I6 ?.202
'.800
88?69 11.103 77.166 59'.110
(58.269) 28.505 86.774 (516.1101
66.971 S 25.9 "1
'26 226
67.197 26.19'
50.37% 320.081
45.662 (12
163.202
7.800
267.041 320.069
(199.811) 346.266
225.000 295.778
8'. 3 "4
70 728
(K7 3'K)
312.374 295.'28 (16.650)
S (58.269) 24,.',05 S 46.774 S (233.'32) 95.884 S 329 616
59' 083 2.817.606
S 625.588 S 2.913.490
32
State
State
Transportation
Gas
Transit
Development
Tax
Assistance
Act (Article 3)
Vanance
Variance Vanance
Favorable
Favorable Favorable
Budget Actual
(Unfavorable) Budget
Actual
(Unfavorable) Budget Actual (Unfavorable)
S 512.000 S 552,740
S 40,740
S 35,534
S (35.534)
205 205
65.000 77,097 12.097 S 1,500 S 2.884 S 1.384 4,000 S 4,304 304
17,499 17.499
577,000 647.541 70.541 1.500 2.884 1,384 39.534 4.304 (35.230)
696.698 582.263 114.435
39,038 15,626 23.412
735.736 597,889 137.847
(158.736) 496652 208.388 1.500 2.884 1.384 39.534 4.304 (35.230)
293.031 293.031
(12.570) (12.570) (1,843) (1.843)
293.031 280.461 ( 12.570) (1.843) (1.843)
S 134.295 330.113 S 195.818 S 1.500 1.041 _L ___L459) S 39.534 4.304 S (35.230)
1.501.168 62.906 93.511
S 1.831.281 S 63.947 S 97.815
32
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES (DEFICITS) - BUDGET AND ACTUAL (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
REVENUES
Other taxes
Building and safety tees
Maintenance assessments
Subventions and grants
Planning and public works fees
Park dcsclopmcnt Ices
Charges for current services
Fines and forfeitures
Interest
Other
Total Revenues
EXPENDIT1 RES
Current
General government
PUNIC services
Parks and rccrcar)on
Capital outlap
Debt service
Principal
Interest and fiscal
Total Etpenditure>
EXCESS (DFFICIE`CY) OF RF.VEN('FS
OVER EXPFNDIII'RES
OTHER FINANCING SOL RCFS (USES)
Operating transfers in
Proceeds from bond issuance
Proceeds from special district dissolution
, \dunces from C,ty
Operating rransterc out
Total Other 1 financing Sources (( sesl
EXCESS iDEFICIL\CY) OF REVENGES
AND OTHER SOURCES OVER
EXPENDrr( RES AND OTHER USES
Fund Balances. Beginning of Year
Fund Balances. Fnd of Ycar
CDBG
LS T E.A Entitlement
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
S 935.200
935.200
935.200
S 935.200
33
S -
S (935.200) S 361.630 S 84,262 S (277.368)
(935.200) 361.630 84.262 (277.368)
3.000 44.490 111.190 )
3,000 44.490 01.190)
(935.200) 358.630 39.772 (318.858)
S (935.200) S 358.630
139.772) (39.770
139 772) (39.7 -21
i -
S (358.630)
S 3,000,000 $ 3,000,000
S 77,154 S (77,154)
57.354 S 57.354 32.000 29.105 (2.895)
76072 7,072
77.154 (77.154) 3.000.000 3.064.426 64,126 64.000 106.453 42.453
15.000 7.077 7,923
13.601 S 13.950 (349) 143.033 126.762 16.271
19.000 19.000 20.000 19.544 456
13.601
13.950
Police
1626033
Other
35.271
Facilities Fee
26.621
Grants
Endowment
Fund
Variance
Variance
63.553
Variance
Favorable
Favorable
2.937.664
Favorable
Budget Actual (Unfavorable) Budget
Actual (Unfavorable) Budget
Actual
(Unfavorable)
S 32,000
S 77,348
S 45,348
S 3,000,000 $ 3,000,000
S 77,154 S (77,154)
57.354 S 57.354 32.000 29.105 (2.895)
76072 7,072
77.154 (77.154) 3.000.000 3.064.426 64,126 64.000 106.453 42.453
15.000 7.077 7,923
13.601 S 13.950 (349) 143.033 126.762 16.271
19.000 19.000 20.000 19.544 456
13.601
13.950
(349)
1626033
126.762
35.271
35.000
26.621
8.379
63.553
(13.950)
(77.503)
2.837.967
2.937.664
99.697
29.000
79.832
50.832
1.464.000 1.452.845 (11.155)
1.464.000 1.452.845 (11.155)
S 63.553 (13.950) S (77.503) S 4.301.967 4,390.509 S 88.542 S 29.000 79.832 S 50.832
59.530 592,193
S 45.580 S 4.390.509 S 672.025
33
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES (DEFICITS) - BUDGET AND ACTUAL (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
34
Total
Variance
Favorable
Budget
Actual
(l;nfavorable)
REVENUES
Other taxes
S 520.600
S 560.353
S 39,753
Building and safety fees
396.133
290.234
(105.909)
Maintenance assessments
3,679.640
3,859.161
179,521
Subventions and grants
1.971.147
74x.285
(1.226.862)
Planning and public works fees
1._33.454
760.772
(4'2,682)
Park development fee,
136.805
136.305
Charges for current services
349.500
199.950
(150,550)
Fines and forfeitures
30.000
135.245
95.35
Interest
742.900
909.641
166.741
Other
1300
80.965
'" 665
Total Revenues
8.936.683
7.676.411
11 .260.271
EXPENDITI RES
Current
General govemment
62.011)
37.172
14.337
Public scr%ices
3.1'8.'5'
1667.025
1.461.:;2
Parks and recreation
7,600
(7.600)
Capital outlav
248.058
237.689
10.369
Debt serve
Principal
163.2o2
163.202
Interest and fiscal
7.800
7.801)
Total Expenditures
4.609.336
3.130.388
1.478.848
EXCESS (DEFICIL%C1'1 OF REVENUES
OVER EXPENDI'WRES
4.321.348
4.545923
218.575
OTHER FINANCING SO[ RUES (USES)
Operating transt'cr in
518.031
825.074
iq�.p4 i
Proceeds from bond issuance
Proceeds from special district dissolution
1.464.000
1.352.845
I 1 155)
Advances from Cav
87.375
(8' 3-3)
Operating transfers iut
(2.324.569)
(2.323.569)
Total Other Financing Sources(l,ses)
2.069.409
(46.650)
(2A to 059)
EXCESS (DEFICIENCY) OF REVENI )ES
AND OTHER SOLRCES OVER
FXPFNDIfI RES AND OTHER I_SES
S 6.396.75'
4.499?73
S ( 1 397.484)
Fund Balances. Beginning of ) ear
20.342.081
Fund Balances. f nd of Year
S 24.841.354
34
This page left blank intentionally.
CITY OF MOORPARK
COMBINING BALANCE SHEET
ALL CAPITAL PROJECTS FUNDS
JUNE 30, 1999
(with comparative total figures at June 30, 1998)
ASSETS
Cash and Investments
Accounts and interest receivable, net
Taxes receivable
Notes receivable
Total Assets
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities
Deposits, principally from developers
Total Liabilities
FUND BALANCES
Fund balances
Reserved for encumbrances
Resm ed for receivables due after one year, net
l'rr.;C" e:1
Designated for business incentives
Designated for capital projects
Undesignated
Total Fund Balances
Total Liabilities and Fund Balances
15
Capital City Hall Equipment Redevelopment
Project Building Replacement Agency
S 605,142 S -133.557 S 240,738 S 6,659,455
808 3,433 1.919 471,530
S 605,950 S 436,990 S 242,657 S 10,818,399
605.950 123,650
2,370
605,950 126.020
8,724
127,635
3,775,1 12
233.678
6,555.954
428,266 242,657
436,990 242,657 10.692,379
S 605.950 5 436,990 S 242,657 S 10,818.399
TOTALS
1999 1998
S 7,938,892 S 9,113,572
477,690 300,924
8,182
3,687,414 3,833.464
S 12,103,996 S 13,256,142
729,600 108,652
2.370
731,970 108,652
136.359 36,585
3,775,112 3,921,286
233,68 233.678
6,555.954 8,263.348
670,923 692.593
11,372.026 13,147,190
S 12,103,996 S 13,256,142
35
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL CAPITAL PROJECTS FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
(with comparative total figures for the year ended June 30, 1998)
REVENUES
Property tares
Building and safety fees
.Maintenance assessments
Charges for current ser, ices
Interest
Other
Total Revenues
EXPENDITI'RES
Current
General government
Public services
Parks and recreation
Capital outlay
Debt see. ice
Principal
Interest and 6,cal
Total Expenditures
EXCESS IDEFICIFNCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Operating transters in
Proceeds from bond issuance
Proceeds from special district dissolution
Proceeds from long term advance general fund
Oper-ating transfers out
Total Other Financing Sources (Uses)
EXCESS (DLFI( IL•NUY)OF REVENUFS
AND 0 rHER SOURCES OVER
EXPFNDITI;RIS %NDUfHFRUSES
Fund Halance,. E3r!mmne nf) rar
Fund Balances. End pit Year
Capital City Hall Equipment Redevelopment
Project Building Replacement Agency
S
S 19.347 S 1 1 .360
1.785.733
(2,250)
112,299
1.058.656
19.317 11.360 2.976.933
I ,')19,516
120.081) (1.004,991)
1.919.516 ( 20.081) (1.004.9911
2,133 (31.122) ( 1.743,4751
131.55' 11,07') 12,135.854
S 5 430,990 S 212.657 S 111,692.379
W
16.914 674,182
S 290.319
38,658
1 590.539
25,701 66.232
2.500,000
1'5,000
1,919.516
16.914 25,701 3.715,411
(1.919,5)61
2,433 114,3411 (738.48) 1
I ,')19,516
120.081) (1.004,991)
1.919.516 ( 20.081) (1.004.9911
2,133 (31.122) ( 1.743,4751
131.55' 11,07') 12,135.854
S 5 430,990 S 212.657 S 111,692.379
W
TOTALS
1999 1998
S 1,785,733 5
1,574,393
(2.250)
65,431
112.299
114,030
1,089.363
471.003
22,495
21
475.000
493.410
3.007,640
2,224,878
691.096
517,878
290,319
170.335
38.658
1,682.472
876,977
2.500,000
475.000
493.410
5,677,545
2,058.600
(2.669,905)
166.278
1.919.516
845,431
678.305
(1,025.075)
(1.065,646)
894,441
458.090
(1,775.464)
624,368
13.147.490
12,523.122
5 11,372.026 S
13.147,490
36
CITY OF MOORPARK
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
ALL CAPITAL PROJECTS FUND
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
REVENUES
Property tareS
Building and safety fees
`Maintenance assessments
Charges for current services
Interest
Other
Total Revenue,
EXPENDITL RES
Current
General govemment
Public services
Parks and recreation
Capital outlay
Debt sery ice
Principal
Interest and fiscal
Total Ftpcndrtures
EXCESS 1DEFICIEN( Y) OF REVENUES
OVER EXPENDII'L'RES
OTHER 17INANC ING SOURCES (USES)
Operating transfers in
Advances from Cato
Operating transters out
Total Other Financing Sources (Uses)
EXCESS (DFFICIENCY) OF REVENUES
AND OTHER SO('RCES OVER
FXPE\DITI'RES AND OTHER USES
Fund Balances. Beginning of Year
Fund Balanccv.Fnd A bear
Capital City Hall
Protect Flualdtn¢
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
5 10.500 S 19.347 S 8.847
10.500 19.347 8.34
16.914 10.914
S 786.110
S 290.319
S 495.791
31.999
38.658
(6.659)
9.193.711
1.590.539
7.603.172
8.092. 304
16.914 16.914
10.011.320
1.919.516
(10.011.820)
( 1.919.516)
8.092.304
16.414) 2.433 8.447
10.048.321
1.9 19.516
(8.128.805)
( 25.000) 25.000
10.048 321
1.919.516
(8.128.805)
(25.00t) 25.000
S 36.501 S (36.501) S (31.414)
37
2.43; S 33.84;
4 ?4.jS'
S 436 991)
Equipment
Redevelopment
674,182
79.706
770.802
691.096
Replacement
Agency
Total
786.110
290.319
Vanance
Variance
Variance
31.999
Favorable
(6.659)
28.278
Favorable
2,577
359,841
Favorable
Budget Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
2,500,000
S 1.350.000
S 1.785,733
5 435.733
S 1.350.000
S 1.785.733
S 435,733
475.000
475,000
(2.250)
(2.250)
(2.25())
(2.250)
28.278
25.701
106.929
112.299
5.370
106.929
112.299
5,370
S 16,000 S 11,360
S (4,640)
440,000
1.058.656
618.656
466.500
1.089,363
622,863
(12278)
(14.341)
22.495
22.495
(738.481)
22.495
22.495
16,000 11.360
(4.640)
1.896.929
2,976.933
1,080,004
1.923.429
3.007.640
1.084.211
37
753.888
674,182
79.706
770.802
691.096
79,706
786.110
290.319
495.791
31.999
38.658
(6.659)
28.278
25,701
2,577
359,841
66.232
293.609
9,581.830
1.682.472
7.899,358
2.500.000
2,500,000
2,500.000
2,500.000
475.000
475,000
475.000
4'x.000
28.278
25.701
2.577
4,088.729
3.715,414
373.315
14.145. "41
5.677,545
8.468.196
(12278)
(14.341)
(2.063)
(2.191.800)
(738.481)
1,453.3 19
(12.222.312)
(2,669.905)
9.552.407
10.048.321
1.919.516
(8.128.805)
665.000
(665.000)
665.000
(665.000)
(20.081)
(20.081)
(1.001,700)
(1.004.994)
(3.294)
(1.046.'81)
(1A25.075)
21.'106
(20.081)
(20,081)
1336.700)
(1.004.994)
(668.294)
9.666.540
894.441
(8,772.099)
S (32.359)
(34.422) S
(2.063)
S (2.528.500)
(1,743.475) S
785.025
S (2.555.772)
(1.775.464)
S 780.308
277,079
12,435.854
13.147.490
S
242.657
S
10.692.379
S 11.372.026
37
CITY OF MOORPARK
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUND — DEVELOPER DEPOSIT FUND
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
m
Balance
Net
Net
Balance
Fund Name
June 30, 1998
Additions
Reductions
June 30, 1999
Cash and investments
$ 1,184,041
$ 16,949
$ 1,167,092
Accounts receivable
$ 725
725
Total Assets
$ 1,184,041
$ 725
$ 16,949
$ 1,167,817
Accounts payable
174,686
66,162
240,848
Developer deposits
1,009,355
82,386
926,969
Total Liabilities
$ 1,184,041
$ 66,162
$ 82,386
$ 1,167,817
m
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF MOOR-PARK
REQUIRED SUPPLEMENTARY INFORMATION
YEAR 2000 DISCLOSURES
(Unaudited)
.TUNE 30, 1999
Therefore, the information given below also applies to the Agency. The year 2000 issue is the result of
shortcomings in many electronic data processing systems and other electronic equipment that may adversely
affect the government's operations as early as fiscal year 1999.
The City of Moorpark has completed an inventory of computer systems and other electronic equipment that may
be affected by the year 2000 issue and that are necessary to conduction City operations:
• The financial system/general ledger the City uses, Business Records Corporation, is off the shelf
software that was purchased from an outside vendor. The City has received a letter from the vendor
that the financial system appears to be year 2000 compliant. Validation and testing of this system has
been completed.
• The City uses Automated Data Processing (ADP) for its payroll processing. The City has received a
letter from ADP stating that the payroll system is year 2000 compliant. ADP is responsible for
remediating these systems and is solely responsible for any costs associated with the project.
• The City uses a server. /network for managing most of the City's software applications. The system
was replaced during the 1998 -99 fiscal year. As a part of purchasing the new system, the City
required assurance from the vendor that the system is year 2000 ready. Consequently,
Remediation/Validation/Testing for this system has been completed.
• The City's traffic control system is run and maintained by Signal Maintenance. Inc. The City and the
State of California are responsible for remediating these systems depending upon the ownership of
the traffic signals. The costs associated with the remediation is solely responsibility of the respective
owner of such signals. The City has completed the validation and testing stage for the signals owned
by the City and has determined that they are year 2000 ready. The State of Calitornta is responsible
for all remediation for the systems they own.
• Tar collection for the City is handled by Ventura County. The County is responsible for remediating
this system, and is solely responsible for any costs associated with this project.
• Various revenues such as sales tax. motor vehicle in lieu tees. etc. are collected by the State of
California. The State is responsible for remediattng this system, and is solely responsible for any
costs associated with this project.
• The City has deposits with Bank of America, Bank of Nexv York, and the Local Agency Investment
Fund (LAiF). These institutions agencies provide bankingiinvestment services for the City and are
responsible for remediating their systems and are solely responsible for any costs associated with the
project.
• The City owns office space for City Hall with power. heating. and air- conditioning systems. The City
is responsible for remediating all applicable systems and is solely responsible for any costs associated
with the project.
Because of the unprecedented nature of the Year 2000 issue, its effects and the success otrelated remediation
efforts will not be fully determinable until the year 2000 and thereafter. Management has assured that the City of
Moorpark is Year 2000 ready. that the Citv's remediation efforts will be successful. It is not known ifall parties
with whom the City does business will be year 2000 ready.
39
STATISTICAL SECTION
CITY OF MOORPARK
REVENUES BY SOURCE
ALL GOVERNMENTAL FUND TYPES
LAST TEN FISCAL YEARS
Governmental Fund types includes General Fund and all Special Revenue, Debt Service and Capital Project
Funds.
NOTE: 1991 was the first year the Redevelopment Agency received tax increment. In 1992, the County
of Ventura impounded tax increment for Redevelopment Agency and then released it in 1993.
Source: City of Moorpark
40
Taxes and
Licenses
Revenue
Use of
Fiscal
Assessments
Permits and
From Other
Maintenance
Money &
Other
Total
Year
(See Note 1)
Fees
Agencies
Assessments
Property
Revenue
Revenue
1990
S 2,492,774
S 1,972,453
S 959,679
$ 1,109,988
S 1,667,660
S 446.341
S 8,648,895
1991
3,097,029
2,403,152
1,234,493
1,046,698
1,726,514
322,208
9,830,094
1992
2,616,716
2,218,310
725,609
923,830
1.420.077
446,767
8,351.309
1993
3,937.065
3,157,288
951,352
1,811.483
1.316,507
1.916,469
13,090,164
1994
3,902.251
2.717,299
1,966,343
3.592,238
1,356.679
1,128.888
14,663.698
1995
1,390.156
2.501,078
789.852
940,377
1,31 - 4.7.40
1,15 7.615
1 1,093.818
1996
4,282,265
2,672,673
1,021,458
2,991,121
2,320,057
1,746,631
15,034,205
1997
6.319,631
4,693,256
1,373,726
1,641,622
1,984.162
493,938
16,536,335
1998
1,879,322
4,537.138
1,170,287
1,630.996
1,988,731
623.362
14,879,836
1999
5,186,444
1,033.723
849,089
3.856,911
2.691?85
709.414
17,6_'6,896
Governmental Fund types includes General Fund and all Special Revenue, Debt Service and Capital Project
Funds.
NOTE: 1991 was the first year the Redevelopment Agency received tax increment. In 1992, the County
of Ventura impounded tax increment for Redevelopment Agency and then released it in 1993.
Source: City of Moorpark
40
CITY OF MOORPARK
EXPENDITURES BY FUNCTION
ALL GOVERNMENTAL FUND TYPES
LAST TEN FISCAL YEARS
Fiscal
General
Public
Public
Parks &
Capital
Debt
Year
Government
Safety
Services
Recreation
Outlay
Service
Total
1990
S 960,745
S 1,621,378
S 1,483,208
S 520,906
S 1,765,924
S 20,117
S 6,372,278
1991
1,095,824
1,887,083
1,867,800
588,433
1,829,471
15,669
7,284,280
1992
1,015,922
2,102,183
2,227,984
706,939
2,1 19,893
18,352
8,191,273
1993
1,251,186
2,220,034
2,609,431
706,997
3,714,679
126,114
10,628,741
1994
1,502,504
2,417,915
2,913,513
989,482
9,218,073
554,029
17,595,516
1995
1,332,372
2,518,495
2,457,737
1,175.997
2,342,077
1.694,708
11,521.386
1996
1.530,824
2,618,063
2,533,477
1,263,862
5,740,952
2.582.130
16,269.308
1997
1,386,598
2.807,382
3,960.313
1,336.029
3,452,115
1,125.199
14,067,636
1998
1,631,787
3,026,724
3,599,360
1,381,058
1,081,814
1,268,704
11,989,447
1999
1,993,878
3,102,834
3,148,264
1,385,376
1,965,474
4.156,354
15,752,180
Governmental Fund Types include General Fund and all Special Revenue, Debt Service and Capital Projects
Funds.
Source: City of Moorpark
a
CITY OF MOORPARK
ASSESSED VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Fiscal
Net Secured
Net Unsecured
Year
Roll
Roll
1990
$ 1,301,568,464
$ 50,266,437
1991
1,497,088,093
53,1 18,248
1992
1,590,604,539
56,025,905
1993
1,674,603.922
57,669,820
1994
1,673,307,475
57,005,483
1995
1,732,877,452
56,810,214
1996
1,784,220.963
63.819,253
1997
1.848.655.764
68.944,812
1998
1.920.177,164
70,911,851
1999
2.035.487,530
85.464,519
Source: Ventura County Assessor
42
Total
Net Assessed
Percent
Homeowner's
Roll
Change
Exemptions
$ 1,351,834,901
18.0%
$ 31,984,786
1,550,206,341
14.7%
32,781,724
1,646,630,444
6.2%
33,355,481
1,732,273.742
5.2%
33,507,656
1,730,312,958
-0.1%
33,943,139
1,789,687,666
3.4%
36,000,192
1,848,040.216
3.3%
37,421.267
1,917,600.576
3.8 °„
38.289.239
1,991,089.015
3.8 0,"
39,313,581
2,120,952,049
6.5%
40,240,720
CITY OF MOORPARK
SECURED TAX CHARGE AND DELINQUENCIES
MOST RECENT FIVE YEAR HISTORY
Source: California Municipal Statistics, Inc.
43
Amount
Percent
Fiscal
Secured
Delinquent
Delinquent
Year
Tax Charge
June 30
June 30
1994
$ 1,014,559
$ 47,974
4.7%
1995
1,071,364
36,880
3.4%
1996
1,109,404
26,390
2.4%
1997
1,158,953
24,705
2.1%
1998
1,191,918
21,807
1.8%
Source: California Municipal Statistics, Inc.
43
CITY OF MOORPARK
DIRECT AND OVERLAPPING BONDED DEBT
AS OF FISCAL YEAR 1998 -99
1998 -1999 Assessed Valuation:
Redevelopment Incremental Valuation:
Adjusted Assessed Valuation:
$ 2,094,911,418
169,715,956
$ 1,925,195,462
Ratios to 1998 -99 Assessed Valuation:
Direct Debt 0.00%
Total Direct and Overlapping Tax & Assessment Debt 0.56%
Ratio to Adjusted Assessed Valuation
Combined Total Debt 1.37 00
State School Building Aid Repayable as of 6/30/98 0
* Excludes tar and revenue anticipation notes, revenue, mortgage revenue and tar allocation bonds and
non - bonded capital lease oblitations.
Source: California Municipal Statistics. Inc.
4-1
Percent
Debt
Direct and Overlapping Tax and Assessment Debt:
Applicable
as 4/1/99
Ventura County Flood Control District Zone No. 3
8.3170,/0
S 285,689
Metropolitan Water District
0.225%
1,300,579
Ventura County Waterworks District No. 1
100.000%
180,000
Conejo Valley Unified School Distrct
0.003%
900
City of Moorpark Community Facilities District No. 97 -1
100.000 9'0
7,630.000
City of Moorpark 1915 Act Bonds
100.000%
2,430,000
Total Direct and Overlapping Tax & Assessment Debt
$11,827,168
Overlapping General Fund Obligation Debt:
4.235%
$ 2,557,093
Ventura County General Fund Obligations
4.235%
5,710,686
Ventura County Pension Obligations
4.2350/o
137,849
Ventura County Superintendent of Schools COPS
4.2380/0
663,459
Ventura County Community College District COPS
90.932 9'o
5.451.373
Ventura County Library District Authority
6.8290,0
52.925
Total Overlapping General Fund Obligation Debt
$14,573,385
Combined Total Debt*
$26,-100,553
Ratios to 1998 -99 Assessed Valuation:
Direct Debt 0.00%
Total Direct and Overlapping Tax & Assessment Debt 0.56%
Ratio to Adjusted Assessed Valuation
Combined Total Debt 1.37 00
State School Building Aid Repayable as of 6/30/98 0
* Excludes tar and revenue anticipation notes, revenue, mortgage revenue and tar allocation bonds and
non - bonded capital lease oblitations.
Source: California Municipal Statistics. Inc.
4-1
CITY OF MOORPARK
COMPUTATION OF LEGAL DEBT MARGIN AND
BREAKDOWN OF GENERAL PROPERTY TAX LEVY
Legal Debt Margin as of June 30, 1999
Assessed Valuation:
Secured property assessed value: $ 2,035,487,530
Bonded Debt Limit (15% of Assessed Value)
$ 305,323,130
Amount of Debt Subject to Debt Limit
Total Bonded Debt $ 8,910,000
Less CRA Tax Allocation Bonds 8,910,000
Amount of Debt Subject to Debt Limit:
Breakdown of General Property Tax Levy
0
In accordance with the California State Constitution as amended by Proposition 13
in 1978, property taxes are limited to $1 per $100 of valuation unless additional
levies are approved by the general electorate. Most local public agencies receive
a share of the "general levy" ($1 per $100 of valuation) in accordance with State
statutes. The following is a breakdown of the proportional shares of the "General Levy ":
Moorpark Unified School District
33.50%
County of Ventura General Fund
17.20%
Fire Protection District
15.10%
Education Revenue Augmentation
14.30%
City of Moorpark
7.80 0/,
Ventura Community College
5.80%
Ventura Co. Superintendent of Schools
2.60%
County Library
1.67%
County Flood "Lone #3
1.26%
Moorpark Mosquito Abatement
0.91%
Calleguas Municipal Water
0.90%
Ventura County Flood Control Admin
0.26%
Ventura College Child Care
0.03%
Total
101.33%
Source: City of Moorpark, Ventura County Assessor and HdL Coren & Cone
45
CITY OF MOORPARK
CITY POPULATION
LAST TEN YEARS
Source: City of IVioorpark, and State Department of Finance
►o
Percent
Year
Population
Change
1990
25,269
4,2%
1991
25,917
2.6%
1992
26,294
1.5%
1993
26,713
1.6%
1994
27,170
1.7%
1995
27,099
-0.3%
1996
27,752
2.4%
1997
28,377
2.3%
1998
29,300
3.3%
1999
29,589
0.4%
Source: City of IVioorpark, and State Department of Finance
►o
CITY OF MOORPARK
BUILDING PERMIT VALUATION
LAST TEN FISCAL YEARS
Source: City of Moorpark,
Commercial
Valuation
47
11,503,595
1,862,521
3,350,958
7,488,066
11,374,256
2,575,542
6,869,232
27,460,489
18,950,107
6,538,260
Number
of
Permits
106
51
45
50
55
37
65
85
131
90
S
Total Permit
Valuation
25,204,185
8,630,580
29,815,434
16,670,190
37,564,196
58,404,525
52,677,008
51,735,098
25,281,886
9,650,963
Number
Fiscal
Residential
of
Year
Valuation
Permits
1990
$
13,700,590
450
1991
$
6,768,059
254
1992
$
26,464,476
282
1993
$
9,182,124
326
1994
S
26,189,940
250
1995
$
55,828,983
250
1996
$
45,807,776
443
1997
S
24,274,609
364
1998
S
6,331,779
258
1999
$
3,112,703
213
Source: City of Moorpark,
Commercial
Valuation
47
11,503,595
1,862,521
3,350,958
7,488,066
11,374,256
2,575,542
6,869,232
27,460,489
18,950,107
6,538,260
Number
of
Permits
106
51
45
50
55
37
65
85
131
90
S
Total Permit
Valuation
25,204,185
8,630,580
29,815,434
16,670,190
37,564,196
58,404,525
52,677,008
51,735,098
25,281,886
9,650,963
CITY OF MOORPARK
LARGEST PROPERTY OWNERS
PER ASSESSED VALUATION 1998
Source- Hdl Coren & Cone and Ventura County Assessor
48
Assessed
Value of
Property Owner
Property
Fred Kavh
$ 35,252,621
Lennar Homes of California Inc.
29,478,000
Security Capital Pacific Trust
29,274,000
Litton Systems Inc.
16,216,600
RN Properties LLC
15,065.102
Teledyne Industries Inc.
14,025,000
James Lessor Birkenshaw, et al
12,355,533
Pac C. Ventura & Lessor & Chemical
9,899,539
Rose Leonard Trust
9,623,699
Seagate Technology Inc.
9,106.200
Moorpark Plaza LLC
6,210,200
Mission Bell Partners
6,105,5 -17
Pars California Development Corporation
5,600,000
Sherman Family Investment Group
5,040,870
General Optics Inc.
4,953,397
Source- Hdl Coren & Cone and Ventura County Assessor
48
CITY OF MOORPARK
MISCELLANEOUS STATISTICS
Year of Incorporation:
1983
Form of Government:
Council - Manager
General Law City
Most Recent Population Estimate:
29,589
Registered Voters:
16,429
City Employees:
73
Fire Protection:
Number of Stations:
2
Number of Firefighters:
9
Police Protection:
Number of Stations:
I
Number of Police Officers:
23
Number of Support Personnel:
2
49
Parks & Recreation:
Number of Parks 14
Park Acreage 153 acres
Education (Number of Schools):
High Schools 2
Middle Schools 2
Elementary Schools 6
Number of Community Facilities
City Civic Buildings
Libraries I
Community Centers 2
Senior Centers I
Gym 1
Activity Rooms for Rentals 4