HomeMy WebLinkAboutAGENDA REPORT 2001 0321 CC REG ITEM 11JMOORPARK CITY COUNCIL
AGENDA REPORT
ITEM 11. T.
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ACTION: AmPr�y
Zoo 1 l$D%
TO: The Honorable City Council
FROM: Kenneth C. Gilbert, Director of Public Works
DATE: March 13, 2001 (Council Meeting 3- 21 -01)
SUBJECT: Approval of Program Supplement Agreement No. M004
[Arroyo Simi Trail Study] to Administering Agency -State
Agreement for Federal Aid Projects No. 07 -5436
DISCUSSION
A. Background
On March 1, 1996, the City entered into a Master Agreement
[Agreement No. 07 -54361 pertaining to the administration of
Federal -Aid Projects. From time to time the City has also
entered into Supplemental Agreements pertaining to the Federal
funding of specific projects. A list of the previously approved
Supplemental Agreements is as follows:
• M001: 1996 Asphalt Overlay Project
• M002: Spring Road Bridge Widening
• M003: 1999 Asphalt Overlay Project
B. Trail Study Grant
The City has applied for and received approval of a Federal
CMAQ (Congestion Mitigation Air Quality) grant for the
preparation of a study to determine the feasibility of
establishing a trail system along the Arroyo Simi through the
City of Moorpark and continuing westerly to connect to an
existing arroyo trail system in the City of Simi Valley. The
amount of the federal grant is $120,000, with a minimum local
match of $30,000.
C. Supplemental Agreement No. M004
Attached as Exhibit 1, is the subject Supplemental Agreement
pertaining to the federal grant funds approved for the Arroyo
Simi Trail Study.
Trail Sup Agree
v a 1cj• �_
Supplemental Agreement: Trail Study
March 13, 2001
Page 2
D. Resolution
Attached as Exhibit 2 is a Resolution approving the subject
Supplemental Agreement and authorizing the Mayor to sign said
document.
STAFF RECOMMENDATION
Adopt resolution.
Trail Sup Agree
.JL.y ..
I I '�� �A J I
PROGRAM SUPPLEMENT NO. M004
to
ADMINISTERING AGENCY -STATE AGREEMENT
FOR FEDERAL -AID PROJECTS NO. 07 -5436
Data : March 02, 2001
Location: 07- VEN- 0 -MRPK
Project Number: CML- 5436(006)
E.A. Number: 07-931772
This Program Supplement is hereby incorporated into the Agency -State Agreement for Federal Aid which was entered into between
the Agency and the State on 03/01/96 and is subject to all the terms and conditions thereof. This Program Supplement is adopted in
accordance with Article I of the aforementioned Master Agreement under authority of Resolution No.
approved by the Agency on (See copy attached).
The Agency further stipulates that as a condition to payment of funds obligated to this project, it accepts and will comply with the
covenants or remarks setforth on the following pages.
PROJECT LOCATION:
Arroyo Simi from westerly city limits to existing trail in the City of Simi Valley
TYPE OF WORK: Feasibility Study LENGTH: O(MILES)
PROJECT CLASSIFICATION OR PHASE(S) OF WORK
[X] Preliminary Engineering
[ ] Construction Engineering
[ ] Right -Of -Way
[ ] Construction
Estimated Cost
Federal Funds
Matching Funds
$150,000.00
Q40 $120,000.00
LOCAL
$30,000.00
$0.00
OTHER
$0.00
CITY OF MOORPARK
By
STATE OF CALIFORNIA
Department of Transportation
By
Chief, Office of Local Programs
Date Project Implementation
Attest Date
Title
I hereby certify upon my personal knowledge that budgeted funds are available for this encumbrance:
Accounting Offi� Date 3. S' V ! $120,000.00
Chapter Statutes
Item Year Progr BC Category Fund Source AMOUNT
52 2000 2660- 101 -890 2000- 20."0.0 20 C 262040 892 -F 120,000.00
Program Supplement 07- 5436 -M004- ISTEA
Page 1 of 2
✓EN- O -MR-k, 03/02/2001
„ML- 5436(006)
r
SPECIAL COVENANTS OR REMARKS
1. This Program Supplement will be revised at a later date to
include other phases of work.
2. All maintenance, involving the physical condition and the
operation of the improvements, referred to in Article III
MAINTENANCE of the aforementioned Master Agreement will be the
responsibility of the ADMINISTERING AGENCY and shall be performed
at regular intervals or as required for efficient operation of
the completed improvements.
3. The ADMINISTERING AGENCY will advertise, award and administer
this project in accordance with the current Local Assistance
Procedures Manual. P.S & E Certification will be in accordance
with the "Alternative PS &E Certification Procedures" requested by
the City of Los Angeles and approved by Caltrans on June 28,
1999.
4. The ADMINISTERING AGENCY is required to have an audit in
accordance with the Single Audit Act and OMB A -133, if it
receives $300,000 or more in federal funds in a single fiscal
year. The federal funds received under this project are a part
of the Catalogue of Federal Domestic Assistance (CFDA) 20.205,
Highway Planning and Research. OMB A -133 superceded OMB A -128 in
1996. Reference to OMB A -128 in Master Agreement (if any) is
superceded by this covenant.
5.
The ADMINISTERING AGENCY agrees that payment of Federal funds
will be limited to the amounts approved by the Federal Highway
Administration in the Fed ral -Aid Project Authorization /Agreement
or Amendment /Modification (E -76) and accepts any increases in
Local Agency Funds as sho on the Finance or Bid letter or its
modification as prepared y the Office of Project
Implementation, Local Assistance Program.
Program Supple
t07- 5436 -MO04- ISTEA Page 2 of 2
Exhibit 2
RESOLUTION NO. 2001 -
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, APPROVING A SUPPLEMENTAL
AGREEMENT BETWEEN THE CITY OF MOORPARK AND THE
STATE OF CALIFORNIA DEPARTMENT OF TRANSPORTATION
PERTAINING TO THE ARROYO SIMI TRAIL STUDY [CML-
5436(006); EA NO. 07- 9317721
WHEREAS, the City has applied for and has received approval
of Federal Congestion Mitigation Air Quality (CMAQ) funds for the
partial funding of the Arroyo Simi Trail Study; and
WHEREAS, it is necessary and appropriate to document the
receipt of said grant funding through the execution of a
Supplemental Agreement to the City /State Agreement pertaining to
Federal -Aid Projects.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. That Program Supplement No. M004 to Agreement No.
07 -5436 is hereby approved.
Section 2. That the Mayor of the City of Moorpark is hereby
authorized to execute said Program Supplement on behalf of the
City.
SECTION 3. The City Clerk shall certify to the adoption of
this Resolution and shall cause a certified resolution to be filed
in the book of original Resolutions.
PASSED AND ADOPTED this day of , 2001.
ATTEST:
Deborah S. Traffenstedt, City Clerk
Patrick Hunter, Mayor
KE: ITEM511.F. AND 6.8.
MEETING OF 3/21/2001
March 12, 2001
To: Honorable City Council
n �
From: Dana Shigley, Administrative Services D' ctd�
Subject: Annual Financial Statements for fiscal year ended June 30, 2000
Attached for your information are the annual financial statements for the year ended June
30, 2000 for both the City of Moorpark and the Moorpark Redevelopment Agency. Also
attached is the auditors Management Letter for the same period. These reports will
appear on the Council and Agency agendas for the March 21 meeting to be formally
received and filed.
These financial statements are quite comprehensive. To assist you, I have attached a one -
page summary of the revenues and expenditures in the General Fund, and the resulting
impact on the fund's balance. A brief explanation is below.
Revenues General fund revenues exceeded our earlier projections by about $400,000,
and increased over last year by $515,000 (about 7 %). Total general fund revenues,
including transfers, was $7.149 million for the 1998/99 fiscal year. This increased by
about 4 %, to $7.427 million in 1999/2000.
*Sales tax revenues make up the largest component general fund revenues; total sales tax
revenues were $1.809 million, an increase from $1.486 million in the previous year and
$109,000 more than earlier projections. As the Council is aware, the City benefited
from some one -time adjustments in sales tax revenues from the state and these higher
levels are not expected to continue into the future.
*Additionally, unanticipated increases in the Charges for Current Services category
exceeded last year's levels by $150,000, an increase of 46 %. These revenues are
primarily from parks and recreation services received late in the fiscal year (spring and
summer programs) and from a one -time payment for services associated with the Villa
Del Arroyo mobile home bonds.
*Property tax revenues increased only 5% over the previous year, reflecting normal home
sales and reassessments; more significant increases resulting form the new homes are
anticipated in the 2001/2002 fiscal year. Motor Vehicle In Lieu fees increased 10%
over the previous year, from $1.343 million to $1.488 million.
•Revenue from Utility Franchise Fees decreased this year from $859,300 to $652,000, a
drop of 24 %. However, this is a result of two one -time transactions and is not a cause
for alarm. First, last year we benefited from some one -time payments from Adelphia
when they bought out Century and TCI and second, for the 1999/2000 fiscal year,
AB939 revenues and expenses were transferred to a different fund, so those revenues
are no longer reflected in this category.
Expenditures Actual expenses and transfers -out exceeded anticipated levels by around
$174,000. While actual departmental expenditures were all below the projected levels
and within budget allocations, transfers and adjustments at year -end made up the
difference, bringing the totals just above our projections. Expenditures in virtually all
categories were down compared to last year, with the exception of public safety, which
increased from $3.103 million to $3.419 million, an increase of 10 %. Total expenditures
in the general fund, including transfers, were 56.231 in the 1998/99 fiscal year, increasing
by 2.5% to $6.389 in the 1999/2000 fiscal year.
Fund Balance In projections made during the spring of 2000, we estimated that general
fund revenues would exceed expenses by approximately $811,000. During budget
deliberations for the 2000 /2001 fiscal year, the Council appropriated $486,000 of these
unanticipated funds for special projects, and set aside an additional $248,500 for the
2001 /2002 fiscal year. Now that the 1999/2000 fiscal year has ended and final figures
tallied, revenues actually exceeded expenses by $1.037 million. The general fund's
balance at June 30, 2000 was $8.536 million, equal to 115% of revenues received during
the year.
Non - General Fund The other operating and capital funds ended the year with revenue
and expense levels generally in line with projected levels. Notable changes over last year
include significant increases in revenues to development related funds, such as the Traffic
System Management, Traffic Mitigation and Areas of Contribution funds, as a result of
various housing developments in process during the year. For similar reasons, both the
revenues and expenses in the Community Development fund were also increased
significantly over last year. The $1 million revenue anticipated from Archstone into the
Parks Improvement fund last year did not materialize until the 2000 /01 fiscal year, so the
year -end financial statements do not reflect this revenue. Also, revenues to the
Endowment fund are less than last year•, however, last year the fund benefited from
substantial one -time deposits that are not recurring. The Endowment Fund ended the
year with a balance of S4.8 million. Finally, the financial statements reflect the first year
of parks maintenance assessments and associated expenditures outside of the general
fund.
Page 2
Management Report In addition to reporting on the City's financial status, the annual
audit includes a review of internal management practices, pointing out areas where
internal control could be improved. The auditors found that, of the eleven
recommendations made last year, six have either been implemented or are in process.
For this year, only one new recommendation was made. The recommendations yet to be
implemented or otherwise resolved include: 1) promptly reconciling our monthly bank
statements, 2) promptly preparing the quarterly treasurer's report for the City Council, 3)
reviewing and correcting the interest charges on the loans between the Redevelopment
Agency and City, 4) improving internal control over changes entered to the payroll
system, 5) developing a written policy for backing up the computer systems, and 6)
updating the city's purchasing ordinance. Unfortunately, with the implementation of a
new financial management system and changes in management of the department, these
tasks have not received the attention they need. Staff has now placed priority of these
items and will have them all resolved as soon as possible.
If you have any questions at all about these annual reports, please call me any time.
Cc: Steven Kueny, City Manager
Hugh Riley, Assistant City Manager
Attached:
General Fund Revenue and Expense Summary
Annual Financial Statement — City of Moorpark
Annual Financial Statement — Moorpark Redevelopment Agency
Annual Management Letter
Annual Single Audit Report
Page 3
City of Moorpark
General Fund Expenditures and Revenues
Comparsion of Estimated versus Actual
Fiscal Year Ended June 30, 2000
REVENUES
Estimated
Actual
Variance
Property taxes
1,639,500
1,703,924
64,424
Sales taxes
1,700,000
1,809,428
109,428
Other taxes
32,035
35,670
3,635
Motor vehicle license taxes
1,450,530
1,488,473
37,943
Utility franchise taxes
654,000
651,683
(2,317)
Subventions and grants
253,400
232,806
(20,594)
Planning & public works fees
82,770
141,286
58,516
Charges for current services
386,077
484,849
98,772
Fines & forfeitures
93,122
98,822
5,700
Interest
679,926
708,679
28,753
Other
55,000
71,047
16,047
Total Revenues
7,026,360
7,426,667
400,307
EXPENDITURES
1100 City Council
3,800
20,649
10, 151
2100 City Manager
189,500
173,854
15,646
3100 City Clerk
175,300
165,301
9,999
3110 Human Resources
50,300
48,677
1,623
3120 Public Information
122,000
39,668
82,332
4100 City Attorney
74,000
56,285
17,715
5100 Administrative Services
479,800
423,873
55,927
5110 City Treasure /Finance
225,800
215,242
10,558
5200 Public Safety
3,296,700
3,241,222
55,478
5210 Emergency Services
22,600
15,998
6,602
7100 Community Services
169,500
165,772
3,728
7210 Animal Regulations
50,300
41,169
9,131
7520 Vector Control
128,900
121,104
7,796
7610 Senior Center
95,200
88,285
6,915
7620 Community Facilities
157,900
132,116
25,784
7630 Recreation
480,200
461,569
18,631
7640 Library
100
100
7800 Park Maintenance
348,100
250,654
97,446
8100 Public Works
46,000
45,811
189
8310 Street Maintenance
6,700
6,700
8320 NPDES
5,000
3,175
1,825
Total Expenditures
6,154,700
5,710,424
444,276
Capital Outlay
(incl. above)
116,874
Transfer out to solid waste fund
501,466
Transfer out to equipment replace. fund
60,500
60,500
Total Expenditures and Transfers
6,215,200
6,389,264
(174,064)
Beginning Fund Balance
7,498,729
7,498,729
Excess (Deficiency) of Revenues
Over Expenditures
811,160
1,037,403
Ending Fund Balance
8,309,889
8,536,132
REDEVELOPMENT AGENCY OF
CITY OF MOORPARK, CALIFORNIA
(A Component Unit of the City of Moorpark, California)
ANNUAL FINANCIAL REPORT
For the Year Ended June 30, 2000
REDEVELOPMENT AGENCY OF
THE CITY OF MOORPARK, CALIFORNIA
(A Component unit of the City of Moorpark, California)
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
CONTENTS
PAGE
Independent Auditors' Report
All Fund Types and Account Groups
Balance Sheet
All Governmental Fund Types
Statement of Revenues, Expenditures and Changes In Fund Balances
Statement of Revenues, Expenditures and Changes In Fund Balances
— Budget and Actual
Notes to Financial Statements
Report on Compliance and On Internal Control Over Financial Reporting Based on an 17
Audit of Financial Statements Performed in Accordance With Government Auditing
Standards
Ur re I
am,
Vavrinek, Trine, Day & Co., LLP
INDEPENDENT AUDITORS' REPORT
The Honorable Board of Directors
Redevelopment Agency of
The City of Moorpark, California
We have audited the accompanying component unit financial statements of the Redevelopment Agency of the
City of Moorpark (the "Agency ") as of and for the year ended June 30, 2000, as listed in the accompanying table
of contents. These component unit financial statements are the responsibility of the Agency's management. Our
responsibility is to express an opinion on these component unit financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards and the standards applicable
to financial audits contained in Governmental Auditing Standards, issued by the Controller of the United States.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
component unit financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the component unit financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for
our opinion.
In accordance with Government Auditing Standards, we have also issued our report dated November 21, 2000,
on our consideration of the Agency's internal control over financial reporting, and our tests of its compliance
with certain provisions of laws, regulations, contracts and grants.
The Agency has not maintained complete records relating to the fixed 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 $1,209,283.
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, 2000, and the results of its operations for the year then ended in
conformity with generally accepted accounting principles.
Rancho Cucamonga, California
November 21, 2000
.. .. -r. ,.�., r,,.r r fir• •]r c-
FRESNO LAGUNA HILLS PLEASANTON RANCHO CUCAMONGA SACRAMENTO SAN IOSE
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
BALANCESHEET
ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 2000
ASSETS AND OTHER DEBITS
Cash and Investments
Restricted cash and investments
Accounts and interest receivable, net
Taxes receivable
Loans and notes receivable
Other assets
Land held for resale
Property and equipment
Amount available for debt service
Amount to be provided for retirement
of general long -term debt
Total Assets
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities
Due to the City of Moorpark
Employees compensated absences payable
Deposits, principally from developers
Advances from City General Fund
Tax allocation bonds payable
Total Liabilities
FUND EQUITY AND OTHER CREDITS
Fund balances and other credits:
Investment in general fixed assets
Fund balances:
Reserved for encumbrances
Reserved for receivables due after one year, net
Reserved for land held for resale
Reserved for debt service
Reserved for low /moderate income housing
Unreserved:
Designated for capital projects
Unreserved- Undesignated
Total Fund Equity and Other Credits
Total Liabilities and Fund Equity
GOVERNMENTAL FUND TYPES
Special Capital Debt
Revenue Projects Service
S 1,583,748 $
20,023
5,075
128,268
31
1,500,000
4,502,344
251,714
20,298
3,737,740
10,086
818,497
13,378
S 3,237,145 S 8,522,182 S 831,875
2,222
159,667
9,479
481,977
26,500
2,370
38,201
634,014
251 372
128,268 3,737,740
1.500,000
831,875
1,570,425
233,678
3,906,378
3,198,944 7,878,168 831,875
S 3,237,145 S 8,522,182 $ 831,875
The accompanying notes are an integral part of these financial statements.
ACCOUNT GROUPS TOTALS
General General -Long (Memorandum
Fixed Assets Term Debt Only)
S 6,086,092
818,497
285,115
25,373
3,866,008
10,117
1,500,000
S 1,209,283 1,209,283
S 831,875 831,875
10,592,394 10,592,394
S 1,209,283 S 11,424,269 S 25,224,754
1,209,283
1,209,283
623
3,866,008
1,500,000
831,875
1,570,425
233,678
3,906,378
1,209,283 13.1 18,270
S 1,209,283 S 11,424,269 S 25.224,754
3
161,889
491,456
18,900
18,900
28,870
1,865,369
1,865,369
9.540,000
9,540,000
11,424,269
12.106,484
1,209,283
623
3,866,008
1,500,000
831,875
1,570,425
233,678
3,906,378
1,209,283 13.1 18,270
S 1,209,283 S 11,424,269 S 25.224,754
3
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
REVENUES
Property taxes
Other taxes
Charges for current .;e:vices
Fines and forfeitures
Interest
Total Revenues
EXPENDITURES
Current:
Public services
Capital outlay
Debt service
Principal
Interest
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDIT(-PFS
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
Fund Balances, Beginning of Year
Prior Period Adjustment
Fund Balances, End of Year
GOVERNMENTAL FUND TYPES
Special Capital Debt TOTALS
Revenue Projects Service (Memorandum Only)
$ 399,572 $ 1,589,397 1,988,969
300 300
10.231 108,532 118,763
1,755 1,755
73,996 412,604 S 70,146 556,746
483.799 2.111588 70.146 2,666,533
62,961
1,386,922
1,449,883
1,546
255,562
257,108
2,500,000
320,000
2,820,000
350.000
3 94. 30 5
744.305
64.507
4.492.484
714.305
5,271.296
a 1'; "''
-.,79.8961
(644.159)
(1604,76 31
(133,838) (535,351)
(133,838) (535,351)
285,454 (2,915,247)
669.189 669,189
(669.189)
669,189
25,030 (2.6047763)
2,913,490 10,692,379 806,845 14,412,714
101,036 101.036
S 3,198,944 $ 7,878,168 $ 831,875 $ 11,908,987
The accompanying notes are an integral part of these financial statements.
4
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL. YEAR ENDED JUNE 30, 2000
SPECIAL REVENUE FUNDS
Variance
Favorable
Budget Actual (Unfavorable)
REVENUES
Property tares
$ 399,400
$ 399,572 $
172
Other taxes
Charges for current services
10,231
10,231
Fines and forfeitures
Interest
55.000
73,996
18,996
Total Revenues
454.400
483.799
29.399
EXPENDITURES
Current:
Public services
290,845
62,961
227,884
Capital outlay
1,300
1.546
(246)
Debt service
Principal
Interest and fiscal
Total Expenditures
292.145
64.50 7
227,638
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
162.2-55
419.292
257.037
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
(134.000)
(133.838)
162
Total Other Financing Sources (uses)
( 134.000)
(133.838)
162
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
$ 28.255
285,454 $
257,199
Fund Balances, Beginning of Year
2,913,490
Prior Period Adjustment
Fund Balances, End of Year
$ 3,198.944
The accompanying notes are an integral part of these financial statements.
F
CAPITAL PROJECTS FUNDS
DEBT SERVICE
Variance
Variance
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
$ 1,597,800
$ 1,589,397
$ (8,403)
300
300
106,842
108,532
1,690
1,755
1,755
400,000
412,604
12.604
$ 54,000
S 70.146
$ 16,146
2,104,642
2,112,588
7.946
54,000
70,146
16,146
1,551,028
1,386,922
164.106
440,200
255.562
184,638
2,500,000
2,500.000
320,000
120.000
352.900
350.000
2.900
394.500
394.305
195
4.84 t. 128
4.492.484
351.644
714,500
714,305
195
X2,7 39.486)
(2.379.F96)
359.59G.
(660.500;
6. 44.159)
16.'41
670,000
669,189
(81 1)
(536,000)
(5357351)
649
(536.000)
(535,351)
649
670.000
669,189
(811)
$ (3,275,486)
(2,915,247)
$ 360,239
$ 9,500
25,030
$ 15.530
10,692,379
806,845
101,036
7,878,168
$ 831,875
t
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (Continued)
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
REVENUES
Property taxes
Other taxes
Charges for current services
Fines and forfeitures
Interest
Total Revenues
EXPENDITURES
Current:
Public services
Capital outlay
Debt service
Principal
Interest
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINI ANCING SOURCES (USES)
Operating transfers in
Operating transfers out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
Fund Balances, Beginning of Year
Prior Period Adjustment
Fund Balances, End of Year
TOTAL
(Memorandum Onl
Variance
Favorable
Budget Actual (Unfavorable)
$ 1,997,200
106,842
509,000
2,613,042
1,841,873
441,500
2,820,000
747,400
5.850.773
$ 1,988,969 S
(8,231)
300
300
118,763
11,921
1,755
1,755
556,746
47,746
2.666.533
1,449,883
257.108
?.820,000
5.271.296
0,237,731) (2,604,76-33)
670,000 669,189
(670,000) (669,189)
S (3,237.731)
The accompanying notes are an integral part of these financial statements.
7
(2,604,763) S
14,412.714
101,036
S 11,908,987
53.491
391,990
184,392
3,095
579,477
632.968
(811)
811
632.968
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #1 — NATURE AND OPERATIONS OF THE AGENCY
The Redevelopment Agency of the City of Moorpark, California (Agency) was created by the City of Moorpark
(City) City Council Ordinance No. 87, adopted on March 18, 1987. The City Council appointed the Board of
Directors and established bylaws of the Agency on May 20, 1987, by Resolution No. 87 -387. The City Council
sits as the Board of Directors of the Agency. The Agency was established pursuant to the Community
Redevelopment Law of the State of California Health and Safety Code.
For financial reporting purposes, the Agency is considered to be a component financial reporting unit of the
City, however, for operational and financing purposes, the Agency functions as a separate legal entity, distinct
form the City of Moorpark. In accordance with generally accepted accounting principles, the financial activities
of the Agency are included in the Annual Financial Report of the City of Moorpark because of the financial and
administrative oversight aspects of the City Council's involvement in the Agency's activities.
NOTE #? — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Redevelopment Agency of the City of Moorpark (the Agency), accounts for its financial operations in
accordance with generally accepted accounting principles applicable to governmental units. Accordingly, the
Agency uses several fund types and account groups as described below.
A. Fund Types and Account Groups
• Special Revenue Fund — This fund is used to account for revenues derived from specific sources that are
usually required by law or administrative regulation to be accounted for in separate funds.
• Debt Service Fund — This fund is used to account for the payment of interest and principal on its long-
term obligations. Principal sources of revenue for this fund are property taxes and investment earnings.
• Capital Projects Fund — this fund is used to account for all revenues and expenditures which are not
accounted for by the Debt Service Fund and Special Revenue Fund, including acquisition of properties,
costs of site improvements and other costs of benefit to project areas and administrative expenditures
incurred in sustaining Agency activities.
• General Fixed Assets Account Group — This account group is used to account for property and
equipment purchased or received by the Agency.
• General Long -Term Debt Account Group — This account group is used to account for the Agency's
outstanding long -term indebtedness in a separate self - balancing group of accounts.
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
B. Basis of Accountiniz
The modified - accrual basis of accounting is followed by all funds of the Agency. Under the modified -
accrual basis, expenditures (other than interest and principal on long -term debt which is recorded when due,
unless paid early in a subsequent period) are recorded when the liability is incurred, and revenues are
recorded when received in cash unless susceptible to accrual (i.e., measurable and available to finance the
Agency's operations in the current period or of a material amount and not received at the normal time of
receipt). Revenues considered susceptible to accrual include investment earnings and incremental property
taxes.
C. Budgetary Data
The Board of Directors approves each year's budget submitted by the Executive Director prior to the
beginning of the new fiscal year. Public hearings are conducted prior to its adoption by the Board of
Directors. Supplemental appropriations, where required during the period, are also approved by the Board
of Directors. In most cases, expenditures may not exceed appropriations at the function level. At fiscal
year -end, all operating budget appropriations lapse. Overall, budgets are adopted on a basis consistent with
generally accepted accounting principles (GAAP).
D. Total (Memorandum Onlv) 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.
E. Land Held for Resale
Land held for resale in the Low- and Moderate - Income Housing Special Revenue Fund represents land
purchased by the Agency for investment purposes. Such 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 a
developer) and has been offset by a reservation of fund balance to indicate that assets constitute future
capital projects and are not available spendable resources.
F. Property and Equipment
General fixed assets are recorded as expenditures in the Governmental Fund Types at the time of purchase.
These assets are stated at cost in the General Fixed Assets Group. No depreciation is provided on general
fixed assets.
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #Z — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
G. 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.
H. Property Taxes
The Agency receives incremental property taxes on property within its project area over a base - assessed
valuation on the date the project area was established.
The duties of assessing and collecting property taxes are performed by the Ventura County assessor and Tax
Collector, respectively. Tax levies cover the period from July 1 to June 30 of each year. All tax liens attach
annually on the first day in March preceding the fiscal year for which the taxes are levied. Taxes are levied
on both real and personal property, as it exists on that date.
Secured property taxes are levied against real property and are due and payable in two equal installments.
The first installment is due on November 1 and becomes delinquent if not paid by December 10. The
second installment is due on February 1 and becomes delinquent if not paid by April 10. Unsecured
personal property taxes are due on July 1 each year. These taxes become delinquent if not paid by
August 31.
The Agency records incremental 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.
NOTE #3 — CASH AND INVESTMENTS
At June 30, 2000, the Agency's investments are stated at fair value. The Agency's cash, investments and
restricted cash and investments consist primarily of investments in the State Treasurer's Local Agency
Investment Fund, certificates of deposit and other money market investments. Interest income earned on cash
and investments is allocated to the various funds based on each fund's average cash and investment balance.
A. Cash and Investments with Fiscal Agent
A portion of the Agency's funds are also held by trustees or fiscal agents and pledged to the payment or
security of certain bonds. The California Government Code provides that these monies, unless otherwise
required by statute, may be invested in accordance with the ordinances, resolutions or indentures, which
specify the types of investments the trustees or fiscal agents may make.
ff
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #3 — CASH AND INVESTMENTS (Continued)
B. Cash and Investments
Cash and non - negotiable certificates of deposit are classified in three categories of custodial risk as follows:
Category 1: Includes deposits that are insured or collateralized with securities held by the City or its agent
in the City's name.
Category 2: Includes deposits that are collateralized with securities held by the pledging financial
institution's trust department or agent in the City" 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.
Investments are also classified in three categories of custodial risk as follows:
Category 1: Insured or registered, securities held by the entity or its agent in the entity's name.
Category 2: Uninsured and unregistered, with securities held by the counterparty's trust department or
agent in the entity's name.
Category 3: Uninsured and unregistered, with securities held by the counterparty's trust department or
agent but not in the entity's name. Investments in pools managed by other governments or in
mutual funds are not required to be categorized.
The Agency's deposits and investments at June 30, 2000 are categorized below:
BANK BALANCE -
CATEGORY BANK CARRYING
1 2 3 BALANCES AMOUNTS
Deposits:
Cash $100.000 $ - $140,101 $ 240,101 $ 240.101
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #3 — CASH AND INVESTMENTS (Continued)
Investments:
Local Agency Investment Fund (LAIF) (1)
Investments held in trust by fiscal agents
guaranteed investment agreement with
Transamerica, maturity date 10/1/2018
Fidelity U.S. Treasury Portfolio III
Money Market Fund
Common Stock - Disney
Total investments
* Not required to be categorized.
BANK BALANCE -
CATEGORY
1 2 3
FAIR
VALUE
$ 5,842,663 -
771,100 *
47,397
S 3,328 3.328
$ 3,328 S - S - S 6,664,488
(1) The management of the State of California Pooled Money Investment Account (generally referred to as
LAIF) has indicated to the Agency that as of June 30, 2000, the carrying amount of the pool was
543,030,301,594 and the estimated market value for the pool (including accrued interest) was
S43,453,950,163. The Agency's proportionate share of that value is 55,842,663. Included in LAIF's
investment portfolio are certain derivative securities or similar products in the form of structured notes
totaling S1,909,398,000, and asset - backed securities totaling $770,758,000. LAIF's (and the Agency'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 Agency holds an
investment in LAIF that is subject to being adjusted to "fair value ". The Agency is required to disclose its
methods and assumptions used to estimate the fair value of its holdings in LAIF. The Agency relied upon
information provided by the State Treasurer in estimating the Agency's fair value position of its holding in
LAIF. The Agency had a contractual withdrawal value of $5,842.663 whose pro -rata share of fair value was
estimated by the state Treasurer to be $5,842,663. The fair value change in this investment for the year
came to an amount that was not material for presentation in the financial statements.
12
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #3 — CASH AND INVESTMENTS (Continued)
The State Treasurer's Local Agency Investment Fund ( "LAIF ") 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 LAIF fall
under the auspices of the State Treasurer's office. The Agency is a voluntary participant in the investment
pool.
NOTE #4 — LAND HELD FOR RESALE
The following is a summary of changes in land held for resale during the year ended June 30, 2000:
Balance Balance
Beginning of End of
Year Additions Deletions Year
Totals $ 1,500,000 $ 1,500,000
NOTE #S — PROPERTY AND EQUIPMENT
A summary of changes in general fixed assets during the year ended June 30, 2000 is as follows:
Balance Balance
Beginning of End of
Year Additions Deletions Year
Land $ 1,096,409 $ 1,096,409
Building and structures 78,558 78,558
Equipment 34,316 34,316
Totals S 1,209,283 $ - $ - $ 1,209,283
13
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #6 — GENERAL LONG -TERM DEBT
The following is a schedule of changes in long -term debt for the fiscal year ended June 30, 2000.
A. Employee Compensated Absences
B. Long -Term Advance from the City
C. 1999 Tax Allocation Bonds
Totals
A. Employee Compensated Absences Payable
Balance Balance
Beginning of End of
Year Additions Deletions Year
$ 20,011 $ 1,111 $ 18,900
4,365,369 2,500,000 1,865,369
9,860,000 320,000 9,540,000
$14.245,380 $ - $2,821,111 $11,424,269
In accordance with generally accepted accounting principles, the Agency recognizes the long -term portion
of accumulated employee compensated absences in the Long -Term Debt Account Group.
B. Advances from the City of Moorpark
The City's General Fund has paid for services and start -up expenditures incurred by the Redevelopment
Agency (short-term advances). The balance of these short-term operating advances amounted to $865,369
at the beginning of the fiscal year and were completely repaid during the 1999 -2000 fiscal year. During the
fiscal year ended June 30, 1994, the City's General Fund also advanced $3.5 million to purchase certain
properties within the Redevelopment Agency project area (long -term advance). This long -term advance
accrues interest at 8 percent and is to be repaid over an indeterminate period. During the 1999 -2000 fiscal
year, the Agency paid $1,634,631 on the long -term advance. The balance of the advance from the General
fund totaled $1,865,369 at June 30, 2000.
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 I 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.
14
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #6 — GENERAL LONG -TERM DEBT (Continued)
The bonds are secured by all property tax increment revenues, which are deposited in the Special Revenue
Fund and Capital Projects Fund. Property tax increment revenues necessary to satisfy the annual debt
service obligation are transferred from the Special Revenue Fund and Capital Projects Fund to 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,
2001
2002
2003
2004
2005
Thereafter
Total
D. Prior Year's Debt Defeasance
Principal
Interest
Total
$ 345,000
S 420.193
S 765,193
355,000
408,638
763,638
365,000
396,124
761,124
380,000
382,710
762,710
395,000
368,369
763,369
7,700,000
2,879,699
10,579,699
$ 9,540,000
S4,855,733
S 14,395,733
In prior years, the City has defeased the 1993 tax allocation bond issue by creating separate irrevocable trust
funds. New debt has been issued and the proceeds have been used to purchase U.S. government securities
that were placed in the trust funds. The investments and fixed earnings from the investments are sufficient
to fully service the defeased debt until the debt is called or matures. For financial reporting purposes, the
debt has been considered defeased and therefore removed as a liability from the Agency's General Long -
Term Debt Account Group. As of June 30, 2000, the amount of defeased debt outstanding but removed
from the General Long -Terms Debt Account Group amounted to $8,660,000.
15
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #7— LOW- AND MODERATE- INCOME HOUSING SET ASIDE
The California Health and Safety Code Section 33334.2 requires a redevelopment agency 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. Accordingly, the Agency's unspent commitment for its
low- and moderate - income housing program amounted to $1,570,425 and has been reflected as a reservation of
fund balance in the Agency's Special Revenue Fund.
NOTE #8 — PASS - THROUGH AGREEMENTS
The Agency has entered into agreements with various governmental agencies to pass through a portion of tax
increment received in the project area. Such transactions are recorded within the Agency's Capital Project
Fund. The various agencies and the tax increment passed through to those agencies for the year ended June 30,
2000 are as follows:
Ventura County Superintendent of Schools $ 1,867
Moorpark Unified School District 750,000
Ventura County Community College District 15,974
City of Moorpark/School District Passthrough * 113,342
Total $ 881,183
In addition, the Agency was not subject to transfer any tax increment to the State's Education Revenue
Augmentation Fund (ERAF) for the year ended June 30, 2000.
* This amount was used by the City of Moorpark towards construction of community tennis courts.
NOTE #9 — PRIOR PERIOD ADJUSTMENT
The agency has recorded a prior period adjustment of $101,036 in the Capital Projects Fund to restate the
beginning balance of notes receivable to the proper balance.
10,
Ur re. I
Vavrinek, Trine, Day & Co., LLP
Report on Compliance and on Internal Control Over Financial Reporting
Based on an Audit of Financial Statements Performed in Accordance
With Government Auditing Standards
The Honorable Board of Directors
Redevelopment Agency of
the City of Moorpark, California
We have audited the financial statements of the City of Moorpark Redevelopment Agency, as of and for the year
ended June 30, 2000 and have issued our report thereon, dated November 21, 2000. 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 Controller of the United States.
Compliance
As part of obtaining reasonable assurance about whether the financial statements of the City of Moorpark
Redevelopment Agency are free of material misstatements, we performed tests of its compliance with certain
provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material
effect on the determination of financial statement amounts. Such provisions included those provisions of laws
and regulations identified in the Guidelines for Compliance Audits of California Redevelopment Agencies,
issued by the State Controller and is interpreted in the Suggested Auditing Procedures for Accomplishing
Compliance Audits of California Redevelopment Agencies, issued by the Governmental Accounting and
Auditing Committee of the California Society of Certified Public Accountants. However, providing an opinion
on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such
an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported
under Government Auditing Standards.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the City of Moorpark Redevelopment Agency's internal
control over financial reporting in order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and not to provide assurance on the internal control over financial reporting.
Our consideration of the internal control over financial reporting would not necessarily disclose all matters in
the internal control over financial reporting that might be material weaknesses. A material weakness is a
condition in which the design or operation of one or more of the internal control components does not reduce to
a relatively low level the risk that misstatements in amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. We noted no matters involving the internal control over financial
reporting and its operation that we considered to be material weaknesses.
17
FRESNO - LAGUNA HILLS PLEASANTON • RANCHO CUCAMONGA SACRAMENTO SAN JOSE
This report is intended for the information of the board of Directors, management, and the State Controller.
However, this report is a matter of public record and its distribution is not limited.
Rancho Cucamonga, California
November 21, 2000
I".
CITY OF MOORPARK
MOORPARK, CALIFORNIA
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For the fiscal year
July 1, 1999 through June 30, 2000
Prepared by: The Finance and Administrative Services Department
CITY OF MOORPARK
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
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
Combined Statement of Revenues, Expenditures and Changes In Fund Balances
— Budget and Actual 6
Notes to General- Purpose Financial Statements
SUPPLEMENTARY SCHEDULES
All Special Revenue Funds
Combining Balance Sheet 29
Combining Statement of Revenues. Expenditures and Changes In Fund Balances 34
Combining Statement of Revenues, Expenditures and Changes In Fund Balances
— Budget and Actual 39
All Capital Projects Funds
Combining Balance Sheet 48
Combining Statement of Revenues, Expenses and Changes In Fund Balances 49
Combining Statement of Revenues, Expenditures and Changes In Fund Balance
- Budget and Actual 50
Agency Fund — Developer Deposit Fund
Statement of Changes in Assets and Liabilities 52
CITY OF MOORPARK
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
CONTENTS (Continued)
STATISTICAL SECTION
PAGE
Revenues by Source — All Governmental Fund Types — Last Ten Fiscal Years 53
Expenditures by Function — All Governmental Fund Types — Last Ten Fiscal Years 54
Assessed Value of Taxable Property — Last Ten Fiscal Years 55
Secured Tax Charge and Delinquencies — Last Six Fiscal Years 56
Direct and Overlapping Bonded Debt as of Fiscal Year 1998 -99 57
Computation of Legal Debt Margin and Breakdown of General Property Tax Levy 58
City Population — Last Ten Years 59
Building Permit Valuation — Last Ten Fiscal Years 60
Largest Property Owners — Per Assessed Valuation 1998 61
Miscellaneous Statistics 62
urr4011
Imu,
Vavrinek, Trine, Day & Co., LLP
Certified Public Accountants R Consultants
INDEPENDENT AUDITORS' REPORT
The Honorable City Council
City of Moorpark
Moorpark, California
We have audited the accompanying general - purpose financial statements of the City of Moorpark as of and for
the year ended June 30, 2000 as listed in the accompanying table of contents. These general - purpose financial
statements are the responsibility of the City's management. Our responsibility is to express an opinion on these
general- purpose financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards and the standards applicable
to financial audits contained in 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.
In accordance with Government .4uditing Standards, we have also issued a report dated November 21, 2000 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.
The City has not maintained complete records relating to the fixed assets of the General Fixed asset Account
Group. Accordingly, we are unable to satisfy ourselves as to the tired assets of the General Fixed Assets
,account Group amounting to 521.221,029.
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, 2000, and the results of its operations for the year then ended in
conformity with generally accepted accounting principles.
8270 Aspen Street Rancho Cucamonga, CA 91730 Te:: 909.466 4410 Fax. 909 466 4431 :,rr: vidIcoa core
FRESNO LAGUNA HILLS PLEASANTON RANCHO CUCAMONGA SACRAMENTO SAN JOSE
Our audit .yas 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. !n all material respects in relation to the general- purpose financial statements taken as a whole.
The statistical information listed to the table of contents was not audited by us, and accordingly, we do not
express an opinion thereon.
baz
Rancho Cucamonga, California
November 21, 2000
CITY OF MOORPARK
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 2000
(With Comparative Amounts for June 30, 1999)
The accompanying notes are an integral part of these financial statements.
GOVERNMENTAL FUND TYPES
Special
Capital
Debt
General
Revenue
Projects
Service
ASSETS AND OTHER DEBTS
Cash and Investments
S 6,060,375
S 26,160,899
$ 5.23-1.702
Restricted cash and investments
263,508
$ 818,497
Accounts and interest receivable, net
330,190
1,300,1 12
263.030
13,378
Taxes receivable
79,406
37,043
20.298
Notes & loans receivable
82,000
781,248
3.737,740
Due from other funds
936,912
2,160,752
Long -term advance in Redevelopment Agency
1,865.369
Other assets
3,664
31
10,086
Land held for resale
1,500,000
Property and equipment
Amount available for debt service
Amount to be provided for retirement
of general long -term debt
Total Assets
S 9,357,916
S 32.203.593
S 9.265.856
S 831.875
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities
737.165
1,174,072
160.591
Employees compensated absences payable
Deposits, principally from developers
26,500
2,370
Due to other funds
2,615,687
481,977
Deferred revenue
84,619
442,587
Long -term advance from City General Fund
Tax allocation bonds payable
Total Liabilities
821,784
4,258,846
614.938
FUND EQUITY AND OTHER CREDITS
Fund balances and other credits:
Investment in general fixed assets
Fund balances:
Reserved for AB939
Reserved for unpaid grants
49,097
Reserved for encumbrances
46,509
216,830
372
Reserved for receivables due alter one year, net
82,000
596,046
3,737.740
Reserved for land held for resale
1,500,000
Reserved for prepaid expenditures
3,664
Reserved for debt services
831,875
Reserved for lowimoderate income housing
1,570,425
Reserved for advances in Redevelopment Agency
1,865,369
Unreserved:
Designated
109,002
4.140.056
Undesignated
6,489.493
23.952,444
142.750
Total Fund Equity and Other Credits
8,536,132
27.944.747
8.620.918
831.875
Total Liabilities and Fund Equity
S 9357.916
S 32,203,593
S 9.265.856
S 831.875
The accompanying notes are an integral part of these financial statements.
FIDUCIARY
FUND
TOTALS
TYPE
ACCOLNT GROUPS
(Memorandum Only)
General
General -Long
Agencv
Fixed Assets
Term Debt
2000
1999
S 1.659,442
S 39,115,418
S 35,171,771
1,082.005
803,234
1,906,710
2,502,554
136,747
33,711
4,600,988
3,807,282
3,097,664
1.552,616
1.865,369
4,365,369
13,781
4,000
1,500,000
1,500,000
S 21,221,029
21.221,029
21,147,224
S 831,875
831,875
806,845
10,769,599
10.769, 5 99
13,599.555
S 1.659.442
S 21.221.029
S 11.601,474
S 86,141.185
S 35.293.161
170,308
2.242,136
2,199,034
196,105
196,105
180,031
1,489.134
1,518,004
954,339
3,097,664
1,552,616
527,206
515,594
1,865.369
1,865,369
4,365,369
9,540.000
9,540,000
9.860.000
1.659.442
11.601,474
18.986.484
19.626.983
21,221,029
21,221,029
21,147,224
501,466
49,097
5,900
263.711
7,559.639
4,415,786
5,128.186
1,500.000
1,500,000
3,664
831,875
803.234
1,5 70,425
1.273,206
1,865,369
4,365,369
4,249,058
6,898,634
31.184.687
16.483.3 20
21,221.029
67.154.701
b5.666.178
5 1.659,442
S 21.221.029
S 11,601.474
S 86.141.185
S 85.293,161
CITY OF MOORPARK
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
(With Comparative Amounts for the Fiscal Year Ended June 30, 1999)
The accompanying notes are an integral part of these financial statements.
5
TOTALS
GOVERNMENTAL FUND TYPES
[Memorandum Only)
General
Special
Capital
Debt
Fund
Revenue
Projects
Service
2000
1999
REVENUES
Property taxes
S IJ03,924
S 399,572
S 1,589,397
5 3.692,893 S
3.404,010
Sales taxes
1,809,428
1.809 428
1,486,749
Other taxes
35.670
560,746
300
596.716
595,685
Motor vehicle license fees
1,488,473
1,488.473
1,343.188
Utility franchise fees
651,683
194,497
846.180
859.302
Building and safety fees
453,189
453.189
290,234
Maintenance assessments
3.197,752
3,197,752
3,856,911
Subventions and grants
232,806
4,092,499
4,325,305
849,089
Planning and public works fees
141,286
1,315,327
1,456,613
760.772
Park development fees
133,543
133.543
136,805
Charges for current services
484,849
35,146
108,532
628.527
643.422
Fines and forfeitures
98,822
129.571
1,755
230.148
225,194
Interest
708,679
1.153.557
451,974
S 70,146
2.384.356
2.702,815
Other
71,047
17,073
88,120
464,900
Total Revenues
7.426.667
11,682,472
2,151,958
70.146
21.331243
17,619,076
EXPENDITURES
Current:
General government
1,143,551
3.300
21,198
1,168,049
1,993,878
Public safety
3,419,489
57.292
3.476.781
3,102,834
Public services
214,759
3.468,328
1,386,922
5,070,009
3,148,264
Parks and recreation
681,971
701,175
1,383.146
1,385,376
Capital outlay
116.874
4,967,266
271,131
5,355.271
1,965,474
Debt service
Principal
2,500.000
320.000
2.820,000
2,903,202
Interest
350,000
394,305
744,305
1.022,039
Cost of issuance
231,113
Total Expenditures
5.576,644
9.197,361
4.529,251
714.305
20.017,561
15.752.180
EXCESS (DEFICIENCI� OF REVENUES
OVER EXPENDITURES
1,850.023
2.485,111
(2,377,293)
(644.1591
1,313.682
1,866.896
OTHER FfNANCING SOURCES (USES)
Operating transfers in
752,120
60.500
669,189
1.481.809
3,646,293
Proceeds from bond issuance
9,737,134
Proceeds from special district dissolution
1,452,845
Proceeds from sale of city property
45,000
Operating transfers out
(812,620)
(133.838)
(535,351)
(1,481,809)
(3,646.293)
Payment to refunded bond escrow agent
(9.497.729)
Total Other Financing Sources (Uses)
(812,620)
618.282
(474,851)
669,189
1.737.250
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
1.037,403
3,103,393
(2,852,134)
25.030
1.313,682
3.604,146
Fund Balances. Beginning of Year
7.498.729
24,841,354
11,372,026
806.845
44,518,954
40,914.808
Prior Period Adjustment
101,036
101.036
Fund Balances. End of Year
S 8.536.132
S 27.944,747
S 8.620.918
S 831.875
S 45.933.672 S
44.518.954
The accompanying notes are an integral part of these financial statements.
5
CITY OF MOORPARK
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
REVENUES
Property taxes
Sales taxes
Othertaxes
Motor vehicle license fees
Utility franchise fees
Building and safety fees
Maintenance assessments
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures
Interest
Other
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service
Principal
Interest
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
Fund Balances, Beginning of Year
Prior Period Adjustment
Fund Balances. End of Year
S 8,536.132
The accompanying notes are an integral part of these financial statements.
Gi
5 27.944.747
GENERAL FUND
SPECLAL REVENUE FUNDS
Variance
Variance
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
S 1,571,800
S 1.703.924
S 132,124
S 399,400
S 399,572
S 172
1,380,000
1.809.428
429,428
37,100
35,670
(1,430)
559,920
560,746
826
1,400,500
1,488.473
87,973
630,300
651,683
21,383
186,450
194,497
8.047
446.619
453,189
6,570
2,148,452
3.197,752
1,049,300
276.600
232,806
(43,794)
4,981,268
4,092,499
(888,769)
92,500
141.286
48,786
2,424,718
1,315,327
(1,109.391)
1,000.000
133.543
(866.457)
374,592
484.849
110.257
322.050
35,146
(286.904)
108,000
98,822
(9,178)
90,000
129,571
39,571
654.091
708,679
54.588
627,527
1,153,557
526.030
55.280
71.047
15,767
400
17,073
16,673
6,580,763
7,426,667
845,904
13.186.804
11,682,472
(1.504.332)
1,319,724
1,143,551
176,173
3,300
3,300
3,608,034
3,419.489
188,545
80.366
57,292
23.074
241.543
214,759
26.784
4,890,337
3.468,328
1,422,009
770,939
681.971
88,968
785.355
701,175
84,180
229,378
116,874
112.504
11,417,388
4,967,266
6,450,122
5.57,6,644
6,169,618
592,974
17, 176,746
9,197.361
7,979,385
411,145
1,850.023
1,438,878
(3.989,942)
2,485.111
6,475.053
371,945
752,120
380.175
(933,911)
(812,620)
121,291
(134,000)
(133,838)
162
(933.911)
(812,620)
121,291
237,945
618.282
380.337
S (522,766)
1,037,403
S 1,560.169
S (3,751.997)
3,103,393
S 6.855,390
7,498, 729
24,841,354
S 8,536.132
The accompanying notes are an integral part of these financial statements.
Gi
5 27.944.747
TOTAL
CAPITAL PROJECTS FUNDS
DEBT SERVICE
( \lemorandum Onlv)
Variance
Vanance
Vanance
Favorable
Favorable
Favorable
Budget
Actual
1L'nfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
S 1,597,800
S 1.589.397
S (8,403)
S 3,569,000
S 3.692.893
S 123,893
1,380,000
1,809.428
429,428
300
300
597,020
596,716
(304)
1,400.500
1,488,473
87,973
816,750
846.180
29,430
446.619
453.189
6,570
2,148,452
3,197,752
1.049,300
5,257,868
4,325.305
(932,563)
2.517,218
1,456,613
(1,060,605)
1.000,000
133.543
(866,457)
106,842
108.532
1,690
803.484
628.577
(174,957)
1.755
1,755
198,000
230.148
32.148
440,000
451.974
11,974
S 54,000
S 70.146
S 16.146
1.775,618
2?94.356
608.738
55,680
88.120
32,440
2.144,642
2.151.958
7,316
54.000
70.146
16.146
21.966.209
21.331,243
(634.966)
25,324
21,198
4,126
1.348,348
1,168,049
180.299
3.688.400
3,476.'81
211,619
1,551,028
1.386.922
164.106
6.682.908
5,070.009
1,612.899
1,556,294
1,383.146
173,148
481,515
271,131
210,384
12,128,281
5,355.271
6,773,010
2,500,000
2.500.000
320,000
320.000
2,820.000
2,820,000
352,900
350.000
2,900
394,500
394.305
195
747,400
744.305
3.095
4,910,1,67
4.529.251
381.516
714,500
714.305
195
28.971,631
20.017.561
8,954,070
(2.766,125)
(2.377293)
388,832
(660,500)
(644.159)
16.341
(7,005.422)
1,313.682
8,319.104
60.500
60500
670,000
669,189
(811)
1.102.445
1,481.809
379.364
(536.000)
(535.351)
649
(1.603.911)
(1,481.809)
122,102
(475,500)
(474,851)
649
670,000
669.189
(811)
(501.466)
501.466
S f3.241,625)
(2.852.144)
S 389,481
S 9.500
25.030
S 15.530
S (7,506.888)
1.313.682
S 8,820.570
11.372.026
806,845
44518.954
101.036
101.036
5 8.620.918
S 831.875
S 45.933.672
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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 major 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 Grou
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.
8
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
,VOTE #1 — SU'V jWARY 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. 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 funds. Recurring operating
transfers are recorded by the receiving fund as an operating transfer in and as an addition to fund balance.
Such transfers are recorded by the disbursing fund as an operating transfer out and a reduction of fund
balance.
Due to /from accounts and advance to /from accounts are primarily related to advances made by the General
Fund to various Special Revenue and Capital Projects Funds and the Redevelopment Agency. Advances to
Special Revenue and Capital Projects Funds are current and will be repaid from the receipt of grant funds
and future revenues. Long -term advances to the Redevelopment Agency, which total $1,865,369 at June 30,
2000, are to be repaid over a indeterminate period of time, and bear simple interest at a rate of 8% annually.
These long -tern advances are fully reserved in the General Fund. In July 2000, the City Council reduced
the simple interest rate to 8% annually
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
,VOTE #1 — SUXfAf,4RY 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 6.5 percent of the 1 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 I to June 30 of each year. All tax liens are attached 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 I 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.
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, 2000. 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 $500 each, are capitalized at cost in the General Fixed Assets Account
Group. Contributed assets are recorded at the fair market value at the date of donation. Expenditures for
infrastructure (roads, curbs, sidewalks, and the like) 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.
l0
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
Jti NE 30, 2000
NOTE #1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
I. 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.
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
Governmental Accounting Standards Board (GASB) Statement Number 33
The Governmental Accounting Standards Board (GASB) has issued Statement No. 33, "Accounting and
Financial Reporting for Nonexchange Transactions ". The requirements of this Statement are effective for
financial statements for periods beginning after June 15, 2000. The Statement establishes accounting and
financial reporting standards to guide state and local governments' decisions about when to report the results
of nonexchange transactions involving cash and other financial capital resources.
The Statement identifies four classes of nonexchange transactions, these are: (a) derived tax revenues (for
example income taxes, sales taxes, and other assessments on earning or consumption), (b) imposed
nonexchange revenues (for example property taxes and fines), (c) government- mandates nonexchange
transactions (for example federal programs that state or local governments are mandated to perform), (d)
voluntary nonexchange transactions (for example certain grants and private donations).
The implementation may have a material effect on the financial statements of the City. Any material effect
will be recognized as a prior period adjustment.
CITY OF .IOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE�1 — SUM. 1. I,-IR1'OFSIGNIFICANTACCOUNTING POLICIES (Continued)
Governmental Accounting Standards Board (GASB) Statement Number 34
The Governmental Accounting Standards Board has issued Statement No. 34, "Basic Financial Statements —
and Management's Discussion and Analysis — for State and Local Governments ". This Statement
establishes a new financial reporting model for state and local governments. This new model requires that
at a minimum the basic financial statements of a government include: (1) Management's discussion and
analysis (MD &A) as a component of required supplementary information (RSI). (2) both government -wide
financial statements and fund financial statements, (3) notes to the financial statements and (4) RSI other
than MD &A.
The implementation of the Statement is mandated in three phases based upon a government's total annual
revenues of its governmental and enterprise funds in the fiscal years ending after June 15, 1999.
Phase 1 governments, those with annual revenues of $100 million or greater will be required to
implement for periods beginning after June 15, 2001.
Phase 2 governments, those with annual revenues of S 10 million or more but less than S 100 million will
be required to implement for periods beginning after June 15, 2002.
Phase 3 governments, those with annual revenues of less than $10 million will be required to implement
for periods beginning after June 15, 2003.
The Statement also requires that governments capitalize all infrastructure assets, and also include all debt of
the government in the Statement of Net Assets. (Although the implementation of the infrastructure assets
can be deferred until future years depending on the implementation Phase as noted above).
This will be a complete change in the presentation of government financial statements. The City of
Moorpark has already begun to develop plans and implement policies to prepare for the implementation of
the new reporting model defined within GASB Statements No. 34.
L. Deferred Compensation
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. Pursuant to the IRC 457 subsection (g), all amounts of compensation deferred
under the plan, all property, or rights are solely the property and rights of the employee and beneficiaries of
the Plan. Deferred 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. 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, 2000, were S 1,153.660.
12
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #1 - SUit1,'t-IARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
M. Total (Memorandum Only) Columns
The combined financial statements include certain "Memorandum Only" totals
mathematical summations of account totals by fund type and account group and
elimination of interfund transactions. Such totals are for information purposes only
consolidated financial information.
N. Reclassifications
which represent
do not reflect the
and do not present
Certain reclassifications have been made to the comparative total amounts reported in prior years in order to
conform to the current year's presentation.
NOTE #2 - BUDGETARY INFO&WA TION
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, Capital Projects Funds, and the Debt
Service 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 basis of accounting is consistent with generally accepted accounting principles applicable to the
City's financial statements.
The Council is authorized to make and has made appropriation adjustments to the budget during the year as
deemed necessary. Such adjustments, which are considered immaterial, are included in the budget amounts in
the accompanying general- purpose financial statements. Appropriations lapse at year -end.
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
city'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.
13
CITY OF MOORPARK
NOTES TO FINANCIAL, STATEMENTS
JUNE 30, 2000
NOTE #3 — C,4SH.4ND 1WESTWENTS (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, 2000 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, 2000 are as follows:
Unrestricted cash and investments S 39,115,418
Restricted cash and investments 1,082,005
Total Cash and Investments $40.197,423
The cash and investments are aggregated as follows:
Deposits $ 3,600,686
Petty Cash 660
Investments 36,596,077
Total Cash and Investments 540,197,423
14
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
.JUNE 30, 2000
NOTE i#3 — C.4SH.4ND INVESTMENTS (Continued)
The City's deposits at June 30, 2000 are categorized in the following table:
BANK BALANCE -
CATEGORY BANK CARRYING
1 2 3 BALANCES .AMOUNTS
Categorized
Deposits held with banks $ 363,508 S 3.006,323 S 3.369,831 S 3,600,686
Total $ 363.508 S 3,006,323 $ 3.369.831 S 3,600,686
Category 1: Includes deposits that are insured or collateralized with securities held by the City or its agent
in the City's name.
Category 2: Includes deposits that are collateralized with securities held by the pledging financial
institution's trust department or agent in the City" 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, 2000 are categorized in the following table:
CATEGORY
Carrying
Fair
(1) (2) (3)
Value
Value
Investments held in trust by
fiscal agents on behalf of the
City of Moorpark (restricted
assets) - investment agreement *
S 771,100
$ 771,100
Fidelity Money Market Fund *
47,397
47,397
State Treasurer's Local Agency
Investment Fund (1) *
35,774,252
35,733.668
Common Stock - Disney S 3,328
3.328
Total S 3.328 S - $
- $36.592.749
536,555,493
* Not required to be categorized.
IN
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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.
(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, 2000, the carrying amount of the pool was
$43,030,301,594 and the estimated market value for the pool (including accrued interest) was
543,453.950.163. The City's proportionate share of that value is 535,774,252. Included in LAIF's
investment portfolio are certain derivative securities or similar products in the form of structured notes
totaling $1,909,398,000, and asset - backed securities totaling $770,758,000. 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 No. 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
in LAIF 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 it's holding in LAIF. The City
had a contractual withdrawal value of 535,774,252 whose pro -rata share of fair value was estimated by the
state Treasurer to be $35,733,668. 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 ( "LAIF") 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 LAIF fall
under the auspices of the State Treasurer's office. The City is a voluntary participant in the investment pool.
16
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
.NOTE #4 — LONG -TERM DEBT
The following is a schedule of changes in long -term debt for the fiscal year ended June 30, 2000:
A. Employee compensated absences payable
B. Long -term advances from the General Fund
C. 1999 Tax Allocation Bonds
Balance
Beginning of
Year Additions Deletions
$ 180,031 $ 16,074
4,365,369
9,860,000
Balance
End of
Year
$ 196,105
S 2,500,000 1,865,369
320,000 9,540,000
Totals $14,405,400 S 16,074 S 2,820,000 $11,601,474
A. Employee Compensated Absences Payable
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. Advances from the General Fund
The City's General Fund has paid for services and start-up expenditures incurred by the Redevelopment
Agency (short-term advances). The balance of these short-term operating advances amounted to $865,369
at the beginning of the fiscal year and were completely repaid during the 1999 -2000 fiscal year. During the
fiscal year ended June 30, 1994, the City's General Fund also advanced S3.5 million to purchase certain
properties within the Redevelopment Agency project area (long -term advance). This long -term advance
accrues interest at 8 percent and is to be repaid over an indeterminate period. During the 1999 -2000 fiscal
year, the Agency paid $1,634,631 on the long -term advance. The balance of the advance from the General
fund totaled $1,865,369 at June 30, 2000.
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.
17
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0
CITY OF MOORPARK
VOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
.'VOTE #5 — LOPV- 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 — AGREEWENTS 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 tax increment revenues up to S1,750,000. 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 $1,000,000 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 tax increment available to the Agency in each of such fiscal years.
The second agreement is with the City of Moorpark Vector Control, formerly known as the Moorpark Mosquito
Abatement District 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 District (the "School District "), and states that the
School District 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 (33.3101,10) 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 District as a contribution to a new School
District 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.
19
CITY OF MOORPARK
VOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE . #6 — AGREEWENTS WITH VARIOUS TAXING AGENCIES (Continued)
The fourth agreement is with the Ventura County Community College District (the "Community College
District "), and states that the Community College District 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°/x) of tax increment revenues generated by an annual
2° o 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 Superintendent of Schools Office (the "Superintendent "), and
states that the Superintendent 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 (Ca1PERS), and agent -
multiple- employer plan administered by CalPERS, which acts as a common investment and administrative
agent for participating public employers within the State of California. A menu of benefit provisions as well
as other requirements are established by State statutes within the Public Employees' Retirement Law. The
City of Moorpark selects optional benefits through local ordinance. CalPERS issues a separate
comprehensive annual financial report. Copies of the CalPERS' annual financial report may be obtained
from the Ca1PERS Executive Office — 400 P. Street, Sacramento, CA 95814.
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.
20
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
:VOTE #7 - RETIREMENT PL.4NS (Continued)
B. Funding Policy
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 actuarially determined remaining amounts necessary to fund the
benefits for its members. The actuarial methods and assumptions used are those adopted by the Ca1PERS
Board of Administration. The required employer contribution rate for the fiscal year ended June 30, 2000
was .826 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 CalPERS.
C. Annual Pension Cost
For the year ended June 30, 2000, the City of Moorpark's annual pension cost and its actual contributions
were 518,373. The City also contributed $152,322 on behalf of employees. Employees directly contributed
$0. Total contributions were $170,695. The required contribution for the year ended June 30, 2000 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-tern 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.
Three -Year Trend Information
Fiscal Year Ending
6/30/98
6/30/99
6/30/00
Annual Pension Cost
_ (APC)
$82,374
$91,092
518,373
21
Percentage of APC
Contributed
100%
100%
100%
Net Pension
Obligation
$0
$0
$0
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
Funded Status of the Plan
Unfunded
Actuarial (Overfunded)
Value of Liability
Assets (UAAL)
$2,728,583
Entry Age
$3,504,389
Normal
$4,399,396
Accrued
Valuation Date
Liability
6/30/97
$2,029,821
6/30/98
$2,359,258
6/30199
$3,105,530
Unfunded
Actuarial (Overfunded)
Value of Liability
Assets (UAAL)
$2,728,583
($698,762)
$3,504,389
($1,145,131)
$4,399,396
($1,293,866)
,VOTE #8 — PROPERTY AND EQUIPMENT
Annual UAAL As a
Funded
Covered
% of
Ratio
Payroll
Payroll
134.4%
S1,746,190
(40.02 )%
148.5%
52,119,784
(54.02)%
141.7%
52,067,768
(62.57)%
A summary of changes in general fixed assets for the year ended June 30, 2000 follows:
Land
Buildings and structures
Improvements other than buidlings
Office furniture and equipment
Other equipment
Totals
Balance
Beginning of
Year Additions
$ 9.941,039
3,712,775
5,395,709
1,068,217 S 36,208
1 079 4R4 37 597
Balance
End of
Deletions Year
$ 9,941,039
3,712,775
5,395,709
1,104,425
1 067 091
$21,147,224 $ 73,805 $ 21,221.029
22
CITY OF INIOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
;VOTE #9 — INTERFUND TRANSACTIONS
A summary of operating transfers and interfund receivablesipayables as of and for the year ended June 30, 2000
is included in the following table:
Operating Operating Due From Due To
Transfers In Transfers Out Other Funds Other Funds
General Fund S 812,620 S 936,912
Special Revenue Funds
Traffic System Management Fund
Citywide Traffic Assistance
Local Transportation Streets Fund
Local Transportation Transit Fund
Assessment District Fund $ 250,654
Park Development
Areas of Contribution Fund
Low- and Moderate - Income Housing Fund
ISTEA Fund
State Gas Tax Fund
State Transit Assistance
Solid Waste 501,466
Other Grants Fund
CDBG Entitlement Fund
Total Special Revenue Funds 752,120
Capital Projects Funds
Capital Projects Funds
Equipment Replacement Fund
Redevelopment Agency Fund
Total Capital Projects Funds
Debt Service Fund
Total
S 42,461
176,000
2,160,752 1,675,105
133,838 9,479
633,999
76,340
2,303
133,838 2,160,752 2,615,687
60,500
535,351 481,977
60,500 535,351 $ 481,977
669,189
$ 1,481,809 $ 1,481,809 S 3,097,664 S 3,097.664
23
CITY OF NIOORYARK
VOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE i#10 — CO ;WMITWENTS 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
commitments total approximately 53,437,102 for the year ended June 30, 2000.
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 Citv 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 — CONDUIT DEBT — REVENUE BONDS
The City sponsored a revenue bond program during the year ended June 30, 1985 under which $20.000,000 of
Single- Family Residential Mortgage Revenue Bonds were issued. The Single- Family Mortgage program is
designed to provide funds to acquire mortgage loans on single- family residences located in the City. These
bonds are secured by a pledge of all loans receivable advanced from the bond proceeds by the trustee, First
Interstate Bank of California, and are serviced from payments on the loans to the Trustee. During the year
ended June 30, 1995, the outstanding mortgages in this program were sold, the proceeds were used to establish
an irrevocable trust to defease the bonds at April 1, 1995, and the program was discontinued.
The City sponsored a revenue bond program during the year ended June 30, 1986, under which $22,600.000 of
Multi - Family Housing Revenue Bonds were issued. The program was designed to assist in making low- and
moderate -cost rental housing available in the City. The City was guaranteed that 10 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 period. These bonds were secured by a letter of credit issued by Citibank. N.A., dated December 23, 1985.
The program is administered by the Trustee, Bank of America. The bonds were refinanced during the year
ended June 30, 1992. The unpaid principal balance on the refinanced bonds is 521,700,000 at June 30, 2000.
24
CITY OF MOOR-PARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #11 — CONDUIT DEBT — 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. Dal Ichi Kangyo Bank of California serves as the
Trustee for these bonds. The unpaid principal balance on such bonds is $6,795,000 at June 30, 2000.
The City of Moorpark Mobile Home Park Revenue Bonds (Villa Del Arroyo) Series 2000 A and the City of
Moorpark Mobile Home Park Subordinate Revenue Bonds (Villa Del Arroyo) Series 2000 B were issued in the
amounts of $12,740,000 and 52,635,000 respectively. Both issuances were dated May 19, 2000. The Series A
bonds were issued to fund a loan to Augusta Homes, a California non - profit public benefit corporation to
finance the acquisition of the Villa Del Arroyo Mobile Home Park. The Series B bonds were issued for the
same purpose but are subordinate to the Series A bonds. The total bonds outstanding at June 30, 2000 total
$15,375,000.
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 from any source other than
the revenues and assets pledged therefor. The programs are completely administered by the Trustees without
any involvement by the City. Accordingly, these programs and the bonds issued thereunder have been excluded
from the accompanying general - purpose financial statements.
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 $2,595,000, of which $735,000 and
$1,475,000 mature in 2013 and 2023, respectively, were issued under the 1915 Improvement Bond Act and are
obligations against the properties in the assessment district. The special assessment, which is collected with
other property related taxes as part of the secured property tax bill for properties in the assessment district, will
be forwarded to an independent bank that serves as the paying agent. These bonds do not constitute an
indebtedness of the City, and the City is not liable for their repayment. Accordingly, these special assessment
bonds payable have been excluded from the accompanying general - purpose financial statements. The unpaid
principal balance on such bonds is $2,230,000 at June 30, 2000.
2 ;
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #12 — SPECIAL ASSESSMENT BONDS (Continued)
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 $7,645,000, were
issued pursuant to the Mello -Roos Community Facilities Act of 1982. The bonds mature on September 1, 2008
with interest payable at rates ranging from 4.4 percent to 6 percent per annum on March 1 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 fiscal agents to pay the bondholders and initiating foreclosure proceedings, if
appropriate. Accordingly, these bonds payable have been excluded from the accompanying general - purpose
financial statements. The unpaid principal balance is $7,525,000 at June 30, 2000.
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 A r� eement
The City is a member of the California Joint Powers Insurance Authority (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.
26
CITY OF MOORPARK
VOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
:VOTE #13 — RISK .1✓fANAGEME.NT (Continued)
B. Self - Insurance Programs of the Authority
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 520,000; costs from $500,001 to $5,000,000
are pooled based on payroll. Costs of covered claims above 55,000,000 are currently paid by reinsurance.
The protection for each member is $50,000,000 per occurrence and $50,000,000 annual aggregate.
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 550,000. 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.
27
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE X14 — FUND BALANCES
The State Gas Tax Special Revenue Fund has designated $109,002 for replacement of equipment. The
Redevelopment .Agency has designated $4,140,056 of fund balance in the Redevelopment Agency Capital
Projects Fund for business incentives and future capital projects.
.'VOTE #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.
NOTE #16 — PROPOSITION 218
The voters recently approved the "Right to Vote on Taxes Act" (Proposition 218) which limits the City's ability
to leN v 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 — PRIOR PERIOD ADJUSTMENT
The agency has recorded a prior period adjustment of $101,036 in the Capital Projects Fund to restate the
beginning balance of notes receivable to the proper balance.
28
CITY OF MOORPARK
COMBINING BALANCE SHEET
ALL SPECIAL REVENUE FUNDS
JUNE 30, 2000
(With Comparative Amounts for June 30, 1999)
ASSETS
Cash and Investments
Restricted cash and investments
Accounts and interest receivable, net
Taxes receivable
Notes & loans receivable
Due from other funds
Other assets
Land held for resale
Total Assets
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities
Deposits, principally from developers
Due to other funds
Deferred revenue
Total Liabilities
FUND BALANCES
Fund balances and other credits:
Reserved for encumbrances
Reserved for receivables due after one year, net
Reserved for land held for resale
Reserved for low/moderate income housing
Unreserved:
Designated
Undesignated
Total Fund Balances
Total Liabilities and Fund Balances
Traffic Citywide Local
Traffic Svstem Traffic Transportation
Safety Management Mineation Streets
S 156,297 S 1,522,397 S 1,754,491 $ 2,324,109
30,084 20,839 23,305 32,559
1 19,868
$ 186,381 $ 1,663,104 S 1,777,796 S 2,356,668
2344 112 47,697
119,868
2.144 119,868 112 47,697
24,981
184,237
1,518,255
1,777.684
2,308,971
184,237
1,543,236
1,777,684
2,308,971
$ 186,381
S 1,663,104
S 1,777,796 S
2,356,668
19
S
S
S
Local
Transportation Crossing
Transit Guard
Assessment Areas of Park Communiry Affordable
District Contributions Development Development Housing
146,422 S 105,177 S 502,311
S 8, 143,428 S
789.465 $
575.457 S 586,695
188,351
263,508
2.326.571
235.753 371.980
576 1,622 6,256
116,626
125,531
328 8,842
31,968
540,535 S
11,152,092 S
917.797 S
575,785
467,778
2,801
62,533
2,160,752
146,998 S 106,799 S 540,535
S 11,152,092 S
917.797 S
575.785 S 658,070
16,836
159,270
42,461
129,567
146,403 201,731
595
1,364
463,115
56,952 372,980
1,675, 105
176,000
188,351
2,801
2.326.571
235.753 371.980
77,933 19,812
467.778
723
723
62,533
106,799
337,440
8,279,810
662,232
202,805
594.814
595 106.799
338,804
8,825,521
682,044
202.805
657,347
146.998 S 106,799 S
540,535 S
11,152,092 S
917.797 S
575,785
S 658,070
KI17
CITY OF MOORPARK
COMBINING BALANCE SHEET (Continued)
ALL SPECIAL REVENUE FUNDS
JUNE 30, 2000
(With Comparative Amounts for June 30, 1999)
ASSETS
Cash and Investments
Restricted cash and investments
Accounts and interest receivable, net
Taxes receivable
Notes & loans receivable
Due from other funds
Other assets
Land held for resale
Total Assets
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities
Deposits, principally from developers
Due to other funds
Deferred revenue
Total Liabilities
FUND BALANCES
Fund balances and other credits:
Reserved for encumbrances
Reserved for receivables due after one year, net
Reserved for land held for resale
Reserved for low.!moderate income housing
Unreserved:
Designated
Undesignated
Total Fund Balances
Total Liabilities and Fund Balances
31
Low and
State
State
Moderate
Gas
Transit
Income Housing
Tax
Assistance
S 1.583,748 S
1,814,746
S 2,237
20,023
34,034
845
5,075
128,268
31
1,500.000
S 3,237,145 S
1,848,780
S 3,082
2,222 37,362
26,500
9,479
2,000
38,201 39,362
251 29,361
128,268
1,500,000
1,570,425
109,002
1,671,055 3,082
3,198,944 1,809,418 3,082
S 3,237,145 S 1,848,780 S 3,082
Transportation
Development
Act (Article 3) I.S.T.E.A.
S 43,978
1,493 S 633,999 S
Police
CDBG Other Facilities Fee Solid
Entitlement Grants Endowment Fund Waste
S 4,739,652 S 761,012 S 609,277
6,272 S 121,921 71,278 11,196 32,383
S 45,471
S 633.999 S
6.272 S
121.921
S 4,810,930 S
772,208
S 641.760
3,969
10.690
633,999
2,303
76,340
633.999
6.272
76,340
10.690
45,471
45,581
4,810.930
772,208
631,070
45,471
45,581
4,810,930
772,208
631.070
S 45.471
S 633,999 S
6,272 S
121.921
S 4,810,930 S
772,208
S 641,760
32
CITY OF MOORPARK
COMBINING BALANCE SHEET (Continued)
ALL SPECIAL REVENUE FUNDS
JUNE 30, 2000
(With Comparative Amounts for June 30, 1999)
TOTALS
ASSETS
,,,,,,
Cash and Investments
S 26,160,899
$ 72,766,694
Restricted cash and investments
263,508
7,321,576
Accounts and interest receivable, net
1,300,112
1,530,372
Taxes receivable
37,043
1,500,000
Notes & loans receivable
781,2.18
119,868
Due from other funds
2,160,752
1,364,703
Other assets
31
109,002
Land held for resale
1,500,000
1.500,000
Total Assets $ 32,203,593 S 27,281,637
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 1,174,072 409,899
Deposits, principally from developers 26,500 25,000
Due to other funds 2,615,687 1,552,616
Deferred revenue 442,587 452,768
Total Liabilities 4,258,846 2,440,283
FUND BALANCES
Fund balances and other credits:
Reserved for encumbrances
216,830
7,321,576
Reserved for receivables due after one year, net
596,046
1,236,204
Reserved for land held for resale
1,500,000
1,500,000
Reserved for low /moderate income housing
1,570,425
1,273,206
Unreserved:
Designated
109,002
109,002
Undesignated
23,952,444
13,401,366
Total Fund Balances
27,944,747
24,841.354
Total Liabilities and Fund Balances
$ 32,203,593
S 27.281.637
33
CITY OF `IOORPARK
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CH -kNGES IN FUND BALANCES
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
(With Comparative Amounts for the Fiscal Year Ended June 30, 1999)
Traffic Citywide
Traffic System Traffic
Safety Management Mitigation
REVENUES
Property taxes
Other tares
Utility franchise fees
Building and safety fees
Maintenance assessments
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures
Interest
Other
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service
Principal
Interest
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Operating transfers in
Proceeds from special district dissolution
Operating transfers out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
Fund Balances, Beginning of Year
Fund Balances, End of Year
Local
Transportation
Streets
S 398,970 S 479,392 S 7,482
662,927
S 125,126
7,114 71,041 78,378
132,240 470,011 557,770
29,400
39,101
115.526
785,935
34
21,964
112
640,175
21,964
640,175
68,501
112
63,739
448,047
557,658
145,760
448,047
145,760
63,739
557,658
120,498
1,095,189
1,220,026
2,163.211
S 184,237 S
1,543,236
S 1,777.684 S
2,308,971
34
Local
Transportation
Crossing
Assessment
Areas of
Park
Community
Affordable
Transit
Guard
District
Contributions
Development
Development
Housing
S 8.521
453.189
S 1,144,141
S 734,391
S 41,534
$ 88,698
1,949,385
113,342
1,315,327
133.543
18,300
1,500
(17,786)
12.039
8.236
2,075
2,370
1,495
S 5,792
21,408
434,254
41,619
S 35,751
2,406
555
7,549
108,493
5,792
1,171,530
3,100,244
342,077
1,788,198
43,300
3,000
300
8,041
107,891
639,563
27,367
1,777,787
11,541
687,657
2,130
7
11,221
2,654,124
287,889
5.638
8,041
107,898
1,341,441
2,681,791
290.019
1,783,425
11,541
595
(2,249)
(169,911)
418,453
52,058
4,773
31,759
250,654
250,654
595
(2,249)
80,743
418,453
52,058
4,773
31.759
109,048
258.061
8,407.068
629.986
198,032
625,588
S 595
S 106.799
S 338,804
S 8,825,521
S 682,044
S 202.805
S 657,347
9161
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, 2000
(With Comparative Amounts for the Fiscal Year Ended June 30, 1999)
REVENUES
Property taxes
Othertaxes
Utility franchise fees
Building and safety fees
Maintenance assessments
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures
Interest
Other
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service
Principal
Interest and fiscal
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Operating transfers in
Proceeds from special district dissolution
Operating transfers out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
Fund Balances, Beginning of Year
Fund Balances, End of Year
36
Low and State
Moderate Gas
Income Housing Tax
S 399,572
State
Transit
Assistance
S 552,225
418
10,231 646
73,996 98,173 S 3,135
6,563
483,799 658,025 3,135
62,961
567,425 64,000
1,546
112,463
679,888 64,000
64,507
419,292
(21,863) (60,865)
(133,838)
(133.838)
285,454 (21,863) (60,865)
2,913,490 1,831,281 63,947
S 3,198.944 S 1.809.418 S 3,082
Transportation Police
Development CDBG Other Facilities Fee
Act (Article 3) I.S.T.E.A. Entitlement Grants Endo�%ment Fund
cM„A
37
S
194,497
S 330,',59 S
61,083
S 18,000
S 633,999 S
484,797
S 112,070
S
28,863
880
1,100
5,473
89,662
39,100
31,640
24,353
633,999
485,897
112,070
420,421
100.183
255,000
19,851
46,968
123,724
11,388
76,697
633,999
427,541
92,218
1,672
76,697
633,999
485.897
112,069
125,396
(52,344)
1
420,421
100, 183
129,604
501,466
501,466
(52,344)
1
420,421
100,183
631,070
97,815
45.580
4.390,509
672,025
S 45,471
S S
S 45,581
S 4.810,930 S
?72,208 S
631,070
37
CITY OF NIOORPARK
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
(With Comparative Amounts for the Fiscal Year Ended June 30, 1999)
REVENUES
Property taxes
Othertaxes
Utility franchise fees
Building and safety fees
Maintenance assessments
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures
Interest
Other
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Debt service
Principal
Interest and fiscal
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Operating transfers in
Proceeds from special district dissolution
Operating transfers out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
Fund Balances, Beginning of Year
Fund Balances, End of Year
38
TOTALS
2000
1999
S 399,572
47,172
560,746 S
560,353
194,497
2,667,025
453,189
290,234
3,197,752
3,859,161
4,092,499
744,285
1,315,327
760,772
133,543
136,805
35,146
198,950
129,571
135,245
1,153,557
909,641
17,073
80,965
11,682,472
7,676,411
3,300
47,172
57,292
3,468,328
2,667,025
701,175
7,600
4,967,266
237,689
9,197,361
2,485,1 1 1
163,202
7,800
3,130,488
4,545,923
752,120 825,074
1,452, 845
(133,838) (2,324,569)
618,282 (46,650)
3,103,393 4,499,273
24,841,354
S 27,944, 747 S
20,342,081
24,841.354
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, 2000
Total Revenues
93.400
132.240
38.840
Traffic
470.011
414.011
EXPENDITURES
Tratiic
System
Safety
Management
Variance
Variance
Favorable
Public safety
Favorable
29,400
Budget
Actual
(Unfavorable) Budget
Actual
(Unfavorable)
REVENUES
39.101
11,854
Property taxes
Othertaxes
Capital outlay
47.200
Utility franchise fees
25.236
Total Expenditures
83.150
68.501
14.649
Building and safety fees
21.964
25.236
EXCESS (DEFICIENCY) OF REVENUES
Maintenance assessments
S 398.970
5 398,970
Subventions and grants
53.489
8.800
448.047
439.247
OTHER FINANCING SOURCES (USES)
Planning and public works fees
Park development fees
Charges for current services
Operating transfers out
Fines and forfeitures
S 90.000
S 125,126
S 35.126
Interest
3,300
7,114
3.814 S 56,000
71,041
15,041
Other
100
(100)
AND OTHER SOURCES OVER
Total Revenues
93.400
132.240
38.840
56.000
470.011
414.011
EXPENDITURES
Current:
General government
Public safety
32,195
29,400
2.795
Public services
50,955
39.101
11,854
Parks and recreation
Capital outlay
47.200
21.964
25.236
Total Expenditures
83.150
68.501
14.649
47.200
21.964
25.236
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
10.250
63.739
53.489
8.800
448.047
439.247
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
S 10.250
63.739 S
53.489 S
8.800
448.047 S
439.247
Fund Balances, Beginning of Year
120.498
1.095.189
Fund Balances, End of Year
S 184.237
S 1.543.236
39
Citywide
Local
Local
TraMc
Transportation
Transportation
Mitigation
Streets
Transit
Variance Variance
Variance
Favorable Favorable
Favorable
Budget Actual
(Unfavorable) Budget Actual (Unfavorable)
Budget .Actual (Unfavorable)
S 479,392 S 479,392 S 7,482 S 7.482
S 662.927 662,927 S 171.320 S 88.698 S (82,622)
18,'_50 18,300 50
S 60.000 78,378 18.378 90.000 115,526 25.526 1,500 1,495 (5)
60.000 557,770 497,770 752,927 785.935 33.008 191.070 108.493 (82.577)
133,120 107.891 25,229
10.000 112 9.888 1.208.023 640.175 567.848 1.200 7 1.193
10.000 112 9.888 1,208.023 640.175 567.848 134.320 107.898 26.422
50.000 557.658 507,658 (455.096) 145,760 600.856 56.750 595 (56.155)
S 50.000 557,658 S 507.658 S (455.096) 145,760 S 600.856 S 56.750 595 S (56.155)
1.220.026 2.163,21 1
S 1.777,684 S 2.308.971 S 595
40
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, 2000
41
Crossing
Assessment
Guard
District
Variance
Variance
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
REVENUES
Property taxes
Othertaxes
L'tility franchise fees
Building and safety fees
Maintenance assessments
S
1.091,452
S 1,144.141
S 52,689
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services
3,000
1,500
(1.500)
Fines and forfeitures
2.075
2.075
Interest
S 6,100
S 5,792
S (308)
21,408
21.408
Other
2,406
2.406
Total Revenues
6.100
5.792
(308)
1.094.452
1.171.530
77,078
EXPENDITURES
Current:
General government
3,000
3.000
Public safety
11,480
8,041
3.439
Public services
679,043
639.563
39,480
Parks and recreation
771,241
687.657
83,584
Capital outlay
33,400
11.221
22.179
Total Expenditures
1 L480
8.041
3.439
1,486.684
1.341.441
145.243
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
(5,380)
(2249)
3,131
(392.232)
(169.911)
222.321
OTHER FINANCING SOURCES (USES)
Operating transfers in
371,945
250,654
(121,291)
Operating transfers out
Total Other Financing Sources (Uses)
371.945
250.654
(121,291)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
S (5,380)
(2,249)
S 3.131 S
(20.287)
80,743
S 101.030
Fund Balances. Beginning of Year
109.048
258.061
Fund Balances. End of Year
S 106.799
S 338.804
41
5 (3.458.740) 418.453 S 3.877,193 S 855.540 52,058 S (803.482) S 196.664 4,773 S (191.891)
8.407.068 629,986 198.032
5 8.825.521 S 682.044 S 202.805
42
Areas of
Park
Community
Contributions
Development
Development
Variance
Variance
Variance
Favorable
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
actual
(Unfavorable)
S 8,920
S 8,521
S (399)
446,619
453,189
6.570
S 752.000
S 734,391
S (17,609)
5 175,000
S 41,534
S (133.466)
1.948.000
1.949.385
1,385
113,342
1 13.31'_
2,324,718
1,315,327
(1.109,391)
1,000.000
133.543
(866.457)
300.000
(17,786)
(317,786)
12,039
12.039
800
8.236
7,436
2,370
2,370
57.700
434.254
376.554
39,670
41,619
1,949
555
555
3.057.700
3.100.244
42.544
1,214.670
342,077
(872.593)
2.881.057
1.788.198
(1.092.859)
300
300
7.570
27,367
(19,797)
2.677,293
1.777.787
899,506
4,000
2,130
1,870
6.508.570
2.654,124
3.854.446
355.130
287,889
67.241
7.100
5,638
1.462
6.516.440
2.681,791
3.834.649
359,130
290.019
69.III
2.684.393
1.783.425
900.968
(3.458,740)
418.453
3,877,193
855,540
52,058
(803.492)
196.664
4,773
(191.891)
5 (3.458.740) 418.453 S 3.877,193 S 855.540 52,058 S (803.482) S 196.664 4,773 S (191.891)
8.407.068 629,986 198.032
5 8.825.521 S 682.044 S 202.805
42
CITY OF �IOORPARK
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, 2000
REVENUES
Property taxes
Othertaxes
Utility franchise fees
Building and safety fees
Maintenance assessments
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures
Interest
Other
Total Revenues
EXPENDITURES
Current:
General government
Public satery
Public services
Parks and recreation
Capital outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
Fund Balances. Beginning of Year
Fund Balances. End of Year
Low and
Affordable Moderate
Housine Income Housing
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
S 399,400 S 399,572 S 172
(134.000) (133.838)
(134.000) (133.838)
162
162
_L _L63.720) 31.759 S 95.479 S 28.255 285,454 S 257.199
625.588 2.913.490
S 657.347 S 3.198.944
43
10.231
10.231
S 31,000 S
3 5.75 1 S
4,751
55.000
73,996
18,996
'.549
7.549
31,000
43.300
12.300
454.400
483.799
29,399
94,720
11,541
83.179
290.845
62,961
227,884
1,300
1,546
(246)
94,720
11.541
83.179
292.145
64,507
227,638
(63,720)
31.759
95.479
162.255
419.292
257.037
(134.000) (133.838)
(134.000) (133.838)
162
162
_L _L63.720) 31.759 S 95.479 S 28.255 285,454 S 257.199
625.588 2.913.490
S 657.347 S 3.198.944
43
670.651
State
103,226
64,000 64,000
State
180.963
112.463
Transportation
30.000
30.000 83.000 76.697 6.303
Gas
679,888
171,726
Transit
30.000 83.000 76.697 6.303
(22'.614)
Development
205.751
(91.000) (60.865)
Tax
Assistance
.Act (Article 3)
Variance
Variance
Variance
Favorable
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
(unfavorable)
S 551.000
S 552,225
S 1,225
418
418
S 18,000
S 18.000
646
646
880
S 880
73.000
98,173
25,173
S 3.000
S 3,135
S 135
3.200
S 5.473
2,273
6.563
6,563
624.000
658.025
34.025
3.000
3.135
135
21,200
24.353
3.153
670.651
567.425
103,226
64,000 64,000
180.963
112.463
68.500
30.000
30.000 83.000 76.697 6.303
851.614
679,888
171,726
94.000 64.000
30.000 83.000 76.697 6.303
(22'.614)
(21,863)
205.751
(91.000) (60.865)
30,135 (61,800) (52.344) 9.456
S (227.614) (21,863) S 205,751 S (91.000) (60,865) S 30.135 S (61.800) (52.344) S 9.456
1.831.281 63.947 97.815
S L809.418 S 3.082 S 45.471
44
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, 2000
REVENUES
Property taxes
Othertaxes
Utility franchise fees
Building and safety fees
Maintenance assessments
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures
Interest
Other
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services
Parks and recreation
Capital outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
Fund Balances, Beginning of Year
Fund Balances, End of Year
CDBG
I.S.T.E.A. Entitlement
Vanance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
S 1,170,000 S 633,999 S (536.001) S 850,563 S 484.797 S (365,766)
1,100 1.100
1.170,000 633.999 (536.001) 850,563 485,897 (364.666)
41,765 46,968 (5,2031
10,114 11,388 (1,274)
2.058.799 633.999 1.424.800 798,684 427,541 371,143
2.058.799 633.999 1.424,800 850.563 485.897 364.666
(888.799) 888.799
S (888,799) S 888.799 S
S
45
S
S
Police
Other Facilities Fee
Grants Endowment Fund
Variance Vanance Variance
Favorable Favorable Favorable
Budeet Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
S 131,658 S 112,070 S (19,588)
S 330,759 S 330,759 130,000 S 61.083 5 (68.917)
S 89.057 89.662 605 S 35.000
300 (300)
131.658 112.070 (19.588) 89.357
39,100 4,100
420.421 331.064 165.000 100.!83 (64.817)
36,691 19,851 16,840
12.450 12,450
92.219 92.218 1
141.360 112,069 29.291
(9.702) 1 9.703 89.357 420.421 331.064 165.000 100.183 (64,817)
S (9.702) 1 S 9.703 S 89.357
45.580
S 45.4z 81
420.421 S 331.064 S 165.000
4.390.509
S 4.810.930
MI
100,183 S (64.817)
672.025
S 772.208
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, 2000
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES S 69.525
Fund Balances, Beginning of Year
Fund Balances. End of Year
631.070 S 561.545 S (3.751.997)
S 631.070
47
3,103.393 S 6.855.390
24.841.354
S 2" .944.747
Solid
Waste
Total
Variance
Variance
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
REVENUES
Property taxes
S 399,400
S 399,572
S 172
Other taxes
559,920
560.746
826
L;tility franchise fees
S 186,450
5 194,497
S 8,047
186,450
194,497
8.047
Building and safety fees
446,619
453.189
6,570
Maintenance assessments
2.148.452
3.197,752
1.049.300
Subventions and grants
28,800
28.863
63
4,981.268
4.092.499
(888.769)
Planning and public tisorks fees
2.424,718
1.315.327
(1,109,391)
Park development fees
1,000,000
133,543
(866,457)
Charges for current services
322.050
35.146
(286.904)
Fines and forfeitures
90.000
129.571
39.571
Interest
24.000
31,640
7,640
627,527
1.153557
526.030
Other
400
17.073
16.673
Total Revenues
239.250
255.000
15.750
13.186.804
11,682.472
(1,504,332)
EXPENDITURES
Current:
General government
3,300
3.300
-
Public safety
80,366
57,292
23.074
Public services
167,925
123.724
44,201
4,890,337
3.468.328
1.422.009
Parks and recreation
785.355
701.175
84,180
Capital outlay
1,800
1,672
128
11.417.388
4,967.266
6.450.122
Total Expenditures
169,725
125.396
44.329
17,176.746
9.197.361
7.979.385
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
69.525
129.604
60.079
(3.989.942)
2.485.111
6.475.053
OTHER FINANCING SOURCES (USES)
Operating transfers in
501,466
501.466
371,945
752.120
380.175
Operating transfers out
(134,000)
(133.838)
162
Total Other Financing Sources (Uses)
501,466
501,466
237,945
618.282
380.337
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES S 69.525
Fund Balances, Beginning of Year
Fund Balances. End of Year
631.070 S 561.545 S (3.751.997)
S 631.070
47
3,103.393 S 6.855.390
24.841.354
S 2" .944.747
CITY OF MOORPARK
COMBINING BALANCE SHEET
ALL CAPITAL PROJECTS FUNDS
JUNE 30, 2000
(With Comparative amounts for June 30, 1999)
ASSETS
Cash and Investments
Accounts and interest receivable, net
Taxes receivable
Notes & loans receivable
Other assets
Total Assets
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities
Deposits, principally from developers
Due to other funds
Total Liabilities
FUND BALANCES
Fund balances and other credits:
Fund balances:
Reserved for encumbrances
Reserved for receivables due after one year, net
Unreserved:
Designated for business incentives
Designated for capital projects
Undesignated
Total Fund Balances
Total Liabilities and Fund Balances
TOTALS
City Hall
Equipment
Redevelopment
2,370 2,370
481,977
Building
Replacement
Agency
2000
1999
3,906,378
6,555,954
439,904 302,846
742.750
670,923
S 433,208
$ 299,150
S 4,502,344
S 5,234,702
S 7,938,892
6,696
4,620
251,714
263,030
477,690
20,298
20.298
3,737,740
3,737,740
3,687,414
10,086
10,086
S 439,904
S 303,770
S 8,522,182
S 9,265,856
S 12,103,996
924 159,667
160,591 729,600
2,370
2,370 2,370
481,977
481,977
924 644,014
644,938 731,970
372
372
136,359
3,737,740
3,737,740
3,775,1 12
233,678
233,678
233,678
31906,378
3,906,378
6,555,954
439,904 302,846
742.750
670,923
439,904 302,846 7,878,168
8.620,918
11,372,026
S 439,904 S 303,770 S 8,522,182
S 9.265.856
S 12,103,996
48
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES, EXPENDITURES A.rD
CHANGES IN FUND BALANCES
ALL CAPITAL PROJECTS FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
(With Comparative Amounts for the Fiscal Year Ended June 30, 1999)
REVENUES
Property taxes
Othertaxes
Maintenance assessments
Charges for current services
Fines and forfeitures
Interest
Other
Total Revenues
EXPENDITURES
Current:
General government
Public services
Parks and recreation
Capital outlay
Debt service
Principal
Interest
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
Fund Balances, Beginning of Year
Prior Period Adjustment
Fund Balances, End of Year
TOTALS
City Hall Equipment Redevelopment
Building Replacement Agency 2000 1999
S 1,589,397 S 1,589.397 S 1,785,733
300 300
108,532
1,755
S 23,808 S 15,562 412,604
23,808 15,562 2,112,588
(2,250)
108,532
112,299
1,755
21.198
451,974
1,089,363
22,495
2,151,958
3.007,640
20,894
304
21.198
691,096
1,386,922
1,386,922
290,319
38,658
15,569
255,562
271,131
1,682,472
2.500.000
2,500,000
2,500,000
350.000
350.000
475,000
20,894
15,873
4,492,484
4.529.251
5,677,545
2,914
(311)
(2.379,896)
(2.377.293)
(2,669,905)
60,500
60,500
1,919,516
(535,351)
(535,351)
(1,025,075)
60.500
(535.351)
(474,851)
894.441
2,914
60,189
(2,915,247)
(2,852,144)
(1,775,464)
436,990
242,657
10.692,379
11,372,026
13,147,490
101,036
101.036
S 439,904
S 302,846
S 7.878,168
S 8.620.91 fi
S 11.372.026
49
CITY OF MOORPARK
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
ALL CAPITAL PROJECTS FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
REVENUES
Property taxes
Other taxes
Charges for current services
Fines and forfeitures
Interest
Total Revenues
EXPENDITURES
Current:
General government
Public services
Capital outlay
Debt service
Principal
Interest
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES
Fund Balances, Beginning of Year
Prior Period Adjustment
Fund Balances, End of Year
City Hall Equipment
Building Replacement
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 22,000 S 23,808 S
22.000 23.808
25,324 20,894
1,808 S 18,000 S 15.562 $ (2.438)
1,808 18,000 15.562 (2,438)
4,430 304 (304)
41,315 15,569 25,746
25,324
20,894
4,430
41,315
15,873
(3,324)
2,914
6.238
(23,315)
(311)
60,500 60,500
60,500 60,500
S (3,324) 2,914 S 6,238 $ 37,185
436,990
S 439.904
50
25,442
23,004
60,189 S 23,004
242,657
S 302,846
Redevelopment
Agency
Variance
Favorable
Budget Actual (Unfavorable) Budget
S 1,597,800 S 1,589,397 S
300
106,842 108,532
1,7,55
2,104,642 2,112,588
Total
Vanance
Favorable
Actual (Unfavorable)
(8,403) S
1,597,800
S 1,589,397 S
(8.403)
300
4,126
300
300
1,690
106,842
108,532
1,690
1,755
255,562
1,755
1,755
12.604
440.000
451,974
11,974
7,946
2,144,642
2,151,958
7.316
51
25,324
21,198
4,126
1,551,028
1,386,922
164,106
1,551,028
1,386,922
164,106
440,200
255,562
184,638
481,515
271,131
210.384
2,500,000
2,500,000
2,500,000
2,500,000
352,900
350,000
2,900
352.900
350,000
2,900
4,844,128
4,492,484
351,644
4.910,767
4,529,251
381.516
(2,739,486)
(2,379,896)
359,590
(2,766,125)
(2,377.293)
388,832
60,500
60,500
(536,000)
(535,351)
649
(536,000)
(535.351)
649
(536,000)
(535,351)
649
(475,500)
(474.851)
649
S (3,275,486)
(2.915,247) S
360.239
S (3,241.625)
(2,852,144) S
389,481
10.692.379
11,372,026
101,036
101.036
S
7,878.168
S 8,620.918
51
CITY OF MOORPARK
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUND - DEVELOPER DEPOSIT FUND
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
Fund Name
Cash and investments
Accounts receivable
Balance
June 30, 1999
Net Net Balance
Additions Reductions June 30, 2000
$ 1,167,092 $492,350 $ 1,659,442
775 T 775 -
Total Assets $ 1,167,817 $492,350 $ 725 $ 1,659,442
Accounts payable 240,848 70,540 170,308
Developer deposits 926,969 562,165 1,489,134
Total Liabilities $ 1,167,817 $562.165 $ 70,540 $ 1,659,442
52
STATISTICAL SECTION
CITY OF MOORPARK
REVENUES BY SOURCE
ALL GOVERNM. ENTAL 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
53
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
S 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
4,390,156
2,501,078
789,852
940,377
1,314,740
1,157,615
11,093,818
1996
4,282,265
2,672,673
1,021,458
2,991,121
2,320,057
1,746,631
15,034,205
1997
6,349,631
4,693,256
1,373,726
1.641,622
1,984,162
493,938
16,536,335
1998
4,879,322
4,587,138
1,170,287
1,630,996
1,988,731
623,362
14,879,836
1999
5,486,444
4,033,723
849,089
3,856,911
2,691,285
709,444
17,626,896
2000
6,099,037
4,377,998
4,325,305
3,197,752
2,384,356
946,795
21,331,243
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
53
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 2 0, 117
S 6,372,278
1991
1,095,824
1,887,083
1,867,800
588,433
1,829,471
15.669
7,234,280
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
126,414
10,628,7,41
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
1.081,8 14
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
2000
1,168,049
3,476,781
5,070,009
1,383,146
5,355,271
3,564,305
20,017,561
Governmental Fund Types include General Fund and all Special Revenue, Debt Service and Capital Projects
Funds.
Source: City of Moorpark
54
Fiscal
Year
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
S
CITY OF MOORPARK
ASSESSED VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Net Secured Net Unsecured
Roll Roll
1,301,568.464
1,497,088,093
1,590,604,539
1,674,603,922
1,673,307,475
1,732,877,452
1,784,220,963
1,848,655,764
1,920,177,164
2,035,487,530
2,149,505,500
Source: Ventura County Assessor
S
50,266,437
53,118,248
56,025,905
57,669,820
57,005,483
56,810,214
63,819,253
68,944,812
70,911,851
85,464,519
84,834,286
55
Total
Net Assessed
Roll
$ 1,351,834,901
1,550,206,341
1,646,630,444
1,732.273,742
1,730,312,958
1,789,687,666
1,848,040,216
1,917,600,576
1,991,089,015
2,120,952,049
2,234,339,786
Percent Homeowner's
Change Exemptions
18.0% $ 31,984,786
14.7%
6.2%
5.2%
-0.1%
3.4%
3.3%
3.8%
3.8%
10.6%
12.2%
32,781,724
33,355,481
33,507,656
33,943,139
36,000,192
37,421,267
38,289,239
39,313,581
40,240,720
40,687,060
CITY OF NIOORPARK
SECURED TAX CHARGE AND DELINQUENCIES
MOST RECENT FIVE YEAR HISTORY
Source: California Municipal Statistics, Inc.
56
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%
1999
1,374,741
25,687
1.9%
Source: California Municipal Statistics, Inc.
56
CITY OF MOORPARK
DIRECT AND OVERLAPPING BONDED DEBT
AS OF FISCAL YEAR 1999 -2000
1999 -2000 Assessed Valuation:
Redevelopment Incremental Valuation:
Adjusted Assessed Valuation:
$ 2,211,432,867
184,257,216
$ 2,027,175,651
Overlapping General Fund Obligation Debt:
Ventura County General Fund Obligations
Ventura County Pension Obligations
Ventura County Superintendent of Schools COPS
Ventura County Community College District COPS
Ventura County Library District Authority
Total Overlapping General Fund Obligation Debt
Combined Total Debt*
Ratios to 1999 -2000 Assessed Valuation:
Direct Debt
Total Direct and Overlapping Tax & Assessment Debt
Ratio to Adjusted Assessed Valuation
Combined Total Debt
State School Building Aid Repayable as of 6/30/00
4.236% $ 1,502,509
4.236% 5,328,888
4.236% 123,268
4.237% 585,130
91.108% 5,184,045
6.826% 40,956
$12,764,796
0.00%
0.51%
1.19%
$24,082,222
* Excludes tax and revenue anticipation notes, revenue, mortgage revenue and tax allocation bonds and
non - bonded capital lease obligations.
Source: California ;Municipal Statistics. [nc.
57
Percent
Debt
Direct and Overlapping Tax and Assessment Debt:
Applicable
as 6/30/00
Ventura County Flood Control District Zone No. 3
8.012%
$ 120,981
Metropolitan Water District
0.222%
1,220,145
Ventura County Waterworks District No. 1
100.000%
125,000
Conejo Valley Unified School District
0.021%
6,300
City of Moorpark Commujity Facilities District No. 97 -1
100.000%
7,525,000
City of Moorpark 1915 Act Bonds
100.000° 0
2,320,000
Total Direct and Overlapping Tax & Assessment Debt
$11,317,426
Overlapping General Fund Obligation Debt:
Ventura County General Fund Obligations
Ventura County Pension Obligations
Ventura County Superintendent of Schools COPS
Ventura County Community College District COPS
Ventura County Library District Authority
Total Overlapping General Fund Obligation Debt
Combined Total Debt*
Ratios to 1999 -2000 Assessed Valuation:
Direct Debt
Total Direct and Overlapping Tax & Assessment Debt
Ratio to Adjusted Assessed Valuation
Combined Total Debt
State School Building Aid Repayable as of 6/30/00
4.236% $ 1,502,509
4.236% 5,328,888
4.236% 123,268
4.237% 585,130
91.108% 5,184,045
6.826% 40,956
$12,764,796
0.00%
0.51%
1.19%
$24,082,222
* Excludes tax and revenue anticipation notes, revenue, mortgage revenue and tax allocation bonds and
non - bonded capital lease obligations.
Source: California ;Municipal Statistics. [nc.
57
CITY OF MOORPARK
COMPUTATION OF LEGAL DEBT .NIARGIN AND
BREAKDOWN OF GENERAL PROPERTY TAX LEVY
Legal Debt Margin as of June 30, 2000
Assessed Valuation:
Secured property assessed value: $ 2,149,505,500
Bonded Debt Limit (15% of Assessed Value)
$ 322,425,825
Amount of Debt Subject to Debt Limit
Total Bonded Debt $ 9,540,000
Less CRA Tax Allocation Bonds 9,540,000
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
5.50%
E.R.A.F 93 -94 Shift
8.77%
City of Moorpark
6.50%
Ventura Community College
5.80%
Ventura Co. Superintendent of Schools
2.60%
County Library
1.67%
County Flood Zone #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° o
Total
100.00°
Source: City of Moorpark, Ventura County Assessor and HdL Coren & Cone
M
CITY OF MOORPARK
CITY POPULATION
LAST TEN YEARS
Source: City of Moorpark. and State Department of Finance
59
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%
2000
29,727
0.4%
Source: City of Moorpark. and State Department of Finance
59
CITY OF MOORPARK
BUILDING PERMIT VALUATION
LAST TEN FISCAL YEARS
Source: City of Moorpark,
.1
Number
Number
Fiscal
Residential
of
Commercial
of
Total Permit
Year
Valuation
Permits
Valuation
Permits
Valuation
1990
S
13,700,590
450
S
11,503,595
106
$
25,204,185
1991
S
6,768,059
254
$
1,862,521
51
$
8,630,580
1992
$
26,464,476
282
S
3,350,958
45
$
29,815,434
1993
S
9,182,124
326
$
7,488,066
50
S
16,670.190
1994
S
26,189,940
250
S
11,374,256
55
$
37,564.196
1995
S
55,828,983
250
$
2,575,542
37
S
58,404,525
1996
S
45,807.776
443
$
6,869,232
65
$
52,677 008
1997
$
24,274,609
364
S
27,460,489
85
$
51,735,098
1998
$
6,331,779
258
$
18,950,107
131
$
25,281,886
1999
S
3,112,703
213
S
6,538,260
90
$
9,650,963
2000
S
45,298,666
386
S
9,786,014
59
S
55,084,680
Source: City of Moorpark,
.1
CITY OF MOORPARK
LARGEST PROPERTY OWNERS
PER ASSESSED VALUATION 1998
Property Owner
New L A Associates LLC
Security Capital Pacific Trust
Fred Kavii
American Stores
Western Pacific Housing
G -S Partnership
Kavilco Corporation
Lennar Moorpark LLC
Teledyne industries
Mission Bell Plaza Phase 1
Pac -Fab Inc.
Litton Industries
James Birkenshaw, Lessor, Et. Al.
Bundy - Olympic Development
Mail Marketing Corporation
Source: lid] Coren & Cone and Ventura County Assessor
61
Assessed
Value of
Property
35,806,655
30,441,446
23,092,786
20,252,700
17,717,000
17,561,058
17,496,100
16,649,163
15,910,000
14,520,212
14,334,800
12,434, 800
12,041,010
11,331,096
10,318,700
CITY OF MOORPARK
MISCELLANEOUS STATISTICS
Year of Incorporation:
1983
Form of Government:
Council - Manager
General Law City
Most Recent Population Estimate:
29,727
Registered Voters:
15,243
City Employees:
75
Fire Protection:
Number of Stations:
2
Number of Firefighters:
9
Police Protection:
Number of Stations:
1
Number of Police Officers:
23
Number of Support Personnel:
2
62
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 1
Community Centers 2
Senior Centers 1
Gym I
Activity Rooms for Rentals 4
Ur , re. 1.
Vavrinek, Trine, Day & Co., LLP
Certified Pub! c Accountants 8 Consultants
November 21, 2000
Honorable Members of the City Council
City of Moorpark
Moorpark, California
We have audited the financial statements of the City of Moorpark (the City) for the year ended June 30, 2000, and
have issued our report dated November 21, 2000. In planning and performing our audit of the financial statement
of the City, we considered its internal control structure in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control
structure. We have not considered the internal control structure since the date of our report.
During our audit we noted certain matters involving the internal control structure and other operational and
accounting matters that are presented for your consideration. These comments and recommendations are intended
to improve the internal control structure or result in other operational efficiencies and are summarized below.
CURRENT YEAR FINDINGS AND RECOMMENDATIONS
Cash and Investments
Findt=
The City did not submit the .tune 30, 2000 Treasurers report to the City Council for approval within a timely
manner. It appears that as of November this report had not been taken to Council for approval. In addition we
noted that the quarterly Treasurers report did not contain all of the required elements for the City's investments.
Recommendation:
The City should review the procedures for the preparation of the Treasurers report to ensure timely reporting to
the City Council. The report should also be reviewed to ensure that all appropriate disclosures are made in
accordance with State statute.
City Response:
Due to the departure of the Assistant City Manager in January 2000 and a vacancy in the Finance Manager
position, the quarterly treasurer reports have not been prepared in a timely manner. We concur with this finding
and are currently taking steps to bring these reports current.
8270 Aspen Street Rancho Cucamonga, CA 91730 Tel 909 466 4410 Fax: 909 466 4431 ranchinfoOvidcpa com www.vtdcpa com
FRESNO LAGUNA HILLS PLEASANTON RANCHO CUCAMONGA SACRAMENTO SAN JOSE
CITY OF NIOORPARI{
Management Letter
Page 2
CURRENT YEAR FINDINGS AND RECOMMENDATIONS (Continued)
Finding:
The City was behind in the monthly bank reconciliations for two of the City's bank accounts. We noted that the
City's general checking account had not been reconciled from June of 1999 through our interim fieldwork dates
of April 2000. In addition, the City's disbursement account had not been reconciled from January 2000 through
April 2000.
Recommendation:
The monthly reconciliation of the bank statements is an important aspect of the City's internal control structure.
We suggest that the City develop policies to ensure that each City bank account is reconciled on a monthly basis.
Ci!y Response:
On July 1, 1999, the city implemented a new financial management system. While this new financial
management software provided many new and valuable tools for the department, it has provided challenges in
some areas, including cash transaction reports. As a result, the reconciliation of bank statements fell behind. In
early 2000, the city contracted with an accountant to bring these statements current. By August of 2000, all the
city bank accounts had been reconciled through June 30, 2000. We have created custom reports and written
procedures and are working toward a goal of reconciliation of all bank accounts within 30 days of the receipt of
the bank statements.
Disbursements/Purchasing
Finding:
The City's purchasing ordinance requires that purchase orders be used for all purchases made by the City. We
noted that the actual purchasing system in use does not require that purchase orders be obtained for every
purchase. Warrant requests, and other forms of approval are used to document approval for reoccurring types of
expenditures.
Recommendation:
The City should review its purchasing policies and the purchasing ordinance to ensure that the actual system in
use agrees to the level of control defined by the purchasing ordinance.
City Response
The city's purchasing ordinance, unfortunately, has not been updated since 1983 and many of it's provisions are
not in keeping with modern purchasing practices nor current city practices. We agree that the purchasing
ordinance needs updating and plan to make the necessary changes as soon as possible.
CITY OF MOORPARK
Management Letter
Page 3
STATUS OF PRIOR YEAR FINDINGS
Cash and Investments
Finding:
The City's monthly treasurer's report does not contain a statement that all of the investments presented within the
report comply with the City's investment policy. In addition the report does not include a statement that the City
has adequate funds to cover the next six month's expenditures. We also noted that the reports do not include the
cash held with fiscal agent.
Recommendation:
The City should review the applicable government code that pertains to investment reporting to ensure that all
applicable sections are met. The above noted areas should be addressed and the report modified to meet all
applicable provisions of the code. The code requires that the reports contain the above noted elements.
Status:
Not Implemented.
City Response:
As noted in comments to an earlier finding, we acknowledge that the quarterly treasurer's reports have not been
prepared promptly. Future reports will comply with the applicable code sections.
Loans between the City and the Redevelopment Agency
Finding:
We noted that the interest charged to the Redevelopment Agency for the loan from the General Fund is based
upon the budget document not the actual interest that is accrued based upon the balance of the outstanding loan.
Recommendation:
We suggest that interest charges be based upon the actual amount outstanding, not upon the budget.
Status:
Not Implemented.
CITY OF MOORPARK
Management Letter
Page 4
STATUS OF PRIOR YEAR FINDINGS (Continued)
City Response:
Since the time of the Auditor's review, staff has spent considerable time researching various issues related to the
interest charged on the loans from the City of Moorpark to the Moorpark Redevelopment Agency. In fact, the
amount of interest paid by the Redevelopment Agency annually did equal the budgeted amount, but it may not
have always been equal to the amount required at the established interest rate. With further analysis, we will be
able to determine the exact amounts due, amounts paid, and whether adjustments are needed. This analysis is in
process and will be completed as soon as possible.
Fixed Assets
Finding:
The City has not maintained the documentation to support the General Fixed Assets Account Group in a manner
that will allow us to express an opinion on this account group. Although it appears that the City is tracking
current additions, it does not have a detailed listing to support the totals as reported in the prior year's audit. It
also appears that the City is not consistently applying the capitalization policies for current additions.
Recommendation:
We suggest that the City devote the necessary time to conduct a complete inventory of all fixed assets owned by
the City, and review all applicable policies. This will enable the City to have a listing of all City owned assets.
This will also assist the City in preparing for the new reporting model that has recently been adopted by the
Governmental Accounting Standards Board (GASB). GASB has recently adopted statement 34 that will require
significant changes to the current reporting model, one of the most significant changes will be the requirement
that each governmental agency book and track all fixed assets within the fund structure of the entity. This will
include depreciation. By beginning to track the fixed assets now the City will have a head start on the
implementation of the new reporting model.
Status:
In Process.
City Response:
As noted above, we are in process of implementing the previous recommendations. In April 2000, a complete
inventory of all fixed assets was completed. The data compiled from this audit will be loaded into a new fixed
asset management system for implementation with the 2001 /2002 fiscal year and will provide an accurate basis
for future depreciation and capitalization values.
CITY OF MOOR-PARK
Management Letter
Page 5
STATUS OF PRIOR YEAR FINDINGS (Continued)
Development Impact Fees
Finding:
It appears that the City is collecting fees that are subject to AB 1600 reporting requirements. When development
impact fees are collected that are subject to the provisions of AB 1600 several reporting requirements must be
performed. These include preparing an annual report to Council showing the beginning and ending balance of
each fee and the related receipts /expenditures/refunds for each fee. This annual report must be presented to
Council within 180 days of the close of the fiscal year. Several other requirements must be met to justify the
collection of the fees.
Recommendation:
We suggest that the City review the fees that are currently collected and determine if they are subject to the
requirements of the provisions of AB 1600. If it is determined that the fees are subject to the reporting
requirements the City should begin to develop the reporting structure that will be necessary to meet all of the
applicable requirements.
Status:
Implemented.
Personnel
Findin :
During our testing of the personnel /payroll internal control systems we noted that the final review of pay rate
changes is performed by an employee who also has access, and the ability, to change the pay rate information in
the computer system.
Recommendation:
We suggest that there be a separation of duties relating to the final review of pay rate changes. An employee
separate of the payroll and input function should be reviewing the information to ensure that proper changes were
made. This employee should not have the ability to input changes into the payroll system.
CITY OF MOORPARK
Management Letter
Page b
STATUS OF PRIOR YEAR FINDINGS (Continued)
Status:
Not Implemented.
City Response:
With only two staff members involved in the payroll process, it is very difficult to separate duties sufficiently to
satisfy this recommendation. If only one of those employees had the ability to enter and change payroll
information, and the other only had the ability to run payroll, difficulties would occur when one was absent or
unable to enter necessary information. However, we agree that internal control over payroll changes is important
and have made a change to our procedures in response to this finding. Effective immediately, every payroll cycle
the Accounting Manager will review a "Payroll Activity Report" which provides an audit trail of all changes
made in the payroll system. This way, if unusual or questionable changes are found, they can be resolved
immediately.
City Council Minutes
Finding:
During our fieldwork we noted that the City Council minutes were not up to date. The minutes were several
months behind.
Recommendation:
As these minutes are the official records of the City, every effort should be made to ensure that all
minutes are up to date and properly filed.
Status:
Implemented.
CITY OF MOORPARK
Management Letter
Page 7
STATUS OF PRIOR YEAR FINDINGS (Continued
Electronic Data Processing
Finding:
Although the City performs back -up procedures on a periodic basis, the City does not have a formal written policy
that covers the frequency of back -up procedures, nor offsite storage of back -up tapes.
Recommendation:
We suggest that the City review all policies and procedures relating to the use and back -up procedures relating to
City owned computers. These polices should include the frequency of back -up, offsite storage of back -up
documents, and a file saving policy to ensure that all files are part of the back -up system.
Status:
Not Implemented. The City does not have a written policy.
City Response:
As noted in the finding, the city does routinely and consistently conduct back ups on all information systems.
However, we agree with the finding that written procedures should be created. The city is currently in the process
of filling a new position dedicated to information system management for the city and the development of written
policies and procedures, including this item, will be a priority for the new employee.
Disbursements/Purchasing
Finding:
The City's purchasing ordinance requires that purchase orders be used for all purchases made by the City. We
noted that the actual purchasing system in use does not require that purchase orders be obtained for every
purchase. Warrant requests, and other forms of approval are used to document approval for reoccurring types of
expenditures.
Recommendation:
The City should review its purchasing policies and the purchasing ordinance to ensure that the actual system in
use agrees to the level of control defined by the purchasing ordinance.
CITY OF MOORPARK
Management Letter
Page 8
STATUS OF PRIOR YEAR FINDINGS (Continued)
Status:
Not Implemented.
City Response:
See current year finding.
Cash Receipting
Finding:
Based upon our testing it appears that the sequential order of receipts is not maintained when the bank deposits
are prepared. Due to receipts being either used, or deposits prepared with receipts out of sequence it is difficult to
determine that all receipts have been properly deposited.
Recommendation:
The City should develop a system to ensure that all receipt numbers are accounted for through the deposit process.
Status:
Implemented.
Allowance For Doubtful Accounts
Finding:
The City has recorded a general allowance for uncollectible receivables. However, we noted that the City does
not have a formal policy in place for establishing and monitoring its allowance for uncollectible receivables on a
regular basis (i.e. monthly or quarterly). We further noted that the aging of individual receivable balances
continues to be performed manually
In 1996, the City purchased a specialized software package to enable the City's personnel to produce detail
accounts receivable reports on a regular basis. As this package has proved to be cumbersome and somewhat
difficult to use and maintain, it has not been utilized for this purpose. The City is currently in the process of
implementing a new general ledger software package (Pentamation), which should have the capability of tracking
general accounts receivable, as well as all other types of receivables, and producing detail accounts receivable
reports on a regular basis
CITY OF MOOR-PARK
Management Letter
Page 9
STATUS OF PRIOR YEAR FINDINGS (Continued)
Recommendation:
Upon implementation of the new software, the City should strive to bring all accounts receivable on -line in an
expedient fashion so that formal procedures may be implemented to analyze the system's accounts receivable
aging reports on a regular basis. In addition, past due accounts should be considered for follow -up and the related
receivables reviewed for collectibility. These procedures would assist management in identifying collectibility
issues, help ensure that the allowance for doubtful accounts is adequate, and may also accelerate the cash
collections process.
Status:
Implemented.
Accounting Policies and Procedures Manual
Finding:
Although the City has used a variety of publications for guidance on handling of specific accounting or
operational issues as well as guidance provided in the Moorpark Operating Procedures Manual, the City currently
does not have a City -wide comprehensive accounting policies and procedures manual. We recommend that such
a comprehensive accounting manual be prepared in order to document and communicate control objectives and
the appropriate methodology for the processing of transactions for all recurring accounting and financial
transactions. While most current employees are familiar with the established accounting procedures, a
comprehensive manual would serve to supplement their knowledge and would be especially useful during periods
of transition.
Recommendation:
We understand that completion of such a manual has been delayed due to the anticipated conversion to new
accounting software during fiscal year 1999. In preparing such a manual, we recommend that the City address the
following items, among others, some of which already exist as standard operating procedures:
• A current detailed chart of accounts, including adequate explanation of the purpose and content of each
account and the individuals assigned control over each account;
• A description of all the funds of the City, including type (i.e. Special Revenue, Capital Projects, etc.) and
purpose of each fund;
CITY OF MOORPARK
Management Letter
Page 10
STATUS OF PRIOR YEAR FINDINGS (Continued)
• Documentary flowcharts of significant accounting systems, including their interrelationship, where
applicable, with other departments within the City;
• Reports used on a recurring basis, frequency of the report, content and purpose;
• A list of standard forms and journal vouchers with detailed explanations of their purpose and preparation;
• Appropriate descriptions of all financial policies and recurring accounting procedures and routines, which
should include but are not necessarily limited to the following:
• Monthly review of internally generated reports, which may vary in complexity from a simple scan of
transactions to detailed analysis or reconciliation work;
• Policies related to cash which would include preparation of bank reconciliations, controls over cash
disbursements and cash receipts, and procedures regarding the investment of excess cash on hand;
• Purchase and capitalization of fixed assets and related procedures for computation of depreciation thereon;
• Doubtful accounts and related bad debt write -offs;
• Lease obligations and related capitalization policies;
• Authorization for incurring professional services.
• Policies related to the recognition of revenues and expenses with particular attention paid to year -end cut-
off procedures; and
• The assignment of accounting responsibilities and expenditure approval procedures.
• Policies and procedures related to personnel with accounting and control responsibilities:
• Job descriptions
• Formal training programs for various job positions
• Methodology for monitoring completion of duties and performance evaluations
• Adequate policies to provide for competent replacements for individuals with control responsibilities.
CITY OF IYtOORPARK
Management Letter
Page 11
STATUS OF PRIOR YEAR FINDINGS (Continued)
Such an accounting manual should be updated periodically and distributed to all accounting personnel and key
operations personnel. This manual should evolve to meet the needs of the City and provide an accurate reflection
of the current accounting system. All changes in the manual should be subject written approval by City
management.
The Development of this document will have numerous benefits, including the promotion of control
consciousness, definition of responsibilities, increased communication between individuals and departments,
utilization of consistent and appropriate accounting practices and compliance with accounting requirements. In
addition, preparing such a manual may reveal redundancies and inefficiencies in the current accounting system. A
well developed accounting policies and procedures manual serves as a ready reference for employees and
provides a sound base to continually monitor and assess the City's internal operations.
Status:
Not Implemented.
City Response:
We are in complete agreement that written policies and procedures covering a broad range of finance and
purchasing processes is essential. Development of such a comprehensive manual takes time and will be a "work
in process" for many years. Since this original finding in 1999, a procedure for budget transfers has been
approved and implemented, procedures for telephone use and travel expense reimbursement have been written
and are under review, and procedures for bank account reconciliation and warrant processing are being dratted.
Others will be developed as staff time permits.
We will review the status of these comments during our next audit engagement. We have already discussed these
comments and suggestions with City personnel, and we will be pleased to discuss them in further detail at your
convenience, to perform any additional study of these matters, or to assist you in implementing the
recommendations.
Vavrinek, Trine, Day & Co., LLP
Rancho Cucamonga, California
CITY OF MOORPARK
SINGLE AUDIT REPORTS
FOR THE YEAR ENDED
JUNE 309 2000
CITY OF MOORPARK, CALIFORNIA
SINGLE AUDIT REPORT
JUNE 30, 2000
TABLE OF CONTENTS
PAGE
Independent Auditors' Report On Compliance With Requirements Applicable To Each Major
Program And Internal Control Over Compliance In Accordance With United States Office Of
Management And Budget Circular A -133
Independent .Auditors' Report On Compliance And On Internal Control Over Financial Reporting
Based On An Audit Of General Purpose Financial Statements Performed In Accordance With
Governmental Auditing Standards
Schedule of Expenditures of Federal Awards For the Year Ended June 30, 2000
Notes to Schedule of Expenditures of Federal Awards for the Year Ended June 30, 2000 6
Summary of Auditors Results
Financial Statement Findings and Recommendations
Federal Award Findings and Questioned Cost
Status of Prior Year Findings and Reconunendations 10
urr Vavrinek, Trine, Day & Co., LLP
401,
Certified Public Accountants & Consultants
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO
EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH
UNITED STATES OFFICE OF MANAGEMENT AND BUDGET CIRCULAR A -133
The Honorable Mayor and Members of the City Council
City of Moorpark, California
Compliance
We have audited the compliance of the City of Moorpark, California with the types of compliance requirements
described in the U.S. Office of Management and Budget (OMB) Circular A -133 Compliance Supplement that are
applicable to each of its major Federal programs for the year ended June 30, 2000. The City of Moorpark,
California's major Federal programs are identified in the Schedule of Expenditures of Federal Awards.
Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major
Federal programs is the responsibility of the City of Moorpark, California's management. Our responsibility is to
express an opinion on the City of Moorpark, California's compliance based on our audit.
We conducted our audit of compliance in accordance with generally accepted auditing standards; the standards
applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of
the United States; and OMB Circular A -133, Audits of States, Local Governments, and Non - Profit Organizations.
Those standards and OMB Circular A -133 require that we plan and perform the audit to obtain reasonable
assurance about whether noncompliance with the types of compliance requirements referred to above that could
have a direct and material effect on a major Federal program occurred. An audit includes examining, on a test
basis, evidence about the City of Moorpark, California's compliance with those requirements and performing
such other procedures, as we considered necessary in the circumstances. We believe that our audit provides a
reasonable basis for our opinion. Our audit does not provide a legal determination on the City of Moorpark,
California's compliance with those requirements.
In our opinion, the City of Moorpark, California complied, in all material respects, with the requirements referred
to above that are applicable to each of its major Federal programs for the year ended June 30, 2000.
Internal Control over Compliance
The management of the City of Moorpark, California is responsible for establishing and maintaining effective
internal control over compliance with requirements of laws, regulations, contracts and grants applicable to Federal
programs. In planning and performing our audit, we considered the City of Moorpark, California's internal
control over compliance with requirements that could have a direct and material effect on a major Federal
program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance
and to test and report on internal control over compliance in accordance with ONIB Circular A -133.
8270 Aspen Street Rancho Cucamonga, CA 91730 Tel: 909 466 4410 Fax 909.466 4431 wviw v[dcpa com
FRESNO • LAGUNA HILLS • PLEASANTON • RANCHO CUCAMONGA • SACRAMENTO • SAN JOSE
Our consideration of the internal control over compliance would not necessarily disclose all matters in the internal
control that might be material weaknesses. A material weakness is a condition in which the design or operation of
one or more of the internal control components does not reduce to a relatively low level the risk that
noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in
relation to a major Federal program being audited may occur and not be detected within a timely period by
employees in the normal course of performing their assigned functions. We noted no matters involving the
internal control over compliance and its operation that we consider to be material weaknesses.
Schedule of Expenditures of Federal Awards
We have audited the general - purpose financial statements of the City of Moorpark, California as of and for the
year ended June 30, 2000 and have issued our report thereon, dated November 21, 2000. Our audit was
performed for the purpose of forming an opinion on the general- purpose financial statements of the City of
Moorpark, California taken as a whole. The accompanying Schedule of Expenditures of Federal Awards is
presented for purposes of additional analysis as required by OMB Circular A -133 and is not a required part of the
general- purpose financial statements. Such information has been subjected to the auditing procedures applied in
the audit of the general purpose financial statements and, in our opinion, is fairly stated, in all material respects, in
relation to the general purpose financial statements taken as a whole.
This report is intended for the information of the Mayor and City Council, the City's management, Federal
granting agencies and the Controller of the State of California. However, this report is a matter of public record
and its distribution is not limited.
Rancho Cucamonga, CA.
November 21, 2000
Ur res I el Vavrinek, Trine, Day & Co., LLP
Certified Public Accountants & Consultants
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER
FINANCIAL REPORTING BASED ON AN AUDIT OF GENERAL PURPOSE FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENTAL AUDITING STANDARDS
The Honorable Mayor and Members of the City Council
City of Moorpark, California:
We have audited the general - purpose financial statements of the City of Moorpark, California as of and for the
year ended June 30, 2000 and have issued our report thereon, dated November 21, 2000. We conducted our audit
in accordance with generally accepted auditing standards and the standards applicable to financial audits
contained in Government Auditing Standards issued by the Comptroller General of the United States.
Compliance
As part of obtaining reasonable assurance about whether the City of Moorpark. California's general purpose
financial statements are free of material misstatement, we performed tests of its compliance with certain
provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material
effect on the determination of general purpose financial statement amounts. However, providing an opinion on
compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an
opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under
Government Auditing Standards.
Internal Control
In planning and performing our audit, we considered the City of Moorpark, California's internal control over
financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the
general - purpose financial statements and not to provide assurance on the internal control over financial reporting.
Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the
internal control over financial reporting that might be material weaknesses. A material weakness is a condition in
which the design or operation of one or more of the internal control components does not reduce to a relatively
low level the risk that misstatements in amounts that would be material in relation to the general purpose financial
statements being audited may occur and not be detected within a timely period by employees in the normal course
of performing their assigned functions. We noted no matters involving the internal control over financial
reporting and its operation that we consider to be material weaknesses. However, we noted other matters
involving the internal control over financial reporting that we have reported to management of the City of
Moorpark, California in a separate letter dated November 21, 2000.
8270 Aspen Street Rancho Cucamonga. CA 91730 Tel: 909.466.4410 Fax 909 466.4431 v:nv, vtdcoa corn
FRESNO • LAGUNA HILLS • PLEASANTON • RANCHO CUCAMONGA • SACRAMENTO SAN JOSE
This report is intended for the information of the Mayor and City Council, the City's management, Federal
granting agencies and the Controller of the State of California. However, this report is a matter of public record
and its distribution is not limited.
Rancho Cucamonga, CA.
November 21, 2000
Utz iT" , ' c4a j L G P
4
CITY OF MOORPARK
SCHEDULE OF EXPENDITURES OF FEDERAL, AWARDS
JUNE 30, 2000
Program Title:
U.S. Department of Transportation
Highway Planning & Construction (1)
U.S. Department of Housing and Urban Development
Pass - through from theVentura County
Community Development Commision
Community Development Block Grant (1)
Community Development Block Grant (1)
Community Development Block Grant (1)
Community Development Block Grant (1)
Community Development Block Grant (1)
Total Department of Housing and Urban Development
U.S. Department of Health and Human Services
Pass - through from the Ventura
County Agency on Aging
Special Programs for the Aging - Title III Part B
Grants for Supportive Services and Senior Centers
Total Federal Expenditures
(1) Major Program
5
Pass - through
Federal Grantor's
CFDA # ;Number
Expenditures
20.205 DBMAL -5436 (004) 633,999
14.218
B- 95- UC -06- 0507 -J3
63,444
14.218
B- 96- UC -06- 0507 -J4
161,895
14.218
B- 97- L'C -06- 0507 -J5
150,634
14.218
B- 98- UC -06- 0507 -J6
63,557
14.218
B- 99- UC -06- 0507 -J 7
46.367
485.897
93.044 3B- 0247 - 07971282
22.385
5 1,142.281
CITY OF MOORPARK
VOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
JUNE 30, 2000
NOTE #1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. General
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards
programs of the City of Moorpark, California (City). The City's reporting entity is defined in Note #1 of the
City's general - purpose financial statements. All federal awards received directly from federal agencies, as
well as federal awards passed through other governmental agencies to the City are included in the
accompanying schedule.
B. Basis of Accounting
The accompanying Schedule of Expenditures of Federal Awards is presented using the modified - accrual basis
of accounting, which is described in Note #1 of the City's general - purpose financial statements.
C. Relationship to General Purpose Financial Statements
Federal awards revenues are generally reported within the City's general - purpose financial statements under
the financial statement caption "Subventions and Grants" for the General and Special Revenue Funds.
D. Relationship to Federal Financial Reports
Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with the amounts
reported in the related federal financial reports. However, certain federal financial reports are filed based on
cash expenditures. As such, certain timing differences may exist in the recognition of revenues and
expenditures between the Schedule of Expenditures of Federal Awards and the federal financial reports.
CITY OF MOORPARK
SUMMARY OF AUDITORS RESULTS
JUNE 30, 2000
FINANCIAL STATEMENTS
Type of auditors' report issued: Qualified
Internal control over financial reporting:
Material weakness(es) identified? No
Reporting condition(s) identified not considered to be material weaknesses? Yes
Noncompliance material to financial statements noted? No
FEDERAL AWARDS
Internal control over major programs:
Material weakness(es) identified? No
Reporting condition(s) identified not considered to be material weaknesses? No
Type of auditors' report issued on compliance for major programs: Unqualified
Any audit findings disclosed that are required to be reported in accordance with
Circular A -133, Section .510(a) No
Identification of major programs:
CFDA Number(s)
20.005
14.218
Name of Federal Program or Cluster
U. S. Dept. of Transportation - Highway
and Bridge Replacement
U.S. Dept. of Housing and Urban Development
- Community Development Block Grant
Dollar threshold used to distinguish between Type A and Type B programs:
Auditee qualified as low -risk auditee?
h
S 300,000
No
CITY OF MOORPARK
FINANCIAL STATEMENTS FINDINGS AND RECOMMENDATIONS
JUNE 30, 2000
See separately issued Management Letter.
CITY OF MOORPARK
FEDERAL AWARD FINDINGS AND QUESTIONED COSTS
JUNE 30, 2000
There were no findings representing reportable conditions, material weaknesses, and instances of noncompliance
including questioned cost that are required to be reported by OMB Circular A -133.
0
CITY OF MOORPARK
STATUS OF PRIOR YEAR FINDINGS AND RECOMMENDATIONS
JUNE 30, 2000
There were no prior year findings, instances of non - compliance or questioned cost.
lv