HomeMy WebLinkAboutACFR 2018C OMPREHENSIVE A NNUAL F INANCIAL R EPORT
F ISCAL Y EAR E NDING
J UNE 30, 2018
CITY OF MOORPARK, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
JUNE 30, 2018
Prepared by:
Ron Ahlers, Finance Director
Irmina Lumbad, Deputy Finance Director
Hiromi Dever, Senior Account Technician
Liz Mesa, Account Technician II
Daisy Amezcua, Account Technician I
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CITY OF MOORPARK, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2018
TABLE OF CONTENTS
Page
Number
INTRODUCTORY SECTION
Letter of Transmittal .............................................................................................................................. i
City Officials ....................................................................................................................................... vii
Organization Chart ............................................................................................................................ viii
Certificate of Achievement for Excellence in Financial Reporting ...................................................... ix
FINANCIAL SECTION
INDEPENDENT AUDITORS’ REPORT .............................................................................................. 1
MANAGEMENT'S DISCUSSION AND ANALYSIS ............................................................................ 4
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements:
Statement of Net Position .................................................................................................... 16
Statement of Activities .......................................................................................................... 17
Fund Financial Statements:
Balance Sheet - Governmental Funds ................................................................................. 18
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Position .......................................................................................... 21
Statement of Revenues, Expenditures and Changes in Fund
Balances - Governmental Funds ......................................................................................... 22
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities .......................................................................................................... 25
Statement of Fiduciary Net Position - Fiduciary Funds ........................................................ 26
Statement of Changes in Fiduciary Net Position - Fiduciary Funds .................................... 27
Notes to Financial Statements .................................................................................................... 28
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CITY OF MOORPARK
JANICE S. PARVIN
Mayor
CHRIS ENEGREN
Councilmember
ROSEANN MIKOS, Ph.D.
Councilmember
DAVID POLLOCK
Councilmember
KEN SIMONS
Councilmember
FINANCE DEPARTMENT | 799 Moorpark Avenue, Moorpark, California 93021
Main City Phone Number (805) 517-6200 | Fax (805) 532-2545 | moorpark@moorparkca.gov
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vi
CITY OF MOORPARK
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Fiscal Year Ended June 30, 2018
DIRECTORY OF CITY OFFICIALS
As of June 30, 2018
CITY COUNCIL
Janice Parvin, Mayor
Roseann Mikos, Ph.D., Mayor Pro Tem David Pollock, Councilmember
Ken Simons, Councilmember Mark Van Dam, Councilmember
CITY MANAGEMENT STAFF
Troy Brown, City Manager
Deborah Traffenstedt, Assistant City Manager
David Bobardt, Community Development Director
Sean Corrigan, City Engineer/Public Works Director
Jeremy Laurentowski, Parks and Recreation Director
Ron Ahlers, Finance Director
vii
CITY OF MOORPARKORGANIZATION CHARTAdministrative ServicesDepartmentCommunity DevelopmentDepartmentParks, Recreation & Community ServicesDepartmentCity Engineer/ Public Works DepartmentFinanceDepartmentPlanningCommissionParks and RecreationCommissionArtsCommissionCity ManagerHonorable City CouncilPolice Services(Contract)City Attorney(Contract)• Art in Public Places• Parks and Landscape Maintenance• Recreation• Active Adult Center• Open Space Maintenance• Facility Operations and Maintenance• Property Management•Library• Housing Programs• Animal Control/Vector Control• Building and Safety• Code Compliance•Permits• Planning• Business Registration•City Clerk• Human Resources• Risk Management• Information Systems• Cable Television• Legislative Relations• Public Information• Intergovernmental Relations• Solid Waste & Recycling• Emergency Management• Economic Development• Cash Management• Central Services• Finance and Accounting• Fixed Assets Management• Purchasing• Franchise Administration• Budget Development & Administration• Successor Agency to the Redevelopment Agency• Assessment District• Street Lighting• Capital Projects• Crossing Guards•NPDES• Parking Enforcement• Street Maintenance• TransitLibraryBoard
viii
ix
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Management’s Responsibility for the Financial Statements
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Opinions
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WKH8QLWHG6WDWHVRI$PHULFD
203 N. Brea Blvd., Suite 203 Brea, CA 92821 Phone: 714.672.0022
An Association of
Independent Accounting Firms
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
Change in Accounting Principle
As discussed in Note 1 to the financial statements, in 2018 the City adopted new accounting guidance,
GASBS No. 75, Accounting and Financial Reporting for Post-Employment Benefits Other Than Pensions.
Our opinion is not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis; the budgetary comparison schedules for the General Fund, the Street and
Traffic Safety Fund, the Assessment Districts Fund, the Low-Mod Income Housing Asset Fund, and the
Endowment Fund; the schedule of proportionate share of the net pension liability; and the schedules of
plan contributions, and the schedule of changes in the net OPEB asset and related ratios be presented to
supplement the basic financial statements. Such information, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board, who considers it to be an
essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States
of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management’s responses to our inquiries, the basic
financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City’s basic financial statements. The introductory section, combining and individual
nonmajor fund statements and schedules, and statistical section are presented for purposes of additional
analysis and are not a required part of the basic financial statements.
The combining and individual nonmajor fund statements and schedules are the responsibility of
management and were derived from and relate directly to the underlying accounting and other records
used to prepare the basic financial statements. The information has been subjected to the auditing
procedures applied in the audit of the basic financial statements and certain additional procedures,
including comparing and reconciling such information directly to the underlying accounting and other
records used to prepare the basic financial statements or to the basic financial statements themselves,
and other additional procedures in accordance with auditing standards generally accepted in the
United States of America. In our opinion, the combining and individual nonmajor fund statements and
schedules are fairly stated in all material respects in relation to the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied in the
audit of the basic financial statements and, accordingly, we do not express an opinion or provide any
assurance on them.
2
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
December 19, 2018 on our consideration of the City’s internal control over financial reporting and on our
tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and
other matters. The purpose of that report is solely to describe the scope of our testing of internal control
over financial reporting and compliance and the results of that testing, and not to provide an opinion on
the effectiveness of the City’s internal control over financial reporting or on compliance. That report is an
integral part of an audit performed in accordance with Government Auditing Standards in considering
the City’s internal control over financial reporting and compliance.
Brea, California
December 19, 2018
3
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
As management of the City of Moorpark, California (City), we offer readers of the City’s
financial statements this narrative overview and analysis of the financial activities of the
City (the “Primary Government”) for the fiscal year ended (FYE) June 30, 2018. It is
encouraged that the readers consider the information presented here in conjunction with
the accompanying basic financial statements.
FINANCIAL HIGHLIGHTS
The assets and deferred outflows of resources of the City exceeded its liabilities
and deferred inflow of resources at the close of fiscal year (FY) 2017/18 by
$384,666,300 (Net Position). This amount is reflective of the entire City which
includes all funds. Of this amount, $55,570,929 is not restricted by external law
or administrative action for a specified purpose. The City Council’s approval is
required before these funds may be used to meet the City’s ongoing obligations
to citizens and creditors. GASB defines “Net Position” as assets and deferred
outflows of resources less liabilities and deferred inflows of resources. GASB
requires the City to record infrastructure assets (streets, parks, buildings, etc.)
less accumulated depreciation as a restricted fund balance titled, “Invested in
Capital Assets” ($262,137,083). Restrictions for Special Revenue Funds
($66,958,288), this reduces the Total Net Position to the Unrestricted Net
Position ($55,570,929).
Cash and Investments are $110,919,971 while Total Liabilities are $10,552,576;
therefore the City has Cash in excess of Total Liabilities of $100 million. In other
words, Cash is greater than ten times the amount of Total Liabilities.
The City has zero bonded indebtedness and no bank loans.
The City’s Total Net Position increased by $163,334 during the fiscal year.
As of June 30, 2018, the City’s governmental funds (General Fund, Special
Revenue Funds and Capital Projects Funds) reported combined ending fund
balances of $114,889,030, a decrease of $280,315 from the prior year.
The City made an extra contribution to CalPERS of $4 million in September 2017
to pay down the net pension liability. This effectively eliminated any unfunded
pension liability of the City.
At June 30, 2018, fund balances for the General Fund were $4,499,726 ($70,741
is in nonspendable form, $3,429,259 is committed to an emergency contingency
reserve and $999,726 is unassigned).
4
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
OVERVIEW OF THE BASIC FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City’s basic
financial statements. The City’s basic financial statements are comprised of three
components:
1) Government-wide financial statements
2) Fund financial statements
3) Notes to basic financial statements
Other required supplementary information is included in addition to the basic financial
statements.
Government-Wide Financial Statements. The City has presented its financial
statements under the reporting model required by Governmental Accounting Standards
Board Statement No. 34 (GASB 34) and its related Statements, GASB 37, 38, and 41.
These financial statements are designed to provide readers with a broad overview of
the City’s finances, in a manner similar to a private-sector business.
The government-wide financial statements include the statement of net position and the
statement of activities.
The governmental activities of the City include general government, public safety, public
services, parks and recreation, debt service, and interest on debt. The City does not
have any business-type activities.
The statement of net position presents information on all of the City’s assets and
liabilities, with the difference between the two reported as net position. Over time,
increases and decreases in net assets may serve as a useful indicator of whether the
financial position of the City is improving or deteriorating.
The statement of activities presents information showing how the City’s net position
changed during the most recent fiscal year. All changes in net position assets are
reported as soon as the underlying event giving rise to the change occurs, regardless of
the timing of related cash flows. Thus, revenues and expenditures are reported in this
statement for some items that will only result in cash flows in future fiscal periods
(i.e., uncollected taxes and earned but unused leave).
The government-wide financial statements include not only the City as the primary
government, but also a legally separate Moorpark Public Financing Authority (Authority),
and the Industrial Development Authority (IDA) of the City. Although legally separate
from the City, these component units are blended with the primary government because
of their governance or financial relationships to the City.
5
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
GASB 68 reporting for pensions was implemented four years ago and the figures are
recorded on the government-wide statements. The net pension liability is approximately
$4 million. In September 2017, the City paid down the liability by $4 million; posted in
the deferred outflows related to pensions. The City has zero pension liability.
GASB 75 reporting for other post-employment benefits (OPEB) was implemented in
FY 2017/18. The City does not have an OPEB liability. The City has an OPEB asset of
$333,403; reflecting we have overfunded the total OPEB liability by $333,403.
The Redevelopment Agency of the City of Moorpark (Agency) was dissolved on
February 1, 2012 as legislated in Assembly Bill x1 26. Its Successor Agency is shown
as a Private Purpose Trust Fund.
Fund Financial Statements. A fund is a grouping of related accounts that is used to
maintain control over resources that have been segregated for specific activities or
objectives. The City uses fund accounting to ensure and demonstrate compliance with
finance-related legal requirements. All of the funds of the City can be divided into two
categories: governmental funds and fiduciary funds.
Governmental Funds. Governmental Funds are used to account for essentially the
same functions reported as governmental activities in the government-wide financial
statements. However, unlike the government-wide financial statements, governmental
fund financial statements focus on near-term inflows and outflows of spendable
resources, as well as on balances of spendable resources available at the end of the
fiscal year. Such information may be useful in evaluating the City’s near-term financial
requirements.
Because the focus of governmental funds is narrower than that of the government-wide
financial statements, it is useful to compare the information presented for governmental
funds with similar information presented for governmental activities in the government-
wide financial statements. By doing so, readers may better understand the long-term
impact of the City’s near-term financing decisions. Both the governmental fund balance
sheet and the governmental fund statement of revenues, expenditures and changes in
fund balances, provide a reconciliation to facilitate this comparison between
governmental funds and governmental activities.
The City maintains a variety of individual governmental funds. Information is presented
separately in the governmental fund balance sheet and in the governmental fund
statement of revenues, expenditures, and changes in fund balances for the General
Fund, Street and Traffic Safety, Assessment Districts, Low and Moderate Income
Housing Asset, Endowment, City Affordable Housing and Special Projects. All of which
are considered to be major funds. Data from the remaining governmental funds are
combined into a single, aggregated presentation. Individual fund data for each of these
non-major governmental funds is provided in the form of combining statements in the
non-major governmental funds section of this report.
6
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
The City adopts an annual budget for all its funds. A budgetary comparison statement
is provided for all funds with an annually adopted budget to demonstrate compliance
with their respective budgets. The budgetary comparison statements are located in the
basic financial statements. The non-major governmental fund budgetary comparisons
are located in the non-major governmental funds section of the report.
Fiduciary Funds. Fiduciary funds, which consist solely of trust and agency funds, are
used to account for resources held for the benefit of parties outside the government.
Fiduciary funds are not reflected in the government-wide financial statements because
the resources of the fund are not available to support the City’s own programs.
Fiduciary funds are custodial in nature and, therefore, the accounting used does
not involve the measurement of the results of operations. The basic fiduciary fund
financial statement can be found on pages 26-27 of this report. The assets, liabilities,
fund equity and operations of the dissolved Agency were transferred to the
“Successor Agency Private Purpose Trust Fund”.
Notes to the Basic Financial Statements. The notes to the basic financial statements
provide additional information that is essential to a full understanding of the data
provided in the government-wide and fund financial statements. The notes to the basic
financial statements can be found on pages 28-70 of this report.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
The City’s financial statements use the reporting model required by GASB 34. A
comparative analysis of the government-wide data has been included in this report.
As noted earlier, net position may serve over time as a useful indicator of a
government’s financial position. In the case of the City, assets and deferred outflows of
resources exceeded liabilities and deferred inflows of resources by $385 million at the
close of the current fiscal year.
The City’s invested in capital assets reflects a positive $262 million. As shown on Table
1, the largest portion of the City’s net position (68%) is its investment in capital assets.
The City uses these capital assets (parks, streets, sidewalks, rights of way etc.) to
provide services to citizens; consequently, these assets are not available for future
spending.
The City has $67 million in restricted funds which represent resources that are subject
to external restrictions on how they may be used. The major restrictions on net position
are funding source restrictions. The remaining balance of total net position ($56 million)
is unrestricted and may be used to meet the City’s obligations to citizens and creditors
in accordance with the finance-related legal requirements reflected in the City’s fund
structure. At the end of the FYE June 30, 2018, the City reported positive balances in
all three categories of net position, both for the City as a whole, as well as for its
separate governmental activities.
7
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
2018 2017
Assets:
Current and other assets 127,221,385$ 126,443,937$
Net OPEB asset 333,403 -
Capital assets 262,137,083 265,474,327
Total Assets 389,691,871 391,918,264
Deferred Outflows:
Pension Related 7,373,111 3,037,579
Total Deferred Outflows 7,373,111 3,037,579
Liabilities:
Current liabilities 5,991,360 4,135,530
Net pension liability 3,959,121 2,973,847
Other liabilities 602,095 627,796
Total Liabilities 10,552,576 7,737,173
Deferred Inflows:
Pension Related 1,787,416 2,414,523
OPEB 58,690 -
Total Deferred Inflows 1,846,106 2,414,523
Net Position:
Investment in capital assets 262,137,083 265,474,327
Restricted 66,958,288 95,443,371
Unrestricted 55,570,929 23,886,449
Total Net Position 384,666,300$ 384,804,147$
Table 1
Net Position
Governmental Activities
As of June 30, 2018 and 2017
8
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
2018 2017
Revenues
Program Revenues:
Charges for services 9,314,485$ 13,894,579$
Operating contributions and grants 3,463,350 6,021,546
Capital contributions and grants 1,946,022 993,530
General Revenues:
Property taxes 9,545,738 9,332,969
Franchise fees 1,249,789 1,559,634
Sales taxes 4,291,309 3,854,408
Investment income 997,189 347,582
Other 401,083 215,621
Total Revenues 31,208,965 36,219,869
Expenses
General government 1,980,131 3,336,050
Public safety 10,870,950 9,302,239
Public services 4,771,248 9,513,380
Parks and recreation 8,845,066 6,791,321
Streets and Roads 4,556,851 274,954
Interest on long-term debt 21,385 23,347
Total Expenses 31,045,631 29,241,291
Increase in net position 163,334 6,978,578
Net position - July 1, as restated 384,502,966 377,825,569
Net position - June 30,384,666,300$ 384,804,147$
Table 2
Changes in Net Position
Governmental Activities
As of June 30, 2018 and 2017
The City’s net position increased by $163,334 during the current fiscal year. The
decrease in Public Services expenses from $9.5 million (2017) to $4.8 million (2018) is
due to one-time capital expenditures occurring in FY 2017. Specifically, the Arroyo
Vista Community Park Loop Trail for $2.4 million, Tierra Rejada Streetscape for
$400,000, and five land acquisitions which amounted to $1.4 million.
9
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
Charges for
Services,
63%
Operating
Contributions
and Grants,
24 %
Capital
Contributions
and Grants,
13 %
Program Revenues
Property
taxes
58%Franchise
taxes
8%
Sales taxes
26%
Investment
income
6%
Other
2%
General Revenues
10
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
FINANCIAL ANALYSIS OF THE CITY’S MAJOR FUNDS
As noted earlier, the City uses fund accounting to demonstrate compliance with finance-related
legal requirements.
Governmental Funds. The focus of the City’s governmental funds is to provide information on
near-term inflows, outflows, and net resources. Such information is useful in assessing the
City’s current financial requirements or its liquidity. GASB 54 requires fund balance
classifications that focus on the constraints on the use of resources and the source of the
constraints. The five (5) fund balance categories are:
Nonspendable – net resources that cannot be spent because of their form or those
resources that should be maintained intact
Restricted – amounts constrained to specific purpose by external providers, by law
through constitutional provisions or by enabling legislation
Committed – funds are limited to a specific purpose by government itself through
resolution
Assigned – resources intended for a specific purpose by the governing body or official
delegated by the governing body
Unassigned – represents the General Fund net residual fund balance available for any
purposes and other governmental funds in a deficit position.
As of FYE June 30, 2018, the City’s governmental funds reported total fund balances of
$114,889,030. This is a decrease of $280,315 in comparison with the prior year. $76,452 or
0.1% is nonspendable, $61,173,545 or 53.2% is restricted to specific purpose, $4,317,815 or
3.8% is committed, $49,480,362 or 43.1% is assigned and negative ($159,144) or negative
(0.1%) of the fund balances constitutes unassigned fund balance.
GENERAL FUND
The General Fund is the chief operating fund of the City. At the end of FY 2017/18, the total
fund balance of the General Fund was $4,499,726, which increased by $1,329,533 over prior
year. As a measure of the General Fund’s liquidity, it may be useful to compare total fund
balance to total fund expenditures. Total fund balance represents 21% of total General Fund
expenditures and transfers out. A 20% reserve is consistent with other cities as a matter of
standard practice. This represents approximately three months worth of operating
expenditures.
Revenues and expenditures differences between actuals and the final budget for FY 2017/18:
Actual revenues were higher by about 2% with the largest variance being Other
Property Taxes which is difficult to estimate since it is the County who calculates the
amount at the end of the year.
Actual expenditures were under budget by $2 million mainly due to salary savings from
vacant positions and capital projects not being completed but fully budgeted during the
year.
Transfers Out was under budget by 9% due to less transfer required to support the
Parks Assessment District than budgeted.
11
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
Key factors for revenues and expenditures when compared to FY 2016/17 are as follows:
The City’s secured property tax revenues increased by $200,528 or 5.7%.
Sales tax revenues increased by $436,902 or 11.3% as a result of the State changing
their distribution schedule due to a software upgrade. This year effectively includes an
extra month of revenue. This will not be repeated next year.
Interest earnings increased by $350,694 or 978% due to unrealized market value losses
in the prior fiscal year.
Expenditures and transfers out ended the year at $4,880,296 or 30% more than the
prior year figure. This current fiscal year the City made an extra contribution to
CalPERS in the amount of $4 million.
Street and Traffic Safety Fund (Includes the Traffic System Management Fund,
City-Wide Traffic Mitigation Fund and Crossing Guard Fund)
The fund balance of the Street and Traffic Safety Fund increased by $728,370 due to the
completion of the trail project at Arroyo Vista Community Park in the prior year.
Assessment District Fund
The fund balance of the Assessment District Fund decreased by $1.4 million from the prior
year. Major capital project expenditures in the districts this year are causing the decrease.
Low and Moderate Income Housing Asset Fund
The City elected to become the Successor Housing Agency and created the Low and
Moderate Income Housing Asset Fund for this purpose. There was little activity this past year.
Endowment Fund
The fund balance of the Endowment Fund increased by $383,935 due to minor expenditures
this past year.
Special Projects Capital Projects Fund
Per City Council Policy, the General Fund maintains a reserve of about $4.5 million; any funds
in excess of the $4.5 million are transferred to the Special Projects Fund. For FY 2017-18, the
General Fund transferred excess fund balance, $530,022, to the Special Projects Fund.
Additionally, the Special Projects Fund contributed $3.2 million to reduce the net pension
liability with CalPERS. The June 30, 2018 fund balance is about $25.1 million.
DDA Settlement Fund
Fund balance decreased by $11,485 during the current fiscal year.
Non-Major Governmental Funds
The fund balance of all other Non-Major Governmental Funds increased by $1,728,172 from
the previous fiscal year due to reduced capital outlay expenditures.
12
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
General Fund Budgetary Highlights
The City adopts annual appropriated operating budgets for its governmental funds
(General Fund, Special Revenue Funds, Debt Service Funds, and Capital Project Funds) and
reports the results of operation on a budget comparison basis.
In preparing its budgets, the City attempts to estimate its revenues using realistic, but
conservative, methods so as to budget its expenditure appropriations and activities in a
prudent manner. As a result, the City Council adopts budget adjustments during the course of
the fiscal year to reflect both changed priorities and availability of additional revenues to allow
for expansion of existing programs. During the course of the year, the City Council amended
the originally adopted budget to re-appropriate prior year approved projects and expenditures,
as well as approving many other adjustments for the current year.
The results of the General Fund for the year ended June 30, 2018, were revenues exceeding
expenditures by $1,681,029; out of which $530,022 was transferred to the Special Projects
Fund. Revenues plus Transfers In were $403,051 more than the final budget and expenditures
plus Transfers Out ended the year under budget (final) by $2.4 million. During the fiscal year,
the City Council appropriated an additional $3.2 million in the General Fund for paying down
the unfunded pension liability with CalPERS. The City has a history of not spending the entire
appropriation, this along with the additional appropriation created the under budget of $2.4
million noted above. The City usually has unexpected salary savings due to employees
retiring or leaving the organization during the year. Additionally, the City does not complete all
of its projects during the fiscal year which creates budgetary savings.
CAPITAL ASSETS
The City’s investment in capital assets as of June 30, 2018, amounted to $262 million
(net of accumulated depreciation). This investment, detailed in Table 3, includes land, rights of
way, construction in progress, buildings and improvements, machinery and equipment, and
infrastructure. The total decrease in the City’s investment in capital assets was $3.3 million.
13
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
2018 2017
Land 44,554,875$ 44,302,328$
Rights of Way 123,302,765 123,302,765
Construction in Progress 9,544,934 18,818,320
Buildings and improvements 30,811,431 25,258,537
Machinery and equipment 2,398,308 2,821,857
Infrastructure 51,524,770 50,970,520
Total 262,137,083$ 265,474,327$
Table 3
Capital Assets (net of depreciation)
Governmental Activities
As of June 30, 2018 and 2017
GASB 34 requires the City account for infrastructure assets on its financial statements. The
accompanying government-wide financial statements include those infrastructure assets that
were either completed during the current fiscal year or considered construction in progress at
current fiscal year-end.
Additional information on the City’s capital assets can be found in Note 6.
LONG-TERM LIABILITIES
As of June 30, 2018, the City’s long-term liabilities outstanding are $4,561,216, which are the
net pension liability ($3,959,121) and the employee compensated absences payable
($602,095). The City adheres to GASB 68, Accounting and Financial Reporting for Pensions.
In January 2015, the City contributed $3.6 million to pay down the net pension liability. An
additional $4 million contribution to pay down the net pension liability was made in September
2017; effectively reducing the net pension liability to zero. Additional information on the City’s
long-term liabilities can be found in Note 7. Note 8, Defined Benefit Pension Plan, discloses
the pension plan data according to GASB 68.
ECONOMIC FACTORS AND NEXT YEAR’S BUDGET
The slow economic recovery in conjunction with the rising costs of police services and utilities
and the ultra-low interest rate environment combined to cause strains in the City’s General
Fund. Certain costs continue to outpace the growth seen in major General Fund revenues
such as property and sales tax, including increases in pension costs, parks and landscape
maintenance and the Ventura County Sheriff’s contract. There is also an increasing need for
the General Fund to partially support services that in the past were self-supporting or required
a lower General Fund contribution such as: street lighting, landscaping, engineering and
planning services.
14
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2018
The City has protections from the State taking our monetary resources as a result of the
passage of Proposition 1A in November 2004 and Proposition 22 in November 2010.
However, on July 29, 2011, the Governor of the State of California signed Assembly Bills x1 26
(ABx1 26) and on December 29, 2011, the California Supreme Court issued their ruling
upholding the constitutionality of ABx1 26; thereby all redevelopment agencies within the
State of California were abolished, effective February 1, 2012. The City’s loss of its’
Redevelopment Agency eliminated about $1.5 million for local affordable housing and another
$700,000 in local funding of capital projects.
For FY 2018/19 budget, the City took into consideration the following factors:
Sales Tax revenues assume a minor increase from FY 2017/18
Property Tax and Vehicle License fees revenue are projected to increase slightly
Interest income will increase to an average rate of return of just over 2%.
Increase of 0.474% in CalPERS employer retirement rate from 8.418% to 8.892%,
effective July 1, 2018. This rate is projected to increase to 10.3% in FY 2020/21.
Increase in employee compensation from a general 2% cost of living adjustment and
increases in medical insurance premiums.
Projections indicate our cost for general liability and workers compensation insurance
will both slightly decrease for FY 2018/19 when compared to FY 2017/18 actual
payments.
A priority of the City is to maintain high quality of services while adopting a balanced budget.
As in prior years, the FY 2018/19 budget as adopted by the City Council is a balanced budget
and will serve as a guide in planning for the future.
REQUESTS FOR INFORMATION
This management’s discussion and analysis is designed to provide citizens, taxpayers,
customers, investors, and creditors with a general overview of the City’s finances and
to demonstrate the City’s accountability for the money it receives. If you have questions or
need additional financial information, please contact the Finance Department at City Hall,
799 Moorpark Avenue, Moorpark, CA 93021, or at www.MoorparkCA.gov.
15
CITY OF MOORPARK, CALIFORNIA
STATEMENT OF NET POSITION
JUNE 30, 2018
Governmental
Activities
Assets:
Cash and investments 110,919,971$
Receivables:
Accounts 1,905,276
Notes and loans 6,741,765
Accrued interest 684,425
Prepaid costs 76,452
Land held for resale 6,893,496
Net other post-employment benefits asset 333,403
Capital assets, not being depreciated 178,708,117
Capital assets, net of depreciation 83,428,966
Total Assets 389,691,871
Deferred Outflows of Resources:
Deferred outflows related to pensions 7,373,111
Total Deferred Outflows of Resources 7,373,111
Liabilities:
Accounts payable 3,402,873
Accrued liabilities 129,598
Unearned revenue 2,444,289
Deposits payable 14,600
Noncurrent liabilities:
Compensated absences, due within one year 363,513
Compensated absences, due in more than one year 238,582
Net pension liability 3,959,121
Total Liabilities 10,552,576
Deferred Inflows of Resources:
Deferred inflows related to pensions 1,787,416
Deferred inflows related to other post-employment benefits 58,690
Total Deferred Inflows of Resources 1,846,106
Net Position:
Investment in capital assets 262,137,083
Restricted:
Public services 40,307,582
Recreation services 9,492,231
Low and moderate income housing 17,158,475
Unrestricted 55,570,929
Total Net Position 384,666,300$
The notes to financial statements are an integral part of this statement.
16
CITY OF MOORPARK, CALIFORNIA
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2018
Net (Expenses)
Revenues and
Changes in Net
Position
Operating Capital
Charges for Contributions Contributions Governmental
Expenses Services and Grants and Grants Activities
Functions/Programs
Governmental Activities:
General government 1,980,131$ 1,144,176$ 642,211$ -$ (193,744)$
Public safety 10,870,950 954,599 -- (9,916,351)
Public services 4,771,248 2,292,214 2,821,139 1,938,073 2,280,178
Parks and recreation 8,845,066 3,908,952 -- (4,936,114)
Street and roads 4,556,851 1,014,544 - 7,949 (3,534,358)
Interest on long-term debt 21,385 - -- (21,385)
Total Governmental Activities 31,045,631$ 9,314,485$ 3,463,350$ 1,946,022$ (16,321,774)
General Revenues:
Taxes:
Property taxes, levied for general purpose 9,545,738
Sales taxes 4,291,309
Franchise taxes 1,249,789
Use of money and property 997,189
Other 401,083
Total General Revenues 16,485,108
Change in Net Position 163,334
Net Position at the Beginning of of the Year,
as Originally Reported 384,804,147
Restatement of Net Position (301,181)
Net Position at the Beginning of the Year,
as Restated 384,502,966
Net Position at the End of the Year 384,666,300$
Program Revenues
The notes to financial statements are an integral part of this statement.
17
CITY OF MOORPARK, CALIFORNIA
BALANCE SHEET
GOVERNMENTAL FUNDS
JUNE 30, 2018
General
Assets:
Cash and investments 4,687,080$ 22,161,425$ 4,856,789$ 144,969$
Receivables:
Accounts 1,236,256 46,131 48,507 286
Notes and loans - - - 5,233,968
Accrued interest - - - 437,358
Prepaid costs 70,741 - - -
Due from other funds 38,889 - - -
Land held for resale - - - 6,316,148
Total Assets 6,032,966$ 22,207,556$ 4,905,296$ 12,132,729$
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficits):
Liabilities:
Accounts payable 1,339,976$ 51,825$ 684,913$ 438$
Accrued liabilities 129,598 - - -
Unearned revenues - 102,100 - -
Deposits payable 600 - - 10,000
Due to other funds - - - -
Total Liabilities 1,470,174 153,925 684,913 10,438
Deferred Inflows of Resources:
Unavailable revenues 63,066 - - 4,468,601
Total Deferred Inflows of Resources 63,066 - - 4,468,601
Fund Balances (Deficits):
Nonspendable:
Prepaid costs 70,741 - - -
Restricted:
Public services - 22,053,631 4,220,383 -
Recreation services - - - -
Low and moderate income housing - - - 7,653,690
Committed:
Library services - - - -
Emergency contingency reserve 3,429,259 - - -
Assigned:
Capital projects - - - -
Unassigned 999,726 - - -
Total Fund Balances (Deficits)4,499,726 22,053,631 4,220,383 7,653,690
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficits)6,032,966$ 22,207,556$ 4,905,296$ 12,132,729$
Special Revenue Funds
Street And
Traffic Safety
Assessment
Districts
Low-Mod
Income Housing
Asset
The notes to financial statements are an integral part of this statement.
18
CITY OF MOORPARK, CALIFORNIA
BALANCE SHEET
GOVERNMENTAL FUNDS
JUNE 30, 2018
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Prepaid costs
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficits):
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances (Deficits):
Nonspendable:
Prepaid costs
Restricted:
Public services
Recreation services
Low and moderate income housing
Committed:
Library services
Emergency contingency reserve
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficits)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficits)
(CONTINUED)
Special
Revenue
Funds
Other Total
Governmental Governmental
Funds Funds
13,708,679$ 25,139,633$ 2,044,456$ 38,176,940$ 110,919,971$
24,111 - 4,059 545,926 1,905,276
- - - 1,507,797 6,741,765
- - - 247,067 684,425
- - - 5,711 76,452
1,109,796 - - 30,073 1,178,758
- - - 577,348 6,893,496
14,842,586$ 25,139,633$ 2,048,515$ 41,090,862$ 128,400,143$
42,083$ -$ -$ 1,283,638$ 3,402,873$
- - - - 129,598
- - 2,060,000 282,189 2,444,289
- - - 4,000 14,600
- - - 1,178,758 1,178,758
42,083 - 2,060,000 2,748,585 7,170,118
- - - 1,809,328 6,340,995
- - - 1,809,328 6,340,995
- - - 5,711 76,452
- - - 14,033,568 40,307,582
- - - 9,492,231 9,492,231
- - - 3,720,042 11,373,732
- - - 888,556 888,556
- - - - 3,429,259
14,800,503 25,139,633 - 9,540,226 49,480,362
- - (11,485) (1,147,385) (159,144)
14,800,503 25,139,633 (11,485) 36,532,949 114,889,030
14,842,586$ 25,139,633$ 2,048,515$ 41,090,862$ 128,400,143$
Capital Projects Funds
Endowment
Special
Projects
DDA
Settlement
The notes to financial statements are an integral part of this statement.
19
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20
CITY OF MOORPARK, CALIFORNIA
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET POSITION
JUNE 30, 2018
Amounts reported for governmental activities in the statement of net position are different because:
Total fund balances - governmental funds 114,889,030$
Capital assets used in governmental activities are not financial resources and,
therefore, are not reported in the funds.262,137,083
Compensated absences are not due and payable in the current period, and
therefore, are not reported in the funds.(602,095)
Governmental funds report all pension contributions as expenditures; however,
in the statement of activities, the excess/deficiency of the total pension liability
over/under the plan fiduciary net position is reported as a net pension (liability)/asset.(3,959,121)
Pension-related deferred outflows of resources that have not been included as
financial uses in the governmental fund activity are as follows:
Contributions made after the actuarial measurement date 4,819,439$
Changes in assumptions 1,385,059
Difference between expected and actual experiences 11,163
Net difference between projected and actual earnings on plan investments 313,243
Adjustments due to differences in proportions 162,588
Difference in proportionate share 681,619 7,373,111$
Pension-related deferred inflows of resources that have not been included as
financial resources in the governmental fund activity are as follows:
Changes in assumptions (105,612)
Difference between expected and actual experiences (159,930)
Adjustments due to differences in proportions (823,876)
Difference in proportionate share (697,998) (1,787,416)
Governmental funds report all other post-employment benefits contributions as
expenditures; however, in the statement of net position, the excess of the plan
fiduciary net position over the total other post-employment benefits liability is
reported as a net other post-employment benefits asset.333,403
Other post-employment-related deferred inflows of resources that have not been
included as financial resources in the governmental fund activity are as follows:
Net difference between projected and actual earnings on plan investments (58,690)
Revenues reported as unavailable revenue in the governmental funds are recognized
in the statement of activities.6,340,995
Net Position of Governmental Activities 384,666,300$
The notes to financial statements are an integral part of this statement.
21
CITY OF MOORPARK, CALIFORNIA
STATEMENT OF REVENUES,
EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2018
General
Revenues:
Taxes 14,123,673$ -$ -$ -$
Licenses and permits 139,663 - - -
Intergovernmental 63,390 - - -
Charges for services 1,599,580 1,011,131 - -
Use of money and property 880,307 109,980 16,211 20,215
Fines and forfeitures 254,464 - - -
Maintenance assessments - - 2,453,264 -
Miscellaneous 2,253,992 - 1,423 12,966
Total Revenues 19,315,069 1,121,111 2,470,898 33,181
Expenditures:
Current:
General government 5,180,063 - - 7,035
Public safety 7,666,823 66,278 11,434 -
Public services 1,121,308 272,460 353,690 29,967
Parks and recreation 3,079,440 - 4,602,698 -
Streets and roads 523,140 1,751 828,585 -
Capital outlay 63,266 52,252 8,971 -
Debt service:
Interest and fiscal charges - - - 21,385
Total Expenditures 17,634,040 392,741 5,805,378 58,387
Excess (Deficiency) of Revenues
Over (Under) Expenditures 1,681,029 728,370 (3,334,480) (25,206)
Other Financing Sources (Uses):
Transfers in 3,198,230 - 1,924,639 -
Transfers out (3,549,726) - - -
Total Other Financing Sources (Uses)(351,496) - 1,924,639 -
Net Changes in Fund Balances 1,329,533 728,370 (1,409,841) (25,206)
Fund Balances at the Beginning of the Year 3,170,193 21,325,261 5,630,224 7,678,896
Fund Balances (Deficits) at the End of the Year 4,499,726$ 22,053,631$ 4,220,383$ 7,653,690$
Special Revenue Funds
Street And
Traffic Safety
Assessment
Districts
Low-Mod
Income
Housing Asset
The notes to financial statements are an integral part of this statement.
22
CITY OF MOORPARK, CALIFORNIA
STATEMENT OF REVENUES,
EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2018
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Maintenance assessments
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Public services
Parks and recreation
Streets and roads
Capital outlay
Debt service:
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Changes in Fund Balances
Fund Balances at the Beginning of the Year
Fund Balances (Deficits) at the End of the Year
(CONTINUED)
Special
Revenue
Funds
Other Total
Governmental Governmental
Funds Funds
-$ -$ -$ 963,163$ 15,086,836$
- - - 781,785 921,448
- - - 3,415,573 3,478,963
459,595 - - 2,606,780 5,677,086
140,853 (339,002) (11,485) 180,110 997,189
- - - 194,358 448,822
- - - - 2,453,264
- 3,417 - 1,974,238 4,246,036
600,448 (335,585) (11,485) 10,116,007 33,309,644
- - - 39,981 5,227,079
- - - 1,179,808 8,924,343
67,702 - - 3,681,162 5,526,289
125,801 - - 1,540,257 9,348,196
- - - 2,294,377 3,647,853
23,010 - - 747,315 894,814
- - - - 21,385
216,513 - - 9,482,900 33,589,959
383,935 (335,585) (11,485) 633,107 (280,315)
- 530,022 - 1,266,866 6,919,757
- (3,198,230) - (171,801) (6,919,757)
- (2,668,208) - 1,095,065 -
383,935 (3,003,793) (11,485) 1,728,172 (280,315)
14,416,568 28,143,426 - 34,804,777 115,169,345
14,800,503$ 25,139,633$ (11,485)$ 36,532,949$ 114,889,030$
Capital Projects Funds
Endowment
Special
Projects
DDA
Settlement
The notes to financial statements are an integral part of this statement.
23
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24
CITY OF MOORPARK, CALIFORNIA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
YEAR ENDED JUNE 30, 2018
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances - total governmental funds (280,315)$
Governmental funds report capital outlays as expenditures. However, in the
statement of activities, the cost of these assets is allocated over their estimated
useful lives and reported as depreciation expense. This is the amount by which
capital outlays exceeded depreciation expense in the current period.
Capital outlay 1,570,105$
Depreciation (4,332,473)
Loss on disposal of assets (574,876) (3,337,244)
Compensated absences expenses reported in the statement of activities do not
require the use of current financial resources and, therefore, are not reported as
expenditures in governmental funds.25,701
Pension obligation expenses reported in the statement of activities do not require
the use of current financial resources and, therefore, are not reported as
expenditures in governmental funds.3,977,365
Other post-employment benefits obligation expenses reported in the statement of
activities do not require the use of current financial resources and, therefore, are
not reported as expenditures in governmental funds.(28,374)
Revenues reported as unavailable revenue in the governmental funds are
recognized in the statement of activities. These are included in the operating
contributions and miscellaneous income in the statement of activities.(193,799)
Change in Net Position of Governmental Activities 163,334$
The notes to financial statements are an integral part of this statement.
25
CITY OF MOORPARK, CALIFORNIA
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
JUNE 30, 2018
Agency
Fund
Assets:
Cash and investments 5,105,083$ 364,622$
Accounts receivable, net 11,335 -
Prepaid costs - 167,171
Land held for resale - 9,905,743
Restricted cash and investments with fiscal agents 4,098,866 2,055,087
Capital assets, not being depreciated - 264,542
Capital assets, net of accumulated depreciation - 8,364,153
Total Assets 9,215,284$ 21,121,318
Liabilities:
Accounts payable 190,471$ 5,133
Accrued interest - 175,459
Deposits payable 4,915,353 -
Due to bondholders 4,109,460 -
Bonds payable, due within one year - 810,000
Bonds payable, due in more than one year - 21,053,172
Total Liabilities 9,215,284$ 22,043,764
Net Position:
Held in Trust for the Successor Agency (922,446)
Total Net Position (922,446)$
Private-
Purpose Trust
Fund
Successor
Agency
The notes to financial statements are an integral part of this statement.
26
CITY OF MOORPARK, CALIFORNIA
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FIDUCIARY FUNDS
FOR THE YEAR ENDED JUNE 30, 2018
Additions:
RPTTF distribution 1,811,836$
Interest and change in fair value of investments 32,325
Miscellaneous 15,412
Total Additions 1,859,573
Deductions:
Administrative expenses 250,000
Interest expense 707,890
Other payments 2,360,569
Depreciation expense 205,744
Total Deductions 3,524,203
Change in Net Position (1,664,630)
Net Position at the Beginning of the Year 742,184
Net Position at the End of the Year (922,446)$
Private-
Purpose Trust
Fund
Successor
Agency
The notes to financial statements are an integral part of this statement.
27
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CITY OF MOORPARK, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
JUNE 30, 2018
Note 4: Notes and Loans Receivable (Continued)
d. First-Time Homeowner Assistance
The City provides down payment assistance loans to first-time homeowners under
different State and City programs. The total balance outstanding at June 30, 2018, was
$7,548. In order to reinforce the resale restrictions on properties purchased through the
City’s First Time Home Buyer Program, buyers execute Promissory Notes and Deeds
of Trust, which are recorded to secure these Notes. The Notes become payable only in
the event of a default of any provision of this program.
e. Cal Home Mobile-home Rehabilitation Loans
The total balance of Cal Home loans for repairs to mobile-homes in Villa del Arroyo at
June 30, 2018, was $108,659. These loans are subject to a conditional forgiveness
provision, beginning in Year 6 of the loan, continuing through Year 10 of the loan, with
20% of the balance forgiven each of these years; to date $121,072 has been received and
$222,231 has been forgiven. Funds received are deposited into a City Trust Fund to be
used for eligible home ownership-related activities. An allowance account of in the amount
of $108,659 has been created to offset the remaining forgivable portion effectively
reducing the loan to $0.00.
Note 5: Interfund Transactions
The composition of interfund balances as of June 30, 2018, was as follows:
a. Due To/From Other Funds
Receivable Fund Payable Fund Total
Non-Major Funds Non-Major Funds (1) 30,073$
General Fund Non-Major Funds (2) 38,889
Special Revenue - Endowment Non-Major Funds (3) 1,109,796
1,178,758$
(1) In the Fiscal Year 2005/2006, the Los Angeles A.O.C. Fund advanced to the
Tierra Rejada Road/Spring Road A.O.C., $600,000 to construct the median
landscaping along Tierra Rejada Road. Repayment of the outstanding loan is
contingent upon collection of future development fees. The current amount is $30,073.
(2) In the current fiscal year, an amount of $38,889 was provided to the Traffic Safety Fund
from the General Fund to cover negative cash balances. This is considered a
short-term borrowing and is expected to be paid in the next fiscal year.
(3) In the Fiscal Year 2005/2006, the Endowment Fund advanced to the Police Facilities
Fund, $7,641,592 to construct the Police Services Center Building. Future
development fees were pledged to repay this loan. However, in March 2006, it was
determined that at build-out, there will be an estimated $6.6 million shortfall in future
revenues and City Council subsequently approved the contribution of $5,434,834 from
the Endowment Fund. The current amount is $1,109,796.
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60
CITY OF MOORPARK, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
JUNE 30, 2018
Note 12: Risk Management
a. Description of Self-Insurance Pool Pursuant to Joint Powers Agreement
The City of Moorpark is a member of the California Joint Powers Insurance Authority
(Authority). The Authority is composed of 116 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 lines of coverage. The California
JPIA 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 nine-member Executive Committee.
b. Self-Insurance Programs of the Authority
Each member pays an annual contribution at the beginning of the coverage period. A
retrospective adjustment is then conducted annually thereafter, for coverage years
2012-13 and prior. Coverage years 2013-14 and forward are not subject to routine annual
retrospective adjustment. The total funding requirement for primary self-insurance
programs is based on an actuarial analysis. Costs are allocated to individual agencies
based on payroll and claims history, relative to other members of the risk-sharing pool.
Primary Liability Program
Claims are pooled separately between police and general government exposures.
(1) The payroll of each member is evaluated relative to the payroll of other members. A
variable credibility factor is determined for each member, which establishes the weight
applied to payroll and the weight applied to losses within the formula. (2) The first layer
of losses includes incurred costs up to $30,000 for each occurrence and is evaluated
as a percentage of the pool’s total incurred costs within the first layer. (3) The second
layer of losses includes incurred costs from $30,000 to $750,000 for each occurrence
and is evaluated as a percentage of the pool’s total incurred costs within the
second layer. (4) Incurred costs from $750,000 to $50 million, are distributed based
on the outcome of cost allocation within the first and second loss layers.
The overall coverage limit for each member, including all layers of coverage, is
$50 million per occurrence. Subsidence losses have a sub-limit of $40 million
per occurrence. The coverage structure includes retained risk that is pooled
among members, reinsurance, and excess insurance. More detailed information
about the various layers of coverage is available on the following website:
https://cjpia.org/protection/coverage-programs.
Primary Workers’ Compensation Program
Claims are pooled separately between public safety (police and fire) and general
government exposures. (1) The payroll of each member is evaluated relative to the
payroll of other members. A variable credibility factor is determined for each member,
which establishes the weight applied to payroll and the weight applied to losses within
the formula. (2) The first layer of losses includes incurred costs up to $50,000 for each
occurrence and is evaluated as a percentage of the pool’s total incurred costs within
the first layer. (3) The second layer of losses includes incurred costs from $50,000 to
$100,000 for each occurrence and is evaluated as a percentage of the pool’s total
incurred costs within the second layer. (4) Incurred costs from $100,000 to statutory
limits are distributed based on the outcome of cost allocation within the first and
second loss layers.
61
CITY OF MOORPARK, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
JUNE 30, 2018
Note 12: Risk Management (Continued)
For 2017-18 the Authority’s pooled retention is $2 million per occurrence, with
reinsurance to statutory limits under California Workers’ Compensation
Law. Employer’s Liability losses are pooled among members to $2 million. Coverage
from $2 million to $5 million is purchased as part of a reinsurance policy, and
Employer’s Liability losses from $5 million to $10 million are pooled among members.
c. Purchased Insurance
Pollution Legal Liability Insurance
The City of Moorpark participates in the pollution legal liability insurance program
which is available through the Authority. The policy covers sudden and
gradual pollution of scheduled property, streets, and storm drains owned by the
City of Moorpark. Coverage is on a claims-made basis. There is a $50,000
deductible. The Authority has an aggregate limit of $50 million for the 3-year period
from July 1, 2017 through July 1, 2020. Each member of the Authority has a $10 million
sub-limit during the 3-year policy term.
Property 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.
City of Moorpark property is currently insured according to a schedule of
covered property submitted by the City of Moorpark to the Authority. City of Moorpark
property currently has all-risk property insurance protection in the amount of
$55,553,308. There is a $10,000 deductible per occurrence except for non-emergency
vehicle insurance which has a $2,500 deductible.
Crime Insurance
The City of Moorpark purchases crime insurance coverage in the amount of
$1,000,000 with a $2,500 deductible. The fidelity coverage is provided through
the Authority.
d. Adequacy of Protection
During the past three fiscal years, none of the above programs of protection experienced
settlements or judgments that exceeded pooled or insured coverage. There were also no
significant reductions in pooled or insured liability coverage in 2017-18.
Note 13: Commitments and Contingencies
a. Commitments
The City has contracts with 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. These are
based on an hourly rate and adjusted throughout the fiscal year. The estimated amount of
construction contract obligations at year-end is $1,447,961. This amount represents all
outstanding encumbrances relating to capital projects.
62
CITY OF MOORPARK, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
JUNE 30, 2018
Note 13: Commitments and Contingencies (Continued)
b. Contingencies
There are certain legal actions pending against the City which management considers
incident to normal operations, some of which seek substantial monetary damages. In the
opinion of management, after consultation with counsel, the ultimate resolution of such
actions is not expected to have a significant effect on the financial position or the results of
operations of the City.
The City has received State and Federal funds for specific purposes that are subject to
review by the grantor agencies. Although such audits could generate expenditure
disallowance under the terms of the grants, it is believed that any disallowed amounts will
not be material.
c. Successor Agency
Deductions (expenses) incurred by SARA for the year ended June 30, 2018
(and subsequent years in which the Agency is in operation) are subject to review by various
State agencies and the County in which the Agency resides. If any expenses incurred by
the Agency are disallowed by the State agencies or County, the City, acting as the Agency
could be liable for the repayment of the disallowed costs from either its own funds or
by the State withholding remittances normally paid to the City. The amount, if any, of
expenses that may be disallowed by the State agencies or County cannot be determined
at this time, although the Agency expects such amounts, if any, to be immaterial. On
February 12, 2015, the State of California Department of Finance approved the Agency’s
Long-Range Property/Management Plan.
Note 14: Successor Agency Private-Purpose Trust Fund to the Former Redevelopment Agency
of the City of Moorpark (SARA)
On December 29, 2011, the California Supreme Court upheld Assembly Bill X1 26, ("the Bill”)
that provides for the dissolution of all redevelopment agencies in the State of California. Most
of California cities had established a redevelopment agency that was included in the reporting
entity of the city as a blended component unit (since the City Council, in many cases, also
served as the governing board for those agencies). The Bill provided that upon dissolution of
a redevelopment agency, either the city or another unit of local government will agree to serve
as the "Successor Agency" to administer assets, pay and adhere to the provisions of
enforceable obligations, and to expeditiously settle the affairs of the dissolved redevelopment
agency. If the city declines to accept the role of Successor Agency, other local agencies may
elect to perform this role. If no local agency accepts the role of Successor Agency, the Governor
is empowered by the Bill to establish a local "designated local authority" to perform this role.
On January 4, 2012, the City Council met and created the SARA in accordance with the Bill as
part of the City of Moorpark Resolution Number 2012-3079.
After enactment of the law, which occurred on June 28, 2011, redevelopment agencies in the
State of California cannot enter into new projects, obligations or commitments. Subject to the
control of a newly established oversight board, remaining assets could only be used to pay
enforceable obligations in existence at the date of dissolution (including the completion of any
unfinished projects that were subject to legally enforceable, contractual commitments). In future
fiscal years, successor agencies will only be allocated tax increment revenue in the amount
that is necessary to pay the estimated annual installment payments on enforceable obligations
of the former redevelopment agency until all enforceable obligations of the prior redevelopment
agency have been paid in full.
63
CITY OF MOORPARK, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
JUNE 30, 2018
Note 14: Successor Agency Private-Purpose Trust Fund to the Former Redevelopment Agency
of the City of Moorpark (SARA) (Continued)
The Bill directs the State Controller of the State of California to review the propriety of any
transfers of assets between redevelopment agencies and other private and public bodies that
occurred after January 1, 2011. If the body that received such transfers is not contractually
committed to a third party for the expenditure or encumbrance of those assets, the
State Controller is required to order the available assets to be transferred to the public body
designated as the successor agency by the Bill. In accordance with the timeline set forth in the
Bill (as modified by the California Supreme Court on December 29, 2011), all redevelopment
agencies in the State of California were dissolved and ceased to operate as a legal entity
on February 1, 2012. After the date of dissolution, January 31, 2012, the assets, liabilities,
and activities of the dissolved redevelopment agency are reported in a fiduciary fund
(private-purpose trust fund) in the financial statements of the City. The private-purpose trust
fund keeps its activities under the accrual method of accounting.
In accordance with AB 1484 and in compliance with the California Health & Safety Code, the
City elected to be Housing Successor to the housing activities and functions of the
former Agency. Accordingly, all housing assets, as defined by the Health and Safety Code
Section 34176 (e), were transferred to the City in a specially created fund shown as a major
fund in 2018, named “Low-Mod Income Housing Asset Fund” in the Governmental Funds
Financial Statements.
a. Long Term Debt
The following is a schedule of changes in long-term liabilities for the year ended
June 30, 2018:
Beginning Ending Due within
Balance Increases Decreases Balance One Year
Bonds Payable:
2014 Tax allocation refunding bonds 11,970,000$ -$ 750,000$ 11,220,000$ 770,000$
2016 Tax allocation refunding bonds 10,405,000 - 85,000 10,320,000 40,000
Subtotal bonds payable 22,375,000 - 835,000 21,540,000 810,000
Plus/(less) premium/(disount):
2014 Bonds Premium 441,071 - 29,405 411,666 -
2016 Bonds discount (92,708) - (4,214) (88,494) -
Subtotal premium/(discount)348,363 - 25,191 323,172 -
Total 22,723,363$ -$ 860,191$ 21,863,172$ 810,000$
Combined annual debt service requirements to maturity for all bonds are as follows:
Year Ending Principal Interest Total
2019 810,000$ 701,836$ 1,511,836$
2020 685,000 677,936 1,362,936
2021 715,000 651,336 1,366,336
2022 745,000 623,186 1,368,186
2023 760,000 593,836 1,353,836
2024-2028 4,250,000 2,552,126 6,802,126
2029-2033 5,200,000 1,773,168 6,973,168
2034-2038 6,915,000 853,200 7,768,200
2039-2040 1,460,000 43,800 1,503,800
Total 21,540,000$ 8,470,424$ 30,010,424$
64
CITY OF MOORPARK, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
JUNE 30, 2018
Note 14: Successor Agency Private-Purpose Trust Fund to the Former Redevelopment Agency
of the City of Moorpark (SARA) (Continued)
b. 2014 Tax Allocation Refunding Bonds
In November 2014, SARA issued a $13,420,000 aggregated principal amount of
Moorpark Redevelopment Project 2014 Bonds. The purpose of the 2014 Bonds was to
refund the 1999 Bonds and the 2001 Bonds, previously issued by the former Agency. The
2014 Bonds bear interest at rates ranging from 2.000% to 3.375% per annum,
semi-annually on each April 1 and October 1 of each year, commencing on April 1, 2015.
The 2014 Bonds are payable from and secured by, the tax revenues to be derived from
taxes deposited into the Successor Agency’s Redevelopment Obligation Retirement Fund
established pursuant to Health and Safety Code section 34170.5(a). SARA is in
compliance with the covenants contained in the debt indenture, which require the
establishment of certain specific accounts for the 2014 Bonds. As of June 30, 2018, the
unpaid principal balance is $11,220,000.
c. 2016 Tax Allocation Refunding Bonds
In 2006, the Agency issued an $11,695,000 aggregated principal amount of
Moorpark Redevelopment Project 2006 Tax Allocation Bonds (2006 Bonds). The
purpose of the 2006 Bonds was to finance redevelopment activities related to the
Moorpark Redevelopment Project Area. The 2006 Bonds bear interest at rates ranging
from 3.625 percent to 4.375 percent per annum, payable semi-annually on April 1 and
October 1 of each year, commencing on April 1, 2007, and are subject to mandatory sinking
fund redemption commencing on October 1, 2016, and on each October 1 thereafter. The
2006 Bonds are payable from and secured by the tax revenues to be derived from the
project area. The 2006 Bonds are secured by all property tax increment revenue, which
was recorded in the Agency 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 2006 Bonds. The outstanding balance of the bonds was transferred to SARA on
February 1, 2012 as part of the former Agency’s dissolution in accordance with AB X1 26
and AB 1484. SARA is in compliance with the covenants contained in the debt indenture,
which require the establishment of certain specific accounts for the 2006 Bonds. In
July 2016, the Successor Agency issued the 2016 Tax Allocation Refunding Bonds to
refund the entire outstanding balance of the 2006 Tax Allocation Bonds series. The
refunding resulted in annual savings to the debt service of approximately $200,000. The
balance of the refunding debt as of June 30, 2018, is $10,320,000.
d. Pledged Revenue
The City pledged, as security for the bonds issued, a portion of tax increment revenue
(including Low- and Moderate-Income Housing set-aside and pass through allocations)
that it received. The bonds were issued to providing financing for various capital projects,
accomplish Low- and Moderate-Income Housing projects, and to defease previously
issued bonds. Assembly Bill 1X 26 provided that upon dissolution of the redevelopment
activities of the redevelopment agency, property taxes allocated to redevelopment
activities are no longer deemed tax increment, but rather property tax revenues and will be
allocated first to successor agencies to make payments on the indebtedness incurred by
the dissolved redevelopment agency. Total principal and interest remaining on the debt
as of June 30, 2018 is $30,010,424 with annual debt service requirements as indicated
above. For the current year, the total property tax revenue recognized by the successor
agency for the payment of indebtedness incurred by the dissolved redevelopment agency
was $1,811,836 and the debt service obligation on the bonds was $1,548,935.
65
CITY OF MOORPARK, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
JUNE 30, 2018
Note 15: Employees Retirement Plan PARS
The City currently offers an alternative plan for employees classified as part-time, seasonal or
temporary (PST). The plan is administered by the Public Agency Retirement Services (PARS)
and is a deferred compensation plan created in accordance with Internal Revenue Code
Section IRC 457. 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 claims of the
City’s general creditor; consequently, the assets and related liabilities of the plan are not
included within the City’s financial statements. The City contributes 3.75% percent of the
employee’s compensation. In addition, each participant is required to contribute 3.75% of their
salary. During the current fiscal year, the City contributed $8,841 to the plan.
Note 16: Prior Period Adjustment
Beginning net position in the Statement of Net Position was reduced by $301,181 to reflect
the change in accounting principle by the City in the implementation of GASB Statement
No. 75. The table below describes the restatement in detail:
To remove the OPEB liability previously reported, under GASB 45 (604,268)$
To record the deferred outflows related to the OPEB liability
as of June 30, 2017, in accordance with GASB 75 32,000
To record the beginning OPEB liability as of June 30, 2017, in
accordance with GASB 75 271,087
Total Restatement of Net Position due to GASB 75 (301,181)$
Note 17: Subsequent Event
The City of Moorpark has entered into a joint powers agreement with the Santa Monica
Mountains Conservancy to form Moorpark Watershed, Parks, Recreation, and Conservation
Commission (MWPRCA) in January 2017. The City performs the treasury and accounting
function of the MWPRCA. There were no transactions that occurred during FY 2017-18 for
MWPRCA. The city anticipates contributing an eighty-acre parcel of land to MWPRCA during
FY 2018-19. The parcel was purchased by the City for about $1,982,000 in February 2011.
66
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67
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Revenues:
Property Taxes:
Current Secured 3,550,000$ 3,650,000$ 3,727,536$ 77,536$
Current Unsecured 110,000 110,000 115,023 5,023
Prior Year Secured-Unsecured 10,000 10,000 6,624 (3,376)
Supplemental Secure - Unsecured 50,000 50,000 109,232 59,232
Real Property Transfer Tax 225,000 225,000 273,952 48,952
Homeowners Property Exemption 40,000 40,000 37,500 (2,500)
Parcel Tax 385,000 385,000 376,321 (8,679)
Property Taxes - VLF 3,575,000 3,585,000 3,584,277 (723)
Other Property Taxes 550,000 550,000 352,110 (197,890)
Total Property Taxes 8,495,000 8,605,000 8,582,575 (22,425)
Sales Tax:
Sales and Use Tax 3,900,000 3,900,000 4,291,309 391,309
Total Sales Tax 3,900,000 3,900,000 4,291,309 391,309
Franchise Fees:
Franchise Fees 1,315,000 1,275,000 1,141,208 (133,792)
PEG Fees 55,000 55,000 44,053 (10,947)
Landfill and Local Impact Fee 55,000 55,000 56,953 1,953
CIWMP Fees 10,000 10,000 7,575 (2,425)
Total Franchise Fees 1,435,000 1,395,000 1,249,789 (145,211)
License and Permits:
Business Registration 125,000 125,000 139,613 14,613
Special Business Permit - - 50 50
Animal Reg - Animal Licenses 18,000 18,000 56,418 38,418
Total License and Permits 143,000 143,000 196,081 53,081
Fines and Forfeitures:
Muni Code Fines 260,000 260,000 252,969 (7,031)
Animal Control Fines 1,000 1,000 1,145 145
Forfeitures and Penalties 2,000 2,000 350 (1,650)
Total Fines and Forfeitures 263,000 263,000 254,464 (8,536)
Use of Money and Property:
Investment Earnings 475,000 475,000 386,557 (88,443)
Rents and Concessions 353,000 353,000 300,031 (52,969)
Park and Facility Use Fee 123,178 122,000 193,719 71,719
Total Use of Money and Property 951,178 950,000 880,307 (69,693)
Charges for Services:
Other Administrative Services 20,000 20,000 19,060 (940)
Administrative Fees 55,000 65,211 144,193 78,982
Contract Class Registration Fees 250,000 250,000 253,975 3,975
Public Safety Service Fees 60,000 60,000 99,071 39,071
NPDES Business Inspection Fees 10,000 10,000 9,537 (463)
Film Permit Fees 6,000 6,000 5,260 (740)
Recreation Events 697,200 697,200 600,381 (96,819)
Other Recreation Fees 1,300 1,300 3,527 2,227
Program Sales 15,000 15,000 9,925 (5,075)
Other Community Services Fee 12,300 12,300 9,941 (2,359)
Photocopying 1,000 1,000 920 (80)
Sale of Documents 1,000 1,000 282 (718)
Total Charges for Services 1,128,800 1,139,011 1,156,072 17,061
Budget Amounts
The notes to required supplementary information are an integral part of this schedule.
68
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Budget Amounts
Intergovernmental:
Motor Vehicle in Lieu 17,000 17,000 21,775 4,775
Other State Funds 20,000 20,000 15,918 (4,082)
County Grants 55,000 55,000 41,615 (13,385)
Total Intergovernmental 92,000 92,000 79,308 (12,692)
Other Revenues:
Contributions - Donations 16,022 16,022 10,454 (5,568)
Reinstitution-Insurance Proceeds 20,000 211,436 111,405 (100,031)
Expense Reimbursements 275,400 275,400 453,589 178,189
State Grant Settlement - - 769
Revenues not classified elsewhere 14,500 14,500 6,631 (7,869)
Maintenance Use Fee 137,000 - 135,424 135,424
Cost Plan Revenue 1,906,880 1,906,880 1,906,880 -
Cash overage/shortage - - 12 12
Total Other Revenues 2,369,802 2,424,238 2,625,164 200,145
Total Revenues 18,777,780 18,911,249 19,315,069 403,051
Expenditures:
General government 3,641,170 5,544,988 5,180,063 364,925
Public safety 7,863,440 7,967,831 7,666,823 301,008
Community development 829,940 1,395,569 1,121,308 274,261
Parks and recreation 2,824,630 3,782,681 3,079,440 703,241
Public works 343,499 734,639 523,140 211,499
Capital outlay 115,000 216,982 63,266 153,716
Total Expenditures 15,617,679 19,642,690 17,634,040 2,008,650
Excess (deficiency) of revenues
over (under) expenditures 3,160,101 (731,441) 1,681,029 (1,605,599)
Other Financing Sources (Uses):
Transfers in - 3,198,230 3,198,230 -
Transfers out (3,025,031) (3,914,551) (3,549,726) 364,825
Total Other Financing Sources (Uses): (3,025,031) (716,321) (351,496) 364,825
Net Change in Fund Balance 135,070 (1,447,762) 1,329,533 (1,240,774)
Fund Balance at the Beginning of the Year 3,170,193 3,170,193 3,170,193 -
Fund Balance at the End of the Year 3,305,263$ 1,722,431$ 4,499,726$ (1,240,774)$
The notes to required supplementary information are an integral part of this schedule.
69
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
STREET AND TRAFFIC SAFETY
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 21,325,261$ 21,325,261$ 21,325,261$ -$
Resources (Inflows):
Charges for services 763,000 763,000 1,011,131 248,131
Use of money and property 360,000 360,000 109,980 (250,020)
22,448,261 22,448,261 22,446,372 (1,889)
Charges to Appropriations (Outflows):
Public safety 52,211 65,325 66,278 (953)
Public services 283,920 316,707 272,460 44,247
Parks and recreation 1,000 1,000 - 1,000
Street and roads - 9,970 1,751 8,219
Capital outlay 2,227,804 2,264,358 52,252 2,212,106
Total Charges to Appropriations 2,564,935 2,657,360 392,741 2,264,619
Budgetary Fund Balance, June 30 19,883,326$ 19,790,901$ 22,053,631$ 2,262,730$
The notes to required supplementary information are an integral part of this schedule.
70
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
ASSESSMENT DISTRICTS
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 5,630,224$ 5,630,224$ 5,630,224$ -$
Resources (Inflows):
Use of money and property 68,100 68,100 16,211 (51,889)
Maintenance Assessment 2,898,288 2,898,288 2,453,264 (445,024)
Miscellaneous 16,500 16,500 1,423 (15,077)
Transfers in 2,266,231 2,592,549 1,924,639 (667,910)
Amounts Available for Appropriations 10,879,343 11,205,661 10,025,761 (1,179,900)
Charges to Appropriations (Outflows):
Public safety 12,247 16,345 11,434 4,911
Public services 396,075 396,075 353,690 42,385
Parks and recreation 5,331,164 6,223,995 4,602,698 1,621,297
Streets and roads - 1,003,431 828,585 174,846
Capital outlay 60,000 73,823 8,971 64,852
Total Charges to Appropriations 5,799,486 7,713,669 5,805,378 1,908,291
Budgetary Fund Balance, June 30 5,079,857$ 3,491,992$ 4,220,383$ 728,391$
The notes to required supplementary information are an integral part of this schedule.
71
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
LOW-MOD INCOME HOUSING ASSET
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 7,678,896$ 7,678,896$ 7,678,896$ -$
Resources (Inflows):
Use of money and property 23,100 23,100 20,215 (2,885)
Miscellaneous - - 12,966 12,966
Amounts Available for Appropriations 7,701,996 7,701,996 7,712,077 10,081
Charges to Appropriations (Outflows):
General government 8,290 8,790 7,035 1,755
Public services 43,680 62,701 29,967 32,734
Debt service:
Interest and fiscal charges 25,000 25,000 21,385 3,615
Total Charges to Appropriations 76,970 96,491 58,387 38,104
Budgetary Fund Balance, June 30 7,625,026$ 7,605,505$ 7,653,690$ 48,185$
The notes to required supplementary information are an integral part of this schedule.
72
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
ENDOWMENT
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 14,416,568$ 14,416,568$ 14,416,568$ -$
Resources (Inflows):
Charges for services 357,000 357,000 459,595 102,595
Use of money and property 227,000 227,000 140,853 (86,147)
Amounts Available for Appropriations 15,000,568 15,000,568 15,017,016 16,448
Charges to Appropriations (Outflows):
Public services 245,000 310,118 67,702 242,416
Parks and recreation 29,700 274,700 125,801 148,899
Capital outlay 4,047,627 5,593,347 23,010 5,570,337
Total Charges to Appropriations 4,322,327 6,178,165 216,513 5,961,652
Budgetary Fund Balance, June 30 10,678,241$ 8,822,403$ 14,800,503$ 5,978,100$
The notes to required supplementary information are an integral part of this schedule.
73
CITY OF MOORPARK, CALIFORNIA
MISCELLANEOUS PENSION PLAN
SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
AS OF JUNE 30, FOR THE LAST TEN FISCAL YEARS (1)
2018 2017 2016 2015
Proportion of the Net Pension Liability 0.03992% 0.03437% 0.01593% 0.07120%
Proportionate Share of the Net Pension Liability 3,959,121$ 2,973,847$ 1,093,178$ 4,430,102$
Covered Payroll 4,806,765$ 5,015,277$ 5,084,665$ 4,861,780$
Proportionate Share of the Net Pension Liability as
Percentage of Covered Payroll 82.37% 59.30% 21.50% 91.12%
Plan Fiduciary Net Position as a Percentage of the Total
Pension Liability 73.31% 74.06% 78.40% 79.82%
Notes to Schedule:
Changes of Assumptions: In 2018, the accounting discount rate reduced from 7.65 percent to 7.15 percent.
Benefit Changes: None
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first
year of implementation, therefore only four years are shown.
74
CITY OF MOORPARK, CALIFORNIA
MISCELLANEOUS PENSION PLAN
SCHEDULE OF PLAN CONTRIBUTIONS
AS OF JUNE 30, FOR THE LAST TEN FISCAL YEARS (1)
2018 2017 2016 2015
Actuarially Determined Contribution 819,439$ 491,496$ 457,020$ 547,265$
Contribution in Relation to the Actuarially Determined Contribution (4,819,439) (491,496) (457,020) (4,147,265)
Contribution Deficiency (Excess)(4,000,000)$ -$ -$ (3,600,000)$
Covered Payroll 4,851,442$ 4,806,765$ 5,015,277$ 5,084,665$
Contributions as a Percentage of Covered Payroll 99.34% 10.23% 9.11%81.56%
Note to Schedule:
Valuation Date:June 30, 2015
Methods and assumptions used to determine contribution rates:
Actuarial cost method Entry Age Normal Cost Method
Remaining amortization period 30 years with a 5 year ramp up and a 5 year ramp down
Assets valuation method Market value of assets
Inflation 2.75 percent compounded annually
Salary Increases 3.00 percent compounded annually
Discount rate 7.50 percent compounded annual (net of expenses)
Mortality Derived using CalPERS' membership data for all funds
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of
implementation, therefore only four years are shown.
75
CITY OF MOORPARK, CALIFORNIA
OTHER POST-EMPLOYMENT BENEFITS PLAN
SCHEDULE OF CHANGES IN THE NET OPEB ASSET AND RELATED RATIOS
AS OF JUNE 30, FOR THE LAST TEN FISCAL YEARS (1)
2018
Measurement Date June 30, 2017
Changes in Total OPEB Liability:
Service cost 58,096$
Interest 113,702
Benefit payments (51,499)
Net change in total OPEB liability 120,299
Total OPEB liability - beginning of year 1,652,131
Total OPEB liability - end of year (a)1,772,430$
Changes in Plan Fiduciary Net Position:
Contributions - employer 32,000$
Net investment income 203,145
Benefit payments (51,499)
Administrative expenses (1,031)
Net change in plan fiduciary net position 182,615
Plan fiduciary net position - beginning of year 1,923,218
Plan fiduciary net position - end of year (b)2,105,833$
Net OPEB Liability/(Asset) (a) - (b)(333,403)$
Plan fiduciary net position as a percentage of the total OPEB liability 118.81%
Covered-employee payroll 5,784,764$
Net OPEB asset as a percentage of covered-employee payroll -5.76%
Notes to Schedule:
(1) Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018
was the first year of implementation. Future years' information will be displayed up to 10 years as information becomes
available.
76
CITY OF MOORPARK, CALIFORNIA
OTHER POST-EMPLOYMENT BENEFITS PLAN
SCHEDULE OF PLAN CONTRIBUTIONS
AS OF JUNE 30, FOR THE LAST TEN FISCAL YEARS (1)
2018
40,000$
-
40,000$
6,234,093$
0.64%
Notes to Schedule:
(2) Contributions to trust of $0 plus $46,000 implied subsidy benefits paid by the City
Valuation Date
Actuarial Cost Method
Amortization Method
Amortization Period
Asset Valuation Method
Discount Rate
General Inflation
Medical Trend
Mortality
Mortality Improvement
Actuarially Determined Contribution
Contribution in Relation to the Actuarially Determined Contributions (2)
Contribution Deficiency (Excess)
Covered-employee payroll
Contributions as a percentage of covered-employee payroll
Post-retirement mortality projected fully
generational with Scale MP-2017
6.75%
CalPERS 1997-2015 experience study
June 30, 2017
Entry Age Normal, Level Percentage of Payroll
2.75%
Non-Medicare - 7.5% for 2019, decreasing to an
ultimate rate of 4.0% in 2076 and later years
Medicare - 6.5% for 2019, decreasing to an
ultimate rate of 4.0% in 2076 and later years
(1) Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018
was the first year of implementation. Future years' information will be displayed up to 10 years as information becomes
available.
15-year fixed period for each new base established
beginning with FYE 2015 UAL
Level percent of pay
Investment gains and losses spread over 5-year
rolling period
Methods and Assumptions for 2017/18 Actuarially Determined Contribution
77
CITY OF MOORPARK, CALIFORNIA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2018
Assets:
Cash and investments 4,962,786$ 921,176$ 904,244$
Receivables:
Accounts 10,753 3,028 1,657
Notes and loans - - -
Accrued interest - - -
Prepaid costs - - -
Due from other funds - - -
Land held for resale - - -
Total Assets 4,973,539$ 924,204$ 905,901$
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficits):
Liabilities:
Accounts payable 29,052$ 924,132$ 17,345$
Unearned revenues - - -
Deposits payable - - -
Due to other funds - - -
Total Liabilities 29,052 924,132 17,345
Deferred Inflows of Resources:
Unavailable revenues - 72 -
Total Deferred Inflows of Resources - 72 -
Fund Balances (Deficits):
Nonspendable:
Prepaid costs - - -
Restricted:
Public services - - -
Recreation services 4,944,487 - -
Low and moderate income housing - - -
Committed:
Library services - - 888,556
Assigned:
Capital projects - - -
Unassigned - - -
Total Fund Balances (Deficits)4,944,487 - 888,556
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficits)4,973,539$ 924,204$ 905,901$
Special Revenue Funds
Library
Services
Parks/Public
Facilities
Community
Development
78
CITY OF MOORPARK, CALIFORNIA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2018
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Prepaid costs
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficits):
Liabilities:
Accounts payable
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances (Deficits):
Nonspendable:
Prepaid costs
Restricted:
Public services
Recreation services
Low and moderate income housing
Committed:
Library services
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficits)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficits)
(CONTINUED)
-$ 3,137,068$ 2,018$
27,947 6,219 4
- 1,257,548 -
- 58,595 -
- - -
- - -
- 577,348 -
27,947$ 5,036,778$ 2,022$
146$ 594$ -$
- - -
- - -
38,889 - 30,073
39,035 594 30,073
- 1,316,142 -
- 1,316,142 -
- - -
- - -
- - -
- 3,720,042 -
- - -
- - -
(11,088) - (28,051)
(11,088) 3,720,042 (28,051)
27,947$ 5,036,778$ 2,022$
Special Revenue Funds
Traffic Safety
City Affordable
Housing
Tierra
Rejada/Spring
Road A.O.C.
79
CITY OF MOORPARK, CALIFORNIA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2018
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Prepaid costs
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficits):
Liabilities:
Accounts payable
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances (Deficits):
Nonspendable:
Prepaid costs
Restricted:
Public services
Recreation services
Low and moderate income housing
Committed:
Library services
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficits)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficits)
96,937$ 10,436,478$ 16,230$
192 20,863 32
- 250,249 -
- 188,472 -
- - -
- 30,073 -
- - -
97,129$ 10,926,135$ 16,262$
-$ 58,404$ -$
- - -
- 4,000 -
- - -
- 62,404 -
- 438,721 -
- 438,721 -
- - -
97,129 10,425,010 16,262
- - -
- - -
- - -
- - -
- - -
97,129 10,425,010 16,262
97,129$ 10,926,135$ 16,262$
Special Revenue Funds
Fremont Storm
Drain A.O.C.
Casey/Gabbert
Road A.O.C.
Los Angeles
A.O.C.
80
CITY OF MOORPARK, CALIFORNIA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2018
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Prepaid costs
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficits):
Liabilities:
Accounts payable
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances (Deficits):
Nonspendable:
Prepaid costs
Restricted:
Public services
Recreation services
Low and moderate income housing
Committed:
Library services
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficits)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficits)
(CONTINUED)
910,598$ 4,553,754$ 1,174,263$
79,872 9,054 6,734
- - -
- - -
- - -
- - -
- - -
990,470$ 4,562,808$ 1,180,997$
15,693$ 15,064$ 59,030$
- - -
- - -
- - -
15,693 15,064 59,030
- - 591
- - 591
- - -
974,777 - 1,121,376
- 4,547,744 -
- - -
- - -
- - -
- - -
974,777 4,547,744 1,121,376
990,470$ 4,562,808$ 1,180,997$
Special Revenue Funds
State Gas Tax
Art In Public
Places
State And
Federal
Assistance
81
CITY OF MOORPARK, CALIFORNIA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2018
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Prepaid costs
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficits):
Liabilities:
Accounts payable
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances (Deficits):
Nonspendable:
Prepaid costs
Restricted:
Public services
Recreation services
Low and moderate income housing
Committed:
Library services
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficits)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficits)
151,182$ 315,245$ 1,061,418$
331,980 626 27,867
- - -
- - -
- - -
- - -
- - -
483,162$ 315,871$ 1,089,285$
127,762$ -$ 25,551$
- 282,189 -
- - -
- - -
127,762 282,189 25,551
53,802 - -
53,802 - -
- - -
301,598 33,682 1,063,734
- - -
- - -
- - -
- - -
- - -
301,598 33,682 1,063,734
483,162$ 315,871$ 1,089,285$
Special Revenue Funds
Solid Waste
Local
Transportation
Transit
Prop 1B Local
Streets And
Roads
82
CITY OF MOORPARK, CALIFORNIA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2018
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Prepaid costs
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficits):
Liabilities:
Accounts payable
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances (Deficits):
Nonspendable:
Prepaid costs
Restricted:
Public services
Recreation services
Low and moderate income housing
Committed:
Library services
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficits)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficits)
(CONTINUED)
1,394$ 608,634$ 3,699,577$
156 1,213 7,357
- - -
- - -
- - -
- - -
- - -
1,550$ 609,847$ 3,706,934$
-$ -$ -$
- - -
- - -
1,109,796 - -
1,109,796 - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- 609,847 3,706,934
(1,108,246) - -
(1,108,246) 609,847 3,706,934
1,550$ 609,847$ 3,706,934$
Capital Projects Funds
Capital
Projects
City Hall
Building
Police
Facilities Fee
83
CITY OF MOORPARK, CALIFORNIA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2018
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Prepaid costs
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficits):
Liabilities:
Accounts payable
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances (Deficits):
Nonspendable:
Prepaid costs
Restricted:
Public services
Recreation services
Low and moderate income housing
Committed:
Library services
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficits)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficits)
Total
Governmental
Funds
3,286,099$ 1,937,839$ 38,176,940$
6,524 3,848 545,926
- - 1,507,797
- - 247,067
5,711 - 5,711
- - 30,073
- - 577,348
3,298,334$ 1,941,687$ 41,090,862$
10,865$ -$ 1,283,638$
- - 282,189
- - 4,000
- - 1,178,758
10,865 - 2,748,585
- - 1,809,328
- - 1,809,328
5,711 - 5,711
- - 14,033,568
- - 9,492,231
- - 3,720,042
- - 888,556
3,281,758 1,941,687 9,540,226
- - (1,147,385)
3,287,469 1,941,687 36,532,949
3,298,334$ 1,941,687$ 41,090,862$
Capital Projects Funds
Equipment
Replacement
Remain MRA
Bond
Proceeds
84
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85
CITY OF MOORPARK, CALIFORNIA
COMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2018
Revenues:
Taxes -$ -$ 963,163$
Licenses and permits - 781,785 -
Intergovernmental - - -
Charges for services 534,291 728,722 4,783
Use of money and property 23,364 3,799 5,887
Fines and forfeitures - 765 13,445
Miscellaneous - - 5,695
Total Revenues 557,655 1,515,071 992,973
Expenditures:
Current:
General government - 175 136
Public safety - 803,627 -
Public services - 1,979,109 -
Parks and recreation 560,929 - 951,869
Streets and roads - - -
Capital outlay 132,703 - -
Total Expenditures 693,632 2,782,911 952,005
Excess (Deficiency) of Revenues
Over (Under) Expenditures (135,977) (1,267,840) 40,968
Other Financing Sources (Uses):
Transfers in - 1,266,866 -
Transfers out - - -
Proceeds from sale of capital asset - - -
Total Other Financing Sources (Uses)- 1,266,866 -
Net Change in Fund Balances (135,977) (974) 40,968
Fund Balances (Deficits) at the Beginning of the Year 5,080,464 974 847,588
Fund Balances (Deficits) at the End of the Year 4,944,487$ -$ 888,556$
Special Revenue Funds
Parks/Public
Facilities
Community
Development
Library
Services
86
CITY OF MOORPARK, CALIFORNIA
COMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2018
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Public services
Parks and recreation
Streets and roads
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Proceeds from sale of capital asset
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficits) at the Beginning of the Year
Fund Balances (Deficits) at the End of the Year
(CONTINUED)
-$ -$ -$
- - -
- - -
- 171,598 -
(5) 24,058 (15)
180,148 - -
- - -
180,143 195,656 (15)
18,865 - -
242,639 24,636 -
- 282,335 -
- - -
6 - -
- 252,547 -
261,510 559,518 -
(81,367) (363,862) (15)
- - -
- - -
- - -
- - -
(81,367) (363,862) (15)
70,279 4,083,904 (28,036)
-$ (11,088)$ 3,720,042$ (28,051)$
Special Revenue Funds
Traffic Safety
City Affordable
Housing
Tierra
Rejada/Spring
Road A.O.C.
87
CITY OF MOORPARK, CALIFORNIA
COMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2018
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Public services
Parks and recreation
Streets and roads
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Proceeds from sale of capital asset
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficits) at the Beginning of the Year
Fund Balances (Deficits) at the End of the Year
-$ -$ -$
- - -
- - -
- 442,205 -
168 66,457 29
- - -
- - -
168 508,662 29
- - -
- - -
- 61,528 -
- - -
- 298 -
- 244,185 -
- 306,011 -
168 202,651 29
- - -
- - -
- - -
- - -
168 202,651 29
96,961 10,222,359 16,233
97,129$ 10,425,010$ 16,262$
Special Revenue Funds
Casey/Gabbert
Road A.O.C.
Los Angeles
A.O.C.
Fremont Storm
Drain A.O.C.
88
CITY OF MOORPARK, CALIFORNIA
COMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2018
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Public services
Parks and recreation
Streets and roads
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Proceeds from sale of capital asset
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficits) at the Beginning of the Year
Fund Balances (Deficits) at the End of the Year
(CONTINUED)
-$ -$ -$
- - -
1,002,198 - 1,217,966
- 311,568 -
227 7,890 950
- - -
7,995 - 17,151
1,010,420 319,458 1,236,067
- 6 -
- - 108,906
- - -
- 27,459 -
897,228 - 1,221,845
- 60,571 7,437
897,228 88,036 1,338,188
113,192 231,422 (102,121)
- - -
(171,801) - -
- - -
(171,801) - -
(58,609) 231,422 (102,121)
1,033,386 4,316,322 1,223,497
974,777$ 4,547,744$ 1,121,376$
Special Revenue Funds
State Gas Tax
Art In Public
Places
State And
Federal
Assistance
89
CITY OF MOORPARK, CALIFORNIA
COMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2018
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Public services
Parks and recreation
Streets and roads
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Proceeds from sale of capital asset
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficits) at the Beginning of the Year
Fund Balances (Deficits) at the End of the Year
-$ -$ -$
- - -
1,167,833 7,949 19,627
69,021 - 267,482
27,620 548 2,061
- - -
2,100 - 108
1,266,574 8,497 289,278
- - -
- - -
1,000,173 - 358,017
- - -
- - -
- 7,949 -
1,000,173 7,949 358,017
266,401 548 (68,739)
- - -
- - -
- - -
- - -
266,401 548 (68,739)
35,197 33,134 1,132,473
301,598$ 33,682$ 1,063,734$
Special Revenue Funds
Local
Transportation
Transit
Prop 1B Local
Streets And
Roads Solid Waste
90
CITY OF MOORPARK, CALIFORNIA
COMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2018
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Public services
Parks and recreation
Streets and roads
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Proceeds from sale of capital asset
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficits) at the Beginning of the Year
Fund Balances (Deficits) at the End of the Year
(CONTINUED)
-$ -$ -$
- - -
- - -
77,110 - -
47 1,041 6,518
- - -
- - -
77,157 1,041 6,518
- - -
- - -
- - -
- - -
- 175,000 -
- 2,135 13,038
- 177,135 13,038
77,157 (176,094) (6,520)
- - -
- - -
- - -
- - -
77,157 (176,094) (6,520)
(1,185,403) 785,941 3,713,454
(1,108,246)$ 609,847$ 3,706,934$
Capital Projects Funds
Police
Facilities Fee
Capital
Projects
City Hall
Building
91
CITY OF MOORPARK, CALIFORNIA
COMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2018
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Public services
Parks and recreation
Streets and roads
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Proceeds from sale of capital asset
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficits) at the Beginning of the Year
Fund Balances (Deficits) at the End of the Year
Total
Governmental
Funds
-$ -$ 963,163$
- - 781,785
- - 3,415,573
- - 2,606,780
5,852 3,614 180,110
- - 194,358
3,116 1,938,073 1,974,238
8,968 1,941,687 10,116,007
20,799 - 39,981
- - 1,179,808
- - 3,681,162
- - 1,540,257
- - 2,294,377
26,750 - 747,315
47,549 - 9,482,900
(38,581) 1,941,687 633,107
- - 1,266,866
- - (171,801)
- - -
- - 1,095,065
(38,581) 1,941,687 1,728,172
3,326,050 - 34,804,777
3,287,469$ 1,941,687$ 36,532,949$
Capital Projects Funds
Equipment
Replacement
Remain MRA
Bond
Proceeds
92
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
PARKS/PUBLIC FACILITIES
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 5,080,464$ 5,080,464$ 5,080,464$ -$
Resources (Inflows):
Charges for services 528,000 546,000 534,291 (11,709)
Use of money and property 85,000 85,000 23,364 (61,636)
Miscellaneous - 51,054 - (51,054)
Amounts Available for Appropriations 5,693,464 5,762,518 5,638,119 (124,399)
Charges to Appropriations (Outflows):
Parks and recreation 170,100 707,270 560,929 146,341
Capital outlay 288,000 442,049 132,703 309,346
Total Charges to Appropriations 458,100 1,149,319 693,632 455,687
Budgetary Fund Balance, June 30 5,235,364$ 4,613,199$ 4,944,487$ 331,288$
93
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
COMMUNITY DEVELOPMENT
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 974$ 974$ 974$ -$
Resources (Inflows):
Licenses and permits 475,300 475,300 781,785 306,485
Charges for services 632,000 632,000 728,722 96,722
Use of money and property 20,000 20,000 3,799 (16,201)
Fines and forfeitures 7,000 7,000 765 (6,235)
Transfers in 995,137 1,493,801 1,266,866 (226,935)
Amounts Available for Appropriations 2,130,411 2,629,075 2,782,911 153,836
Charges to Appropriations (Outflows):
General government - - 175 (175)
Public safety 475,870 533,498 803,627 (270,129)
Public services 1,653,567 2,095,523 1,979,109 116,414
Total Charges to Appropriations 2,129,437 2,629,021 2,782,911 (153,890)
Budgetary Fund Balance, June 30 974$ 54$ -$ (54)$
94
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
LIBRARY SERVICES
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 847,588$ 847,588$ 847,588$ -$
Resources (Inflows):
Taxes 925,000 950,000 963,163 13,163
Charges for services 4,000 4,000 4,783 783
Use of money and property 20,000 20,000 5,887 (14,113)
Fines and forfeitures 15,000 15,000 13,445 (1,555)
Miscellaneous - - 5,695 5,695
Amounts Available for Appropriations 1,811,588 1,836,588 1,840,561 3,973
Charges to Appropriations (Outflows):
General government - - 136 (136)
Parks and recreation 945,637 1,016,562 951,869 64,693
Total Charges to Appropriations 945,637 1,016,562 952,005 64,557
Budgetary Fund Balance, June 30 865,951$ 820,026$ 888,556$ 68,530$
95
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
TRAFFIC SAFETY
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 70,279$ 70,279$ 70,279$ -$
Resources (Inflows):
Use of money and property 5,000 5,000 (5) (5,005)
Fines and forfeitures 168,000 168,000 180,148 12,148
Amounts Available for Appropriations 243,279 243,279 250,422 7,143
Charges to Appropriations (Outflows):
General government 18,000 18,000 18,865 (865)
Public safety 168,971 259,909 242,639 17,270
Streets and roads - - 6 (6)
Total Charges to Appropriations 186,971 277,909 261,510 16,399
Budgetary Fund Balance, June 30 56,308$ (34,630)$ (11,088)$ 23,542$
96
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
CITY AFFORDABLE HOUSING
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 4,083,904$ 4,083,904$ 4,083,904$ -$
Resources (Inflows):
Charges for services 135,000 135,000 171,598 36,598
Use of money and property 56,000 56,000 24,058 (31,942)
Amounts Available for Appropriations 4,274,904 4,274,904 4,279,560 4,656
Charges to Appropriations (Outflows):
Public safety 20,751 25,054 24,636 418
Public services 613,368 1,102,653 282,335 820,318
Capital outlay 1,200,000 1,457,000 252,547 1,204,453
Total Charges to Appropriations 1,834,119 2,584,707 559,518 2,025,189
Budgetary Fund Balance, June 30 2,440,785$ 1,690,197$ 3,720,042$ 2,029,845$
97
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
CASEY/GABBERT ROAD A.O.C.
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 96,961$ 96,961$ 96,961$ -$
Resources (Inflows):
Use of money and property 1,000 1,000 168 (832)
Amounts Available for Appropriations 97,961 97,961 97,129 (832)
Budgetary Fund Balance, June 30 97,961$ 97,961$ 97,129$ (832)$
98
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
LOS ANGELES A.O.C.
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 10,222,359$ 10,222,359$ 10,222,359$ -$
Resources (Inflows):
Charges for services 336,000 336,000 442,205 106,205
Use of money and property 223,000 223,000 66,457 (156,543)
Amounts Available for Appropriations 10,781,359 10,781,359 10,731,021 (50,338)
Charges to Appropriations (Outflows):
Public services 11,110 70,222 61,528 8,694
Streets and roads - - 298 (298)
Capital outlay 10,146,752 10,116,802 244,185 9,872,617
Total Charges to Appropriations 10,157,862 10,187,024 306,011 9,881,013
Budgetary Fund Balance, June 30 623,497$ 594,335$ 10,425,010$ 9,830,675$
99
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
FREMONT STORM DRAIN A.O.C.
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 16,233$ 16,233$ 16,233$ -$
Resources (Inflows):
Use of money and property 1,000 1,000 29 (971)
Amounts Available for Appropriations 17,233 17,233 16,262 (971)
Budgetary Fund Balance, June 30 17,233$ 17,233$ 16,262$ (971)$
100
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
STATE GAS TAX
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 1,033,386$ 1,033,386$ 1,033,386$ -$
Resources (Inflows):
Intergovernmental 1,030,000 1,030,000 1,002,198 (27,802)
Use of money and property 15,000 15,000 227 (14,773)
Miscellaneous - - 7,995 7,995
Amounts Available for Appropriations 2,078,386 2,078,386 2,043,806 (34,580)
Charges to Appropriations (Outflows):
Streets and roads 926,365 1,058,478 897,228 161,250
Capital outlay 536,344 536,344 - 536,344
Transfers out 236,337 171,801 171,801 -
Total Charges to Appropriations 1,699,046 1,766,623 1,069,029 697,594
Budgetary Fund Balance, June 30 379,340$ 311,763$ 974,777$ 663,014$
101
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
ART IN PUBLIC PLACES
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 4,316,322$ 4,316,322$ 4,316,322$ -$
Resources (Inflows):
Charges for services 139,000 200,000 311,568 111,568
Use of money and property 90,000 90,000 7,890 (82,110)
Amounts Available for Appropriations 4,545,322 4,606,322 4,635,780 29,458
Charges to Appropriations (Outflows):
General government - - 6 (6)
Parks and recreation 16,682 26,904 27,459 (555)
Capital outlay 149,914 156,539 60,571 95,968
Total Charges to Appropriations 166,596 183,443 88,036 95,407
Budgetary Fund Balance, June 30 4,378,726$ 4,422,879$ 4,547,744$ 124,865$
102
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
STATE AND FEDERAL ASSISTANCE
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 1,223,497$ 1,223,497$ 1,223,497$ -$
Resources (Inflows):
Intergovernmental 3,689,867 3,697,559 1,217,966 (2,479,593)
Use of money and property 14,000 14,000 950 (13,050)
Miscellaneous - - 17,151 17,151
Amounts Available for Appropriations 4,927,364 4,935,056 2,459,564 (2,475,492)
Charges to Appropriations (Outflows):
Public safety 100,000 100,000 108,906 (8,906)
Streets and roads 1,282,701 1,424,821 1,221,845 202,976
Capital outlay 2,681,012 2,686,261 7,437 2,678,824
Total Charges to Appropriations 4,063,713 4,211,082 1,338,188 2,872,894
Budgetary Fund Balance, June 30 863,651$ 723,974$ 1,121,376$ 397,402$
103
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
LOCAL TRANSPORTATION TRANSIT
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 35,197$ 35,197$ 35,197$ -$
Resources (Inflows):
Intergovernmental 1,234,777 1,250,777 1,167,833 (82,944)
Charges for services 77,000 77,000 69,021 (7,979)
Use of money and property 27,000 27,000 27,620 620
Miscellaneous - - 2,100 2,100
Amounts Available for Appropriations 1,373,974 1,389,974 1,301,771 (88,203)
Charges to Appropriations (Outflows):
Public services 1,096,500 1,234,654 1,000,173 234,481
Capital outlay 244,793 244,793 - 244,793
Total Charges to Appropriations 1,341,293 1,479,447 1,000,173 479,274
Budgetary Fund Balance (Deficit), June 30 32,681$ (89,473)$ 301,598$ 391,071$
104
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
PROP 1B LOCAL STREETS AND ROADS
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 33,134$ 33,134$ 33,134$ -$
Resources (Inflows):
Intergovernmental 313,000 313,000 7,949 (305,051)
Use of money and property 10,000 10,000 548 (9,452)
Amounts Available for Appropriations 356,134 356,134 41,631 (314,503)
Charges to Appropriations (Outflows):
Capital outlay 281,409 300,139 7,949 292,190
Total Charges to Appropriations 281,409 300,139 7,949 292,190
Budgetary Fund Balance, June 30 74,725$ 55,995$ 33,682$ (22,313)$
105
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
SOLID WASTE
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 1,132,473$ 1,132,473$ 1,132,473$ -$
Resources (Inflows):
Taxes - - - -
Intergovernmental 10,000 10,000 19,627 9,627
Charges for services 302,000 302,000 267,482 (34,518)
Use of money and property 15,000 15,000 2,061 (12,939)
Miscellaneous - 10,000 108 (9,892)
Amounts Available for Appropriations 1,459,473 1,469,473 1,421,751 (47,722)
Charges to Appropriations (Outflows):
Public services 295,693 390,440 358,017 32,423
Total Charges to Appropriations 295,693 390,440 358,017 32,423
Budgetary Fund Balance, June 30 1,163,780$ 1,079,033$ 1,063,734$ (15,299)$
106
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
SPECIAL PROJECTS
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 28,143,426$ 28,143,426$ 28,143,426$ -$
Resources (Inflows):
Use of money and property - - (339,002) (339,002)
Miscellaneous - - 3,417 3,417
Transfers in - - 530,022 530,022
Amounts Available for Appropriations 28,143,426 28,143,426 28,337,863 194,437
Charges to Appropriations (Outflows):
Transfers out - 3,198,230 3,198,230 -
Total Charges to Appropriations - 3,198,230 3,198,230 -
Budgetary Fund Balance, June 30 28,143,426$ 24,945,196$ 25,139,633$ 194,437$
107
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
CAPITAL PROJECTS
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 785,941$ 785,941$ 785,941$ -$
Resources (Inflows):
Use of money and property 10,000 10,000 1,041 (8,959)
Amounts Available for Appropriations 795,941 795,941 786,982 (8,959)
Charges to Appropriations (Outflows):
Streets and roads 174,950 174,950 175,000 (50)
Capital outlay - - 2,135 (2,135)
Total Charges to Appropriations 174,950 174,950 177,135 (2,185)
Budgetary Fund Balance, June 30 620,991$ 620,991$ 609,847$ (11,144)$
108
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
CITY HALL BUILDING
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 3,713,454$ 3,713,454$ 3,713,454$ -$
Resources (Inflows):
Use of money and property 55,000 55,000 6,518 (48,482)
Amounts Available for Appropriations 3,768,454 3,768,454 3,719,972 (48,482)
Charges to Appropriations (Outflows):
Capital outlay 3,358,702 3,366,549 13,038 3,353,511
Total Charges to Appropriations 3,358,702 3,366,549 13,038 3,353,511
Budgetary Fund Balance, June 30 409,752$ 401,905$ 3,706,934$ 3,305,029$
109
CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
EQUIPMENT REPLACEMENT
FOR THE YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 3,326,050$ 3,326,050$ 3,326,050$ -$
Resources (Inflows):
Use of money and property 30,000 30,000 5,852 (24,148)
Miscellaneous - - 3,116 3,116
Amounts Available for Appropriations 3,356,050 3,356,050 3,335,018 (21,032)
Charges to Appropriations (Outflows):
General government 44,000 47,227 20,799 26,428
Capital outlay 270,500 270,500 26,750 243,750
Total Charges to Appropriations 314,500 317,727 47,549 270,178
Budgetary Fund Balance, June 30 3,041,550$ 3,038,323$ 3,287,469$ 249,146$
110
CITY OF MOORPARK, CALIFORNIA
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUND
FOR THE YEAR ENDED JUNE 30, 2018
Balance Balance
July 1, 2017 Additions Deductions June 30, 2018
Assets:
Cash and investments 4,567,425$ 3,715,913$ 3,178,255$ 5,105,083$
Accounts receivable, net 27,685 20,309 36,659 11,335
Restricted cash and investments with fiscal agents 4,940,275 1,549,949 2,391,358 4,098,866
Total Assets 9,535,385$ 5,286,171$ 5,606,272$ 9,215,284$
Liabilities:
Accounts payable 89,375$ 715,194$ 614,098$ 190,471$
Deposits payable 4,472,013 2,454,847 2,011,507 4,915,353
Due to bondholders 4,973,997 3,109,633 3,974,170 4,109,460
Total Liabilities 9,535,385 $ 6,279,674 $ 6,599,775 $ 9,215,284 $
The notes to financial statements are an integral part of this statement.
111
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112
Contents Page
Financial Trends 114
These tables contain trend information over multiple years in
order to better help the reader understand how the City's
financial performance has changed over time.
Revenue Capacity 122
These tables contain information regarding the City's largest
own-source revenue, property tax.
Debt Capacity 127
These tables present information regarding the City's current
debt requirements and the City's financial ability to issue
additional debt in the future.
Demographic and Economic Information 133
These tables present demographic and economic indicators
that provide the reader a better understanding of the
environment within which the City's activities take place
and allow for comparison between cities.
Operating Information 135
These tables provide information regarding the City's
operations and resources in order to help the reader gain
knowledge about how the City's financial statistics relate to
the services the City provides.
Statistical Section
This part of the City of Moorpark CAFR presents detailed information regarding five categories: financial
trends, revenue capacity, debt capacity, demographic and economic information, and operating
information. These tables are presented as a context for understanding the City's overall financial health.
113
2009 2010 2011 2012 2013
Governmental activities:
Investment in capital assets 130,581,499$ 141,095,551$ 145,841,042$ 139,795,930$ 262,271,564$
Restricted 94,878,693 91,504,803 72,654,599 87,274,980 82,125,331
Unrestricted 14,213,503 15,828,208 13,402,969 7,909,301 10,042,168
Total governmental activities net position 239,673,695$ 248,428,562$ 231,898,610$ 234,980,211$ 354,439,063$
The City of Moorpark does not have any business-type activities.
Fiscal Year
CITY OF MOORPARK
Net Position by Component
Last Ten Fiscal Years
(Accrual basis of accounting)
114
2014 2015 2016 2017 2018
Governmental activities:
Investment in capital assets 259,798,991$ 260,051,061$ 259,824,449$ 265,474,327$ 262,137,083$
Restricted 86,007,374 89,502,603 94,421,242 91,919,782 66,958,288
Unrestricted 15,521,233 22,642,705 23,579,979 23,886,449 55,570,929
Total governmental activities net position 361,327,598$ 372,196,369$ 377,825,670$ 381,280,558$ 384,666,300$
Fiscal Year
CITY OF MOORPARK
Net Position by Component
Last Ten Fiscal Years
(Accrual basis of accounting)
115
2009 2010 2011 2012 2013
Expenditures:
General government 2,041,596$ 1,603,279$ 3,201,184$ 2,217,953$ 4,149,965$
Public safety 7,035,384 7,016,015 7,070,049 6,158,455 6,550,936
Public services 18,170,325 13,589,878 31,775,462 11,124,523 9,948,865
Parks and recreation 4,470,524 4,934,002 4,658,717 5,704,208 5,755,528
Interest on long-term debt 1,616,843 1,504,502 1,492,604 354,412 -
Total governmental activities expenses 33,334,672 28,647,676 48,198,016 25,559,551 26,405,294
Program revenues:
Charges for services:
General government 232,926 258,431 293,008 407,883 587,915
Public safety 538,636 477,305 492,847 445,642 809,257
Public services 3,172,708 2,769,641 2,473,770 1,988,453 4,154,598
Parks and recreation 644,979 643,593 697,787 858,333 973,761
Total charges for services 4,589,249 4,148,970 3,957,412 3,700,311 6,525,531
Operating contributions and grants 6,172,315 4,128,842 5,999,168 3,702,582 3,533,608
Capital contributions and grants 3,326,778 1,970,931 1,703,076 2,106,706 1,879,634
Total governmental activities
program revenues 14,088,342 10,248,743 11,659,656 9,509,599 11,938,773
Net program revenues (expenses)(19,246,330)(18,398,933)(36,538,360)(16,049,952)(14,466,521)
General revenues and other changes in net position:
Taxes:
Property tax 7,802,643 7,449,063 7,287,282 6,943,275 6,776,729
Property tax, Redevelopment Agency 7,054,432 6,864,777 6,755,960 3,389,064 -
Franchise tax 1,171,556 1,171,825 1,207,778 1,231,741 1,222,956
Sales tax 2,329,522 2,382,010 2,577,105 2,622,419 2,730,871
Sales tax in lieu 849,227 588,635 940,791 857,217 875,160
Motor vehicle in lieu 125,307 109,136 170,592 18,590 19,262
Investment income 2,875,649 853,074 856,413 1,206,622 142,222
Contributed Capital ---663,818 -
Other 386,040 283,372 212,487 245,235 299,730
Gain on sale of property -- --
Special item (1)-- --
County settlement 1,000,000 ---
---356,845 -
Total governmental activities 23,594,376 19,701,892 20,008,408 17,534,826 12,066,930
Changes in net position -
governmental activities 4,348,046$ 1,302,959$ (16,529,952)$ 1,484,874$ (2,399,591)$
(1) Mission Bell note
Extraordinary item - Gain on Dissolution of
RDA
Fiscal Year
CITY OF MOORPARK
Statement of Activities (Condensed)
Last Ten Fiscal Years
(Accrual basis of accounting)
116
2014 2015 2016 2017 2018
Expenditures:
General government 2,163,246$ 1,212,685$ 795,671$ 3,301,931$ 1,980,131$
Public safety 6,882,753 7,024,242 7,614,298 9,225,826 10,870,950
Public services 11,779,873 11,558,575 12,162,933 9,613,028 4,771,248
Parks and recreation 6,032,005 5,614,080 7,117,157 6,764,333 8,845,066
Streets and Roads 274,257 4,556,851
Interest on long-term debt ---23,347 21,385
Total governmental activities expenses 26,857,877 25,409,582 27,690,059 29,202,722 31,045,631
Program revenues:
Charges for services:
General government 1,474,249 1,463,859 685,537 960,934 1,144,176
Public safety 2,657,332 3,325,404 1,970,207 2,623,885 954,599
Public services 7,815,032 10,471,498 5,026,698 6,499,441 2,292,214
Parks and recreation 1,913,045 3,119,649 2,378,698 3,810,319 3,908,952
Streets and Roads ----1,014,544
Total charges for services 13,859,658 18,380,410 10,061,140 13,894,579 9,314,485
Operating contributions and grants 4,364,461 4,049,606 3,943,429 2,209,535 3,463,350
Capital contributions and grants 2,010,143 4,636,843 2,014,302 1,243,383 1,946,022
Total governmental activities
program revenues 20,234,262 27,066,859 16,018,871 17,347,497 14,723,857
Net program revenues (expenses)(6,623,615)1,657,277 (11,671,188)(11,855,225)(16,321,774)
General revenues and other changes in net position:
Taxes:
Property tax 6,841,765 7,638,300 7,923,937 9,332,969 9,545,738
Property tax, Redevelopment Agency - - - -
Franchise tax 1,222,759 1,284,268 1,276,932 1,559,634 1,249,789
Sales tax 2,695,884 2,749,320 3,316,402 3,854,408 4,291,309
Sales tax in lieu 1,089,362 896,527 730,083 - -
Motor vehicle in lieu 15,942 15,399 14,415 - -
Investment income 1,153,683 1,116,545 2,447,983 347,582 997,189
Contributed Capital - - - - -
Other 492,755 687,525 1,592,693 215,621 401,083
Gain on sale of property - - - - -
Special item (1)- - - - -
County settlement - - - - -
-----
Total governmental activities 13,512,150 14,387,884 17,302,445 15,310,214 16,485,108
Changes in net position -
governmental activities 6,888,535$ 16,045,161$ 5,631,257$ 3,454,989$ 163,334$
Extraordinary item - Gain on Dissolution of
RDA
CITY OF MOORPARK
Statement of Activities (Condensed)
Last Ten Fiscal Years
(Accrual basis of accounting)
117
2009 2010 2011 2012 2013
General fund:
Reserved 373,209$ 337,286$ -$ -$ -$
Unreserved 2,832,620 2,662,713 ---
Nonspendable --220,976 1,275,022 635,176
Restricted -----
Committed -----
Assigned -----
Unassigned --2,779,024 2,999,000 3,000,000
Total general fund 3,205,829$ 2,999,999$ 3,000,000$ 4,274,022$ 3,635,176$
All other governmental funds:
Reserved 33,719,016$ 38,208,807$ -$ -$ -$
Unreserved, reported in:
Special revenue funds 37,278,628 32,207,690 ---
Capital projects funds 35,699,829 33,735,939 ---
Debt Service funds 261,336 294,202 ---
Non-major funds 25,043,397 25,335,288 ---
Fund Balances:
Nonspendable -- 14,862,594 3,055,064 10,478,901
Restricted -- 66,565,551 55,945,095 44,067,428
Committed -- 795,208 783,281 742,546
Assigned -- 28,849,138 30,892,276 33,084,456
Unassigned --(2,124,660)(2,047,164)(2,026,212)
Total all other governmental funds 132,002,206$ 129,781,926$108,947,831$88,628,552$ 86,347,119$
Fiscal Year
CITY OF MOORPARK
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
118
2014 2015 2016 2017 2018
General fund:
Reserved -$ -$ -$ -$ -$
Unreserved -----
Nonspendable 635,899 660,077 154,863 158,857 70,741
Restricted -----
Committed -----
Assigned -----
Emergency contingency reserve ---- 3,429,259
Unassigned 3,000,000 2,999,941 2,865,439 3,011,336 999,726
Total general fund 3,635,899$ 3,660,018$3,020,302$ 3,170,193$4,499,726$
All other governmental funds:
Reserved -$ -$ -$ -$ -$
Unreserved, reported in:
Special revenue funds - - - - -
Capital projects funds - - - - -
Debt Service funds - - - - -
Non-major funds - - - - -
Fund Balances:
Nonspendable 10,253,789 10,363,316 9,017,847 158,857 5,711
Restricted 49,389,385 54,572,775 57,941,616 61,977,366 61,173,545
Committed 698,395 711,399 736,185 847,588 888,556
Assigned 36,190,577 42,221,565 47,613,826 50,386,413 49,480,362
Unassigned (1,825,187)(1,604,570)(1,503,658)1,797,897 (1,158,870)
Total all other governmental funds 94,706,959$ 106,264,485$ 113,805,816$115,168,121$ 110,389,304$
CITY OF MOORPARK
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
119
2009 2010 2011 2012 2013
Revenues:
Taxes 19,716,636$ 18,730,771$ 19,042,900$ 16,147,175$ 12,662,488$
Licenses and permits 645,010 598,370 587,186 561,530 498,102
Fines and forfeitures 484,930 436,377 441,543 446,426 420,555
Uses of money and property 3,114,881 1,547,229 1,537,255 1,381,235 482,129
Charges for services 3,813,159 3,284,275 2,579,593 3,559,454 5,170,238
Intergovernmental 3,948,059 2,629,132 4,786,235 1,627,462 2,503,734
Maintenance assessments 3,491,975 1,950,431 2,112,992 2,114,957 1,893,699
Franchise fees -----
Building and safety fees -----
Planning and public work fees -----
Development fees -----
Contributions from prop owners -----
Other 398,539 587,832 833,082 1,345,246 167,784
Total revenues 35,613,189 29,764,417 31,920,786 27,183,485 23,798,729
Expenditures:
Current:
General government 1,926,283 1,497,916 2,289,299 890,396 2,125,004
Public safety 6,814,425 6,769,484 6,839,355 6,467,065 6,306,906
Public services 11,259,297 12,343,896 12,876,132 8,321,090 7,391,632
Parks and recreation 4,182,091 4,453,400 4,074,490 5,038,957 5,086,773
Streets and Roads ----
Capital outlay 8,100,604 5,548,179 24,506,524 4,679,053 5,144,756
Debt service:
Principal 475,000 495,000 1,874,064 590,122 -
Interest 1,594,062 1,482,799 1,471,516 688,825 -
Bond issuance costs -----
Total expenditures 34,351,762 32,590,674 53,931,380 26,675,508 26,055,071
Excess of revenues over
expenditures 1,261,427 (2,826,257)(22,010,594)507,977 (2,256,342)
Other financing sources (uses):
Gain from sale of property -----
Bond Proceeds -----
Discount on Bonds -----
County settlements 1,000,000 ----
Transfers in 17,062,650 9,378,101 3,820,738 4,739,189 3,262,665
Transfers out (17,062,650)(9,378,101)(2,644,238)(4,739,189)(3,262,665)
Total other financing
sources (uses) 1,000,000 -1,176,500 --
Extraordinary Item ---(19,553,234)-
Net change in fund balances 2,261,427$(2,826,257)$ (20,834,094)$ (19,045,257)$ (2,256,342)$
Debt service as a percentage of
noncapital expenditures 8.6%7.9% 12.8%6.2%0.0%
Fiscal Year
CITY OF MOORPARK
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
120
2014 2015 2016 2017 2018
Revenues:
Taxes 12,931,981$ 13,688,319$ 14,417,009$ 14,816,810$ 15,086,836$
Licenses and permits 1,279,619 1,249,964 1,109,136 1,258,680 921,448
Fines and forfeitures 425,844 384,288 471,684 493,607 448,822
Uses of money and property 1,533,697 1,512,399 2,968,575 763,001 997,189
Charges for services 10,785,334 15,951,226 8,121,521 8,519,922 5,677,086
Intergovernmental 3,257,823 5,246,632 3,584,007 2,765,226 3,478,963
Maintenance assessments 2,159,121 2,487,047 2,737,711 3,015,980 2,453,264
Franchise fees -----
Building and safety fees -----
Planning and public work fees -----
Development fees -----
Contributions from prop owners -----
Other 438,612 445,197 1,443,805 774,632 4,246,036
Total revenues 32,812,031 40,965,072 34,853,448 32,407,858 33,309,644
Expenditures
Current:
General government 1,746,028 2,495,775 1,423,174 2,863,214 5,227,079
Public safety 6,643,550 6,789,765 6,999,561 8,496,995 8,924,343
Public services 9,126,851 10,468,227 9,254,464 6,852,118 5,526,289
Parks and recreation 5,360,424 5,732,314 6,089,350 5,711,596 9,348,196
Streets and Roads 259,546 3,647,853
Capital outlay 1,574,615 3,892,870 4,163,202 9,859,039 894,814
Debt service:
Principal - - - --
Interest -4,476 22,082 23,347 21,385
Bond issuance costs -----
Total expenditures 24,451,468 29,383,427 27,951,833 34,065,855 33,589,959
Excess of revenues over
expenditures 8,360,563 11,581,645 6,901,615 (1,657,997)(280,315)
Other financing sources (uses):
Gain from sale of property -----
Bond Proceeds -----
Discount on Bonds -----
County settlements -----
Transfers in 4,718,044 7,365,629 6,115,233 3,961,767 6,919,757
Transfers out (4,718,044)(7,365,629)(6,115,233)(3,961,767)(6,919,757)
Total other financing
sources (uses) -----
Extraordinary Item -----
Net change in fund balances 8,360,563$ 11,581,645$ 6,901,615$ (1,657,997)$(280,315)$
Debt service as a percentage of
noncapital expenditures 0.0%0.0%0.1%0.1%0.1%
CITY OF MOORPARK
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
121
Fiscal Year Taxable Taxable Total
Ended Less: Assessed Less: Assessed Direct Tax
June 30 Secured Unsecured Exemptions Value Secured Unsecured Exemptions Value Rate
2009 4,700,305,496 174,181,146 46,351,377 4,828,135,265 828,244,210 102,730,045 4,309,164 926,665,091 0.213%
2010 4,619,910,655 180,988,669 46,474,508 4,754,424,816 825,093,781 113,302,525 4,333,240 934,063,066 0.216%
2011 4,659,133,835 153,090,627 46,689,455 4,765,535,007 813,947,565 110,905,079 4,436,801 920,415,843 0.213%
2012 4,662,536,870 118,452,976 46,220,250 4,734,769,596 829,750,375 76,258,253 4,422,902 901,585,726 0.210%
2013 4,596,277,650 115,888,876 45,786,243 4,666,380,283 867,853,781 70,454,127 4,491,843 933,816,065 0.218%
2014 4,718,569,672 119,712,860 45,054,167 4,793,228,365 878,368,970 70,500,448 4,423,367 944,446,051 0.095%
2015 5,042,223,024 123,500,500 45,844,355 5,119,879,169 909,850,372 74,847,964 7,970,727 976,727,609 0.095%
2016 5,333,705,999 122,090,764 73,812,980 5,381,983,783 1,040,390,804 73,089,277 34,190,142 1,079,289,939 0.094%
2017 5,654,428,902 115,219,381 76,811,398 5,692,836,885 1,042,974,399 63,588,301 35,131,954 1,071,430,746 0.094%
2018 5,917,959,303 111,655,537 79,489,965 5,950,124,875 1,063,872,300 60,597,760 35,953,063 1,088,516,997 0.094%
Source: Ventura County Assessor's Office
CITY OF MOORPARK
City Successor Agency to the Redevelopment Agency
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
NOTE:
In 1978 the voters of the State of California passed Proposition 13 which limited property taxes to a total maximum rate of 1 % based upon the
assessed value of the property being taxed. Each year, the assessed value of property may be increased by an "inflation fact or"(limited to a
maximum increase of 2%). With few exceptions, property is only re-assessed at the time that it is sold to a new owner. At that point, the new
assessed value is reassessed at the purchase price of the property sold. The assessed valuation data shown above represents t he only data
currently available with respect to the actual market value of taxable property and is subject to the limitations described a bove.
122
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
1 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000
0.02500 0.02640 0.02850 0.03070 0.03240 0.03270 0.03290 0.03180 0.03200 0.02130
0.00430 0.00430 0.00370 0.00370 0.00350 0.00350 0.00350 0.00350 0.00350 0.00350
0.03510 0.03760 0.03980 0.05750 0.04490 0.03950 0.05550 0.06920 0.06540 0.06540
0.01520 0.01390 0.01510 0.01400 0.01910 0.01670 0.01760 0.01300 0.01550 0.01510
2 1.07960 1.08220 1.08710 1.10590 1.09990 1.09240 1.10950 1.11750 1.11640 1.10530
3 0.09094 0.09077 0.90770 0.09077 0.09078 0.09078 0.09078 0.09078 0.09078 0.09078
----------
4 1.00430 1.00430 1.00370 1.00370 - - - - - -
5 0.21254 0.21589 0.21304 0.21047 0.21806 0.09508 0.09498 0.09447 0.09422 0.09406
Notes
1
2
3
4
5
Source: HdL, Coren & Cone
Ventura County Assessor
Overlapping rates are those of local and county governments that apply to property owners within the City. Not all overlapping
rates apply to all city property owners.
City's share of 1% levy is based on the City's share of the general fund tax rate area with the larges net taxable value within the
city. ERAF general fund tax shifts may not be included in tax ratio figures.
Redevelopment rates is based on the largest RDA tax rate area and only includes rate(s) from indebtedness adopted prior to 1989
per California State statute. RDA direct and overlapping rates are applied only to the incremental property values. The approval
of Abx1 26 eliminated redevelopment from the State of California for the fiscal year 2012/13 and years thereafter.
Total Direct Rates is the weighted average of all individual direct rates applied to by the government preparing the statistical
section information and excludes revenues derived from aircraft. Beginning in 2013/14 the Total Direct Rate no longer includes
revenue generated from the former redevelopment tax rate areas. Challenges to recognized enforceable obligations are assumed
to have been resolved during 2012/13. For the purposed of this report, residual revenue is assumed to be distributed to the City in
the same proportions as general fund revenue.
General Obligation Debt
Rate
City's Share of 1% Levy
per Prop 13
Total Direct Rate
In 1978, California voters passed Proposition 13 which sets the property tax rate at a 1.00% fixed amount. This 1.00%
is shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount,
property owners are charged taxes as a percentage of assessed property values for the payment of any voter approved
bonds
CITY OF MOORPARK
Direct and Overlapping Property Tax Rates
(Rate per $100 of assessed value)
Last Ten Fiscal Years
Total Direct &
Overlapping Tax Rates
Conejo Valley Unified
School District
Moorpark Unified
School District
Ventura Community
College District
Basic Levy
Metropolitan Water District
Redevelopment Rate
123
Taxable City Taxable Taxable City Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value *Value Value Value
NF Moorpark Multifamily Assoc 89,474,295$ 1.50 %
Waterstone Properties Moorpark LLC 74,105,501 1.25 % 65,825,559$ 1.34 %
DBRE Moorpark LLC 68,371,546 1.39 %
Autosafe Airbag 12 California 65,805,888 1.34 %
Moorpark Center LLC 48,052,379 0.81 %
Mission Bell Plaza West LLC 36,238,100 0.61 %
KB Home Greater LA Inc 43,483,490 0.88 %
Moopark Marketplace LLC 39,238,074 0.80 %
ROIC California 32,215,891 0.54 %
Village at Moorpark LLC 30,132,290 0.51 % 26,132,960 0.53 %
Kavlico Corporation 29,200,700 0.59 %
Ensign-Bickford Aerospace 29,096,731 0.49 %
Advenchen Laboratories LLC 25,432,578 0.52 %
Milan Tuscany LLC 21,567,354 0.36 %
G & Y Moorpark LLC 21,041,500 0.35 % 25,183,900 0.51 %
J Won Corporation 22,838,596 0.46 %
Moorpark Condor Properties 19,931,856 0.33 %
401,855,897$ 6.75 %411,513,291$ 8.36 %
* Due to varying tax rates, the assessed value does not necessarily mean the highest tax.
The assessed value includes secured property tax revenue.
Source: HdL Coren & Cone
Percent of Total Percent of Total
CITY OF MOORPARK
2017-18 2008-09
Current Year and Nine Years Ago
Principal Property Tax Payers
124
Collections
Fiscal Taxes Levied from
Year Ended for the Percent Previous Percent
June 30 Fiscal Year Amount of Levy Years Amount of Levy
2009 3,763,078 3,393,932 90.2 %208,491 3,602,423 95.7 %
2010 3,682,559 2,789,672 75.8 %262,057 3,051,729 82.9 %
2011 3,663,098 3,388,402 92.5 %184,044 3,572,446 97.5 %
2012 3,638,780 3,394,794 93.3 %162,584 3,557,378 97.8 %
2013 3,724,968 3,533,421 94.9 %158,049 3,691,470 99.1 %
2014 3,817,587 3,545,339 92.9 %125,651 3,670,990 96.2 %
2015 4,186,012 3,965,562 94.7 %127,695 4,093,257 97.8 %
2016 4,253,351 4,046,844 95.1 %105,932 4,152,776 97.6 %
2017 4,524,624 4,192,728 92.7 %133,274 4,326,002 95.6 %
2018 4,744,536 4,493,283 94.7 %191,146 4,684,429 98.7 %
Source: Ventura County Auditor Controller's Office Levy Letter
Collected within the
Fiscal Year of Levy Total Collections
CITY OF MOORPARK
Secured Property Tax Levies and Collections
Last Ten Fiscal Years
NOTE:
The amount presented includes City property taxes only.
It does not include redevelopment tax increment.
125
2017-18 2008-09
76 Albertsons
Campus Plaza Shell Dick's Sporting Goods
Command Performance Catering Fitzpatrick Dental Equipment
Dick's Sporting Goods Kahoots Pet Store
In N Out Burgers Kohls
Kohls McDonalds
McDonalds Michaels Arts & Crafts
Michaels Arts & Crafts Moorpark 76
Moorpark 76 Moorpark Auto Spa & Lube
Moorpark Chevron Moorpark Chevron
Moorpark Petroleum Moorpark College Bookstore
National Ready Mixed Concrete Moorpark Petroleum
Pentair Pool Products Moorpark Shell
Ralphs National Ready Mixed Concrete
Simi Valley Harley Davidson Ralphs
Target Regenesis Power
Tesoro Refining & Marketing Simi Valley Harley Davidson
Testequity Staples
TJ Maxx Target
Tom Lindstrom RV TJ Maxx
Tractor Supply USA Gas
Vons Vons
Warehouse Discount Center Warehouse Discount Center
Western Refining Retail Wood Ranch BBQ Grill
Wood Ranch BBQ Grill XP Systems
Sources:HdL Companies
CITY OF MOORPARK
Principal Sales Tax Remitters
Current Year and Nine Years Ago
Listed Alphabetically
126
Fiscal Year General Tax Total Total Percentage Debt
Ended Obligation Allocation Governmental Primary of Personal Per
June 30 Bonds Bonds 1 Activities Government Income 2 Capita 2
2009 - 29,185,000 29,185,000 29,185,000 2%797
2010 - 28,710,000 28,710,000 28,710,000 2%775
2011 - 28,155,000 28,155,000 28,155,000 2%749
2012 ----0%-
2013 ----0%-
2014 ----0%-
2015 ----0%-
2016 ----0%-
2017 ----0%-
2018 ----0%-
Notes: Details regarding the City's outstanding debt can be found in the notes to the
financial statements.
1 The Moorpark Redevelopment Agency issued $9,860,000 of new tax allocation bonds in 1999,
$11,625,000 in 2001, and $11,695,000 in 2006.
Tax Allocation Bonds are the debt of the Successor Agency and not a part of the City.
Please read NOTE 14, pages 62-65.
2 These ratios are calculated using personal income and population for the prior calendar year.
Governmental Activities
CITY OF MOORPARK
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
127
Fiscal Year General Tax Percent of
Ended Obligation Allocation Assessed Per
June 30 Bonds Bonds 1 Total Value 2 Capita
2009 - 29,185,000 29,185,000 0.5 %797
2010 - 28,710,000 28,710,000 0.5 %775
2011 - 28,155,000 28,155,000 0.5 %749
2012 - - - - % -
2013 - - - - % -
2014 - - - - % -
2015 - - - - % -
2016 - - - - % -
2017 - - - - % -
2018 - - - - % -
General bonded debt is debt payable with governmental fund resources and general
obligation bonds recorded in enterprise funds (of which, the City has none).
1 Tax Allocation Bonds are the debt of the Successor Agency and not a part of the City.
Please read NOTE 14, pages 62-65.
2 Assessed value has been used because the actual value of taxable property is not
readily available in the State of California.
Outstanding General Bonded Debt
CITY OF MOORPARK
Ratio of General Bonded Debt Outstanding
Last Ten Fiscal Years
128
City Assessed Valuation 2017-18 5,950,124,875$
Redevelopment Agency Incremental Valuation 1,088,516,997
Adjusted Assessed Valuation 4,861,607,878$
Estimated
Share of
Percentage Debt as of Overlapping
Applicable 6/30/2018 Debt
Direct and Overlapping Tax and Assessment Debt:
Metropolitan Water District 0.217 % 60,600,000$ 131,502$
Ventura Community College District 4.606 %283,365,436 13,051,812
Conejo Valley Unified School District 0.015 % 101,689,279 15,253
Moorpark Unified School District 93.622 % 50,923,867 47,675,943
City of Moorpark 100.000 % - -
City of Moorpark Community Facilities District No. 97-1 100.000 % 3,980,000 3,980,000
City of Moorpark Community Facilities District No. 2004-1 100.000 % 8,985,000 8,985,000
City of Moorpark 1915 Act Bonds 100.000 %680,000 680,000
Total Direct and Overlapping Tax & Assessment Debt 510,223,582$ 74,519,510$
Overlapping General Fund Obligation Debt:
Ventura County General Fund Obligations 4.605 % 336,025,000$ 15,473,951$
Ventura County Superintendent of Schools COPs 4.605 % 9,635,000 443,692
Moorpark Unified School District COPs 93.622 % 4,001,356 3,746,150
Total Overlapping General Fund Obligation Debt 349,661,356$ 19,663,793$
Overlapping Tax Increment Debt (Successor Agency): 100.000 % 21,585,000$ 21,585,000$
Total Direct Debt -$
Combined Total Debt*881,469,938$ 115,768,303$
Total direct and overlapping debt 115,768,303$
Notes:
* Excludes tax and revenue anticipation notes, revenue bonds, mortgage revenue bonds and tax allocation bonds
and non-bonded capital lease obligations; of which the City has none.
The direct and overlapping bonded debt above is not the City's obligation
Source: California Municipal Statistics, Inc. The overlapping district's assessed valuation located within the City is
divided by the total assessed valuation of the overlapping district. That percentage is multiplied by the total debt
outstanding for the overlapping district resulting in the City's share of debt.
CITY OF MOORPARK
Direct and Overlapping Debt
129
2009 2010 2011 2012 2013
Assessed valuation 4,700,305,496$ 4,619,910,655$ 4,659,133,835$ 4,662,536,870$ 4,596,277,650$
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation 1,175,076,374 1,154,977,664 1,164,783,459 1,165,634,218 1,149,069,413
Debt limit percentage 15%15%15%15%15%
Debt limit 176,261,456 173,246,650 174,717,519 174,845,133 172,360,412
- - - - -
Legal debt margin 176,261,456$ 173,246,650$ 174,717,519$ 174,845,133$ 172,360,412$
Total debt applicable to the limit
as a percentage of debt limit 0.0% 0.0% 0.0% 0.0% 0.0%
The Government Code 2227 of the State of California provides for a legal debt limit of 15% of gross assessed valuation.
However, this provision was enacted when assessed valuation was based upon 25% of market value. Effective with the
81-82 fiscal year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for
that parcel). The computations shown above reflect a conversion of assessed valuation date for each fiscal year from
the current full valuation perspective to the 25% level that was in effect at the time that the legal debt margin was enacted
by the State of California for local governments located within the state.
Total net debt applicable to limit:
General Obligation Bonds
CITY OF MOORPARK
Legal Debt Margin Information
Last Ten Fiscal Years
130
2014 2015 2016 2017 2018
Assessed valuation 4,718,569,672$ 5,042,223,024$ 5,333,705,999$ 5,654,428,902$ 5,917,959,303$
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation 1,179,642,418 1,260,555,756 1,333,426,500 1,413,607,226 1,479,489,826
Debt limit percentage 15%15%15%15%15%
Debt limit 176,946,363 189,083,363 200,013,975 212,041,084 221,923,474
- - - - -
Legal debt margin 176,946,363$ 189,083,363$ 200,013,975$ 212,041,084$ 221,923,474$
Total debt applicable to the limit
as a percentage of debt limit 0.0% 0.0% 0.0% 0.0% 0.0%
Total net debt applicable to limit:
General Obligation Bonds
CITY OF MOORPARK
Legal Debt Margin Information
Last Ten Fiscal Years
131
Fiscal Year
Ended Tax
June 30 Increment Principal Interest Coverage
2009 7,010,760 475,000 1,397,922 3.74
2010 6,842,837 495,000 1,376,088 3.66
2011 6,716,136 555,000 1,350,874 3.52
2012 - - - n/a
2013 - - - n/a
2014 - - - n/a
2015 - - - n/a
2016 - - - n/a
2017 - - - n/a
2018 - - - n/a
Note
The Moorpark Redevelopment Agency issued $9,860,000 of tax allocation bonds in 1999,
$11,625,000 in 2001, and $11,695,000 in 2006.
Tax Allocation Bonds are the debt of the Successor Agency and not a part of the City.
Please read NOTE 14, pages 62-65.
Tax Allocation Bonds
Debt Service
CITY OF MOORPARK
Pledged-Revenue Coverage
Last Ten Fiscal Years
132
Personal Per Capita
Calendar Income Personal Unemployment Median % of Pop. 25+ % of Pop. 25+
Year Population (in thousands) Income Rate Age H.S. Diploma Bachelors Degree
2008 36,617 $ 1,173,314 $ 32,043 5.8 %---
2009 37,051 $ 1,155,103 $ 31,176 9.4 %33.2 84.6 %34.5 %
2010 37,576 $ 1,293,178 $ 34,415 10.1 % 35.0 85.6 %35.7 %
2011 34,826 $ 1,254,955 $ 36,035 9.4 %34.9 86.6 %37.5 %
2012 34,904 $ 1,240,383 $ 35,537 6.5 %36.0 86.3 %37.6 %
2013 35,172 $ 1,227,608 $ 34,903 5.7 %35.4 88.9 %38.0 %
2014 35,158 $ 1,222,514 $ 34,772 5.2 %36.1 87.9 %37.4 %
2015 36,715 $ 1,296,799 $ 35,320 4.4 %36.5 88.5 %37.3 %
2016 36,828 $ 1,325,175 $ 35,982 4.0 %36.9 87.6 %37.9 %
2017 37,044 $ 1,396,965 $ 37,710 3.9 %37.1 88.4 %39..7%
Sources: California State Department of Finance
California Emplyment Development Department
CITY OF MOORPARK
Demographic and Economic Statistics
Last Ten Calendar Years
133
Percent of Percent of
Number of Total Number of Total
EMPLOYER Employees Employment Employees Employment
Pennymac 881 4.9 %- -
Moorpark Unified School District 723 4.0 %871 4.9 %
Moorpark College 666 3.7 %315 1.8 %
Pentair Water Pool & Spa 530 3.0 %527 3.0 %
Benchmark Electronics Manufacturing Solutions 320 1.8 %- -
Target Stores 154 0.9 %150 0.8 %
Abbyson Living 144 0.8 %- -
Ensign-Bickford Aerospace & Defense Company 136 0.8 %- -
Test Equity LLC 121 0.7 %- -
Picnic Time, Inc.120 0.7 %- -
Kavlico - -1,200 6.8 %
Waterpik Technology (Teledyne)- -451 2.5 %
SMTEK International - -220 1.2 %
Special Devices Inc.- -190 1.1 %
Axius/Auto Shade - -150 0.8 %
Boething Tree Farm - -145 0.8 %
Source: City of Moorpark, Community Development Department
"Total Employment" as used above represents the total employment of all employers located within City limits.
2017-18 2008-09
CITY OF MOORPARK
Principal Employers
Current Year and Nine Years Ago
134
Function 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
General government 26 26 27 28 27 27 26 25 31 26
Public safety (crossing guards)6553333222
Public services 22 20 16 18 19 19 22 19 17 16
Parks and recreation 56 55 54 51 58 75 70 57 74 78
Total 110 106 102 100 107 124 121 103 124 122
Public safety 1 38 38 40 39 40 40 40 40 40 40
1 Police and fire services were provided by the County.
Fire = 18 and police = 22
Source: City of Moorpark, Finance department
CITY OF MOORPARK
Full-time and Part-time City Employees
by Function
Last Ten Fiscal Years
135
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Police: (A)
Arrests 1,412 2,207 1,266 1,158 1,120 1,148 938 966 1,139 1,531
Parking citations issued 3,254 4,969 4,887 5,704 5,129 2,736 3,117 4,582 5,841 6,419
Fire: (B)
Number of "prime" emergency calls 1,100 1,945 1,707 2,174 1,851 1,835 1,996 2,026 2,107 2,145
Business Inspections*143 115 196 196 132 500 694 727 443 390
Public works: (C)
Street resurfacing (miles)- 5.0 2.0 - 4.5 - - - - 0.7
Parks and recreation: (D)
Number of recreation classes 265 419 325 308 300 265 303 295 314 396
Number of facility rentals 186 230 277 118 226 103 248 287 405 301
Prime calls and business inspections are for County of Ventura, Fire department station #42
* In November 2001, all business occupancies less than 10,000 sq. feet became eligible for self inspection program.
Source: City of Moorpark
(A) Provided by Moorpark Police Department.;
(B) Ventura County Fire Dept.;
(C) Moorpark Public Works Dept.; - every six years, the City plans to resurface its streets, 1/3 every other year (total street miles = 220)
(D) Arroyo Vista Recreation Dept.;
Active Adult Center.
CITY OF MOORPARK
Operating Indicators
by Function
Last Ten Fiscal Years
136
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Police:
Stations 1 1 1 1 1 1 1 1 1 1
Fire:
Fire stations 2 2 2 2 2 2 2 2 2 2
Public works:
Streets (miles) 79 79 79 79 79 79 79 79 79 79
Streetlights 2,518 2,518 2,620 2,620 2,620 2,620 2,620 2,620 2,620 2,620
Traffic signals 20 20 21 21 21 21 21 22 22 22
Parks and recreation:
Parks 1718 1818181819 191919
Community centers 2 2 2 2 2 2 2 2 2 2
Source: City of Moorpark
Of the streetlights, 2,612 are owned by Edison and 8 are owned by the City
CITY OF MOORPARK
Capital Asset Statistics
by Function
Last Ten Fiscal Years
137