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CITY OF MOORPARK
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Fiscal Year Ended June 30, 2019
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CITY OF MOORPARK, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2019
TABLE OF CONTENTS
Page
Number
INTRODUCTORY SECTION
Letter of Transmittal .............................................................................................................................. i
City Officials ........................................................................................................................................ ix
Organization Chart ............................................................................................................................... x
GFOA Certificate of Achievement for Excellence in Financial Reporting ........................................... xi
FINANCIAL SECTION
INDEPENDENT AUDITORS’ REPORT .............................................................................................. 1
MANAGEMENT'S DISCUSSION AND ANALYSIS ............................................................................ 5
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements:
Statement of Net Position .................................................................................................... 19
Statement of Activities .......................................................................................................... 21
Fund Financial Statements:
Balance Sheet - Governmental Funds ................................................................................. 22
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Position .......................................................................................... 25
Statement of Revenues, Expenditures and Changes in Fund
Balances - Governmental Funds ......................................................................................... 26
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities .......................................................................................................... 29
Statement of Fiduciary Net Position - Fiduciary Funds ........................................................ 30
Statement of Changes in Fiduciary Net Position - Fiduciary Funds .................................... 31
Notes to Financial Statements .................................................................................................... 35
CITY OF MOORPARK, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2019
TABLE OF CONTENTS
Page
Number
REQUIRED SUPPLEMENTARY INFORMATION
Budgetary Comparison Information:
Budgetary Comparison Schedule – General Fund .............................................................. 75
Budgetary Comparison Schedule – Street and Traffic Safety Fund .................................... 77
Budgetary Comparison Schedule – Assessment Districts Fund ......................................... 78
Budgetary Comparison Schedule – Low-Mod Income Housing Asset Fund ....................... 79
Pension Information:
Schedule of Proportionate Share of the Net Pension Liability (Asset) ................................ 80
Schedule of Plan Contributions ............................................................................................ 81
Other Post-Employment Benefits Information:
Schedule of Changes in the Net OPEB Asset and Related Ratios ..................................... 82
Schedule of Plan Contributions ............................................................................................ 83
Notes to Required Supplementary Information .......................................................................... 85
COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES
Combining Balance Sheet - Nonmajor Governmental Funds .................................................... 87
Combining Statement of Revenues, Expenditures and Changes
in Fund Balances - Nonmajor Governmental Funds .................................................................. 93
Budgetary Comparison Schedules (Budgetary Basis) - Special Revenue Funds:
Parks/Public Facilities Fund ................................................................................................. 99
Community Development Fund ......................................................................................... 100
Endowment Fund ............................................................................................................... 101
Library Services Fund ........................................................................................................ 102
Traffic Safety Fund ............................................................................................................. 103
City Affordable Housing Fund ............................................................................................ 104
Casey/Gabbert Road A.O.C. Fund .................................................................................... 105
Los Angeles A.O.C. Fund .................................................................................................. 106
Fremont Storm Drain A.O.C. Fund .................................................................................... 107
State Gas Tax Fund ........................................................................................................... 108
Art in Public Places Fund ................................................................................................... 109
State and Federal Assistance Fund ................................................................................... 110
Local Transportation Transit Fund ..................................................................................... 111
Prop 1B Local Streets and Roads Fund ............................................................................ 112
Solid Waste Fund ............................................................................................................... 113
Budgetary Comparison Schedules (Budgetary Basis) - Capital Project Funds:
Police Facilities Fee Fund .................................................................................................. 114
Special Projects Fund ........................................................................................................ 115
Capital Projects Fund ......................................................................................................... 116
City Hall Building Fund ....................................................................................................... 117
Equipment Replacement Fund .......................................................................................... 118
PEG Capital Fund .............................................................................................................. 119
CITY OF MOORPARK, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2019
TABLE OF CONTENTS
Page
Number
Combining Statement of Fiduciary Net Position – Agency Funds .................................................. 120
Statement of Changes in Assets and Liabilities -Agency Funds .............................................. 121
STATISTICAL SECTION
Financial Trends:
Net Position by Component - Last Ten Fiscal Years ......................................................... 122
Statement of Activities (Condensed) - Last Ten Fiscal Years ........................................... 124
Fund Balances of Governmental Funds - Last Ten Fiscal Years ...................................... 126
Changes in Fund Balances of Governmental Funds -
Last Ten Fiscal Years ........................................................................................................ 128
Revenue Capacity:
Assessed Value and Estimated Actual Value of Taxable Property -
Last Ten Fiscal Years .................................................................................................. 130
Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years ................................ 131
Principal Property Taxpayers - Current Year and Nine Years Ago ................................... 132
Property Tax Levies and Collections - Last Ten Fiscal Years ........................................... 133
Principal Sales Tax Remitters - Current Year and Nine Years Ago .................................. 134
Debt Capacity:
Ratios of Outstanding Debt by Type - Last Ten Fiscal Years ............................................ 135
Ratios of General Bonded Debt Outstanding - Last Ten Fiscal Years .............................. 136
Direct and Overlapping Debt .............................................................................................. 137
Legal Debt Margin Information - Last Ten Fiscal Years .................................................... 138
Pledged-Revenue Coverage - Last Ten Fiscal Years ....................................................... 140
Demographic and Economic Information:
Demographic and Economic Statistics - Last Ten Calendar Years ................................... 141
Principal Employers - Current Year and Nine Years Ago .................................................. 142
Operating Information:
Full-Time and Part-Time City Employees by Function - Last Ten Fiscal Years ................ 143
Operating Indicators by Function - Last Ten Fiscal Years ................................................. 144
Capital Asset Statistics by Function - Last Ten Fiscal Years ............................................. 145
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INTRODUCTORY SECTION
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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
December 11, 2019
Honorable Mayor, Members of the City Council and Citizens of Moorpark:
We are pleased to present this Comprehensive Annual Financial Report (CAFR) of the
City of Moorpark, California (City) for the fiscal year ended June 30, 2019. This report,
which includes basic financial statements, was prepared in conformity with Generally
Accepted Accounting Principles (GAAP) as promulgated by the Governmental
Accounting Standards Board (GASB.)
Management assumes full responsibility for the completeness and reliability of the
information contained in this report, based upon a comprehensive framework of internal
control that it has established for this purpose. Because the cost of internal control
should not exceed anticipated benefits, the objective is to provide reasonable, rather
than absolute, assurance that the financial statements are free of any material
misstatements.
Lance, Soll & Lunghard, a firm of licensed certified public accountants, has audited the
City’s financial statements. The goal of an independent audit was to provide reasonable
assurance the City’s financial statements for the fiscal year ended June 30, 2019 are
free of material misstatement. The independent auditor concluded it was reasonable to
issue an unmodified opinion on the City’s financial statements for the year ended June
30, 2019. The independent auditor’s report is located at the front of the financial section
of this report.
Management’s discussion and analysis (MD&A) immediately follows the independent
auditor’s report and provides a narrative introduction, overview and analysis of the basic
financial statements. MD&A complements this letter of transmittal and should be read in
conjunction with it.
PROFILE OF THE CITY OF MOORPARK
The City of Moorpark, incorporated in 1983, is located in southeastern part of Ventura
County, approximately 50 miles northwest of Los Angeles. Moorpark is one of the first
cities to run off commercial nuclear power in the entire world. The City is also
recognized for having the lowest number of serious crimes committed in Ventura
County and is among the safest cities of its size in the United States. It currently
occupies 12.80 square miles and serves a population of approximately 37,020 (source:
California Department of Finance.)
The City operates under Council-Manager form of government. The Mayor is elected
at-large to serve a two-year term. The four Councilmembers are elected at large to
serve in staggered four-year terms. On April 3, 2019, the City transitioned to a district-
based election system, to be effective beginning for the November 2020 election. The
City Council’s primary responsibilities are adopting ordinances, adopting the budget,
and setting policy for the City. The City Council appoints the City’s manager, who in
turn appoints its department heads.
The City provides a wide
range of municipal
services to its residents
with a total regular full-
time staff of
approximately 51 and
part-time staff of
approximately 34
employees. Major
services such as police
(contracted with Ventura
County Sheriff), attorney,
library, development
engineering and
inspection, building and
safety plan
check/inspection, transit, street sweeping and landscape maintenance are provided
through contractual arrangements. In addition, fire protection is provided by the Ventura
County Fire District. The City provides services such as emergency management,
affordable housing, economic development, planning, code compliance, recreation
programs, vector/animal control, park and facilities maintenance, street maintenance,
city engineering, crossing guard and administrative management services with city
employees.
THE REPORTING ENTITY AND ITS SERVICES
The financial reporting entity includes all the funds of the City as well as all of its
component units. The City is the primary government. The component units are the
Moorpark Public Financing Authority (Authority) and the Moorpark Industrial
Development Authority (IDA).
The City was incorporated in 1983 as a general law city and operates under a Council-
Manager form of government.
The Authority was formed in 1993 as a joint powers authority between the City and the
Redevelopment Agency of the City of Moorpark (Agency). The Agency is now
dissolved, but the Authority still continues to exist. The Authority provides financial
assistance to the City by issuing debt and financing the construction of public facilities.
The IDA of the City was formed in 1985 pursuant to the California Industrial
Development Financing Act (the “Act”). Its purpose is to finance the acquisition and
development of certain industrial activities as permitted by the Act and to issue bonds
for the purpose of enabling industrial firms to finance the cost of such activities.
Council District Map - Effective: 4/3/2019
ii
SUCCESSOR AGENCY to the REDEVELOPMENT AGENCY of the CITY of
MOORPARK (SUCCESSOR AGENCY)
The Agency was formed in 1987 with the objective of providing long-term financing of
capital improvements designed to eliminate physical and economic blight in the
designated project area. On December 29, 2011, the California Supreme Court upheld
Assembly Bill 1x 26 (“the Bill”) that provides for the dissolution of all redevelopment
agencies in the State of California. The Bill provides that upon dissolution of a
redevelopment agency, the entity that established the redevelopment agency may elect
to serve as the “Successor Agency”. The Successor Agency holds the assets of the
former redevelopment agency until they are distributed to other units of state and local
government after the payment of enforceable obligations that were in effect as of the
signing of the Bill. On January 4, 2012, the City elected to become the Successor
Agency. On February 1, 2012, the Agency was dissolved and the Successor Agency to
the Redevelopment Agency of the City of Moorpark (Successor Agency) was created.
The Successor Agency is included as a fiduciary fund (private purpose trust fund).
BUDGETARY CONTROL
The City prepares an annual budget consistent with Generally Accepted Accounting
Principles (GAAP) for all governmental funds on a modified accrual basis where
revenues are recognized when they become measurable and available to finance
expenditures of the current period. Expenditures are recorded when the goods or
services are received and the liabilities are incurred. The level of budgetary control is at
the overall fund level (i.e. the level at which expenditures cannot legally exceed
appropriated amount).
Department directors are responsible, not only to accomplish his/her particular goals
within each program, but also to monitor budget allocations consistent to the funding
levels adopted by the City Council prior to July 1 of the budget year.
In addition, the City maintains budgetary control through the use of an encumbrance
accounting system. As purchase orders are issued, corresponding amounts are
encumbered for later payments to ensure that budget amounts are not over-spent.
APPROPRIATION LIMIT
Article XIIIB of the California Constitution (Proposition 4), commonly referred to as the
“Gann Initiative” was approved by California voters in 1979, which placed limits on the
amount of proceeds of taxes that State and Local agencies can appropriate and spend
each fiscal year. In addition, voters approved Proposition 111 in 1990 to further
increase the accountability of local government in adopting their limits by requiring the
governing body to annually adopt, by resolution, an appropriation limit for the upcoming
fiscal year. The appropriation limit and the City’s appropriations subject to the limit for
fiscal year 2018-2019 amounted to $39,092,292 and $16,756,236 respectively.
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$7.4
$11.2
$3.1
$0.8
$86.0
$3.1
$10.2
$1.6
Portfolio (in millions)
June 30, 2019
Money Market
Certificates of Deposit
Corporate Notes
U.S. Treasury Notes
U.S. Agency Securities
Local Agency Investment
FundVentura County Pool
Demand Deposit
CASH MANAGEMENT
The City Treasurer is responsible for investing cash temporarily idle during the year in
accordance with the State Government Code and the Investment Policy adopted by the
City Council. The City diversified its investment portfolio by utilizing several investment
instruments.
The cash management
system of the City is
designed to monitor
revenues and
expenditures to ensure
the investment of monies
to the fullest extent
possible. The criteria for
selecting investments
and the order of priority
are: (a) safety, (b)
liquidity, and (c) yield.
The underlying objective
of the City’s policy is to
obtain the highest
interest rate yields, and
at the same time, ensure
that money is available when needed and all deposits are insured by the Federal
Deposit Insurance Corporation or collateralized.
OTHER ASSETS (OPEB)
The City participates in the California Employers’ Retiree Benefit Trust (CERBT)
administered by CalPERS to provide post-employment medical insurance to City
retirees. The City accounts for this asset, per GASB 75, Other Post-Employment
Benefits (OPEB). This is the second year the City is implementing GASB 75. The
actuarial valuation was performed on June 30, 2019, and shows the OPEB asset is
119% funded. The City has a “Net OPEB Asset” of $362,122 on the Statement of Net
Position. Please read Note 9 OTHER POST-EMPLOYMENT BENEFITS.
CAPITAL ASSETS
In accordance with GASB Statement No. 34, the City has reported all capital assets
including infrastructure in the Government-Wide Statement of Net Assets. The City
elected to use the basic approach for all infrastructures reporting, whereby depreciation
expense and accumulated depreciation have been recorded. Capital assets for the
fiscal year ending June 30, 2019 have a net ending balance of $260 million.
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EMPLOYEE COMPENSATED ABSENCES/BONDED INDEBTEDNESS
At June 30, 2019, the City has no outstanding bonds or other debt but does have a
liability in the amount of $536,662 for employee compensated absences (accrued
leave.) Please read Note 7 EMPLOYEE COMPENSATED ABSENCES for further
discussion.
The Successor Agency has the 2014 Tax Allocation Refunding Bonds (2014 Bonds)
and the 2016 Tax Allocation Refunding Bonds (2016 Bonds). The Agency spent the
bond proceeds constructing the Rueben Castro Human Services Building and Walnut
Acres Park. The 2014 Bonds and 2016 Bonds outstanding principal as of June 30,
2019 were $10.4 million and $10.3 million, respectively. In November 2014, the
Successor Agency issued the 2014 Bonds to refund the 1999 Tax Allocation Refunding
Bonds and the 2001 Tax Allocation Bonds. In July 2016, the Successor Agency issued
the 2016 Bonds to refund the 2006 Tax Allocation Bonds. Please read Note 14
SUCCESSOR AGENCY PRIVATE-PURPOSE TRUST FUND TO THE FORMER
REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK (SARA).
RISK MANAGEMENT
The City is a member of the California Joint Powers Insurance Authority (CJPIA)
established under the provisions of California Government Code 6500 et seq.,
consisting of over 100 California public entities. The CJPIA provides risk coverage for
its members through the pooling of losses and purchased insurance. The coverage
extends to general liability and workers’ compensation administered by CJPIA. In
addition, the City also participates in the all-risk property protection offered by CJPIA.
Various control techniques, including safety, ergonomic, harassment and driver
awareness training have been implemented to minimize losses.
LOCAL ECONOMY
The City of Moorpark is a suburb in an affluent metropolitan area with a strong and
highly diversified tax base. Over the years, property values and personal income levels
within the City have generally generated revenues sufficient to support the level of
municipal services and facilities needed by the community. In fiscal year 2018-19, the
City’s assessed valuation increased 5.42% compared to the previous year.
Moorpark is home to over 3,000 businesses with a mix of industries, and no one single
employment sector dominates. The City’s sales tax base is comprised of a number of
companies which include industries such as retail trades, restaurants, fuel and service
stations, autos and transportations, and construction. These sales tax producers
generate 88% of the City’s total annual sales tax revenue. The City also receives
franchise tax from public utility or service such as Southern California Gas Company or
Waste Management. Overall, the City’s fiscal year 2018-19 franchise tax revenue was
$1,281,901.
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The City’s tax base is well diversified with total tax revenue representing 73% of the
City’s total General Fund revenues. Property tax revenue (which includes in-lieu of
motor vehicle fees) represents 70% of total tax revenues. Sales tax revenue represents
30% of total tax revenues. Total tax revenue increased 4.6% from fiscal year 2017-18.
LONG-TERM FINANCIAL PLANNING
Every two years the City Council reviews and adopts the City’s strategies, goals and
objectives (SGO.) It evaluates the financial resource capability of the City to achieve
sustained progress toward the City’s mission, which is: “Striving to preserve and
improve the quality of life in Moorpark.” The SGO establishes the foundation and
framework for guiding policy and financial management decisions. This long-term
perspective provides a more strategic pathway for the community and the organization
in understanding the overall direction of the City.
The SGO projects are intended to be consistent with operating budget priorities. This
forecasting mechanism helps to prepare for the upcoming budget year and to identify
long-term financial trends and possible deficit so the budget can be proactively
addressed. The SGO also presents Capital Improvement Project program, the City’s
investment plan for infrastructure, which guides staff in pursuing funding for future
projects.
MAJOR INITIATIVES
The City effectively strives to preserve and improve the quality of life in Moorpark. The
following enhancement and improvement strategies set priorities for City operations.
x Enhance the City’s Economic Development program;
x Improve Mobility through Transportation and Transit Improvements Citywide;
x Enhance Long-Term financial Sustainability;
x Improve Governmental Operations and Internal Services;
x Enhance Quality of Life for Moorpark Residents;
x Continue Environmental Protection and Stewardship Efforts.
FINANCIAL POLICIES
The City is committed to building and maintaining a minimum General Fund reserve
fund balance for emergency/contingency of 20% of expenditures. At June 30, 2019, the
emergency/contingency balance is $3,675,000 or approximately 19% of fiscal year
2018-19 General Fund operating budget.
AWARD
The Government Finance Officers Association of the United States and Canada
(GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to
the City for its comprehensive annual financial report for the fiscal year ended June 30,
vi
vii
2018. In order to be awarded a Certificate of Achievement, a government unit must
publish an easily readable and efficiently organized comprehensive annual financial
report. This report must satisfy both generally accepted accounting principles and
applicable legal requirements. The City has received the award from 2009 to 2018.
A Certificate of Achievement is valid for a period of one year only. We believe that our
current comprehensive annual financial report continues to meet the Certificate of
Achievement Program’s requirements and we are submitting it to the GFOA to
determine its eligibility for another certificate.
ACKNOWLEDGEMENT
We would like to express appreciation to all City staff that assisted and contributed to
the preparation of this report, particularly to the members of the Finance Department
(Irmina Lumbad, Hiromi Dever, Liz Mesa and Daisy Amezcua.) We would also like to
extend our appreciation to the auditors, Lance, Soll & Lunghard, Certified Public
Accountants for their professional assistance. As in the past, the CAFR is available on
the City’s website at www.MoorparkCA.gov.
Respectfully submitted,
Troy Brown Kambiz Borhani, CPA, CGMA
City Manager Finance Director
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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
11, 2019 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 11, 2019
3
7+,63$*(,17(17,21$//</()7%/$1.
4
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
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 June 30, 2019. 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 inflows of resources at the close of fiscal year (FY) 2018/19 by
$384,336,257 (Net Position). This amount is reflective of the entire City which
includes all funds. Of this amount, $53,057,670 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” ($259,942,720). Restrictions for Special Revenue Funds ($71,335,867),
this reduces the Total Net Position to the Unrestricted Net Position ($53,057,670).
Cash and Investments are $112,219,726 while Total Liabilities are $6,779,984;
therefore the City has Cash in excess of Total Liabilities of $105 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 decreased by $330,043 during the fiscal year.
As of June 30, 2019, the City’s governmental funds (General Fund, Special
Revenue Funds and Capital Projects Funds) reported combined ending fund
balances of $116,061,248, an increase of $1,172,218 from the prior year.
At June 30, 2019, fund balances for the General Fund were $4,842,037
($335,920 is in non-spendable form, $3,675,000 is committed to an emergency
contingency reserve and $831,117 is unassigned.)
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
5
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
3) Notes to basic financial statements
Other required supplementary information is included in addition to the basic financial
statements.
Government-Wide Financial Statements. These 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 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 financial information on all of the City’s assets,
liabilities, and deferred inflows/outflows of resources, with the difference reported as net
position. Over time, increases or decreases in net position 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 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 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.
GASB 68 reporting for pensions was implemented five years ago and the figures are
recorded on the government-wide statements. The City does not have a pension liability.
The City has a pension asset of $522,536; reflecting we have overfunded the total pension
liability by $522,536.
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
$362,122; reflecting we have overfunded the total OPEB liability by $362,122.
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
6
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
objectives. The City, like other state and local governments, 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 assessing the City’s near-term financing 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,
Special Projects, and Disposition Development Agreement Settlement. 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 other
governmental funds is provided in the form of combining statements in the other
governmental funds section of this report.
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.
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 reported in the government-wide financial statements because the
resources of those funds 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 30-31 of this report. The assets, liabilities, fund equity and operations
of the dissolved Agency were transferred to the “Successor Agency Private Purpose Trust
Fund”.
7
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
Notes to the Basic Financial Statements. The notes provide additional information that
is necessary to acquire a full understanding of the data provided in the government-wide
and fund financial statements. The notes to the financial statements can be found on
pages 33-71 of this report.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, net position over time, may serve as a useful indicator of a government’s
financial position. In the case of the City, assets and deferred outflows of resources
exceeded liabilities by $384 million at the close of the most recent fiscal year.
City of Moorpark’s Net Position
2019 2018
Assets:
Current and other assets 129,085,771$ 127,221,385$
Net Pension Asset 522,536 -
Net OPEB asset 362,122 333,403
Capital assets 259,942,720 262,137,083
Total Assets 389,913,149 389,691,871
Deferred Outflows:
Pension related 3,110,352 7,373,111
OPEB related 45,000 -
Total Deferred Outflows 3,155,352 7,373,111
Liabilities:
Current liabilities 6,243,322 5,991,360
Net pension liability - 3,959,121
Other liabilities 536,662 602,095
Total Liabilities 6,779,984 10,552,576
Deferred Inflows:
Pension related 1,887,621 1,787,416
OPEB related 64,639 58,690
Total Deferred Inflows 1,952,260 1,846,106
Net Position:
Investment in capital assets 259,942,720 262,137,083
Restricted 71,335,867 66,958,288
Unrestricted 53,057,670 55,570,929
Total Net Position 384,336,257$ 384,666,300$
Governmental Activities
8
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
By far, the largest portion of the City’s net position (67.6%) reflects its investment in capital
assets, (i.e., land, buildings, machinery, equipment, vehicles and infrastructure), less any
related outstanding debt that was used to acquire those assets. The City uses these
capital assets to provide a variety of services to its citizens. Accordingly these assets are
not available for future spending. Although the City’s investment in capital assets is
reported net of related debt, it should be noted that the resources used to prepay this debt
must be provided from other sources, since the capital assets themselves cannot be used
to liquidate these liabilities.
An additional portion of the City’s net position (18.6%) represents resources that are
subject to external restrictions on how they may be used. The remaining balance of
$53,057,670 is unrestricted and may be used to meet the government’s ongoing
obligations to its citizens and creditors, subject to applicable federal and state laws and
regulations.
At the end of the current fiscal year, the City is able to report in all reported categories of
net position, both for the City as a whole, as well as for its separate governmental
activities. The same situation held true for the prior fiscal year.
‐ 100,000 200,000 300,000
Unrestricted
Restricted
Investment in
capital assets
Thousands
CITY OF MOORPARK Net Position
June 30, 2019 and 2018
2018
2019
9
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
However, the City’s overall net position decreased $330,043 from the prior fiscal year. The
reasons for this overall decrease are discussed in the following sections for governmental
activities.
Governmental Activities. During the current fiscal year, net position for governmental
activities decreased by $330,043 from the prior fiscal year for an ending balance of
$384,336,257. Key elements of this shortage are a combination of factors highlighted in
the table and pie charts below.
Revenue Highlights
Total revenues of governmental activities were $32.4 million. The largest component of
total revenue is taxes at $15.8 million, making up 48.8% of total revenues. This is
consistent with the nature and purpose of governmental funds, particularly in the General
Fund, were programs are largely supported by general taxes. Use of money and property
also increased by $4.3 million due to unrealized market value gains and higher interest
income compared to prior year.
Expense Highlights
Functional expenses for the year totaled $32.7 million in the governmental funds, which
was an increase of $1.7 million over the prior year. This fluctuation among Programs
expenses represents an overall increase of 58% in two of its categories, and a decrease of
9% in the remaining four. The ones increased were: General government, which includes
(City Council, City Manager, Administrative Services, Finance, and City Attorney) by
$1.9 million or 95%, and Streets and roads by $1.9 million or 42%. Although all categories
consist of many components across the funds and figures, the notable projects that were
completed during the fiscal year were: Tierra Rejada Streetscape in the amount of
$1.2 million, Open-Space land acquisition totaling $3.2 million, a land transfer to JPA
causing a reduction of ($2.0) million. The remaining four categories decreased by a total
of $2.1 million attributing even more to the swing amidst all expenses and precipitating a
small deficit at year end.
10
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
City of Moorpark’s Changes in Net Position
2019 2018
Revenues
Program Revenues:
Charges for services 6,439,474$ 9,314,485$
Operating contributions and grants 3,708,488 3,463,350
Capital contributions and grants 100,006 1,946,022
General Revenues:
Property taxes 10,168,691 9,545,738
Sales taxes 4,336,676 4,291,309
Franchise taxes 1,281,901 1,249,789
Use of money and property 5,257,540 997,189
Other 1,075,172 401,083
Total R evenues 32,367,948 31,208,965
Expenses
General government 3,878,000 2,001,516
Public safety 9,327,889 10,870,950
Public services 4,714,035 4,771,248
Parks and recreation 8,300,859 8,845,066
Streets and roads 6,477,208 4,556,851
Total Expenses 32,697,991 31,045,631
Increase (decrease) in net position (330,043) 163,334
Net position - Beginning 384,666,300 384,502,966
Net position - Ending 384,336,257$ 384,666,300$
Governmental Activities
11
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
Charges for services
20%
Operating
contributions and
grants
12%
Capital contributions
and grants
0%
Taxes
48%
Use of money and
property
17%
Other
3%
Revenues
General government
12%
Public safety
29%
Public services
14%
Parks and recreation
25%
Street and roads
20%
Interest on long‐term
debt
0%
Expenses
12
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
FINANCIAL ANALYSIS OF THE CITY’S MAJOR FUNDS
As noted earlier, the City uses fund accounting to ensure and 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 balance of spendable resources. Such information is
useful in assessing the City’s financing requirements. In particular, unassigned fund
balance may serve as a useful measure of government’s net resources available for
discretionary use as they represent the portion of fund balance which has not yet been
limited to use for a particular purpose by either an external party, the City itself, or a group
or individual that has been delegated authority to assign resources for use for particular
purposes by the City Council.
At June 30, 2019, the City’s governmental funds reported combined fund balances of
$116,061,248, an increase of $1,172,218 in comparison with the prior year. $335,920 or
0.3% is nonspendable, $64,611,317 or 55.7% is restricted to specific purpose, $4,702,756
or 4.1% is committed, $46,686,676 or 40.2% is assigned and negative ($275,421) or
negative (0.2%) of the fund balances constitutes unassigned fund balance. This negative
unassigned fund balance is made up of two types of fund balances, General Fund in the
mount of $831,117, and all Other Governmental Funds in the amount of ($1,106,538.)
(10,000) ‐ 10,000 20,000 30,000 40,000 50,000 60,000 70,000
Nonspendable
Restricted
Committed
Assigned
Unassigned
Thousands
General Fund
Components of Fund Balance
June 30, 2018 and 2019
2018
2019
13
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
GENERAL FUND
The general fund is the chief operating fund of the City. At the end of current fiscal year,
the total fund balance of the general fund was $4,842,037 (consisting of $335,920 in
nonspendable form, $3,675,000 is committed to an emergency contingency reserve and
$831,117 is unassigned,) which increased by $342,311 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 24.2% 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 2018/19:
Actual revenues were higher by $1,080,625 or 6% with the largest variance being
investment earnings which is difficult to estimate since it is dependent on market’s
performance.
Actual expenditures were under budget by $4,171,722 million mainly due to salary
savings from vacant positions and capital projects not being completed but fully
budgeted during the year.
Transfers Out was over budget by $1,093,145 due to more transfer required to
support the Parks Assessment District than budgeted.
Key factors for revenues and expenses when compared to FY 2017/18 are as follows:
The City’s secured property tax revenues increased by $205,904 or 5.5%.
Landfill and Local Impact fee increased by $190,121 mostly due to a new solid
waste management impact fee in the amount of $187,300 which will be collected
annually.
Interest earnings increased by $280,978 or 72.7% due to unrealized market value
gains and higher interest income compared to prior year.
Expenditures and transfers out ended the year at $1,195,136 or 6% less than the
prior year figure due to extra contributions made to CalPERS in previous fiscal year.
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 $750,025 due to
unrealized market value gains and higher interest income compared to prior year.
Assessment District Fund
The fund balance of the Assessment District Fund decreased by $1.5 million from the prior
year. Major capital project expenditures in the districts this year are causing the decrease.
14
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
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.
Special Projects Capital Projects Fund
Per City Council Policy, the City will maintain a General Fund reserved fund balance for
Emergency/Contingency of 20% of expenditures, plus and unreserved fund balance of
$1 million. Any excess General Fund unreserved fund balance will be transferred out to
the Special Projects Fund. For fiscal year ending June 30, 2019, General Funds’ revenues
exceeded expenditures by $4.7 million, and of this amount, $1.4 million was transferred to
the Special Projects Fund. The fund balance of Special Projects Fund at June 30, 2019 is
about $26.4 million.
DDA Settlement Fund
Fund balance increased by $82,014 from the prior year’s deficit of $11,485 to a balance of
$70,529 during the current fiscal year.
Non-Major Governmental Funds
The fund balance of all other Non-Major Governmental Funds increased by $329,965 from
the previous fiscal year due to reduced capital outlay expenditures.
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, 2019, were revenues
exceeding expenditures by $4,721,510; out of which $1,428,900 was transferred to the
Special Projects Fund. Revenues plus Transfers In were $952,192 less than the final
budget and expenditures plus Transfers Out ended the year under budget (final) by
$3,078,577. During the fiscal year, the City Council appropriated an additional $2.0 million
in General Fund for expenditures like Tierra Rejada Streetscape ($1.25 million), District
Based Election ($180 thousand), and software ($91 thousand.) 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.
15
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
CAPITAL ASSETS
The City’s investment in capital assets for its governmental activities as of June 30, 2019,
amounts to $259,942,720 million (net of accumulated depreciation). This investment in
capital assets includes land, rights of way, construction in progress, buildings and
improvements, machinery and equipment, and infrastructure. The total decrease in the
capital assets for the current fiscal year was approximately 0.8%.
City of Moorpark’s Capital Assets (net of depreciation)
2019 2018
Land 45,659,030$ 44,554,875$
Rights of Way 123,302,765 123,302,765
Construction in Progress 7,677,749 9,544,934
Buildings and improvements 29,419,664 30,811,431
Machinery and equipment 1,988,955 2,398,308
Infrastructure 51,894,557 51,524,770
Total 259,942,720$ 262,137,083$
Governmental Activities
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.
EMPLOYEE COMPENSATED ABSENCES
As of June 30, 2019, the City’s employees benefit obligations decreased by $65,433 or
11% from prior year.
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. The City will continue to wind down the
services component of CFD 2004-1 which allocated a portion of property taxes in the
Moorpark Highlands. This will necessitate the City identifying other sources of funds to
supplant the $400 thousand that would have generated.
16
CITY OF MOORPARK
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2019
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 2019/20 budget, the City took into consideration the following factors:
Sales Tax revenues assume a minor increase from FY 2018/19
Property Tax and Vehicle License fees revenue are projected to increase slightly
Franchise Tax revenue expects a small increase from prior year.
Increase of 0.790% in CalPERS employer retirement rate from 8.892% to 9.680%,
effective July 1, 2019. This rate is projected to increase to 10.5% in FY 2021/22.
Increase in employee compensation from a general 1% cost of living adjustment
and increases in medical insurance premiums.
Projections indicate our cost for general liability and workers compensation
insurance will both slightly increase slightly for FY 2019/20 when compared to
FY 2018/19 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 2019/20 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 report is designed to provide a general overview of the City’s finances for all those
with an interest in the government’s finances. Questions concerning any of the information
provided in this report or requests for additional financial information should be addressed
to the office of the Finance Department, 799 Moorpark Avenue, Moorpark, California
93021, or at www.MoorparkCA.gov.
17
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CITY OF MOORPARK, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2019
TABLE OF CONTENTS
Note 1: Summary of Significant Accounting Policies ....................................................................... 35
Note 2: Stewardship, Compliance, and Accountability .................................................................... 43
Note 3: Cash and Investments ......................................................................................................... 44
Note 4: Notes and Loans Receivable .............................................................................................. 50
Note 5: Interfund Transactions ......................................................................................................... 52
Note 6: Capital Assets and Depreciation ......................................................................................... 54
Note 7: Employee Compensated Absences .................................................................................... 55
Note 8: Defined Benefit Pension Plan .............................................................................................. 55
Note 9: Other Post-Employment Benefits ........................................................................................ 61
Note 10: Conduit Debt – Revenue Bonds ........................................................................................ 66
Note 11: Special Assessment Bonds ............................................................................................... 66
Note 12: Risk Management .............................................................................................................. 67
Note 13: Commitments and Contingencies ..................................................................................... 69
Note 14: Successor Agency Private Purpose Trust Fund to the Former
Redevelopment Agency of the City of Moorpark (SARA) ............................................................ 70
Note 15: Employees Retirement Plan PARS ................................................................................... 73
33
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CITY OF MOORPARK, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
JUNE 30, 2019
Note 9: Other Post-Employment Benefits (Continued)
Discount Rate
The discount rate used to measure the total OPEB liability was 6.75 percent. The projection
of cash flows used to determine the discount rate assumed that City contributions will be
made at rates equal to the actuarially determined contribution rates. Based on those
assumptions, the OPEB plan’s fiduciary net position was projected to be available to make
all projected OPEB payments for current active and inactive employees and beneficiaries.
Therefore, the long-term expected rate of return on OPEB plan investments was applied
to all periods of projected benefit payments to determine the total OPEB liability.
Changes in the OPEB Liability
Total OPEB
Liability
Fiduciary Net
Position
Net OPEB
Liability/(Asset)
1,772,430$ 2,105,833$ (333,403)$
59,839 - 59,839
Interest 121,324 - 121,324
- - -
- - -
- - -
- 46,000 (46,000)
- - -
- 167,790 (167,790)
(69,756) (69,756) -
- (3,908) 3,908
111,407 140,126 (28,719)
1,883,837$ 2,245,959$ (362,122)$
Changes for the year
(6/30/18 measurement date)
Balance at 6/30/19
Net Changes
Administrative Expenses
Benefit Payments
Net Investment Income
Balance at 6/30/19
(6/30/18 measurement date)
Contributions- Employee
Contributions- Employer*
Assumption Changes
Benefit Changes
Service Cost
Actual vs. Expected Experience
*Contributions consist solely of implied subsidy benefits.
Sensitivity of the Net OPEB Asset to Changes in the Discount Rate
The following presents the net OPEB asset of the City if it were calculated using a discount
rate that is one percentage point lower or one percentage point higher than the current
rate, for measurement period ended June 30, 2019:
1% Decrease Current Rate 1% Increase
(5.75%) (6.75%) (7.75%)
Net OPEB Liability/(Asset) (74,459)$ (362,122)$ (597,255)$
Discount Rate
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CITY OF MOORPARK, CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
STREET AND TRAFFIC SAFETY FUND
FOR THE YEAR ENDED JUNE 30, 2019
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 22,053,631$ 22,053,631$ 22,053,631$ -$
Resources (Inflows):
Charges for services 51,000 51,000 105,077 54,077
Use of money and property 360,000 590,000 968,039 378,039
Amounts Available for Appropriations 22,464,631 22,694,631 23,126,747 432,116
Charges to Appropriations (Outflows):
Public safety 57,808 58,787 39,451 19,336
Public services 261,626 294,032 263,702 30,330
Street and roads --12,892 (12,892)
Capital outlay 963,024 984,033 7,046 976,987
Total Charges to Appropriations 1,282,458 1,336,852 323,091 1,013,761
Budgetary Fund Balance, June 30 21,182,173$ 21,357,779$ 22,803,656$ 1,445,877$
The notes to required supplementary information are an integral part of this schedule.
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121
STATISTICAL SECTION
7+,63$*(,17(17,21$//</()7%/$1.
Contents Page
Financial Trends 122
Revenue Capacity 130
Debt Capacity 135
Demographic and Economic Information 141
Operating Information 143
These tables provide information regarding the City's operations
and resources in order to help the reader gain knowledge about
how the City's financial statistics relate to the services the City
provides.
These tables present demographic and economic indicators that
provide the reader a better understanding of the environment
within which the City's activities take place and allow for
comparison between cities.
Statistical Section
These tables contain trend information over multiple years in
order to better help the reader understand how the City's financial
performance has changed over time.
These tables contain information regarding the City's largestown-
source revenue, property tax.
These tables present information regarding the City's current debt
requirements and the City's financial ability to issue additional
debt in the future.
This part of the City of Moorpark CAFR presents detailed information regarding five
categories:financial trends,revenue capacity,debt capacity,demographic and economic
information,and operating information.These tables are presented as a context for
understanding the City's overall financial health.
2010 2011 2012 2013 2014
Governmental activities:
Invested in capital assets,
net of related debt 141,095,551$ 145,841,042$ 139,795,930$ 262,271,564$ 259,798,991$
Restricted 91,504,803 72,654,599 87,274,980 82,125,331 86,007,374
Unrestricted 15,828,208 13,402,969 7,909,301 10,042,168 15,521,233
Total governmental activities net assets 248,428,562$231,898,610$234,980,211$354,439,063$361,327,598$
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)
122
2015 2016 2017 2018 2019
Governmental activities:
Invested in capital assets,
net of related debt 260,051,061$ 259,824,449$ 265,474,327$ 262,137,083$ 259,942,720$
Restricted 89,502,603 94,421,242 91,919,782 66,958,288 71,335,867
Unrestricted 22,642,705 23,579,979 23,886,449 55,570,929 53,057,670
Total governmental activities net assets 372,196,369$377,825,670$381,280,558$384,666,300$384,336,257$
Fiscal Year
CITY OF MOORPARK
Net Position by Component
Last Ten Fiscal Years
(Accrual basis of accounting)
123
2010 2011 2012 2013 2014
Expenses:
General government 1,603,279$3,201,184$2,217,953$ 4,149,965$2,163,246$
Public safety 7,016,015 7,070,049 6,158,455 6,550,936 6,882,753
Public services 13,589,878 31,775,462 11,124,523 9,948,865 11,779,873
Parks and recreation 4,934,002 4,658,717 5,704,208 5,755,528 6,032,005
Streets and Roads --- --
Interest on long-term debt 1,504,502 1,492,604 354,412 --
Total governmental activities expenses 28,647,676 48,198,016 25,559,551 26,405,294 26,857,877
Program revenues:
Charges for services:
General government 258,431 293,008 407,883 587,915 1,474,249
Public safety 477,305 492,847 445,642 809,257 2,657,332
Public services 2,769,641 2,473,770 1,988,453 4,154,598 7,815,032
Parks and recreation 643,593 697,787 858,333 973,761 1,913,045
Streets and Roads -----
Total charges for services 4,148,970 3,957,412 3,700,311 6,525,531 13,859,658
Operating contributions and grants 4,128,842 5,999,168 3,702,582 3,533,608 4,364,461
Capital contributions and grants 1,970,931 1,703,076 2,106,706 1,879,634 2,010,143
Total governmental activities
program revenues 10,248,743 11,659,656 9,509,599 11,938,773 20,234,262
Net program revenues (expenses)(18,398,933)(36,538,360)(16,049,952)(14,466,521)(6,623,615)
General revenues and other changes in net assets:
Taxes:
Property tax 7,449,063 7,287,282 6,943,275 6,776,729 6,841,765
Property tax, Redevelopment Agency 6,864,777 6,755,960 3,389,064 --
Franchise tax 1,171,825 1,207,778 1,231,741 1,222,956 1,222,759
Sales tax 2,382,010 2,577,105 2,622,419 2,730,871 2,695,884
Sales tax in lieu 588,635 940,791 857,217 875,160 1,089,362
Motor vehicle in lieu 109,136 170,592 18,590 19,262 15,942
Investment income 853,074 856,413 1,206,622 142,222 1,153,683
Contributed Capital -- 663,818 --
Other 283,372 212,487 245,235 299,730 492,755
Gain on sale of property --- --
Special item (1)--- --
County settlement --- --
--356,845 --
Total governmental activities 19,701,892 20,008,408 17,534,826 12,066,930 13,512,150
Changes in net position -
governmental activities 1,302,959$(16,529,952)$1,484,874$(2,399,591)$6,888,535$
(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)
124
2015 2016 2017 2018 2019
Expenses:
General government 1,212,685$ 795,671$ 3,301,931$ 1,980,131$ 3,878,000$
Public safety 7,024,242 7,614,298 9,225,826 10,870,950 9,327,889
Public services 11,558,575 12,162,933 9,613,028 4,771,248 4,714,035
Parks and recreation 5,614,080 7,117,157 6,764,333 8,845,066 8,300,859
Streets and Roads 274,257 4,556,851 6,477,208
Interest on long-term debt --23,347 21,385 -
Total governmental activities expenses 25,409,582 27,690,059 29,202,722 31,045,631 32,697,991
Program revenues:
Charges for services:
General government 1,463,859 685,537 960,934 1,144,176 634,694
Public safety 3,325,404 1,970,207 2,623,885 954,599 400,544
Public services 10,471,498 5,026,698 6,499,441 2,292,214 1,882,043
Parks and recreation 3,119,649 2,378,698 3,810,319 3,908,952 3,404,486
Streets and Roads ---1,014,544 117,707
Total charges for services 18,380,410 10,061,140 13,894,579 9,314,485 6,439,474
Operating contributions and grants 4,049,606 3,943,429 2,209,535 3,463,350 3,708,488
Capital contributions and grants 4,636,843 2,014,302 1,243,383 1,946,022 100,006
Total governmental activities
program revenues 27,066,859 16,018,871 17,347,497 14,723,857 10,247,968
Net program revenues (expenses)1,657,277 (11,671,188)(11,855,225)(16,321,774)(22,450,023)
General revenues and other changes in net assets:
Taxes:
Property tax 7,638,300 7,923,937 9,332,969 9,545,738 10,168,691
Property tax, Redevelopment Agency - - -
Franchise tax 1,284,268 1,276,932 1,559,634 1,249,789 1,281,901
Sales tax 2,749,320 3,316,402 3,854,408 4,291,309 4,336,676
Sales tax in lieu 896,527 730,083 - - -
Motor vehicle in lieu 15,399 14,415 - - -
Investment income 1,116,545 2,447,983 347,582 997,189 5,257,540
Contributed Capital - - - - -
Other 687,525 1,592,693 215,621 401,083 1,075,172
Gain on sale of property - - - - -
Special item (1) - - - - -
County settlement - - - - -
-----
Total governmental activities 14,387,884 17,302,445 15,310,214 16,485,108 22,119,980
Changes in net position -
governmental activities 16,045,161$ 5,631,257$ 3,454,989$ 163,334$ (330,043)$
Extraordinary item - Gain on
Dissolution of RDA
CITY OF MOORPARK
Statement of Activities (Condensed)
Last Ten Fiscal Years
(Accrual basis of accounting)
125
2010 2011 2012 2013 2014
General fund:
Reserved 337,286$-$-$-$-$
Unreserved 2,662,713 ----
Nonspendable - 220,976 1,275,022 635,176 635,899
Restricted - ----
Committed - ----
Assigned - ----
Emergency contingency reserve - ----
Unassigned -2,779,024 2,999,000 3,000,000 3,000,000
Total general fund 2,999,999 3,000,000 4,274,022 3,635,176 3,635,899
All other governmental funds:
Reserved 38,208,807$-$-$-$-$
Unreserved, reported in:
Special revenue funds 32,207,690 ----
Capital projects funds 33,735,939 ----
Debt Service funds 294,202 ----
Non-major funds 25,335,288 ----
Fund Balances:
Nonspendable - 14,862,594 3,055,064 10,478,901 10,253,789
Restricted - 66,565,551 55,945,095 44,067,428 49,389,385
Committed - 795,208 783,281 742,546 698,395
Assigned - 28,849,138 30,892,276 33,084,456 36,190,577
Unassigned -(2,124,660)(2,047,164)(2,026,212)(1,825,187)
Total all other governmental funds 129,781,926$108,947,831$88,628,552$86,347,119$94,706,959$
Fiscal Year
CITY OF MOORPARK
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
126
2015 2016 2017 2018 2019
General fund:
Reserved -$ -$-$-$ -$
Unreserved - - - - -
Nonspendable 660,077 154,863 158,857 70,741 335,920
Restricted - - - - -
Committed - - - - -
Assigned - - - - -
Emergency contingency reserve - - - 3,429,259 3,675,000
Unassigned 2,999,941 2,865,439 3,011,336 999,726 831,117
Total general fund 3,660,018 3,020,302 3,170,193 4,499,726 4,842,037
All other governmental funds:
Reserved -$ -$-$-$ -$
Unreserved, reported in:
Special revenue funds - - - - -
Capital projects funds - - - - -
Debt Service funds - - - - -
Non-major funds - - - - -
Fund Balances:
Nonspendable 10,363,316 9,017,847 158,857 5,711 -
Restricted 54,572,775 57,941,616 61,977,366 61,173,545 64,611,317
Committed 711,399 736,185 847,588 888,556 1,027,756
Assigned 42,221,565 47,613,826 50,386,413 49,480,362 46,686,676
Unassigned (1,604,570)(1,503,658)1,797,897 (1,158,870)(1,106,538)
Total all other governmental funds 106,264,485$113,805,816$115,168,121$110,389,304$111,219,211$
Fiscal Year
CITY OF MOORPARK
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
127
2010 2011 2012 2013 2014
Revenues:
Taxes 18,730,771$19,042,900$16,147,175$12,662,488$12,931,981$
Licenses and permits 598,370 587,186 561,530 498,102 1,279,619
Fines and forfeitures 436,377 441,543 446,426 420,555 425,844
Uses of money and property 1,547,229 1,537,255 1,381,235 482,129 1,533,697
Charges for services 3,284,275 2,579,593 3,559,454 5,170,238 10,785,334
Intergovernmental 2,629,132 4,786,235 1,627,462 2,503,734 3,257,823
Maintenance assessments 1,950,431 2,112,992 2,114,957 1,893,699 2,159,121
Franchise fees -----
Building and safety fees -----
Planning and public work fees -----
Development fees -----
Contributions from prop owners -----
Other 587,832 833,082 1,345,246 167,784 438,612
Total revenues 29,764,417 31,920,786 27,183,485 23,798,729 32,812,031
Expenditures:
Current:
General government 1,497,916 2,289,299 890,396 2,125,004 1,746,028
Public safety 6,769,484 6,839,355 6,467,065 6,306,906 6,643,550
Public services 12,343,896 12,876,132 8,321,090 7,391,632 9,126,851
Parks and recreation 4,453,400 4,074,490 5,038,957 5,086,773 5,360,424
Streets and Roads ---
Capital outlay 5,548,179 24,506,524 4,679,053 5,144,756 1,574,615
Debt service:
Principal 495,000 1,874,064 590,122 --
Interest 1,482,799 1,471,516 688,825 --
Bond issuance costs -----
Total expenditures 32,590,674 53,931,380 26,675,508 26,055,071 24,451,468
Excess of revenues over
expenditures (2,826,257)(22,010,594)507,977 (2,256,342)8,360,563
Other financing sources (uses):
Gain from sale of property -----
Bond Proceeds -----
Discount on Bonds -----
County settlements -----
Transfers in 9,378,101 3,820,738 4,739,189 3,262,665 4,718,044
Transfers out (9,378,101)(2,644,238)(4,739,189)(3,262,665)(4,718,044)
Total other financing
sources (uses) -1,176,500 ---
Extraordinary Item --(19,553,234)--
Net change in fund balances (2,826,257)$(20,834,094)$(19,045,257)$(2,256,342)$8,360,563$
Debt service as a percentage of
noncapital expenditures 7.9% 12.8% 6.2% 0.0% 0.0%
Fiscal Year
CITY OF MOORPARK
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
128
2015 2016 2017 2018 2019
Revenues:
Taxes 13,688,319$14,417,009$14,816,810$15,086,944$15,787,268$
Licenses and permits 1,249,964 1,109,136 1,258,680 921,448 496,322
Fines and forfeitures 384,288 471,684 493,607 448,822 379,836
Uses of money and property 1,512,399 2,968,575 763,001 997,189 5,257,540
Charges for services 15,951,226 8,121,521 8,519,922 5,677,086 2,766,456
Intergovernmental 5,246,632 3,584,007 2,765,226 3,478,963 3,711,525
Maintenance assessments 2,487,047 2,737,711 3,015,980 2,453,264 2,453,623
Franchise fees -----
Building and safety fees -----
Planning and public work fees -----
Development fees -----
Contributions from prop owners -----
Other 445,197 1,443,805 774,632 4,245,928 2,999,531
Total revenues 40,965,072 34,853,448 32,407,858 33,309,644 33,852,101
Expenditures
Current:
General government 2,495,775 1,423,174 2,863,214 5,248,464 3,836,247
Public safety 6,789,765 6,999,561 8,496,995 8,924,343 8,396,009
Public services 10,468,227 9,254,464 6,852,118 5,526,289 4,536,265
Parks and recreation 5,732,314 6,089,350 5,711,596 9,348,196 7,845,819
Streets and Roads 259,546 3,647,853 4,382,822
Capital outlay 3,892,870 4,163,202 9,859,039 894,814 3,682,721
Debt service:
Principal - - - --
Interest 4,476 22,082 23,347 --
Bond issuance costs -----
Total expenditures 29,383,427 27,951,833 34,065,855 33,589,959 32,679,883
Excess of revenues over
expenditures 11,581,645 6,901,615 (1,657,997)(280,315)1,172,218
Other financing sources (uses):
Gain from sale of property -----
Bond Proceeds -----
Discount on Bonds -----
County settlements -----
Transfers in 7,365,629 6,115,233 3,961,767 6,919,757 8,078,411
Transfers out (7,365,629)(6,115,233)(3,961,767)(6,919,757)(8,078,411)
Total other financing
sources (uses) -----
Extraordinary Item -----
Net change in fund balances 11,581,645$6,901,615$ (1,657,997)$ (280,315)$ 1,172,218$
Debt service as a percentage of
noncapital expenditures 0.0% 0.1% 0.1% 0.0% 0.0%
CITY OF MOORPARK
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
129
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 0.216%
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 0.213%
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 0.210%
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 0.218%
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 0.095%
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 0.094%
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%
2019 6,217,467,935 120,389,266 80,850,244 6,257,006,957 1,106,609,875 61,404,595 36,304,783 1,131,709,687 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 factor" (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 the only data currently available with respect to the actual
market value of taxable property and is subject to the limitations described above.
130
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
1 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000
0.02640 0.02850 0.03070 0.03240 0.03270 0.03290 0.03180 0.03200 0.02130 0.02090
0.00430 0.00370 0.00370 0.00350 0.00350 0.00350 0.00350 0.00350 0.00350 0.00350
0.03760 0.03980 0.05750 0.04490 0.03950 0.05550 0.06920 0.06540 0.06540 0.06680
0.01390 0.01510 0.01400 0.01910 0.01670 0.01760 0.01300 0.01550 0.01510 0.01520
2 1.08220 1.08710 1.10590 1.09990 1.09240 1.10950 1.11750 1.11640 1.10530 1.10640
3 0.09077 0.90770 0.09077 0.09078 0.09078 0.09078 0.09078 0.09078 0.09078 0.09078
----------
4 1.00430 1.00370 1.00370 - - - - - - -
5 0.21589 0.21304 0.21047 0.21806 0.09508 0.09498 0.09447 0.09422 0.09406 0.09401
Notes
1
2
3
4
5
Source: HdL, Coren & Cone
Ventura County Assessor
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
General Obligation Debt 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.
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
per Prop 13
Total Direct Rate
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.
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.
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.
131
Percent of Total Percent of Total
Taxable City Taxable Taxable City Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value *Value Value Value
NF Moorpark Multifamily Assoc 91,544,399$ 1.46 %
DBRE Moorpark LLC 69,761,376$ 1.44 %
Autosafe Aurbag 12 California LP 64,731,785 1.34 %
Toll Land XIX LP 49,145,392 1.01 %
Waterstone Properties Moorpark LLC 75,614,696 1.21 % 48,894,000 1.01 %
Moorpark Center LLC 49,013,419 0.78 %
Moorpark Marketplace LLC 38,465,354 0.79 %
USA-Patriot LP 38,450,000 0.79 %
Mission Bell Plaza East/West LLC 35,677,560 0.57 %
Kavlico Corporation 34,883,000 0.72 %
ROIC California 32,860,202 0.53 %
Ensign-Bickford Aerospace 30,596,647 0.49 %
London Rep Retail California LLC 28,000,000 0.45 %
Village at Moorpark LLC 28,357,619 0.58 %
G & Y Moorpark LLC 25,680,620 0.53 %
CSHV Moorpark LLC 24,900,000 0.40 %
EMRY Investments LLC 24,404,865 0.39 %
709 Science Drive LLC 23,460,000 0.37 %
Tuscany Square Partners LLC 24,378,709 0.50 %
416,071,788$6.65 %422,747,855$8.72 %
* 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
CITY OF MOORPARK
2018-19 2009-10
Current Year and Nine Years Ago
Principal Property Tax Payers
132
Collections
Fiscal Taxes Levied from
Year Ended for the Percent Previous Percent
June 30 Fiscal Year Amount of Levy Years Amount of Levy
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 %
2019 4,981,779 4,629,520 92.9 % 143,195 4,772,715 95.8 %
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.
133
2018-19 2008-09
76 Albertsons
Campus Plaza Shell Command Performance Catering
Command Performance Catering Dick's Sporting Goods
Dick's Sporting Goods Kahoots Pet Store
In N Out Burgers Kohls
Kahoots Pet Store McDonalds
Kohls Michaels Arts & Crafts
Michaels Arts & Crafts Moorpark 76
Moorpark 76 Moorpark Auto Spa & Lube
Moorpark Chevron Moorpark Chevron
Moorpark Country Club Moorpark College Bookstore
Moorpark Petroleum Moorpark Petroleum
National Ready Mixed Concrete Moorpark Shell
Pentair Pool Products National Ready Mixed Concrete
Ralphs Ralphs
Shell Regenesis Power
Simi Valley Harley Davidson Simi Valley Harley Davidson
Target Target
Testequity Testequity
TJ Maxx TJ Maxx
Tom Lindstrom RV USA Gas
Tractor Supply Vons
Vons Warehouse Discount Center
Warehouse Discount Center 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
134
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
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%-
2019 ----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 $11,695,000 in 2006.
Tax Allocation Bonds are the debt of the Successor Agency and not a part of the City.
Please read NOTE 14, pages 62-65.
2 These ratios are calculated using personal income and population for the prior calendar year.
Governmental Activities
CITY OF MOORPARK
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
135
Fiscal Year General Tax Percent of
Ended Obligation Allocation Assessed Per
June 30 Bonds Bonds 1 Total Value 2 Capita
2010 - 28,710,000 28,710,000 0.5 %775
2011 - 28,155,000 28,155,000 0.5 %749
2012 ---- %-
2013 ---- %-
2014 ---- %-
2015 ---- %-
2016 ---- %-
2017 ---- %-
2018 ---- %-
2019 ---- %-
Outstanding General Bonded Debt
CITY OF MOORPARK
Ratio of General Bonded Debt Outstanding
Last Ten Fiscal Years
2 Assessed value has been used because the actual value of taxable property is not readily available in
the State of California.
General bonded debt is debt payable with governmental fund resources and general obligation bonds
recorded in enterprise funds (of which, the City has none).
1 Tax Allocation Bonds are the debt of the Successor Agency and not a part of the City. Please read
NOTE 14, pages 62-65.
136
City Assessed Valuation 2018-19 6,257,006,957$
Redevelopment Agency Incremental Valuation 1,131,709,687
Adjusted Assessed Valuation 5,125,297,270$
Estimated
Share of
Percentage Debt as of Overlapping
Applicable 6/30/2019 Debt
Direct and Overlapping Tax and Assessment Debt:
Metropolitan Water District 0.214 % 48,050,000$ 102,827$
Ventura Community College District 4.640 % 275,097,579 12,764,528
Conejo Valley Unified School District 0.014 % 94,534,279 13,235
Moorpark Unified School District 93.506 % 49,658,207 46,433,403
City of Moorpark 100.000 %--
City of Moorpark Community Facilities District No. 97-1 100.000 % 3,645,000 3,645,000
City of Moorpark Community Facilities District No. 2004-1 100.000 % 8,570,000 8,570,000
City of Moorpark 1915 Act Bonds 100.000 % 590,000 590,000
Total Direct and Overlapping Tax & Assessment Debt 480,145,065 72,118,993
Overlapping General Fund Obligation Debt:
Ventura County General Fund Obligations 4.638 % 324,780,000 15,063,296
Ventura County Superintendent of Schools COPs 4.638 % 9,220,000 427,624
Moorpark Unified School District COPs 93.506 % 3,644,126 3,407,476
Total Overlapping General Fund Obligation Debt 337,644,126 18,898,396
Overlapping Tax Increment Debt (Successor Agency):100.000 % 20,730,000 20,730,000
Total Direct Debt -
Combined Total Debt*838,519,191$ 111,747,389
Total direct and overlapping debt 111,747,389$
Notes:
The direct and overlapping bonded debt above is not the City's obligation
CITY OF MOORPARK
Direct and Overlapping Debt
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.
* 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.
137
2010 2011 2012 2013 2014
Assessed valuation 4,619,910,655$ 4,659,133,835$ 4,662,536,870$ 4,596,277,650$ 4,718,569,672$
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation 1,154,977,664 1,164,783,459 1,165,634,218 1,149,069,413 1,179,642,418
Debt limit percentage 15%15%15%15%15%
Debt limit 173,246,650 174,717,519 174,845,133 172,360,412 176,946,363
-----
Legal debt margin 173,246,650$ 174,717,519$ 174,845,133$ 172,360,412$ 176,946,363$
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
138
2015 2016 2017 2018 2019
Assessed valuation 5,042,223,024$ 5,333,705,999$ 5,654,428,902$ 5,917,959,303$ 6,217,467,935$
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation 1,260,555,756 1,333,426,500 1,413,607,226 1,479,489,826 1,554,366,984
Debt limit percentage 15%15%15%15%15%
Debt limit 189,083,363 200,013,975 212,041,084 221,923,474 233,155,048
-----
Legal debt margin 189,083,363$ 200,013,975$ 212,041,084$ 221,923,474$ 233,155,048$
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
139
Fiscal Year
Ended Tax
June 30 Increment Principal Interest Coverage
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
2019 - - - 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
140
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
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%
2018 37,020 $ 1,494,684 $ 40,375 3.0 %37.7 88.4 %41.1 %
Sources: California State Department of Finance
California Emplyment Development Department
CITY OF MOORPARK
Demographic and Economic Statistics
Last Ten Calendar Years
141
Percent of Percent of
Number of Total Number of Total
EMPLOYER Employees Employment Employees Employment
Pennymac 880 4.6 %
Aero Vironment 800 4.2 %
Moorpark Unified School District 718 3.8 %825 4.9 %
Moorpark College 646 3.4 %750 4.4 %
Pentair Water Pool & Spa 530 2.8 %377 2.2 %
Benchmark Electronics Manufacturing Solutions 302 1.6 %
Ensign-Bickford Aerospace & Defense Company 166 0.9 %
Target Stores 160 0.8 %150 0.9 %
Edison Power Constructors, Inc.155 0.8 %
Abbyson Living 144 0.8 %
Kavlico 350 2.1 %
Boething Tree Farm 145 0.9 %
Vons 120 0.7 %
American Board Assembly 115 0.7 %
General Optics 75 0.4 %
Prudential Overall Supply 70 0.4 %
Source: City of Moorpark, Community Development Department
State of California, Employment Development Department
TOTAL CITY EMPLOYMENT 19100 16896
"Total Employment" as used above represents the total employment of all employers located within City limits.
2018-19 2009-10
CITY OF MOORPARK
Principal Employers
Current Year and Nine Years Ago
142
Function 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
General government 26 27 28 27 27 26 25 31 26 32
Public safety (crossing guards)5533332222
Public services 20 16 18 19 19 22 19 17 16 14
Parks and recreation 55 54 51 58 75 70 57 74 78 71
Total 106 102 100 107 124 121 103 124 122 119
Public safety 1 38 40 39 40 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
143
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Police: (A)
Arrests 2,207 1,266 1,158 1,120 1,148 938 966 1,139 1,531 1,498
Parking citations issued 4,969 4,887 5,704 5,129 2,736 3,117 4,582 5,841 6,419 6,436
Fire: (B)
Number of "prime" emergency calls 1,945 1,707 2,174 1,851 1,835 1,996 2,026 2,107 2,145 2,179
Business Inspections*115 196 196 132 500 694 727 443 390 196
Public works: (C)
Street resurfacing (miles)5.0 2.0 - 4.5 - - - - 0.7 -
Parks and recreation: (D)
Number of recreation classes 419 325 308 300 265 303 295 314 396 403
Number of facility rentals 230 277 118 226 103 248 287 405 301 398
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.;
(D) Arroyo Vista Recreation Dept.;
Active Adult Center.
(C) Moorpark Public Works Dept.; - every six years, the City plans to resurface its streets, 1/3 every other year (total street miles = 220)
CITY OF MOORPARK
Operating Indicators
by Function
Last Ten Fiscal Years
144
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
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 2,620 2,620 2,620 2,620 2,620 2,620 2,620 2,620 2,620
Traffic signals 20 21 21 21 21 21 22 22 22 22
Parks and recreation:
Parks 18 18 18 18 18 19 19 19 19 19
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
145
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