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Home My WebLink AboutACFR 2020COMPREHENSIVE ANNUAL FFINANCIAL REPORT Fiscal Year Ending June 30, 2020 City of Moorpark &,7<2)02253$5.&$/,)251,$ &2035(+(16,9($118$/),1$1&,$/5(3257 ),6&$/<($5(1'('-81( 3UHSDUHGE\ .DPEL]%RUKDQL&3$&*0$)LQDQFH'LUHFWRU +LURPL'HYHU6HQLRU$FFRXQW7HFKQLFLDQ,, 'DLV\$PH]FXD$FFRXQW7HFKQLFLDQ,, 7+,63$*(,17(17,21$//</()7%/$1. &,7<2)02253$5.&$/,)251,$ &2035(+(16,9($118$/),1$1&,$/5(3257 )257+(),6&$/<($5(1'('-81( 7$%/(2)&217(176 3DJH 1XPEHU ,1752'8&725<6(&7,21 /HWWHURI7UDQVPLWWDOL &LW\2IILFLDOVL[ 2UJDQL]DWLRQ&KDUW[ *)2$&HUWLILFDWHRI$FKLHYHPHQWIRU([FHOOHQFHLQ)LQDQFLDO5HSRUWLQJ[L ),1$1&,$/6(&7,21 ,1'(3(1'(17$8',7256¶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±*HQHUDO)XQG %XGJHWDU\&RPSDULVRQ6FKHGXOH±6WUHHWDQG7UDIILF6DIHW\)XQG %XGJHWDU\&RPSDULVRQ6FKHGXOH±$VVHVVPHQW'LVWULFWV)XQG %XGJHWDU\&RPSDULVRQ6FKHGXOH±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±$JHQF\)XQGV 6WDWHPHQWRI&KDQJHVLQ$VVHWVDQG/LDELOLWLHV$JHQF\)XQGV 67$7,67,&$/6(&7,21 )LQDQFLDO7UHQGV 1HW3RVLWLRQE\&RPSRQHQW/DVW7HQ)LVFDO<HDUV 6WDWHPHQWRI$FWLYLWLHV&RQGHQVHG/DVW7HQ)LVFDO<HDUV )XQG%DODQFHVRI*RYHUQPHQWDO)XQGV/DVW7HQ)LVFDO<HDUV &KDQJHVLQ)XQG%DODQFHVRI*RYHUQPHQWDO)XQGV /DVW7HQ)LVFDO<HDUV 5HYHQXH&DSDFLW\ $VVHVVHG9DOXHDQG(VWLPDWHG$FWXDO9DOXHRI7D[DEOH3URSHUW\ /DVW7HQ)LVFDO<HDUV 'LUHFWDQG2YHUODSSLQJ3URSHUW\7D[5DWHV/DVW7HQ)LVFDO<HDUV 3ULQFLSDO3URSHUW\7D[SD\HUV&XUUHQW<HDUDQG1LQH<HDUV$JR 3URSHUW\7D[/HYLHVDQG&ROOHFWLRQV/DVW7HQ)LVFDO<HDUV 3ULQFLSDO6DOHV7D[5HPLWWHUV&XUUHQW<HDUDQG1LQH<HDUV$JR 'HEW&DSDFLW\ 5DWLRVRI2XWVWDQGLQJ'HEWE\7\SH/DVW7HQ)LVFDO<HDUV 5DWLRVRI*HQHUDO%RQGHG'HEW2XWVWDQGLQJ/DVW7HQ)LVFDO<HDUV 'LUHFWDQG2YHUODSSLQJ'HEW /HJDO'HEW0DUJLQ,QIRUPDWLRQ/DVW7HQ)LVFDO<HDUV 3OHGJHG5HYHQXH&RYHUDJH/DVW7HQ)LVFDO<HDUV 'HPRJUDSKLFDQG(FRQRPLF,QIRUPDWLRQ 'HPRJUDSKLFDQG(FRQRPLF6WDWLVWLFV/DVW7HQ&DOHQGDU<HDUV 3ULQFLSDO(PSOR\HUV&XUUHQW<HDUDQG1LQH<HDUV$JR 2SHUDWLQJ,QIRUPDWLRQ )XOO7LPHDQG3DUW7LPH&LW$PSOR\HHVE$XQFWLRQ/DVW7HQ)LVFDO<HDUV 2SHUDWLQJ,QGLFDWRUVE\)XQFWLRQ/DVW7HQ)LVFDO<HDUV &DSLWDO$VVHW6WDWLVWLFVE\)XQFWLRQ/DVW7HQ)LVFDO<HDUV 7+,63$*(,17(17,21$//</()7%/$1. INTRODUCTORY SECTION 7+,63$*(,17(17,21$//</()7%/$1. CITY OF MOORPARK JANICE S. PARVIN Mayor CHRIS ENEGREN Mayor Pro Tem DAVID POLLOCK Councilmember DANIEL GROFF Councilmember DR. ANTONIO CASTRO Councilmember FINANCE DEPARTMENT | 799 Moorpark Avenue, Moorpark, California 93021 Main City Phone Number (805) 517-6200 | Fax (805) 532-2545 | moorpark@moorparkca.gov December 18, 2020 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, 2020. 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, 2020 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, 2020. 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 36,278 (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 ii election. Districts 2 and 4 held their elections on November 3, 2022, and Districts 1 and 3 elections will be on November 8, 2022. 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 50 and part-time staff of approximately 38 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 iii 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 2019-2020 amounted to $40,808,451 and $17,973,809 respectively. iv $12.1 $14.3 $4.6 $3.5 $67.8 $9.3 $13.5 $1.3 Portfolio (in millions) June 30, 2020 Money Market Certificates of Deposit Corporate Notes State /Local Govt. Bonds 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, 2020, and shows the OPEB asset is 144% funded. The City has a “Net OPEB Asset” of $720,648 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, 2020 have a net ending balance of $260 million. v LONG-TERM LIABILITIES/BONDED INDEBTEDNESS At June 30, 2020, the City has no outstanding bonds or other debt but does have long- term liabilities in the amount of $618,621 comprised of $543,269 for employee compensated absences (accrued leave) and $75,352 in net pension liability. Please read Notes 7 EMPLOYEE COMPENSATED ABSENCES and 8 DEFINED BENEFIT PENSION PLAN 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, 2020 were $9.8 million and $10.2 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 Coronavirus Disease 2019 (COVID-19) pandemic crisis has put an end to the longest modern economic expansion in history. In the last nine months, state, counties and cities have taken extraordinary efforts to mitigate the spread of the virus. The COVID-19 pandemic has devastated global and local economies. United States real (inflation-adjusted) Gross Domestic Product (GDP) fell at an annualized rate of 4.8% during the first quarter of calendar year 2020, as the initial impact began to take a toll on the economy. In the second quarter, the economy contracted by a record annualized rate of 31.4%, plummeting into a recession after a decade of expansion. This record contraction came as states nationwide imposed lockdowns to contain the spread of this disease. The mandated closures led to record job losses of nearly 40 million people in April, falling 14.7% and setting a new record since 1939. Some of those jobs have rebounded as businesses have begun to reopen, albeit at lower capacity prior to pandemic. vi Most businesses in Moorpark have suffered calamitous setbacks due to health orders issued. Nearly fifteen long-term businesses permanently closed. Revenues have declined dramatically this year. Unemployment rate in Ventura County rose to 7.1% in October from 3.4% a year-ago. Meanwhile, the local real estate market has stayed relatively strong compared to the broader economy, as low interest rates have helped buoy home price growth. The City has several primary General Fund revenue sources that have acutely been sensitive to COVID-19 economic conditions: sales and use tax, business registration, film permits, rents and concessions, parks and facility use fees, recreation programs, fines and forfeitures, and contributions all suffered a combined loss of $1.4 million compared to prior fiscal year. However, some of the other revenue sources performed well and helped close the gap between what was budgeted and actually received with a $65 thousand dollars difference. The fiscal year 2021 balanced budget is based on conservative revenues and reduced operating expenditures that reflect economic downturn expectations due to COVID-19 impact on the abovementioned revenues. These projections of revenues and expenditures do not include the impact of CARES Act grant funding that may be used to reimburse eligible operating expenses. In fiscal year 2021, the City received $447,929 of CARES Act funds which will be used to support the city’s response to the pandemic to keep facilities safe, parks clean and staff working from home. 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 2019-20 franchise tax revenue was $1,556,500. The City’s tax base is well diversified with total tax revenue representing 74% 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 0.15% from fiscal year 2018-19. On June 26, 2020, the City welcomed its first hotel in nearly a century. Transient occupancy tax of 10% collected by the hotel operator will be remitted to the City on or before the last day of the month following the close of each calendar quarter. At June 30, 2020, the transient occupancy tax collected by the hotel operator was $980. This amount will be recorded in fiscal year 2020-21. vii 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 to promote sound financial management practices. On October 21, 2020, the City Council adopted few revisions to the City’s existing reserve policy. Some of the notable changes were: 1) for emergency/contingency reserve, the 20% of expenditures will be based on the subsequent year’s adopted operating budget; 2) an economic uncertainty reserve, in the amount of $500 thousand, was also created to help provide resources to minimize service disruption in the event of fiscal stress such as unexpected revenue shortfalls or unpredicted one-time expenditures or operating changes that occur outside of the planned annual budget At June 30, 2020, the emergency/contingency balance is $3,827,188 or 20% of fiscal year 2020-21 General Fund adopted operating budget. &,7<2)02253$5. &2035(+(16,9($118$/),1$1&,$/5(3257 )RUWKH)LVFDO<HDU(QGHG-XQH ',5(&725<2)&,7<2)),&,$/6 &,7<&281&,/ -DQLFH3DUYLQ0D\RU &KULV(QHJUHQ0D\RU3UR7HP 'DYLG3ROORFN&RXQFLOPHPEHU 'U$QWRQLR&DVWUR&RXQFLOPHPEHU 'DQLHO*URII&RXQFLOPHPEHU &,7<0$1$*(0(1767$)) 7UR\%URZQ&LW\0DQDJHU 3-*DJDMHQD$VVLVWDQW&LW\0DQDJHU .DUHQ9DXJKQ,QWHULP'HSXW\&LW\0DQDJHU -HUHP\/DXUHQWRZVNL3DUNVDQG5HFUHDWLRQ'LUHFWRU .DPEL]%RUKDQL&LW\7UHDVXUHU)LQDQFH'LUHFWRU L[ &,7<2)02253$5.25*$1,=$7,21&+$57&LW\0DQDJHU¶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CITY OF MOORPARK, CALIFORNIA STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2020 Net (Expenses) Revenues and Changes in Net Position Operating Capital Charges for Contributions Contributions Governmental Expenses Services and Grants and Grants Activities Functions/Programs Primary Government: Governmental Activities: General government 2,183,910$ 691,952$ 191,315$ -$ (1,300,643)$ Public safety 9,122,565 468,675 - -(8,653,890) Public services 5,957,380 1,312,533 3,836,051 -(808,796) Parks and recreation 8,948,075 3,529,892 3,400 -(5,414,783) Street and roads 3,340,716 12,301 3,350 -(3,325,065) Total Governmental Activities 29,552,646$ 6,015,353$ 4,034,116$ -$ (19,503,177) General Revenues: Taxes: Property taxes, levied for general purpose 10,318,021 Sales taxes 4,040,141 Franchise taxes 1,556,500 Use of money and property 5,412,223 Other 360,564 Total General Revenues 21,687,449 Change in Net Position 2,184,272 Net Position - Beginning, Originally Reported 384,336,257 Restatement 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)XQG%DODQFHV'HILFLW%HJLQQLQJDV5HVWDWHG )XQG%DODQFHV'HILFLW(QGLQJ 6SHFLDO5HYHQXH)XQGV 3DUNV3XEOLF )DFLOLWLHV &RPPXQLW\ 'HYHORSPHQW (QGRZPHQW /LEUDU\ 6HUYLFHV CITY OF MOORPARK, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2020 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 Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances (Deficit) - Beginning, Originally Reported Restatements Fund Balances (Deficit) - Beginning, as Restated Fund Balances (Deficit) - Ending (CONTINUED) -$ -$ -$ -$ ---- ---- -5,623 -- 2,479 205,596 86 4,207 113,811 - -- -5,702 -- 116,290 216,921 86 4,207 9,737 - -- 78,758 23,012 -- - 250,120 -- ---- ---- - 50,587 -- 88,495 323,719 - - 27,795 (106,798) 86 4,207 ---- ---- ---- 27,795 (106,798) 86 4,207 37,796 3,614,414 (27,969)101,018 ---- 37,796 3,614,414 (27,969)101,018 65,591$ 3,507,616$ (27,883)$ 105,225$ Traffic Safety City Affordable Housing Tierra Rejada/Spring Road A.O.C. Casey/Gabbert Road A.O.C. Special Revenue Funds 91 CITY OF MOORPARK, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2020 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 Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances (Deficit) - Beginning, Originally Reported Restatements Fund Balances (Deficit) - Beginning, as Restated Fund Balances (Deficit) - Ending -$ -$ -$ -$ ---- - - 1,499,567 - 10,134 - -- 491,859 704 73,498 190,064 ---- ---- 501,993 704 1,573,065 190,064 ---- ---- 21,276 - -- ---51,156 - - 780,316 - 171,055 - 10,537 - 192,331 - 790,853 51,156 309,662 704 782,212 138,908 ---- - - (154,014)- - - (154,014) - 309,662 704 628,198 138,908 10,714,159 16,913 1,171,361 4,612,171 ---- 10,714,159 16,913 1,171,361 4,612,171 11,023,821$ 17,617$ 1,799,559$ 4,751,079$ Special Revenue Funds State Gas Tax Art In Public Places Los Angeles A.O.C. 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7KHVHWDEOHVSUHVHQWGHPRJUDSKLFDQGHFRQRPLFLQGLFDWRUV WKDWSURYLGHWKHUHDGHUDEHWWHUXQGHUVWDQGLQJRIWKH HQYLURQPHQWZLWKLQZKLFKWKH&LW\ VDFWLYLWLHVWDNHSODFH DQGDOORZIRUFRPSDULVRQEHWZHHQFLWLHV 2SHUDWLQJ,QIRUPDWLRQ 7KHVHWDEOHVSURYLGHLQIRUPDWLRQUHJDUGLQJWKH&LW\ V RSHUDWLRQVDQGUHVRXUFHVLQRUGHUWRKHOSWKHUHDGHUJDLQ NQRZOHGJHDERXWKRZWKH&LW\ VILQDQFLDOVWDWLVWLFVUHODWHWR WKHVHUYLFHVWKH&LW\SURYLGHV 6WDWLVWLFDO6HFWLRQ 2011 2012 2013 2014 2015 Governmental activities: Net investment in capital assets 145,841,042$ 139,795,930$ 262,271,564$ 259,798,991$ 260,051,061$ Restricted 72,654,599 87,274,980 82,125,331 86,007,374 89,502,603 Unrestricted 13,402,969 7,909,301 10,042,168 15,521,233 22,642,705 Total governmental activities net position 231,898,610$ 234,980,211$ 354,439,063$ 361,327,598$ 372,196,369$ 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) 120 2016 2017 2018 2019 2020 Governmental activities: Net investment in capital assets 259,824,449$ 265,474,327$ 262,137,083$ 259,942,720$ 260,143,811$ Restricted 94,421,242 91,919,782 66,958,288 71,335,867 74,141,650 Unrestricted 23,579,979 23,886,449 55,570,929 53,057,670 52,340,369 Total governmental activities net position 377,825,670$ 381,280,558$ 384,666,300$ 384,336,257$ 386,625,830$ Fiscal Year CITY OF MOORPARK Net Position by Component Last Ten Fiscal Years (Accrual basis of accounting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xpenditures: General government 795,671$ 3,301,931$ 1,980,131$ 3,878,000$2,183,910$ Public safety 7,614,298 9,225,826 10,870,950 9,327,889 9,122,565 Public services 12,162,933 9,613,028 4,771,248 4,714,035 5,957,380 Parks and recreation 7,117,157 6,764,333 8,845,066 8,300,859 8,948,075 Streets and Roads - 274,257 4,556,851 6,477,208 3,340,716 Interest on long-term debt -23,347 21,385 -- Total governmental activities expenses 27,690,059 29,202,722 31,045,631 32,697,991 29,552,646 Program revenues: Charges for services: General government 685,537 960,934 1,144,176 634,694 691,952 Public safety 1,970,207 2,623,885 954,599 400,544 468,675 Public services 5,026,698 6,499,441 2,292,214 1,882,043 1,312,533 Parks and recreation 2,378,698 3,810,319 3,908,952 3,404,486 3,529,892 Streets and Roads --1,014,544 117,707 12,301 Total charges for services 10,061,140 13,894,579 9,314,485 6,439,474 6,015,353 Operating contributions and grants 3,943,429 2,209,535 3,463,350 3,708,488 4,034,116 Capital contributions and grants 2,014,302 1,243,383 1,946,022 100,006 - Total governmental activities program revenues 16,018,871 17,347,497 14,723,857 10,247,968 10,049,469 Net program revenues (expenses)(11,671,188)(11,855,225)(16,321,774)(22,450,023)(19,503,177) General revenues and other changes in net assets: Taxes: Property tax 7,923,937 9,332,969 9,545,738 10,168,691 10,318,021 Property tax, Redevelopment Agency - - Franchise tax 1,276,932 1,559,634 1,249,789 1,281,901 1,556,500 Sales tax 3,316,402 3,854,408 4,291,309 4,336,676 4,040,141 Sales tax in lieu 730,083 - - - - Motor vehicle in lieu 14,415 - - - - Investment income 2,447,983 347,582 997,189 5,257,540 5,412,223 Contributed Capital - - - - - Other 1,592,693 215,621 401,083 1,075,172 360,564 --- - - Total governmental activities 17,302,445 15,310,214 16,485,108 22,119,980 21,687,449 Changes in net position - governmental activities 5,631,257$3,454,989$163,334$(330,043)$2,184,272$ Extraordinary item - Gain on Dissolution of RDA CITY OF MOORPARK Statement of Activities (Condensed) Last Ten Fiscal Years (Accrual basis of accounting) Fiscal Year 123 *HQHUDOIXQG 5HVHUYHG 8QUHVHUYHG 1RQVSHQGDEOH 5HVWULFWHG &RPPLWWHG $VVLJQHG (PHUJHQF\FRQWLQJHQF\UHVHUYH 8QDVVLJQHG 7RWDOJHQHUDOIXQG $OORWKHUJRYHUQPHQWDOIXQGV 5HVHUYHG 8QUHVHUYHGUHSRUWHGLQ 6SHFLDOUHYHQXHIXQGV &DSLWDOSURMHFWVIXQGV 'HEW6HUYLFHIXQGV 1RQPDMRUIXQGV )XQG%DODQFHV 1RQVSHQGDEOH 5HVWULFWHG &RPPLWWHG $VVLJQHG 8QDVVLJQHG 7RWDODOORWKHUJRYHUQPHQWDOIXQGV )LVFDO<HDU &,7<2)02253$5. 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