HomeMy WebLinkAboutAGENDA REPORT 2024 0306 CCSA REG ITEM 10BCITY OF MOORPARK, CALIFORNIA
City Council Meeting
of March 6, 2024
ACTION APPROVED STAFF
RECOMMENDATION.
BY A. Hurtado.
B. Consider Annual Comprehensive Financial Report (ACFR) and Other Audit
Reports for Fiscal Year Ended (FYE) June 30, 2023. Staff Recommendation:
Accept and file the Annual Comprehensive Financial Report (ACFR) and additional
auditor reports for fiscal year ending June 30, 2023. (Staff: Hiromi Dever, Interim
Finance and Administrative Services Director)
Item: 10.B.
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Hiromi Dever, Interim Finance and Administrative Services Director
DATE: 03/06/2024 Regular Meeting
SUBJECT: Consider Annual Comprehensive Financial Report (ACFR) and Other
Audit Reports for Fiscal Year Ended (FYE) June 30, 2023
SUMMARY
The City’s independent auditor, Lance, Soll & Lunghard LLP (LSL), has completed their
audit of the financial statements of the City and its component units for the fiscal year
ending June 30, 2023. In connection with the audit, Finance staff, with the assistance of
LSL and other City departments, has prepared the Annual Comprehensive Financial
Report (ACFR) as well as other audit reports. The reports are described and presented
herein for City Council approval.
DISCUSSION
State law requires all general-purpose local governments, within seven months of the
close of each fiscal year, to publish a complete set of financial statements presented in
conformity with generally accepted accounting standards as promulgated by the
Government Accounting Standards Board (GASB). This report is commonly referred to
as the Annual Comprehensive Financial Report (ACFR) and must be audited by an
independent auditor using generally accepted government auditing standards. The
ACFR includes disclosures designed to enable the reader to gain an understanding of the
City’s financial matters and is provided to several government agencies and financial
institutions in order to comply with various reporting, financial, and subsequent bond
disclosure requirements.
Within the ACFR, the overall financial picture of the City is presented on a Government-
wide basis. This is designed to provide readers with a broad overview of the City's
finances. These statements show the June 30, 2023, fiscal year balances and overall
results of operations for the period then ended, for all City funds. Presented separate
from the Government-wide statements, but included within the ACFR disclosures are the
financial statements for fiduciary funds, including the Successor Agency to the
Redevelopment Agency of the City of Moorpark (Successor Agency) and the Moorpark
Watershed, Parks, Recreation and Conservation Authority.
Item: 10.B.
18
Honorable City Council
03/06/2024 Regular Meeting
Page 2
LSL has issued an unmodified opinion on the City’s financial statements for the fiscal year
ended June 30, 2023. An unmodified or “clean” opinion concludes that the financial
statements are presented fairly in all material respects and contain no material
misstatements.
In connection with the City’s audit, LSL has also issued letters pertaining to their
examination of the City’s internal controls and other findings. These letters are attached
and describe LSL’s agreed upon procedures for establishing Appropriation Limits,
described the methodology and findings of the ACFR and outline any findings while
measuring compliance with procedures. All LSL letters are attached for your reference.
The ACFR and the Housing Successor Fund Financial Statements are posted on the
City’s website: http://www.MoorparkCA.gov
Senate Bill 341 (SB 341) requires audited Financial Statements to be prepared for the
Housing Successor Fund which LSL has also completed as part of their work and is
attached.
ENVIRONMENTAL COMPLIANCE
This action is exempt from the California Environmental Quality Act (CEQA) as it does
not constitute a project, as defined by Section 15378 of the State CEQA Guidelines.
Therefore, no environmental review is required.
FISCAL IMPACT
The cost of the audits and associated reports has been included in the City’s budget.
There are no additional costs associated with the transmittal of the attached reports.
COUNCIL GOAL COMPLIANCE
This action does not support a current strategic directive.
STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED)
Accept and file the Annual Comprehensive Financial Report (ACFR) and additional
auditor reports for fiscal year ending June 30, 2023.
Attachment 1: City of Moorpark ACFR for Fiscal Year Ending June 30, 2023
Attachment 2: Independent Auditors’ Report on Internal Control Over Financial
Reporting and on Compliance and Other Matters Based on an Audit of
Financial Statements Performed in Accordance with Government
Auditing Standards
Attachment 3: Independent Accountants’ Report on Agreed-Upon Procedures Applied
to Appropriations Limit Worksheets
Attachment 4: Independent Auditors’ Memo regarding Significant Audit Findings &
Other Matters
Attachment 5: Housing Successor Fund Financial Statements
19
ANNUAL
COMPREHENSIVE
FINANCIAL REPORT
Fiscal Year Ended June 30, 2023
California
ATTACHMENT 1
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CITY OF MOORPARK, CALIFORNIA
Annual Comprehensive Financial Report
For the Fiscal Year Ended June 30, 2023
Table of Contents
Page
Number
INTRODUCTORY SECTION
Letter of Transmittal ................................................................................................................................................ i
City Officials ........................................................................................................................................................... x
Organization Chart ................................................................................................................................................ xi
GFOA Certificate of Achievement for Excellence in Financial Reporting ............................................................ xii
FINANCIAL SECTION
INDEPENDENT AUDITORS’ REPORT ................................................................................................................ 1
MANAGEMENT'S DISCUSSION AND ANALYSIS ............................................................................................... 5
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements:
Statement of Net Position ....................................................................................................................... 24
Statement of Activities ............................................................................................................................ 25
Fund Financial Statements:
Balance Sheet - Governmental Funds ................................................................................................... 26
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Position ............................................................................................................. 29
Statement of Revenues, Expenditures and Changes in Fund
Balances - Governmental Funds ............................................................................................................ 30
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities ............................................................................................................................ 32
Statement of Fiduciary Net Position - Fiduciary Funds .......................................................................... 33
Statement of Changes in Fiduciary Net Position - Fiduciary Funds ....................................................... 34
Notes to Financial Statements ...................................................................................................................... 37
REQUIRED SUPPLEMENTARY INFORMATION
Budgetary Comparison Information:
Budgetary Comparison Schedule – General Fund ................................................................................. 74
Budgetary Comparison Schedule – Street and Traffic Safety Fund ...................................................... 75
Budgetary Comparison Schedule – Assessment Districts Fund ............................................................ 76
Budgetary Comparison Schedule – Low-Mod Income Housing Asset Fund ......................................... 77
Budgetary Comparison Schedule – Community Development Fund ..................................................... 78
Budgetary Comparison Schedule – Los Angeles A.O.C Fund ............................................................... 78
Budgetary Comparison Schedule – American Rescue Plan Act ............................................................ 80
23
CITY OF MOORPARK, CALIFORNIA
Annual Comprehensive Financial Report
For the Fiscal Year Ended June 30, 2023
Table of Contents
Page
Number
Pension Information:
Schedule of Proportionate Share of the Net Pension Liability (Asset) ................................................... 81
Schedule of Plan Contributions .............................................................................................................. 82
Other Post-Employment Benefits Information:
Schedule of Changes in the Net OPEB Asset and Related Ratios ........................................................ 83
Schedule of Plan Contributions .............................................................................................................. 84
Notes to Required Supplementary Information ............................................................................................. 85
COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES
Combining Balance Sheet - Nonmajor Governmental Funds ....................................................................... 88
Combining Statement of Revenues, Expenditures and Changes
in Fund Balances - Nonmajor Governmental Funds ..................................................................................... 94
Budgetary Comparison Schedules (Budgetary Basis) - Special Revenue Funds:
Parks/Public Facilities Fund ................................................................................................................... 99
Endowment Fund.................................................................................................................................. 100
Library Services Fund ........................................................................................................................... 101
Traffic Safety Fund ............................................................................................................................... 102
City Affordable Housing Fund ............................................................................................................... 103
Casey/Gabbert Road A.O.C. Fund ....................................................................................................... 104
Fremont Storm Drain A.O.C. Fund ....................................................................................................... 105
State Gas Tax Fund ............................................................................................................................. 106
Art in Public Places Fund ..................................................................................................................... 107
State and Federal Assistance Fund ..................................................................................................... 108
Local Transportation Transit Fund ........................................................................................................ 109
Prop 1B Local Streets and Roads Fund ............................................................................................... 110
Solid Waste Fund ................................................................................................................................. 111
Budgetary Comparison Schedules (Budgetary Basis) - Capital Project Funds:
Special Projects Fund ........................................................................................................................... 112
Police Facilities Fee Fund .................................................................................................................... 113
Capital Projects Fund ........................................................................................................................... 114
City Hall Building Fund ......................................................................................................................... 116
Equipment Replacement Fund ............................................................................................................. 115
Remain MRA Bond Proceeds Fund ..................................................................................................... 117
PEG Capital Fund ................................................................................................................................. 118
Combining Statement of Fiduciary Net Position – Custodial Funds .................................................................. 119
Combining Statement of Changes in Fiduciary Net Position – Custodial Funds .............................................. 120
24
CITY OF MOORPARK, CALIFORNIA
Annual Comprehensive Financial Report
For the Fiscal Year Ended June 30, 2023
Table of Contents
Page
Number
STATISTICAL SECTION
Financial Trends:
Net Position by Component - Last Ten Fiscal Years ............................................................................ 124
Statement of Activities (Condensed) - Last Ten Fiscal Years .............................................................. 126
Fund Balances of Governmental Funds - Last Ten Fiscal Years ......................................................... 128
Changes in Fund Balances of Governmental Funds -
Last Ten Fiscal Years ........................................................................................................................... 130
Revenue Capacity:
Assessed Value and Estimated Actual Value of Taxable Property -
Last Ten Fiscal Years .................................................................................................................... 132
Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years .................................................. 133
Principal Property Taxpayers - Current Year and Nine Years Ago ...................................................... 134
Secured Property Tax Levies and Collections - Last Ten Fiscal Years ............................................... 135
Principal Sales Tax Remitters - Current Year and Nine Years Ago ..................................................... 136
Debt Capacity:
Ratios of Outstanding Debt by Type - Last Ten Fiscal Years .............................................................. 137
Ratios of General Bonded Debt Outstanding - Last Ten Fiscal Years ................................................. 138
Direct and Overlapping Debt ................................................................................................................ 139
Legal Debt Margin Information - Last Ten Fiscal Years ....................................................................... 140
Pledged-Revenue Coverage - Last Ten Fiscal Years .......................................................................... 142
Demographic and Economic Information:
Demographic and Economic Statistics - Last Ten Calendar Years ..................................................... 143
Principal Employers - Current Year and Nine Years Ago..................................................................... 144
Operating Information:
Full-Time and Part-Time City Employees by Function - Last Ten Fiscal Years ................................... 145
Operating Indicators by Function - Last Ten Fiscal Years ................................................................... 146
Capital Asset Statistics by Function - Last Ten Fiscal Years ............................................................... 147
25
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26
INTRODUCTORY SECTION
27
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28
CITY OF MOORPARK
CHRIS ENEGREN
Mayor
DR. ANTONIO CASTRO
Councilmember
RENEE DELGADO
Councilmember
DANIEL GROFF
Councilmember
TOM MEANS
Councilmember
FINANCE DEPARTMENT | 799 Moorpark Avenue, Moorpark, California 93021
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xi 39
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Moorpark
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2022
Executive Director/CEO
xii 40
FINANCIAL SECTION
41
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1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
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BASIC FINANCIAL STATEMENTS
23 65
CITY OF MOORPARK, CALIFORNIA
Statement of Net Position
June 30, 2023
Governmental
Activities
Assets:
Cash and investments 121,527,798$
Receivables:
Accounts 3,269,920
Notes and loans 6,483,968
Accrued interest 1,200,829
Prepaid costs 5,553
Land held for resale 6,893,496
Net other post-employment benefits asset 1,003,449
Capital assets, not being depreciated 200,255,690
Capital assets, net of depreciation 80,891,358
Total Assets 421,532,061
Deferred Outflows of Resources:
Deferred outflows related to pensions 6,799,828
Deferred outflows related to other post-employment benefits 213,271
Total Deferred Outflows of Resources 7,013,099
Liabilities:
Accounts payable 3,261,466
Accrued liabilities 288,892
Unearned revenue 12,229,064
Deposits payable 4,867,984
Noncurrent liabilities:
Compensated absences, due within one year 373,174
Compensated absences, due in more than one year 157,274
Net pension liability, due in more than one year 3,024,760
Total Liabilities 24,202,614
Deferred Inflows of Resources:
Deferred inflows related to pensions 2,137,531
Deferred inflows related to other post-employment benefits 536,983
Total Deferred Inflows of Resources 2,674,514
Net Position:
Invested in capital assets 281,147,048
Restricted:
Public services 34,373,795
Recreation services 11,883,143
Public Safety 23,501
Low and moderate income housing 16,920,961
Restricted for other post-employment benefits 1,003,449
Unrestricted 56,316,135
Total Net Position 401,668,032$
The notes to financial statements are an integral part of this statement.
24 66
CITY OF MOORPARK, CALIFORNIA
Statement of Activities
For the Year Ended June 30, 2023
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 6,483,210$ 618,705$ 244,571$ 1,951,095$ (3,668,839)$
Public safety 9,352,962 553,031 - -(8,799,931)
Public services 8,932,996 1,906,484 4,458,599 -(2,567,913)
Parks and recreation 11,281,727 4,681,290 2,870 -(6,597,567)
Street and roads 3,566,985 110,717 - 292,812 (3,163,456)
Total Governmental Activities 39,617,880$7,870,227$ 4,706,040$ 2,243,907$ (24,797,706)
General Revenues:
Taxes:
Property taxes, levied for general purpose 11,826,418
Transient occupancy taxes 490,979
Sales taxes 4,948,566
Franchise taxes 1,729,739
Use of money and property 2,607,972
Other 897,569
Total General Revenues 22,501,243
Change in Net Position (2,296,463)
Net Position - Beginning 398,421,154
Restatement of Net Position 5,543,341
Net Position - Beginning, as Restated 403,964,495
Net Position - Ending 401,668,032$
Program Revenues
The notes to financial statements are an integral part of this statement.
25 67
CITY OF MOORPARK, CALIFORNIA
Balance Sheet
Governmental Funds
June 30, 2023
General
Assets:
Cash and investments 5,966,366$ 17,092,204$ 3,947,781$ 7,882$ 4,589,849$
Receivables:
Accounts 1,886,046 82,346 136,702 -86,467
Notes and loans --- 5,233,968 -
Accrued interest --- 1,046,871 -
Prepaid costs 5,553----
Due from other funds -----
Land held for resale --- 6,316,148 -
Total Assets 7,857,965$ 17,174,550$ 4,084,483$ 12,604,869$ 4,676,316$
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficit):
Liabilities:
Accounts payable 1,085,382$ 247,420$ 360,941$ 5,552$ 446,890$
Accrued liabilities 187,048 1,398 19,720 996 35,791
Unearned revenues - 100,000 --295,221
Deposits payable 98,830 -20,000 10,000 3,857,477
Due to other funds -----
Total Liabilities 1,371,260 348,818 400,661 16,548 4,635,379
Deferred Inflows of Resources:
Unavailable revenues 14,400 -- 6,280,839 40,937
Total Deferred Inflows of Resources 14,400 -- 6,280,839 40,937
Fund Balances:
Nonspendable:
Prepaid costs 5,553----
Restricted:
Public services - 16,825,732 3,683,822 --
Recreation services -----
Public safety -----
Low and moderate income housing --- 6,307,482 -
Committed:
Library services -----
Emergency contingency reserve 4,472,402 ----
Economic uncertainty 500,000 ----
Assigned:
Capital projects -----
Unassigned 1,494,350 ----
Total Fund Balances (Deficit)6,472,305 16,825,732 3,683,822 6,307,482 -
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficit) 7,857,965$ 17,174,550$ 4,084,483$ 12,604,869$ 4,676,316$
Street And
Traffic Safety
Assessment
Districts
Low-Mod
Income
Housing Asset
Community
Development
Special Revenue Funds
The notes to financial statements are an integral part of this statement.
26 68
CITY OF MOORPARK, CALIFORNIA
Balance Sheet
Governmental Funds
June 30, 2023
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Prepaid costs
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficit):
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances:
Nonspendable:
Prepaid costs
Restricted:
Public services
Recreation services
Public safety
Low and moderate income housing
Committed:
Library services
Emergency contingency reserve
Economic uncertainty
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficit)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficit)
Capital
Projects Fund
6,419,133$ 6,548,021$ 30,651,599$ 46,304,963$ 121,527,798$
30,794 31,557 - 1,016,008 3,269,920
--- 1,250,000 6,483,968
--- 153,958 1,200,829
-- - -5,553
--- 960,447 960,447
--- 577,348 6,893,496
6,449,927$ 6,579,578$ 30,651,599$ 50,262,724$ 140,342,011$
110,412$ -$ 3,811$ 1,001,058$ 3,261,466$
---43,939 288,892
- 6,688,657 - 5,145,186 12,229,064
4,000 -- 877,677 4,867,984
--- 960,447 960,447
114,412 6,688,657 3,811 8,028,307 21,607,853
--- 1,495,766 7,831,942
--- 1,495,766 7,831,942
-- - -5,553
6,335,515 -- 7,326,593 34,171,662
--- 11,883,143 11,883,143
---23,501 23,501
--- 2,926,699 9,234,181
--- 1,825,708 1,825,708
-- - -4,472,402
-- - -500,000
-- 30,647,788 17,826,765 48,474,553
- (109,079)- (1,073,758)311,513
6,335,515 (109,079) 30,647,788 40,738,651 110,902,216
6,449,927$ 6,579,578$ 30,651,599$ 50,262,724$ 140,342,011$
Los Angeles
A.O.C.
American
Rescue Plan
Act (Arpa-Clfr)
Special
Projects
Other
Governmental
Funds
Total
Governmental
Funds
Special Revenue Funds
The notes to financial statements are an integral part of this statement.
27 69
7+,63$*(,17(17,21$//</()7%/$1.
28 70
CITY OF MOORPARK, CALIFORNIA
Reconciliation of the Balance Sheet of Governmental Funds
To the Statement of Net Position
June 30, 2023
Amounts reported for governmental activities in the statement of net position are different because:
Total fund balances - governmental funds 110,902,216$
Capital assets used in governmental activities are not financial resources and,
therefore, are not reported in the funds.281,147,048
Compensated absences are not due and payable in the current period, and
therefore, are not reported in the funds.(530,448)
Governmental funds report all pension contributions as expenditures; however,
in the statement of activities, the excess/deficiency of the total pension liability
over/under the plan fiduciary net position is reported as a net pension (liability)/asset.(3,024,760)
Pension-related deferred outflows of resources that have not been included as
financial uses in the governmental fund activity are as follows:
Contributions made after the actuarial measurement date 616,473$
Changes in assumptions 309,950
Difference between expected and actual experiences 60,743
Net difference between projected and actual earnings on plan investments 554,056
Adjustments due to differences in proportions 5,258,606 6,799,828
Other post-employment benefits expenses reported in the statement of
Pension-related deferred inflows of resources that have not been included as
financial resources in the governmental fund activity are as follows:
Difference between expected and actual experiences (40,683)
Difference in proportionate share (2,096,848)(2,137,531)
Governmental funds report all other post-employment benefits contributions as
expenditures; however, in the statement of net position, the excess of the plan
fiduciary net position over the total other post-employment benefits liability is
reported as a net other post-employment benefits asset.1,003,449
Other post-employment benefits-related deferred outflows of resources that have not
been included as financial uses in the governmental fund activity are as follows:
Contributions made after the actuarial measurement date 2,662
Changes in assumptions 9,701
Net difference between projected and actual earnings on plan investments 200,908 213,271
Other post-employment-related deferred inflows of resources that have not been
included as financial resources in the governmental fund activity are as follows:
Changes in assumptions (117,310)
Difference between expected and actual experiences (419,673)(536,983)
Revenues reported as unavailable revenue in the governmental funds are recognized
in the statement of activities.7,831,942
Net Position of Governmental Activities 401,668,032$
The notes to financial statements are an integral part of this statement.
29 71
CITY OF MOORPARK, CALIFORNIA
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Governmental Funds
For the Year Ended June 30, 2023
General
Revenues:
Taxes 17,695,136$ -$ -$ -$ -$
Assessments ----86,408
Licenses and permits 205,995 ---369,485
Intergovernmental 142,037 36,520 ---
Charges for services 1,352,448 20,892 --994,906
Use of money and property 1,257,672 571,241 50,613 12,722 -
Fines and forfeitures 109,298 ---3,835
Maintenance assessments -- 3,535,370 --
Miscellaneous 2,282,384 -31,653 --
Total Revenues 23,044,970 628,653 3,617,636 12,722 1,454,634
Expenditures:
Current:
General government 4,061,792 - - 45,985 -
Public safety 8,103,270 3 8,456 -434,033
Public services 945,097 85,884 163,565 12,882 2,423,233
Parks and recreation 3,493,198 - 4,091,907 --
Streets and roads 180,983 ----
Capital outlay 107,218 5,575,795 ---
Total Expenditures 16,891,558 5,661,682 4,263,928 58,867 2,857,266
Excess (Deficiency) of Revenues
Over (Under) Expenditures 6,153,412 (5,033,029) (646,292) (46,145)(1,402,632)
Other Financing Sources (Uses):
Transfers in 23,090 - 1,119,848 -1,402,632
Transfers out (6,079,162)----
Total Other Financing Sources (Uses) (6,056,072)- 1,119,848 -1,402,632
Net Changes in Fund Balances 97,340 (5,033,029)473,556 (46,145)-
Fund Balances (Deficit) - Beginning 6,374,965 21,858,761 3,210,266 7,556,352 -
Restatements --- (1,202,725)-
Fund Balances - Beginning, as Restated 6,374,965 21,858,761 3,210,266 6,353,627 -
Fund Balances (Deficit) - Ending 6,472,305$ 16,825,732$ 3,683,822$ 6,307,482$ -$
Street And
Traffic Safety
Assessment
Districts
Low-Mod
Income Housing
Asset
Community
Development
Special Revenue Funds
The notes to financial statements are an integral part of this statement.
30 72
CITY OF MOORPARK, CALIFORNIA
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Governmental Funds
For the Year Ended June 30, 2023
Revenues:
Taxes
Assessments
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Fines and forfeitures
Maintenance assessments
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Public services
Parks and recreation
Streets and roads
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Changes in Fund Balances
Fund Balances (Deficit) - Beginning
Restatements
Fund Balances - Beginning, as Restated
Fund Balances (Deficit) - Ending
Capital Projects
Fund
-$ -$ -$ 1,300,566$ 18,995,702$
- 147 - -86,555
-- - -575,480
--- 4,067,550 4,246,107
228,925 --645,577 3,242,748
275,664 (109,079) (150,728)699,867 2,607,972
---94,007 207,140
-- - -3,535,370
454,182 --80,445 2,848,664
958,771 (108,932) (150,728) 6,888,012 36,345,738
---30,340 4,138,117
---226,656 8,772,418
8,188 -- 3,144,845 6,783,694
-147 - 1,207,948 8,793,200
--- 1,040,396 1,221,379
4,341,059 -34,181 2,719,586 12,777,839
4,349,247 147 34,181 8,369,771 42,486,647
(3,390,476) (109,079) (184,909) (1,481,759)(6,140,909)
-- 3,562,745 -6,108,315
---(29,153)(6,108,315)
-- 3,562,745 (29,153)-
(3,390,476) (109,079) 3,377,836 (1,510,912)(6,140,909)
9,725,991 - 27,269,952 42,249,563 118,245,850
-- - -(1,202,725)
9,725,991 - 27,269,952 42,249,563 117,043,125
6,335,515$ (109,079)$ 30,647,788$ 40,738,651$ 110,902,216$
Special Revenue Funds
Los Angeles
A.O.C.
American
Rescue Plan
Act (Arpa-Clfr) Special Projects
Other
Governmental
Funds
Total
Governmental
Funds
The notes to financial statements are an integral part of this statement.
31 73
CITY OF MOORPARK, CALIFORNIA
Reconciliation of the Statement of Revenues, Expenditures, and
Changes in Fund Balances of Governmental Funds
To the Statement of Activities
For the Year Ended June 30, 2023
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances - total governmental funds (6,140,909)$
Governmental funds report capital outlays as expenditures. However, in the
statement of activities, the cost of these assets is allocated over their estimated
useful lives and reported as depreciation expense. This is the amount by which
capital outlays exceeded depreciation expense in the current period.
Capital outlay 14,743,412$
Loss on disposal of capital assets (1,620,511)
Depreciation (3,326,808)9,796,093
Compensated absences expenses reported in the statement of activities do not
require the use of current financial resources and, therefore, are not reported as
expenditures in governmental funds.(32,420)
Pension expenses reported in the statement of activities do not require
the use of current financial resources and, therefore, are not reported as
expenditures in governmental funds.(6,980,742)
Other post-employment benefits expenses reported in the statement of
activities do not require the use of current financial resources and, therefore, are
not reported as expenditures in governmental funds.85,836
Revenues reported as unavailable revenue in the governmental funds are
recognized in the statement of activities. These are included in the operating
contributions and miscellaneous income in the statement of activities.975,679
Change in Net Position of Governmental Activities (2,296,463)$
The notes to financial statements are an integral part of this statement.
32 74
CITY OF MOORPARK, CALIFORNIA
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2023
Custodial
Funds
Assets:
Cash and cash equivalents 221,410$ 2,208,946$
Receivables:
Accounts receivable -23,868
Restricted cash and investments 2,705,501 2,134,561
Prepaid costs 119,754 -
Land held for resale 8,036,543 -
Capital assets, not being depreciated 264,543 709,724
Capital assets, net of accumulated depreciation 7,361,367 -
Total Assets 18,709,118 5,077,099
Liabilities:
Accounts payable 5,266 34,100
Accrued interest 142,859 -
Due to bondholders -4,309,780
Bonds payable, due in more than one year 18,022,219 -
Total Liabilities 18,170,344 4,343,880
Net Position:
Restricted for individuals, organizations, and other governments 538,774 733,219
Total Net Position 538,774$ 733,219$
Private-
Purpose Trust
Fund
Successor
Agency
The notes to financial statements are an integral part of this financial statement.
33 75
CITY OF MOORPARK, CALIFORNIA
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended June 30, 2023
Additions:
Property Taxes 1,488,446$ -$
Taxes and special assessments collections -1,311,455
Interest and change in fair value of investments 65,803 35,914
Intergovernmental -27,556
Interest and change in fair value of investments
Miscellaneous -20,903
Total Additions 1,554,249 1,395,828
Deductions:
Administrative expenses 125,000 72,807
Contractual services 8,362 3,803
Interest expense 519,492 397,130
Principal expense -897,674
Depreciation expense 204,395 -
Payments of collections to assessment districts -41,000
Total Deductions 857,249 1,412,414
Net Increase in Fiduciary Net Position 697,000 (16,586)
Net Position - Beginning (158,226)4,989,991
Restatement of Net Position -(4,240,186)
Net Position - Beginning, as Restated (158,226)749,805
Net Position - Ending 538,774$ 733,219$
Private-
Purpose Trust
Fund
Successor
Agency
Custodial
Funds
The notes to financial statements are an integral part of this financial statement.
34 76
CITY OF MOORPARK, CALIFORNIA
Notes to Financial Statements
For the Fiscal Year Ended June 30, 2023
Table of Contents
Note 1: Summary of Significant Accounting Policies ....................................................................................... 37
Note 2: Stewardship, Compliance, and Accountability .................................................................................... 45
Note 3: Cash and Investments ......................................................................................................................... 45
Note 4: Notes and Loans Receivable .............................................................................................................. 51
Note 5: Interfund Transactions ......................................................................................................................... 53
Note 6: Capital Assets and Depreciation ......................................................................................................... 54
Note 7: Employee Compensated Absences .................................................................................................... 55
Note 8: Defined Benefit Pension Plan.............................................................................................................. 55
Note 9: Other Postemployment Benefits ......................................................................................................... 61
Note 10: Special Assessment Bonds ................................................................................................................. 64
Note 11: Risk Management ............................................................................................................................... 65
Note 12: Commitments and Contingencies ....................................................................................................... 67
Note 13: Successor Agency Private Purpose Trust Fund to the Former
Redevelopment Agency of the City of Moorpark (SARA) ................................................................... 68
Note 14: Employees Retirement Plan PARS ..................................................................................................... 70
Note 15: Prior Period Adjustments ..................................................................................................................... 71
Note 16: Subsequent Events .............................................................................................................................. 71
35 77
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71 113
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72 114
REQUIRED SUPPLEMENTARY INFORMATION
73 115
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
General Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 6,374,965$ 6,374,965$ 6,374,965$ -$
Resources (Inflows):
Taxes 16,288,468 16,573,468 17,695,136 1,121,668
Licenses and permits 300,000 300,000 205,995 (94,005)
Intergovernmental 568,000 568,000 142,037 (425,963)
Charges for services 1,212,410 1,212,410 1,352,448 140,038
Use of money and property 656,600 656,600 1,257,672 601,072
Fines and forfeitures 157,000 157,000 109,298 (47,702)
Miscellaneous 2,467,582 2,492,582 2,282,384 (210,198)
Transfers in --23,090 23,090
Amounts Available for Appropriation 28,025,025 28,335,025 29,443,025 1,108,000
Charges to Appropriations (Outflows):
General government 4,079,345 4,494,866 4,061,792 433,074
Public safety 8,556,525 8,561,772 8,103,270 458,502
Public services 1,056,862 1,126,095 945,097 180,998
Parks and recreation 3,647,828 4,032,195 3,493,198 538,997
Streets and roads 203,283 203,283 180,983 22,300
Capital outlay 1,095,655 1,201,930 107,218 1,094,712
Transfers out 2,888,894 2,888,894 6,079,162 (3,190,268)
Total Charges to Appropriations 21,528,392 22,509,035 22,970,720 (461,685)
Budgetary Fund Balance, June 30 6,496,633$ 5,825,990$ 6,472,305$ 646,315$
The notes to required supplementary information are an integral part of this schedule.
74 116
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Street and Traffic Safety Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 21,858,761$ 21,858,761$ 21,858,761$ -$
Resources (Inflows):
Intergovernmental --36,520 36,520
Charges for services 1,230,144 1,230,144 20,892 (1,209,252)
Use of money and property 427,000 427,000 571,241 144,241
Amounts Available for Appropriations 23,515,905 23,515,905 22,487,414 (1,028,491)
Charges to Appropriations (Outflows):
Public safety --3 (3)
Public services 105,531 111,278 85,884 25,394
Capital outlay 2,831,865 8,616,171 5,575,795 3,040,376
Total Charges to Appropriations 2,937,396 8,727,449 5,661,682 3,065,767
Budgetary Fund Balance, June 30 20,578,509$ 14,788,456$ 16,825,732$ 2,037,276$
The notes to required supplementary information are an integral part of this schedule.
75 117
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Assessment District Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 3,210,266$ 3,210,266$ 3,210,266$ -$
Resources (Inflows):
Use of money and property 68,100 68,100 50,613 (17,487)
Maintenance Assessment 3,643,068 3,643,068 3,535,370 (107,698)
Miscellaneous 16,500 16,500 31,653 15,153
Transfers in 1,751,408 1,751,408 1,119,848 (631,560)
Amounts Available for Appropriations 8,689,342 8,689,342 7,947,750 (741,592)
Charges to Appropriations (Outflows):
Public safety 11,554 11,554 8,456 3,098
Public services 352,600 352,600 163,565 189,035
Parks and recreation 5,105,471 5,369,873 4,091,907 1,277,966
Capital outlay 295,000 328,816 -328,816
Total Charges to Appropriations 5,764,625 6,062,843 4,263,928 1,798,915
Budgetary Fund Balance, June 30 2,924,717$ 2,626,499$ 3,683,822$ 1,057,323$
The notes to required supplementary information are an integral part of this schedule.
76 118
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Low-Mod Income Housing Asset Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 6,353,627$ 6,353,627$ 6,353,627$ -$
Resources (Inflows):
Use of money and property 23,000 23,000 12,722 (10,278)
Amounts Available for Appropriations 6,376,627 6,376,627 6,366,349 (10,278)
Charges to Appropriations (Outflows):
General government 69,503 179,503 45,985 133,518
Public services 43,050 56,050 12,882 43,168
Total Charges to Appropriations 112,553 235,553 58,867 176,686
Budgetary Fund Balance, June 30 6,264,074$ 6,141,074$ 6,307,482$ 166,408$
The notes to required supplementary information are an integral part of this schedule.
77 119
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Community Development Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 -$ -$ -$ -$
Resources (Inflows):
Assessments 310,000 310,000 86,408 (223,592)
Licenses and permits 220,571 366,571 369,485 2,914
Charges for services 1,181,708 1,181,708 994,906 (186,802)
Use of money and property 15,000 15,000 -(15,000)
Fines and forfeitures 300 35,300 3,835 (31,465)
Transfers in 1,285,741 1,285,741 1,402,632 116,891
Amounts Available for Appropriations 3,013,320 3,194,320 2,857,266 (337,054)
Charges to Appropriations (Outflows):
Public safety 790,265 790,265 434,033 356,232
Public services 2,223,055 2,684,843 2,423,233 261,610
Total Charges to Appropriations 3,013,320 3,475,108 2,857,266 617,842
Budgetary Fund Balance, June 30 -$ (280,788)$ -$ 280,788$
The notes to required supplementary information are an integral part of this schedule.
78 120
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Los Angeles A.O.C. Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 9,725,991$ 9,725,991$ 9,725,991$ -$
Resources (Inflows):
Charges for services 1,445,304 1,445,304 228,925 (1,216,379)
Use of money and property 273,000 273,000 275,664 2,664
Miscellaneous - 203,807 454,182 250,375
Amounts Available for Appropriations 11,444,295 11,648,102 10,684,762 (963,340)
Charges to Appropriations (Outflows):
Public services 10,113 10,113 8,188 1,925
Capital outlay 10,373,192 10,442,318 4,341,059 6,101,259
Total Charges to Appropriations 10,383,305 10,452,431 4,349,247 6,103,184
Budgetary Fund Balance, June 30 1,060,990$ 1,195,671$ 6,335,515$ 5,139,844$
The notes to required supplementary information are an integral part of this schedule.
79 121
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
American Rescue Plan Act (ARPA-CLFR)
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 -$ -$ -$ -$
Resources (Inflows):
Assessments --147 147
Use of money and property -- (109,079) (109,079)
Amounts Available for Appropriation -- (108,932) (108,932)
Charges to Appropriation (Outflow):
Parks and recreation - 70,000 147 69,853
Capital outlay 5,438,798 5,768,798 - 5,768,798
Total Charges to Appropriations 5,438,798 5,838,798 147 5,838,651
Budgetary Fund Deficit, June 30 (5,438,798)$(5,838,798)$(109,079)$ 5,729,719$
The notes to required supplementary information are an integral part of this schedule.
80 122
CITY OF MOORPARK, CALIFORNIA
Miscellaneous Pension Plan
Schedule of Proportionate Share of the Net Pension Liability (Asset)
As of June 30, for the Last Ten Fiscal Years 1
Proportionate Share Plan's Fiduciary Net
Proportion of the Proportionate of the Net Pension Position as a %
Reporting Date 2 Net Pension Share of Net Liability as a % of of the Total
as of June 30,Liability Pension Liability Covered Payroll Covered Payroll Pension Liability
2023 0.02619% 3,024,760$ 5,107,901$ 59.22%76.68%
2022 3 -0.08647%(4,676,695)4,786,765 -97.70%88.29%
2021 0.00838% 911,336 4,356,136 20.92% 75.10%
2020 0.00074% 75,352 4,993,244 1.51% 75.26%
2019 3 -0.00542%(522,536)4,851,442 -10.77%75.26%
2018 0.03992% 3,959,121 4,806,765 82.37% 73.31%
2017 0.03437% 2,973,847 5,015,277 59.30% 74.06%
2016 0.15930% 1,093,178 5,084,665 21.50% 78.40%
2015 0.71200% 4,430,102 4,861,780 91.12% 79.82%
Notes to Schedule of Proportionate Share of the Net Pension Liability (Asset):
Benefit Changes: None
Changes of Assumptions: None
1 Historical information is required only for measurement for which GASB 68 is applicable. Fiscal year 2015 was the first year of implementation,
therefore only nine years are shown.
3 For fiscal year 2019 (measurement date 6/30/2018) and fiscal year 2022 (measurement date 6/30/2021), the City's plan is considered to be
superfunded, with a net pension asset.
2 The proportionate share of the net pension liability (asset) is measured as of one year behind the reporting date. See Note 8 to financial
statements.
81 123
CITY OF MOORPARK, CALIFORNIA
Miscellaneous Pension Plan
Schedule of Plan Contributions
As of June 30, for the Last Ten Fiscal Years 1
Fiscal Year Actuarially Actual Contribution Contribution
Ending Determined Employer Deficiency Covered as a % of
June 30,Contribution Contribution (Excess)Payroll Covered Payroll
2023 616,473$ 616,473$ -$ 5,468,562$ 11.27%
2022 526,934 526,934 -5,107,901 10.32%
2021 469,589 469,589 -4,786,765 9.81%
2020 464,471 464,471 -4,356,136 10.66%
2019 456,461 456,461 -4,993,244 9.14%
2018 819,439 4,819,439 (4,000,000)4,851,442 99.34%
2017 491,496 491,496 -4,806,765 10.23%
2016 457,020 457,020 -5,015,277 9.11%
2015 547,265 4,147,265 (3,600,000)5,084,665 81.56%
Notes to Schedule of Plan Contributions:
Valuation Date: June 30, 2020
Methods and assumptions used to determine contribution rates:
Actuarial cost method: Entry age normal cost method
Amortization method: Varies by date established and source. May be level dollar or level percent of pay and may include direct rate smoothing
Remaining amortization period: Differs by employer rate plan but not more than 28 years
Assets valuation method: Fair Value of assets
Inflation: 2.50%
Salary Increases: Varies by Entry Age and Service
Investment rate of return: 7.00% (net of administrative expenses)
(1)Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation,
therefore only nine years are shown.
Mortality: Derived using CalPERS' membership data for all funds. The post-retirement mortality rates include 15 years of projected on-going
mortality improvement using 90 percent of Scale MP 2016 published by the Society of Actuaries.
82 124
CITY OF MOORPARK, CALIFORNIA
Other Postemployment Benefits Plan
Schedule of Changes in the Net OPEB Asset and Related Ratios
As of June 30, for the Last Ten Fiscal Years (1)
2023 2022 2021 2020 2019
Measurement Date 6/30/2022 6/30/2021 6/30/2020 6/30/2019 6/30/2018
Changes in Total OPEB Liability:
Service cost 76,893$ 53,210$ 52,259$ 61,634$ 59,839$
Interest 90,791 117,663 112,059 128,924 121,324
Actual vs. expected experience - (434,728) - (166,085) -
Assumption changes -12,641 (21,558) (199,859)-
Benefit payments (63,785) (62,164) (59,234) (70,954) (69,756)
Net change in total OPEB liability 103,899 (313,378)83,526 (246,340) 111,407
Total OPEB liability - beginning of year 1,407,645 1,721,023 1,637,497 1,883,837 1,772,430
Total OPEB liability - end of year (a)1,511,544 1,407,645 1,721,023 1,637,497 1,883,837
Changes in Plan Fiduciary Net Position:
Contributions - employer (2)521 640 433 45,000 46,000
Net investment income (397,637)658,899 83,417 138,621 167,790
Benefit payments (63,785) (62,164) (59,234) (70,954) (69,756)
Administrative expenses (1,277)(1,380)(1,585)(481)(3,908)
Net change in plan fiduciary net position (462,178) 595,995 23,031 112,186 140,126
Plan fiduciary net position - beginning of year 2,977,171 2,381,176 2,358,145 2,245,959 2,105,833
Plan fiduciary net position - end of year (b)2,514,993 2,977,171 2,381,176 2,358,145 2,245,959
Net OPEB Liability/(Asset) (a) - (b)(1,003,449)$ (1,569,526)$ (660,153)$ (720,648)$ (362,122)$
Plan fiduciary net position as a percentage of the total OPEB liability 166.39% 211.50% 138.36% 144.01% 119.22%
Covered-employee payroll 5,420,207$ 5,018,789$ 5,400,578$ 5,125,824$ 6,234,093$
Net OPEB asset as a percentage of covered payroll -18.51% -31.27%-12.22% -14.06%-5.81%
Notes to Schedule:
(2) Contributions to trust of $0 plus implied subsidy benefits.
(1)Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018 was the first year of implementation. Future
years' information will be displayed up to 10 years as information becomes available.
83 125
CITY OF MOORPARK, CALIFORNIA
Other Postemployment Benefits Plan
Schedule of Plan Contributions
As of June 30, for the Last Ten Fiscal Years (1)
2023 2022 2021 2020 2019
-$ -$ -$ -$ 41,000$
2,662 521 640 433 45,000
(2,662)$ (521)$ (640)$ (433)$ (4,000)$
5,728,295$ 5,420,207$ 5,018,789$ 5,400,578$ 5,125,824$
0.0%0.0%0.0%0.0%0.9%
Notes to Schedule:
(2) For 2020, contributions to trust of $0 plus implied subsidy benefits. For 2021, administrative expenses paid outside of trust.
Valuation Date
Actuarial Cost Method
Amortization Method
Amortization Period
Asset Valuation Method
Discount Rate
General Inflation
Medical Trend
Mortality
Mortality Improvement Morality projected fully generational with Scale MP-2021
6.25%
CalPERS 2000-2019 experience study.
June 30, 2021
Entry Age Normal, Level Percentage of Payroll
2.50%
Non-Medicare - 6.5% for 2023, decreasing to an ultimate rate of 3.75% in 2076
Medicare (Non-Kaiser) - 5.65% for 2023, decreasing to an ultimate rate of 3.75% in 2076
Medicare (Kaiser) - 4.6% for 2023, decreasing to an ultimate rate of 3.75% in 2076
(1)Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018 was the first year of implementation. Future
years' information will be displayed up to 10 years as information becomes available.
15-year fixed period for each new base established beginning with FYE 2015 UAL.
Level percent of pay
Investment gains and losses spread over 5-year rolling period.
Methods and Assumptions for 2022/23 Actuarially Determined Contribution
Actuarially Determined Contribution
Contribution in Relation to the Actuarially Determined Contributions (2)
Contribution Deficiency (Excess)
Covered-employee payroll
Contributions as a percentage of covered-employee payroll
84 126
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85 127
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86 128
COMBINING AND INDIVUDAL FUND STATEMENTS AND
SCHEDULES
87 129
CITY OF MOORPARK, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Cash and investments 9,625,427$ 8,110,869$ 1,832,118$ 8,773$ 2,829,659$
Receivables:
Accounts 46,462 38,612 11,011 18,260 11,166
Notes and loans ----1,250,000
Accrued interest ----153,958
Due from other funds -960,447 ---
Land held for resale ----577,348
Total Assets 9,671,889$ 9,109,928$ 1,843,129$ 27,033$ 4,822,131$
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficit):
Liabilities:
Accounts payable 9,418$ 55,050$ 14,975$ 901$ 1,633$
Accrued liabilities - - 2,446 2,631 8,445
Unearned revenues 2,300,000 ----
Deposits payable ----479,413
Due to other funds -----
Total Liabilities 2,309,418 55,050 17,421 3,532 489,491
Deferred Inflows of Resources:
Unavailable revenues ----1,405,941
Total Deferred Inflows of Resources ----1,405,941
Fund Balances (Deficit):
Restricted:
Public services - - - --
Recreation services 7,362,471 ----
Public safety ---23,501 -
Low and moderate income housing ----2,926,699
Committed:
Library services - - 1,825,708 --
Assigned:
Capital projects - 9,054,878 - --
Unassigned -----
Total Fund Balances (Deficit)7,362,471 9,054,878 1,825,708 23,501 2,926,699
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficit) 9,671,889$ 9,109,928$ 1,843,129$ 27,033$ 4,822,131$
Special Revenue Funds
Parks/Public
Facilities Endowment Library Services Traffic Safety
City Affordable
Housing
88 130
CITY OF MOORPARK, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficit):
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances (Deficit):
Restricted:
Public services
Recreation services
Public safety
Low and moderate income housing
Committed:
Library services
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficit)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficit)
(CONTINUED)
124,852$ 103,441$ 17,319$ 2,869,221$ 4,563,990$
747 499 83 237,809 21,880
-----
-----
-----
-----
125,599$ 103,940$ 17,402$ 3,107,030$ 4,585,870$
-$ -$ -$ 13,813$ 52,949$
- - - 8,075 2,249
-----
----10,000
-----
---21,888 65,198
-----
-----
125,599 103,940 17,402 3,085,142 -
---- 4,520,672
-----
-----
-----
-----
-----
125,599 103,940 17,402 3,085,142 4,520,672
125,599$ 103,940$ 17,402$ 3,107,030$ 4,585,870$
Fremont Storm
Drain A.O.C.State Gas Tax
Art In Public
Places
Special Revenue Funds
Tierra
Rejada/Spring
Road A.O.C.
Casey/Gabbert
Road A.O.C.
89 131
CITY OF MOORPARK, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficit):
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances (Deficit):
Restricted:
Public services
Recreation services
Public safety
Low and moderate income housing
Committed:
Library services
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficit)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficit)
2,638,677$ 244,080$ 585,041$ 1,875,458$ 25,955$
12,739 430,722 2,861 109,996 125
-----
-----
-----
-----
2,651,416$ 674,802$ 587,902$ 1,985,454$ 26,080$
339,236$ 419,334$ -$ 7,008$ -$
6,764 2,647 -10,682 -
-280,798 504,388 --
---388,264 -
-----
346,000 702,779 504,388 405,954 -
-89,825 ---
-89,825 ---
2,305,416 -83,514 1,579,500 26,080
-----
-----
-----
-----
-----
-(117,802)---
2,305,416 (117,802)83,514 1,579,500 26,080
2,651,416$ 674,802$ 587,902$ 1,985,454$ 26,080$
Solid Waste
Walnut Canyon
Traffic Noise
State And Federal
Assistance
Local
Transportation
Transit
Prop 1B Local
Streets And
Roads
Special Revenue Funds
90 132
CITY OF MOORPARK, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficit):
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances (Deficit):
Restricted:
Public services
Recreation services
Public safety
Low and moderate income housing
Committed:
Library services
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficit)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficit)
(CONTINUED)
3,916$ 649,505$ 3,594,751$ 2,323,790$ 1,801,716$
575 3,130 18,099 11,200 8,696
-----
-----
-----
-----
4,491$ 652,635$ 3,612,850$ 2,334,990$ 1,810,412$
-$ -$ 72,940$ 1,089$ 12,712$
-----
-----
-----
960,447 ----
960,447 -72,940 1,089 12,712
-----
-----
-----
-----
-----
-----
-----
-652,635 3,539,910 2,333,901 1,797,700
(955,956)----
(955,956)652,635 3,539,910 2,333,901 1,797,700
4,491$ 652,635$ 3,612,850$ 2,334,990$ 1,810,412$
Police Facilities
Fee Capital Projects City Hall Building
Equipment
Replacement
Remain MRA
Bond Proceeds
Capital Projects Funds
91 133
CITY OF MOORPARK, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Cash and investments
Receivables:
Accounts
Notes and loans
Accrued interest
Due from other funds
Land held for resale
Total Assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances (Deficit):
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Deposits payable
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances (Deficit):
Restricted:
Public services
Recreation services
Public safety
Low and moderate income housing
Committed:
Library services
Assigned:
Capital projects
Unassigned
Total Fund Balances (Deficit)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances (Deficit)
Total
Governmental
Funds
2,181,624$ 294,781$ 46,304,963$
10,514 20,822 1,016,008
--1,250,000
--153,958
--960,447
--577,348
2,192,138$ 315,603$ 50,262,724$
-$ -$ 1,001,058$
--43,939
2,060,000 -5,145,186
--877,677
--960,447
2,060,000 -8,028,307
--1,495,766
--1,495,766
--7,326,593
-- 11,883,143
--23,501
--2,926,699
--1,825,708
132,138 315,603 17,826,765
--(1,073,758)
132,138 315,603 40,738,651
2,192,138$ 315,603$ 50,262,724$
PEG Capital Fund
ProjectDDA Settlement
Capital Projects Funds
92 134
7+,63$*(,17(17,21$//</()7%/$1.
93 135
CITY OF MOORPARK, CALIFORNIA
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Revenues:
Taxes -$ -$ 1,201,168$ -$ -$
Intergovernmental --2,870 --
Charges for services 47,078 -2,968 -7,280
Use of money and property 68,923 242,311 27,691 319 65,278
Fines and forfeitures --890 93,117 -
Miscellaneous -40,000 16,188 --
Total Revenues 116,001 282,311 1,251,775 93,436 72,558
Expenditures:
Current:
General government ---8,650 -
Public safety ---96,348 30,308
Public services -653,311 --156,921
Parks and recreation 62,542 25,000 1,003,890 --
Streets and roads -----
Capital outlay 37,099 75,495 ---
Total Expenditures 99,641 753,806 1,003,890 104,998 187,229
Excess (Deficiency) of Revenues
Over (Under) Expenditures 16,360 (471,495)247,885 (11,562)(114,671)
Other Financing Sources (Uses):
Transfers out -----
Total Other Financing Sources (Uses)-----
Net Change in Fund Balances 16,360 (471,495)247,885 (11,562)(114,671)
Fund Balances (Deficit) - Beginning 7,346,111 9,526,373 1,577,823 35,063 3,041,370
Fund Balances (Deficit) - Ending 7,362,471$ 9,054,878$ 1,825,708$ 23,501$ 2,926,699$
Endowment Library Services
Parks/Public
Facilities
City Affordable
HousingTraffic Safety
Special Revenue Funds
94 136
CITY OF MOORPARK, CALIFORNIA
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Revenues:
Taxes
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 out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficit) - Beginning
Fund Balances (Deficit) - Ending
(CONTINUED)
-$ -$ -$ -$ -$
--- 1,732,141 -
----44,267
2,498 1,669 279 26,052 76,808
-----
-----
2,498 1,669 279 1,758,193 121,075
-----
-----
-----
----109,927
---749,279 -
---41,336 98,270
---790,615 208,197
2,498 1,669 279 967,578 (87,122)
---(29,153)-
---(29,153)-
2,498 1,669 279 938,425 (87,122)
123,101 102,271 17,123 2,146,717 4,607,794
125,599$ 103,940$ 17,402$ 3,085,142$ 4,520,672$
Tierra
Rejada/Spring
Road A.O.C.
Casey/Gabbert
Road A.O.C.
Fremont Storm
Drain A.O.C.State Gas Tax
Art In Public
Places
Special Revenue Funds
95 137
CITY OF MOORPARK, CALIFORNIA
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Revenues:
Taxes
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 out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficit) - Beginning
Fund Balances (Deficit) - Ending
-$ -$ -$ -$ -$
693,007 1,337,147 292,812 9,573 -
-42,739 -493,104 -
33,071 23,648 8,338 55,303 419
-----
---102-
726,078 1,403,534 301,150 558,082 419
-----
100,000 ----
- 1,946,297 -388,316 -
---6,589-
288,117 -3,000 --
403,326 333,438 289,812 --
791,443 2,279,735 292,812 394,905 -
(65,365)(876,201)8,338 163,177 419
-----
-----
(65,365)(876,201)8,338 163,177 419
2,370,781 758,399 75,176 1,416,323 25,661
2,305,416$ (117,802)$ 83,514$ 1,579,500$ 26,080$
State And Federal
Assistance
Local
Transportation
Transit
Prop 1B Local
Streets And
Roads Solid Waste
Walnut Canyon
Traffic Noise
Special Revenue Funds
96 138
CITY OF MOORPARK, CALIFORNIA
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Revenues:
Taxes
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 out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficit) - Beginning
Fund Balances (Deficit) - Ending
(CONTINUED)
-$ -$ -$ -$ -$
-----
8,141 ----
1,647 10,473 (57,310)46,549 29,110
-----
---24,155 -
9,788 10,473 (57,310)70,704 29,110
---21,233 -
-----
-----
-----
-----
-- 1,190,326 234,977 15,507
-- 1,190,326 256,210 15,507
9,788 10,473 (1,247,636)(185,506)13,603
-----
-----
9,788 10,473 (1,247,636)(185,506)13,603
(965,744)642,162 4,787,546 2,519,407 1,784,097
(955,956)$ 652,635$ 3,539,910$ 2,333,901$ 1,797,700$
Capital Projects Funds
Police Facilities
Fee Capital Projects City Hall Building
Equipment
Replacement
Remain MRA
Bond Proceeds
97 139
CITY OF MOORPARK, CALIFORNIA
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2023
Revenues:
Taxes
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 out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficit) - Beginning
Fund Balances (Deficit) - Ending
Total
Governmental
Funds
-$ 99,398$ 1,300,566$
--4,067,550
--645,577
35,178 1,613 699,867
--94,007
--80,445
35,178 101,011 6,888,012
-45730,340
--226,656
--3,144,845
--1,207,948
--1,040,396
--2,719,586
-457 8,369,771
35,178 100,554 (1,481,759)
--(29,153)
--(29,153)
35,178 100,554 (1,510,912)
96,960 215,049 42,249,563
132,138$ 315,603$ 40,738,651$
Capital Projects Funds
DDA Settlement
PEG Capital Fund
Project
98 140
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Parks/Public Facilities Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 7,346,111$ 7,346,111$ 7,346,111$ -$
Resources (Inflows):
Intergovernmental 976,328 976,328 -(976,328)
Charges for services 793,082 793,082 47,078 (746,004)
Use of money and property 131,500 131,500 68,923 (62,577)
Amounts Available for Appropriations 9,247,021 9,247,021 7,462,112 (1,784,909)
Charges to Appropriations (Outflows):
Parks and recreation 1,370,080 1,433,270 62,542 1,370,728
Capital outlay 925,000 1,152,918 37,099 1,115,819
Total Charges to Appropriations 2,295,080 2,586,188 99,641 2,486,547
Budgetary Fund Balance, June 30 6,951,941$ 6,660,833$ 7,362,471$ 701,638$
99 141
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Endowment Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 9,526,373$ 9,526,373$ 9,526,373$ -$
Resources (Inflows):
Charges for services 1,884,000 1,884,000 -(1,884,000)
Use of money and property 364,000 364,000 242,311 (121,689)
Miscellaneous --40,000 40,000
Amounts Available for Appropriations 11,774,373 11,774,373 9,808,684 (1,965,689)
Charges to Appropriations (Outflows):
Public services 389,661 674,793 653,311 21,482
Parks and recreation -48,278 25,000 23,278
Capital outlay 1,125,132 728,830 75,495 653,335
Total Charges to Appropriations 1,514,793 1,451,901 753,806 698,095
Budgetary Fund Balance, June 30 10,259,580$ 10,322,472$ 9,054,878$ (1,267,594)$
100 142
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Library Services Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 1,577,823$ 1,577,823$ 1,577,823$ -$
Resources (Inflows):
Taxes 1,100,000 1,100,000 1,201,168 101,168
Intergovernmental --2,870 2,870
Charges for services 4,000 4,000 2,968 (1,032)
Use of money and property 32,000 32,000 27,691 (4,309)
Fines and forfeitures --890 890
Miscellaneous --16,188 16,188
Amounts Available for Appropriations 2,713,823 2,713,823 2,829,598 115,775
Charges to Appropriations (Outflows):
Parks and recreation 1,081,727 1,084,604 1,003,890 80,714
Total Charges to Appropriations 1,081,727 1,084,604 1,003,890 80,714
Budgetary Fund Balance, June 30 1,632,096$ 1,629,219$ 1,825,708$ 196,489$
101 143
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Traffic Safety Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 35,063$ 35,063$ 35,063$ -$
Resources (Inflows):
Use of money and property 5,000 5,000 319 (4,681)
Fines and forfeitures 168,000 168,000 93,117 (74,883)
Amounts Available for Appropriations 208,063 208,063 128,499 (79,564)
Charges to Appropriations (Outflows):
General government 20,400 20,400 8,650 11,750
Public safety 117,476 117,476 96,348 21,128
Total Charges to Appropriations 137,876 137,876 104,998 32,878
Budgetary Fund Balance, June 30 70,187$ 70,187$ 23,501$ (46,686)$
102 144
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
City Affordable Housing Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 3,041,370$ 3,041,370$ 3,041,370$ -$
Resources (Inflows):
Charges for services 10,000 10,000 7,280 (2,720)
Use of money and property 56,000 56,000 65,278 9,278
Amounts Available for Appropriations 3,107,370 3,107,370 3,113,928 6,558
Charges to Appropriations (Outflows):
Public safety 30,086 30,086 30,308 (222)
Public services 346,481 424,076 156,921 267,155
Total Charges to Appropriations 376,567 454,162 187,229 266,933
Budgetary Fund Balance, June 30 2,730,803$ 2,653,208$ 2,926,699$ 273,491$
103 145
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Casey/Gabbert Road A.O.C. Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 102,271$ 102,271$ 102,271$ -$
Resources (Inflows):
Use of money and property 1,000 1,000 1,669 669
Amounts Available for Appropriations 103,271 103,271 103,940 669
Budgetary Fund Balance, June 30 103,271$ 103,271$ 103,940$ 669$
104 146
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Freemont Storm Drain A.O.C. Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 17,123$ 17,123$ 17,123$ -$
Resources (Inflows):
Use of money and property 1,000 1,000 279 (721)
Amounts Available for Appropriations 18,123 18,123 17,402 (721)
Budgetary Fund Balance, June 30 18,123$ 18,123$ 17,402$ (721)$
105 147
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
State Gas Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 2,146,717$ 2,146,717$ 2,146,717$ -$
Resources (Inflows):
Intergovernmental 1,677,791 1,677,791 1,732,141 54,350
Use of money and property 15,500 15,500 26,052 10,552
Amounts Available for Appropriations 3,840,008 3,840,008 3,904,910 64,902
Charges to Appropriations (Outflows):
Streets and roads 850,820 877,113 749,279 127,834
Capital outlay 600,000 619,549 41,336 578,213
Transfers out 148,255 148,255 29,153 119,102
Total Charges to Appropriations 1,599,075 1,644,917 819,768 825,149
Budgetary Fund Balance, June 30 2,240,933$ 2,195,091$ 3,085,142$ 890,051$
106 148
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Art in Public Places Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 4,607,794$ 4,607,794$ 4,607,794$ -$
Resources (Inflows):
Charges for services 364,022 364,022 44,267 (319,755)
Use of money and property 90,000 90,000 76,808 (13,192)
Amounts Available for Appropriations 5,061,816 5,061,816 4,728,869 (332,947)
Charges to Appropriations (Outflows):
Parks and recreation 556,008 581,008 109,927 471,081
Capital outlay 347,750 347,259 98,270 248,989
Total Charges to Appropriations 903,758 928,267 208,197 720,070
Budgetary Fund Balance, June 30 4,158,058$ 4,133,549$ 4,520,672$ 387,123$
107 149
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
State and Federal Assistance Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 2,370,781$ 2,370,781$ 2,370,781$ -$
Resources (Inflows):
Intergovernmental 3,002,287 3,057,287 693,007 (2,364,280)
Use of money and property 14,000 14,000 33,071 19,071
Miscellaneous 10,000 10,000 -(10,000)
Amounts Available for Appropriations 5,397,068 5,452,068 3,096,859 (2,355,209)
Charges to Appropriations (Outflows):
Public safety 100,000 100,000 100,000 -
Streets and roads 338,108 338,108 288,117 49,991
Capital outlay 3,428,382 3,521,820 403,326 3,118,494
Total Charges to Appropriations 3,866,490 3,959,928 791,443 3,168,485
Budgetary Fund Balance, June 30 1,530,578$ 1,492,140$ 2,305,416$ 813,276$
108 150
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Local Transportation Transit Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 758,399$ 758,399$ 758,399$ -$
Resources (Inflows):
Intergovernmental 1,681,020 1,681,020 1,337,147 (343,873)
Charges for services 24,000 24,000 42,739 18,739
Use of money and property 2,000 2,000 23,648 21,648
Amounts Available for Appropriations 2,465,419 2,465,419 2,161,933 (303,486)
Charges to Appropriations (Outflows):
Public services 1,980,474 2,056,096 1,946,297 109,799
Capital outlay 171,768 450,252 333,438 116,814
Total Charges to Appropriations 2,152,242 2,506,348 2,279,735 226,613
Budgetary Fund Balance (Deficit), June 30 313,177$ (40,929)$ (117,802)$ (76,873)$
109 151
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Prop 1B Local Streets and Roads Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 75,176$ 75,176$ 75,176$ -$
Resources (Inflows):
Intergovernmental 218,655 218,655 292,812 74,157
Use of money and property 10,000 10,000 8,338 (1,662)
Amounts Available for Appropriations 303,831 303,831 376,326 72,495
Charges to Appropriations (Outflows):
Public works 3,000 3,000 3,000 -
Capital outlay 225,655 274,704 289,812 (15,108)
Total Charges to Appropriations 228,655 277,704 292,812 (15,108)
Budgetary Fund Balance, June 30 75,176$ 26,127$ 83,514$ 57,387$
110 152
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Solid Waste Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 1,416,323$ 1,416,323$ 1,416,323$ -$
Resources (Inflows):
Intergovernmental 15,000 15,000 9,573 (5,427)
Charges for services 394,700 394,700 493,104 98,404
Use of money and property 50,000 50,000 55,303 5,303
Miscellaneous 200 200 102 (98)
Amounts Available for Appropriations 1,876,223 1,876,223 1,974,405 98,182
Charges to Appropriations (Outflows):
Public services 414,264 414,264 388,316 25,948
Parks and recreation 20,000 20,000 6,589 13,411
Total Charges to Appropriations 434,264 434,264 394,905 39,359
Budgetary Fund Balance, June 30 1,441,959$ 1,441,959$ 1,579,500$ 137,541$
111 153
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Special Projects Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 27,269,952$ 27,269,952$ 27,269,952$-$
Resources (Inflows):
Use of money and property -- (150,728) (150,728)
Transfers in -- 3,562,745 3,562,745
Amounts Available for Appropriations 27,269,952 27,269,952 30,681,969 3,412,017
Charges to Appropriations (Outflows):
Capital outlay 1,065,000 1,615,000 34,181 1,580,819
Total Charges to Appropriations 1,065,000 1,615,000 34,181 1,580,819
Budgetary Fund Balance, June 30 26,204,952$25,654,952$30,647,788$1,831,198$
112 154
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Police Facilities Fee Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund (Deficit), July 1 (965,744)$ (965,744)$ (965,744)$ -$
Resources (Inflows):
Charges for services 400,522 400,522 8,141 (392,381)
Use of money and property --1,647 1,647
Amounts Available for Appropriations (565,222) (565,222) (955,956)(390,734)
Budgetary Fund (Deficit), June 30 (565,222)$ (565,222)$ (955,956)$ (390,734)$
113 155
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Capital Projects Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 642,162$ 642,162$ 642,162$ -$
Resources (Inflows):
Use of money and property 10,000 10,000 10,473 473
Amounts Available for Appropriations 652,162 652,162 652,635 473
Budgetary Fund Balance, June 30 652,162$ 652,162$ 652,635$ 473$
114 156
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Equipment Replacement Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 2,519,407$ 2,519,407$ 2,519,407$ -$
Resources (Inflows):
Use of money and property 30,000 30,000 46,549 16,549
Miscellaneous -10,000 24,155 14,155
Amounts Available for Appropriations 2,549,407 2,559,407 2,590,111 30,704
Charges to Appropriations (Outflows):
General government 200,907 200,907 21,233 179,674
Parks and recreation 3,137 6,274 -6,274
Capital outlay 420,001 666,320 234,977 431,343
Total Charges to Appropriations 624,045 873,501 256,210 617,291
Budgetary Fund Balance, June 30 1,925,362$ 1,685,906$ 2,333,901$ 647,995$
115 157
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
City Hall Building Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 4,787,546$ 4,787,546$ 4,787,546$ -$
Resources (Inflows):
Use of money and property 55,000 55,000 (57,310) (112,310)
Amounts Available for Appropriations 4,842,546 4,842,546 4,730,236 (112,310)
Charges to Appropriations (Outflows):
Capital outlay 2,316,831 5,070,693 1,190,326 3,880,367
Total Charges to Appropriations 2,316,831 5,070,693 1,190,326 3,880,367
Budgetary Fund Balance, June 30 2,525,715$ (228,147)$ 3,539,910$ 3,768,057$
116 158
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
Remain MRA Bond Proceeds
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 1,784,097$ 1,784,097$ 1,784,097$ -$
Resources (Inflows):
Use of money and property --29,110 29,110
Amounts Available for Appropriation 1,784,097 1,784,097 1,813,207 29,110
Charges to Appropriation (Outflow):
Capital outlay to 1,750,000 1,750,000 15,507 1,734,493
Total Charges to Appropriations 1,750,000 1,750,000 15,507 1,734,493
Budgetary Fund Balance, June 30 34,097$ 34,097$ 1,797,700$ 1,763,603$
117 159
CITY OF MOORPARK, CALIFORNIA
Budgetary Comparison Schedule
PEG Capital Fund
For the Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 215,049$ 215,049$ 215,049$ -$
Resources (Inflows):
Taxes 82,400 82,400 99,398 16,998
Use of money and property --1,613 1,613
Amounts Available for Appropriation 297,449 297,449 316,060 18,611
Charges to Appropriations (Outflows):
General government 15,000 15,000 457 14,543
Total Charges to Appropriations 15,000 15,000 457 14,543
Budgetary Fund Balance, June 30 282,449$ 282,449$ 315,603$ 33,154$
118 160
CITY OF MOORPARK, CALIFORNIA
Combining Statement of Fiduciary Net Position
Custodial Funds
June 30, 2023
Assets:
Cash and cash equivalents 57,595$ 2,151,351$ 2,208,946$
Receivables:
Accounts receivable -23,868 23,868
Investments at fair value:
Money market mututal funds - 2,134,561 2,134,561
Total Investments - 2,134,561 2,134,561
Capital assets:
Capital assets, not being depreciated 709,724 -709,724
Total Assets 767,319 4,309,780 5,077,099
Liabilities:
Accounts payable 34,100 -34,100
Due to bondholders - 4,309,780 4,309,780
Total Liabilities 34,100 4,309,780 4,343,880
Net Position:
Restricted for individuals, organizations, and other governments 733,219 -733,219
Total Net Position 733,219$ -$ 733,219$
Total
Assessment
Districts
Moorpark
Watershed,
Parks,
Recreation, And
Conservation
Authority
119 161
CITY OF MOORPARK, CALIFORNIA
Combining Statement of Changes in Fiduciary Net Position
Custodial Funds
For the Year Ended June 30, 2023
Additions:
Taxes and special assessments collections -$ 1,311,455$ 1,311,455$
Interest and change in fair value of investments 661 35,253 35,914
Intergovernmental 27,556 -27,556
Miscellaneous -20,903 20,903
Total Additions 28,217 1,367,611 1,395,828
Deductions:
Administrative expenses -72,807 72,807
Contractual services 3,803 -3,803
Interest expense - 397,130 397,130
Principal expense - 897,674 897,674
Payments of collections to assessment districts 41,000 -41,000
Total Deductions 44,803 1,367,611 1,412,414
Net Increase in Fiduciary Net Position (16,586)-(16,586)
Net Position - Beginning 749,805 4,240,186 4,989,991
Restatement of Net Position - (4,240,186)(4,240,186)
Net Position - Beginning, as Restated 749,805 -749,805
Net Position - Ending 733,219$ -$ 733,219$
Total
Moorpark
Watershed,
Parks,
Recreation, And
Conservation
Authority
Assessment
Districts
120 162
STATISTICAL SECTION
121 163
THIS PAGE INTENTIONALLY LEFT BLANK
122 164
Contents Page
Financial Trends
124
Revenue Capacity
132
Debt Capacity
137
Demographic and Economic Information
143
Operating Information
145
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.
These tables provide information regarding the City's operations and resources in
order to help the reader gain knowledge about how the City's financial statistics
relate to the services the City provides.
Statistical Section
This part of the City of Moorpark ACFR 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.
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
These tables contain information regarding the City's largest own-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.
123 165
2014 2015 2016 2017 2018
Governmental activities:
Net Investment in Capital Assets 259,798,991$ 260,051,061$ 259,824,449$ 265,474,327$ 262,137,083$
Restricted 86,007,374 89,502,603 94,421,242 91,919,782 66,958,288
Unrestricted 15,521,233 22,642,705 23,579,979 23,886,449 55,570,929
Total governmental activities net position 361,327,598$ 372,196,369$ 377,825,670$ 381,280,558$ 384,666,300$
The City of Moorpark does not have any business-type activities.
Source: City of Moorpark
CITY OF MOORPARK
Net Position by Component
Last Ten Fiscal Years
(Accrual basis of accounting)
Fiscal Year
124 166
2019 2020 2021 2022 2023
Governmental activities:
Net Investment in Capital Assets 259,942,720$ 260,143,811$ 257,538,275$ 264,604,889$ 281,147,048$
Restricted 71,335,867 74,141,650 74,205,140 71,132,063 64,204,849
Unrestricted 53,057,670 52,340,369 55,433,067 62,684,202 56,316,135
Total governmental activities net position 384,336,257$ 386,625,830$ 387,176,482$ 398,421,154$ 401,668,032$
Fiscal Year
(Accrual basis of accounting)
Last Ten Fiscal Years
Net Position by Component
CITY OF MOORPARK
125 167
2014 2015 2016 2017 2018
Expenses:
General government 2,163,246$ 1,212,685$ 795,671$ 3,301,931$ 1,980,131$
Public safety 6,882,753 7,024,242 7,614,298 9,225,826 10,870,950
Public services 11,779,873 11,558,575 12,162,933 9,613,028 4,771,248
Parks and recreation 6,032,005 5,614,080 7,117,157 6,764,333 8,845,066
Streets and Roads - - - 274,257 4,556,851
Interest on long-term debt - - - 23,347 21,385
Total governmental activities expenditures 26,857,877 25,409,582 27,690,059 29,202,722 31,045,631
Program revenues:
Charges for services:
General government 1,474,249 1,463,859 685,537 960,934 1,144,176
Public safety 2,657,332 3,325,404 1,970,207 2,623,885 954,599
Public services 7,815,032 10,471,498 5,026,698 6,499,441 2,292,214
Parks and recreation 1,913,045 3,119,649 2,378,698 3,810,319 3,908,952
Streets and Roads - - - - 1,014,544
Total charges for services 13,859,658 18,380,410 10,061,140 13,894,579 9,314,485
Operating contributions and grants 4,364,461 4,049,606 3,943,429 2,209,535 3,463,350
Capital contributions and grants 2,010,143 4,636,843 2,014,302 1,243,383 1,946,022
Total governmental activities
program revenues 20,234,262 27,066,859 16,018,871 17,347,497 14,723,857
Net program revenues (expenditures)(6,623,615) 1,657,277 (11,671,188) (11,855,225) (16,321,774)
General revenues and other changes in net assets:
Taxes:
Property tax 6,841,765 7,638,300 7,923,937 9,332,969 9,545,738
Franchise tax 1,222,759 1,284,268 1,276,932 1,559,634 1,249,789
Sales tax 2,695,884 2,749,320 3,316,402 3,854,408 4,291,309
Sales tax in lieu 1,089,362 896,527 730,083 - -
Motor vehicle in lieu 15,942 15,399 14,415 - -
Investment income 1,153,683 1,116,545 2,447,983 347,582 997,189
Other 492,755 687,525 1,592,693 215,621 401,083
Total governmental activities 13,512,150 14,387,884 17,302,445 15,310,214 16,485,108
Changes in net position -
governmental activities 6,888,535$ 16,045,161$ 5,631,257$ 3,454,989$ 163,334$
Source: City of Moorpark
CITY OF MOORPARK
(Accrual basis of accounting)
Last Ten Fiscal Years
Statement of Activities (Condensed)
Fiscal Year
126 168
2019 2020 2021 2022 2023
Expenses:
General government 3,878,000$ 2,183,910$ 4,025,395$ 596,730$ 6,483,210$
Public safety 9,327,889 9,122,565 8,499,956 8,373,652 9,352,962
Public services 4,714,035 5,957,380 6,002,877 3,188,944 8,932,996
Parks and recreation 8,300,859 8,948,370 9,161,021 6,314,692 11,281,727
Streets and Roads 6,477,208 3,340,421 4,680,444 2,566,854 3,566,985
Interest on long-term debt - - - - -
Total governmental activities expenditures 32,697,991 29,552,646 32,369,693 21,040,872 39,617,880
Program revenues:
Charges for services:
General government 634,694 691,952 635,278 2,758,039 618,705
Public safety 400,544 468,675 571,603 323,095 553,031
Public services 1,882,043 1,312,533 1,559,765 1,630,855 1,906,484
Parks and recreation 3,404,486 3,529,892 4,015,894 4,423,763 4,681,290
Streets and Roads 117,707 12,301 29,388 6,378 110,717
Total charges for services 6,439,474 6,015,353 6,811,928 9,142,130 7,870,227
Operating contributions and grants 3,708,488 4,034,116 5,048,480 3,824,903 4,706,040
Capital contributions and grants 100,006 - 2,067,003 2,392,532 2,243,907
Total governmental activities
program revenues 10,247,968 10,049,469 13,927,411 15,359,565 14,820,174
Net program revenues (expenditures)(22,450,023) (19,503,177) (18,442,282) (5,681,307) (24,797,706)
General revenues and other changes in net assets:
Taxes:
Property tax 10,168,691 10,318,021 11,034,537 11,265,702 11,826,418
Transient occupancy taxes - - 176,235 391,325 490,979
Franchise tax 1,281,901 1,556,500 1,500,325 2,170,631 1,729,739
Sales tax 4,336,676 4,040,141 4,575,526 5,219,884 4,948,566
Motor vehicle in lieu - - - - -
Investment income 5,257,540 5,412,223 1,240,500 (2,637,465) 2,607,972
Other 1,075,172 360,564 465,811 515,902 897,569
Total governmental activities 22,119,980 21,687,449 18,992,934 16,925,979 22,501,243
Changes in net position -
governmental activities (330,043)$ 2,184,272$ 550,652$ 11,244,672$ (2,296,463)$
CITY OF MOORPARK
Statement of Activities (Condensed)
Last Ten Fiscal Years
(Accrual basis of accounting)
Fiscal Year
127 169
2014 2015 2016 2017 2018
General fund:
Nonspendable 635,899$ 660,077$ 154,863$ 158,857$ 70,741$
Emergency contingency reserve ---- 3,429,259
Unassigned 3,000,000 2,999,941 2,865,439 3,011,336 999,726
Total general fund 3,635,899$ 3,660,018$ 3,020,302$ 3,170,193$ 4,499,726$
All other governmental funds:
Fund Balances:
Nonspendable 10,253,789$ 10,363,316$ 9,017,847$ 158,857$ 5,711$
Restricted 49,389,385 54,572,775 57,941,616 61,977,366 61,173,545
Committed 698,395 711,399 736,185 847,588 888,556
Assigned 36,190,577 42,221,565 47,613,826 50,386,413 49,480,362
Unassigned (1,825,187)(1,604,570)(1,503,658)1,797,897 (1,158,870)
Total all other governmental funds 94,706,959$ 106,264,485$113,805,816$115,168,121$110,389,304$
Source: City of Moorpark
(Modified accrual basis of accounting)
Last Ten Fiscal Years
Fund Balances of Governmental Funds
CITY OF MOORPARK
Fiscal Year
128 170
2019 2020 2021 2022 2023
General fund:
Nonspendable 335,920$ 54,015$ 6,332$ 724,965$ 5,553$
Emergency contingency reserve 3,675,000 3,827,188 3,950,216 4,150,000 4,472,402
Economic uncertainty -- 500,000 500,000 500,000
Unassigned 831,117 1,133,240 1,000,000 1,000,000 1,494,350
Total general fund 4,842,037$ 5,014,443$ 5,456,548$ 6,374,965$ 6,472,305$
All other governmental funds:
Fund Balances:
Nonspendable -$ 360$ 1,160$ -$ -$
Restricted 64,611,317 67,417,100 67,584,815 64,342,084 55,312,487
Committed 1,027,756 1,263,990 1,457,695 1,577,823 1,825,708
Assigned 46,686,676 46,740,902 50,339,586 46,841,546 48,474,553
Unassigned (1,106,538)(1,102,010)(968,436)(890,568)(1,182,837)
Total all other governmental funds 111,219,211$114,320,342$118,414,820$111,870,885$104,429,911$
CITY OF MOORPARK
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
Fiscal Year
129 171
2014 2015 2016 2017 2018
Revenues:
Taxes 12,931,981$13,688,319$14,417,009$14,816,810$15,086,944$
Licenses and permits 1,279,619 1,249,964 1,109,136 1,258,680 921,448
Fines and forfeitures 425,844 384,288 471,684 493,607 448,822
Uses of money and property 1,533,697 1,512,399 2,968,575 763,001 997,189
Charges for services 10,785,334 15,951,226 8,121,521 8,519,922 5,677,086
Intergovernmental 3,257,823 5,246,632 3,584,007 2,765,226 3,478,963
Maintenance assessments 2,159,121 2,487,047 2,737,711 3,015,980 2,453,264
Other 438,612 445,197 1,443,805 774,632 4,245,928
Total revenues 32,812,031 40,965,072 34,853,448 32,407,858 33,309,644
Expenditures:
Current:
General government 1,746,028 2,495,775 1,423,174 2,863,214 5,248,464
Public safety 6,643,550 6,789,765 6,999,561 8,496,995 8,924,343
Public services 9,126,851 10,468,227 9,254,464 6,852,118 5,526,289
Parks and recreation 5,360,424 5,732,314 6,089,350 5,711,596 9,348,196
Streets and Roads --- 259,546 3,647,853
Capital outlay 1,574,615 3,892,870 4,163,202 9,859,039 894,814
Debt service:
Interest -4,476 22,082 23,347 -
Total expenditures 24,451,468 29,383,427 27,951,833 34,065,855 33,589,959
Excess of revenues over
expenditures 8,360,563 11,581,645 6,901,615 (1,657,997)(280,315)
Other financing sources (uses):
Transfers in 4,718,044 7,365,629 6,115,233 3,961,767 6,919,757
Transfers out (4,718,044)(7,365,629)(6,115,233)(3,961,767)(6,919,757)
Net change in fund balances 8,360,563$11,581,645$6,901,615$(1,657,997)$(280,315)$
Debt service as a percentage of
noncapital expenditures 0.0% 0.0% 0.1% 0.1% 0.0%
Source: City of Moorpark
Fiscal Year
(Modified accrual basis of accounting)
Last Ten Fiscal Years
Changes in Fund Balances of Governmental Funds
CITY OF MOORPARK
130 172
2019 2020 2021 2022 2023
Revenues:
Taxes 15,787,268$15,914,662$17,286,623$19,047,542$18,995,702$
Licenses and permits 496,322 567,019 698,314 756,919 575,480
Fines and forfeitures 379,836 290,458 182,093 195,069 207,140
Uses of money and property 5,257,540 5,412,223 1,240,500 (2,637,465)2,607,972
Charges for services 2,766,456 2,167,662 3,019,356 2,310,850 3,242,748
Intergovernmental 3,711,525 4,037,692 5,056,994 4,055,792 4,246,107
Maintenance assessments 2,453,623 2,999,658 3,084,502 3,497,392 3,535,370
Assessments --- 2,168,944 86,555
Other 2,999,531 2,390,465 2,497,184 2,657,198 2,848,664
Total revenues 33,852,101 33,779,839 33,065,566 32,052,241 36,345,738
Expenditures:
Current:
General government 3,818,450 3,687,416 3,547,665 3,680,410 4,138,117
Public safety 8,396,009 8,817,965 8,189,949 8,625,418 8,772,418
Public services 4,536,265 5,410,277 5,522,339 5,798,702 6,783,694
Parks and recreation 7,845,819 7,678,142 7,845,625 8,164,730 8,793,200
Streets and Roads 4,382,822 1,302,518 2,458,685 1,243,287 1,221,379
Capital outlay 3,682,721 3,715,285 964,720 10,165,212 12,777,839
Debt service:
Interest 17,797 ----
Total expenditures 32,679,883 30,611,603 28,528,983 37,677,759 42,486,647
Excess of revenues over
expenditures 1,172,218 3,168,236 4,536,583 (5,625,518)(6,140,909)
Other financing sources (uses):
Transfers in 8,078,411 6,143,388 6,555,764 16,351,708 6,108,315
Transfers out (8,078,411)(6,143,388)(6,555,764)(16,351,708)(6,108,315)
Net change in fund balances 1,172,218$3,168,236$4,536,583$(5,625,518)$(6,140,909)$
Debt service as a percentage of
noncapital expenditures 0.1% 0.0% 0.0% 0.0% 0.0%
CITY OF MOORPARK
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
Fiscal Year
131 173
Fiscal Year Taxable Taxable Total
Ended Less: Assessed Less: Assessed Direct Tax
June 30 Secured Unsecured Exemptions Value Secured Unsecured Exemptions Value Rate
2014 4,718,569,672$ 119,712,860$ 45,054,167$ 4,793,228,365$ 878,368,970$ 70,500,448$ 4,423,367$ 944,446,051$ 0.095%
2015 5,042,223,024 123,500,500 45,844,355 5,119,879,169 909,850,372 74,847,964 7,970,727 976,727,609 0.095%
2016 5,333,705,999 122,090,764 73,812,980 5,381,983,783 1,040,390,804 73,089,277 34,190,142 1,079,289,939 0.094%
2017 5,654,428,902 115,219,381 76,811,398 5,692,836,885 1,042,974,399 63,588,301 35,131,954 1,071,430,746 0.094%
2018 5,917,959,303 111,655,537 79,489,965 5,950,124,875 1,063,872,300 60,597,760 35,953,063 1,088,516,997 0.094%
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%
2020 6,456,855,389 128,549,885 81,698,017 6,503,707,257 1,148,557,959 63,713,319 36,916,795 1,175,354,483 0.094%
2021 6,568,841,578 131,087,687 94,694,332 6,605,234,933 1,105,547,952 65,488,950 47,422,995 1,123,613,907 0.094%
2022 6,848,341,235 127,077,409 95,420,514 6,879,998,130 1,217,244,331 60,835,964 47,796,422 1,230,283,873 0.094%
2023 7,241,437,885 137,049,323 81,619,853 7,296,867,355 1,284,136,945 57,551,701 48,833,806 1,292,854,840 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.
132 174
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
1 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000
0.03270 0.03290 0.03180 0.03200 0.02130 0.02090 - - --
- - - - - - 0.02220 0.02880 0.03170 0.02860
0.00350 0.00350 0.00350 0.00350 0.00350 0.00350 0.00350 0.00350 0.00350 0.00350
0.03950 0.05550 0.06920 0.06540 0.06540 0.06680 0.05730 0.05980 0.05900 0.04020
0.01670 0.01760 0.01300 0.01550 0.01510 0.01520 0.01430 0.01500 0.01480 0.01420
2 1.09240 1.10950 1.11750 1.11640 1.10530 1.10640 1.09730 1.10710 1.10900 1.08650
3 0.09078 0.09078 0.09078 0.09078 0.09078 0.09078 0.09078 0.09078 0.09078 0.09078
----------
4 ----------
5 0.09508 0.09498 0.09447 0.09422 0.09406 0.09401 0.09413 0.09417 0.09417 0.09419
Notes:
1
2
3
4
5
Sources: HdL Companies
Ventura County Assessor's Office
Conejo Valley Unified
School District
Basic Levy
CITY OF MOORPARK
Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years
(Rate per $100 of assessed value)
Last Ten Fiscal Years
Redevelopment Rate
General Obligation Debt Rate
City's Share of 1% Levy
per Prop 13
Total Direct Rate
Conejo Valley Unified School
Bond #2
Total Direct &
Overlapping Tax Rates
Moorpark Unified
School District
Ventura Community
College District
Metropolitan Water District
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 is based on the City's share of the general fund tax rate area with the larges net taxable value within the city. ERAF general fund
tax shifts may not be included in tax ratio figures.
Redevelopment rates is based on the largest RDA tax rate area and only includes rate(s) from indebtedness adopted prior to 1989 per California State
statute. RDA direct and overlapping rates are applied only to the incremental property values. The approval of Abx1 26 eliminated redevelopment from
the State of California for the fiscal year 2012/13 and years thereafter.
Total Direct Rates is the weighted average of all individual direct rates applied to by the government preparing the statistical section information and
excludes revenues derived from aircraft. Beginning in 2013/14 the Total Direct Rate no longer includes revenue generated from the former
redevelopment tax rate areas. Challenges to recognized enforceable obligations are assumed to have been resolved during 2012/13. For the purposed
of this report, residual revenue is assumed to be distributed to the City in the same proportions as general fund revenue.
133 175
Percent of Total Percent of Total
Taxable City Taxable Taxable City Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value*Value Value*Value
NF Moorpark Multifamily Association 98,600,178$ 1.35%
DBRE Moorpark LLC 73,122,239$ 1.50 %
Waterstone Properties Moorpark LLC 81,066,505 1.11% 69,933,039 1.43 %
Moorpark Center LLC 52,552,266 0.72% 44,719,000 0.92 %
ASVRF Condor Moorpark Co.50,470,000 0.69%
Ensign-Bickford Aerospace 35,252,500 0.48%
MB Plaza East/West LLC 34,118,321 0.47%
CREF3 Big Box Moorpark Owner 32,648,334 0.45%
ROIC California LLC 32,356,773 0.44%
Toll Land XIX LP 31,378,569 0.64 %
Village at Moorpark Properties O LP 21,296,944 0.29% 30,503,063 0.62 %
EB West Properties Inc 22,888,798 0.47 %
Tuscany Square Partners LLC 22,693,311 0.46 %
G-S Partnership 22,413,963 0.46 %
Mission Bell West L P 22,125,629 0.45 %
James Birkenshaw Etal Lessor 20,739,384 0.42 %
Moorpark Condor Properties LP 20,264,618 0.28%
Top Ten Total 458,626,439$6.29% 360,516,995$7.38 %
City Total 7,296,867,355$4,883,679,699$
* Due to varying tax rates, the assessed value does not necessarily mean the highest tax.
Source: HdL Companies
2013-14
Current Year and Nine Years Ago
Principal Property Taxpayers
CITY OF MOORPARK
2022-23
134 176
Collections
Fiscal Taxes Levied from
Year Ended for the Percent Previous Percent
June 30 Fiscal Year Amount of Levy Years Amount of Levy
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 4,772,716 95.8 %
2020 5,233,661 4,860,536 92.9 % 157,636 5,018,172 95.9 %
2021 5,255,243 5,005,403 95.2 % 184,120 5,189,523 98.7 %
2022 5,397,594 5,124,071 94.9 % 194,348 5,318,419 98.5 %
2023 5,728,153 5,423,484 94.7 % 181,945 5,605,429 97.9 %
Note:
The amount presented includes City property tax only; does not include redevelopment tax increment.
Source: Ventura County Assessor's Office
Total Collections
CITY OF MOORPARK
Secured Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal Year of Levy
Collected within the
135 177
2022-23 2013-14
76 Campus Plaza Shell
Aqua Flo Supply Command Performance Catering
Arco Dick's Sporting Goods
Campus Plaza Shell In N Out Burgers
Command Performance Catering Integrated Control Systems
7 Eleven J W Mills Management
In N Out Kahoots Feed & Supply
Kahoots Pet Store Kohls
Kohls McDonalds
McDonalds Moorpark 76
Moorpark 76 Moorpark Auto Spa & Lube
Moorpark Chevron Moorpark Chevron
Pentair Pool Products Moorpark Petroleum
Peter Lars National Ready Mixed Concrete
Pool & Electrical Products Pentair Pool Products
Ralphs Ralphs
Simi Valley Harley Davidson Simi Valley Harley Davidson
Target Target
Testequity Tesoro Refining & Marketing
TJ Maxx Testequity
Tom Lindstrom RV TJ Maxx
Tractor Supply Tom Lindstrom RV
Vons Vons
Warehouse Discount Center Warehouse Discount Center
Wood Ranch Wood Ranch BBQ Grill
Source: HdL Companies
CITY OF MOORPARK
Principal Sales Tax Remitters
Listed Alphabetically
Current Year and Nine Years Ago
136 178
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
2014 ----0%-
2015 ----0%-
2016 ----0%-
2017 ----0%-
2018 ----0%-
2019 ----0%-
2020 ----0%-
2021 ----0%-
2022 ----0%-
2023 ----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 $11,695,000 in 2006.
Tax Allocation Bonds are the debt of the Successor Agency and not a part of the City.
2 These ratios are calculated using personal income and population for the prior calendar year.
Governmental Activities
CITY OF MOORPARK
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
137 179
Fiscal Year General Tax Percent of
Ended Obligation Allocation Assessed Per
June 30 Bonds Bonds 1 Total Value Capita
2014 ---- %-
2015 ---- %-
2016 ---- %-
2017 ---- %-
2018 ---- %-
2019 ---- %-
2020 ---- %-
2021 ---- %-
2022 ---- %-
2023 ---- %-
General bonded debt is debt payable with governmental fund resources and general
obligation bonds recorded in enterprise funds (of which, the City has none).
1 Tax Allocation Bonds are the debt of the Successor Agency and not a part of the City.
Outstanding General Bonded Debt
CITY OF MOORPARK
Ratio of General Bonded Debt Outstanding
Last Ten Fiscal Years
138 180
City Assessed Valuation 2022-23 7,297,884,655$
Redevelopment Agency Incremental Valuation 1,029,298,068
Adjusted Assessed Valuation 6,268,586,587$
Estimated
Share of
Percentage Debt as of Overlapping
Applicable (1)6/30/2023 Debt
Direct and Overlapping Tax and Assessment Debt:
Metropolitan Water District 0.201 % 19,215,000$ 38,622$
Ventura Community College District 4.474 % 244,336,692 10,931,624
Conejo Valley Unified School District 0.013 % 143,845,691 18,700
Moorpark Unified School District 93.622 % 34,606,331 32,399,139
City of Moorpark 100.000 %--
City of Moorpark Community Facilities District No. 97-1 100.000 %2,185,000 2,185,000
City of Moorpark Community Facilities District No. 2004-1 100.000 %7,325,000 7,325,000
City of Moorpark 1915 Act Bonds 100.000 %140,000 140,000
Total Direct and Overlapping Tax & Assessment Debt 53,038,085
Overlapping General Fund Obligation Debt:
Ventura County General Fund Obligations 4.473 % 289,520,000 12,950,230
Ventura County Superintendent of Schools COPs 4.473 %7,350,000 328,766
Moorpark Unified School District COPs 93.622 %2,129,991 1,994,140
Total Overlapping General Fund Obligation Debt 15,273,136
Overlapping Tax Increment Debt (Successor Agency):100.000 % 17,825,000 17,825,000
Total Overlapping Debt 86,136,221 (2)
Combined Total Debt 86,136,221$
(2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations.
Ratios to 2022-23 Assessed Valuation:
Direct Debt 0.00%
Total Direct and Overlapping Tax and Assessment Debt 0.73%
Combined Total Debt 1.18%
Ratios to Redevelopment Successor Agency Incremental Valuation ($1,029,298,068):
Total Overlapping Tax Increment Debt 1.73%
Source: Avenu Insights & Analytics and California Municipal Statistics, Inc.
CITY OF MOORPARK
Direct and Overlapping Debt
(1) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable percentages were
estimated by 'determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's total
taxable assessed value.
139 181
2014 2015 2016 2017 2018
Assessed valuation 4,718,569,672$5,042,223,024$5,333,705,999$5,654,428,902$5,917,959,303$
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation 1,179,642,418 1,260,555,756 1,333,426,500 1,413,607,226 1,479,489,826
Debt limit percentage 15%15%15%15%15%
Debt limit 176,946,363 189,083,363 200,013,975 212,041,084 221,923,474
Legal debt margin 176,946,363$189,083,363$200,013,975$212,041,084$221,923,474$
Total debt applicable to the limit
as a percentage of debt limit 0.0% 0.0% 0.0% 0.0% 0.0%
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.
Source: City of Moorpark, HdL
Ventura County Tax Assessor's Office
CITY OF MOORPARK
Legal Debt Margin Information
Last Ten Fiscal Years
140 182
2019 2020 2021 2022 2023
Assessed valuation 6,217,467,935$6,456,855,389$6,568,841,578$6,848,341,235$7,241,437,885$
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation 1,554,366,984 1,614,213,847 1,642,210,395 1,712,085,309 1,810,359,471
Debt limit percentage 15%15%15%15%15%
Debt limit 233,155,048 242,132,077 246,331,559 256,812,796 271,553,921
Legal debt margin 233,155,048$242,132,077$246,331,559$256,812,796$271,553,921$
Total debt applicable to the limit
as a percentage of debt limit 0.0% 0.0% 0.0% 0.0% 0.0%
CITY OF MOORPARK
Legal Debt Margin Information
Last Ten Fiscal Years
141 183
Fiscal Year
Ended Tax
June 30 Increment Principal Interest Coverage
2014 --- n/a
2015 --- n/a
2016 --- n/a
2017 --- n/a
2018 --- n/a
2019 --- n/a
2020 --- n/a
2021 --- n/a
2022 --- n/a
2023 --- n/a
Notes:
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.
Note: Details regarding Moorpark Redevelopment Agency outstanding debt can be
found in the notes to the financial statements. Operating expenses do not include interest
or depreciation expenses.
Tax Allocation Bonds
Debt Service
CITY OF MOORPARK
Pledged-Revenue Coverage
Last Ten Fiscal Years
142 184
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
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 %
2019 36,278 1,608,203 44,329 2.9 %37.6 89.5 % 42.3 %
2020 35,981 1,682,243 46,753 7.5 %39.0 90.9 % 44.7 %
2021 35,399 1,765,112 49,863 5.0 %39.7 91.8 % 45.8 %
2022 35,151 1,772,501 50,425 2.9 %38.8 91.1 % 43.1 %
Source: HdL Companies
CITY OF MOORPARK
Demographic and Economic Statistics
Last Ten Calendar Years
143 185
Percent of Percent of
Number of Total Number of Total
EMPLOYER Employees Employment Employees Employment
Pennymac 940 5.0 %1,117 6.2 %
Moorpark Unified School District 868 4.6 %841 4.7 %
Pentair Water Pool & Spa 750 4.0 %530 3.0 %
Moorpark College 738 3.9 %627 3.5 %
Kretek 315 1.7 %- -
Ensign-Bickford Aerospace & Defense Company 260 1.4 %126 0.7 %
North American Services-Command Performance Catering 240 1.3 %- -
Amazon Retail, Inc.200 1.1 %- -
Target Stores - -170 0.9 %
Lifetech Resources 200 1.1 %- -
Benchmark Electronics Manufacturing Solutions - -275 1.5 %
Kavlico - -390 2.2 %
Test Equity 165 0.9 %121 0.7 %
Total Top 10 Employers 4,676 25.0 %4,197 23.4 %
Total City Employment 18,600 17,900
Results based upon direct correspondence with City's local businesses.
Total Employment as used above represents the total employment of all employers located within City limits.
Total City Employment provided by Employment Development Department data updated September of each year.
Sources: City of Moorpark, local businesses
State of California, Employment Development Department
TOTAL CITY EMPLOYMENT 18700 17900
2023 2014
CITY OF MOORPARK
Principal Employers
Current Year and Nine Years Ago
144 186
Function 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
General government 27 26 25 31 26 32 35 30 31 32
Public safety (crossing guards)3322222 2 2 2
Public services 19 22 19 17 16 14 15 12 13 25
Parks and recreation 75 70 57 74 78 71 73 50 57 82
Total 124 121 103 124 122 119 125 94 103 141
Public safety 1 40 40 40 40 40 40 40 43 43 43
1 Police and fire services were provided by the County.
Source: City of Moorpark
CITY OF MOORPARK
Full-Time and Part-Time City Employees
by Function
Last Ten Fiscal Years
145 187
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Police: (A)
Arrests 1,148 938 966 1,139 1,531 1,498 2,447 1,239 919 885
Parking citations issued *2,736 3,117 4,582 5,841 6,419 6,436 4,645 2,133 2663 1966
Fire: (B)
Number of "prime" emergency calls 1,835 1,996 2,026 2,107 2,145 2,179 2,430 2,265 2313 2684
Business Inspections 500 694 727 443 390 196 106 114 216 164
Public works: (C)
Street resurfacing (miles)- - - - 0.7 - - - - -
Parks and recreation: (D)
Number of recreation classes*265 303 295 314 396 403 171 290 365 347
Number of facility rentals*103 248 287 405 301 398 103 31 105 102
Prime calls and business inspections are for County of Ventura, Fire department station #42
* Parking citations have declined in past two years due to COVID impacts and staffing reductions of cadets assigned to citation issuance.
Source: City of Moorpark
CITY OF MOORPARK
Operating Indicators
by Function
Last Ten Fiscal Years
146 188
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Police:
Stations 1111111 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 85 85
Streetlights 2,620 2,620 2,620 2,620 2,620 2,620 2,619 2,619 2619 2619
Traffic signals 21 21 22 22 22 22 22 22 22 22
Parks and recreation:
Parks 18191919191919 19 19 19
Community centers 2 2 2 2 2 2 2 2 2 2
Source: City of Moorpark
CITY OF MOORPARK
Capital Asset Statistics
by Function
Last Ten Fiscal Years
147 189
The cover features a photograph of the Moorpark Country Club Golf Course located at
11800 Championship Drive, Moorpark, Ca 93021. Photograph taken by Melissa Fargo.
148 190
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(714) 569-1000
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(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
INDEPENDENT AUDITORS’ REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON
COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN
ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States, the financial statements of the governmental activities, each major fund,
and the aggregate remaining fund information of City of Moorpark, California (the “City”), as of and for the year
ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the City’s basic
financial statements, and have issued our report thereon dated February 19, 2024.
Report on Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control over
financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the
circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of
expressing an opinion on the effectiveness of the City’s internal control. Accordingly, we do not express an opinion
on the effectiveness of the City’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements, on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal
control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements
will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a
combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough
to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and
was not designed to identify all deficiencies in internal control that might be material weaknesses or significant
deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified. We
identified a certain deficiency in internal control, described in the accompanying schedule of findings and responses
as item 2023-001 that we consider to be material weakness.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free from material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements, noncompliance with which could have a direct and material effect on the financial statements.
However, providing an opinion on compliance with those provisions was not an objective of our audit, and
accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance
or other matters that are required to be reported under Government Auditing Standards.
ATTACHMENT 2
191
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
City of Moorpark’s Response to Findings
Government Auditing Standards requires the auditor to perform limited procedures on the City’s response to the
findings identified in our audit and described in the accompanying schedule of findings and responses. The City’s
response was not subjected to the other auditing procedures applied in the audit of the financial statements and,
accordingly, we express no opinion on the response.
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the
results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control or on
compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards
in considering the City’s internal control and compliance. Accordingly, this communication is not suitable for any
other purpose.
Brea, California
February 19, 2024
192
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
SCHEDULE OF FINDINGS AND RESPONSES
Reference Number
2023-001
Evaluation of Finding
Material Weakness – Financial Reporting
Condition
During the audit, we found the following conditions that resulted in significant audit adjustments to the financial
statements:
Accuracy in External Financial Reporting
The year-end closing process was not thorough and did not ensure that account balances were reconciled and
accurate in advance of the audit requiring a significant number of adjusting journal entries to correct the final
financial statements. It appears these errors were primarily caused by the trial balance being prepared from data
that was not always complete, contained errors and appropriate year-end reconciliations had not been performed.
Capital Assets
For the year ended June 30, 2023, the City had adjustments due to missed capitalization of improvements,
purchases of land and depreciation. It was identified that the City’s current internal control process did not previously
identify these missed classifications and ensure assets are being properly recorded. This resulted in a restatement
of $6,856,350 in the Statement of Activities in the current year.
Unavailable Revenues
Adjustments in the amount of $1,202,725 under the Low-Mod Income Housing Asset special revenue fund to correct
the unavailable revenue balances. This is to correct the excess/surplus balance moving forward. A restatement will
be shown under the other governmental funds.
Criteria
Management is responsible for the preparation and fair presentation, as well as the accuracy of its financial
statements, including disclosures in accordance with accounting principles generally accepted in the United States
of America. This includes the design, implementation, and maintenance of internal controls relevant to the
preparation and fair presentation of financial statements that are free from material misstatement, whether due to
error or fraud.
Cause of Condition
The City has experienced significant turnover in key personnel in the City’s finance department in past years. Absent
robust accounting policies and procedures, when vacancies occur, information can be lost and as individuals are
getting up to speed, some processes may not be fully executed if they are manual and not fully embedded into an
automated system.
Effect or Potential Effect of Condition
Due to limited staffing levels faced by the City during the audit period ended June 30, 2023, internal controls were
either lacking, were not designed properly, and mitigating controls were not sufficient to effectively identify
misstatements due to error.
In addition, the City did not have in place a systematic method for ensuring that timely and complete year-end
closing procedures were in operation before presenting the audit program to the auditors, resulting in a number of
journal entries made to correct or to reclassify balances in the financial statements that should normally be captured
through the closing process. Those adjustments have been reported and posted by the City.
193
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
Recommendation
The Finance Department should look at increasing the amount of experienced finance staff to help facilitate
year-end closing procedures. The City should also put in place formalized year-end close procedures to ensure the
close is complete and reduce the amount of journal entries needed and errors found after the closing process has
been completed. We suggest management also establish effective review policies and procedures, including but
not limited to: apply analytical procedures on the trial balance numbers and perform reconciliations of all significant
accounts.
Client Response
The City has had staff turnover in staffing the last few years and has caused some issues in reconciliation and
timing. To ensure accuracy and completeness, there is one person designated for reviewing all activity related to
fixed assets. The City is also planning on reviewing activity throughout the year to ensure items are accounted for
in a timely manner. This issue is expected to be resolved in FY23/24.
194
1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
INDEPENDENT ACCOUNTANTS’ REPORT ON AGREED-UPON
PROCEDURES APPLIED TO APPROPRIATIONS LIMIT WORKSHEETS
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
We have performed the procedures enumerated below on the accompanying Appropriations Limit
Worksheet No. 6 (or other alternative computation) of the City of Moorpark, California, for the
year ended June 30, 2023. These procedures are the responsibility of the City, which were agreed to by
the City of Moorpark and the League of California Cities (as presented in the publication entitled Agreed-
Upon Procedures Applied to the Appropriations Limitation Prescribed by Article XIII-B of the California
Constitution), were performed solely to assist the City of Moorpark in meeting the requirements of Section
1.5 of Article XIII-B of the California Constitution. The City of Moorpark's management is responsible for
the Appropriations Limit Worksheet No. 6 (or other alternative computation).
The City has agreed to and acknowledged that the procedures performed are appropriate to meet the
intended purpose of recomputing the Appropriations Limit Worksheet No. 6 (or other alternative
computation). This report may not be suitable for any other purpose. The procedures performed may not
address all the items of interest to a user of this report and may not meet the needs of all users of this
report and, as such, users are responsible for determining whether the procedures performed are
appropriate for their purposes.
The procedures performed and our findings were as follows:
1. We obtained the completed Worksheets No. 1 through No. 7 (or other alternative computations) and
compared the limit and annual adjustment factors included in those worksheets to the limit and
annual adjustment factors that were adopted by resolution of the City Council. We also compared the
population and inflation options included in the aforementioned worksheets to those that were
selected by a recorded vote of the City Council.
Finding: No exceptions were noted as a result of our procedures.
2. For the accompanying Appropriations Limit Worksheet No. 6, we multiplied line A, last year's limit, by
line D, ratio of change and compared the resulting amount to line E, this year's limit.
Finding: No exceptions were noted as a result of our procedures.
3. We compared the current year information presented in the accompanying Appropriations Limit
Worksheet No. 6 to the other worksheets described in No. 1 above.
Finding: No exceptions were noted as a result of our procedures.
4. We compared the prior year appropriations limit presented in the accompanying Appropriations Limit
Worksheet No. 6 to the prior year appropriations limit adopted by the City Council for the prior year.
Finding: No exceptions were noted as a result of our procedures.
ATTACHMENT 3
195
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
We were engaged by the City to perform this agreed-upon procedures engagement and conducted our
engagement in accordance with attestation standards established by the AICPA. We were not engaged
to and did not conduct an examination or review engagement, the objective of which would be the
expression of an opinion or conclusion, respectively, on the accompanying Appropriations Limit
Worksheet No. 6 (or other alternative computation). Accordingly, we do not express such an opinion or
conclusion. Had we performed additional procedures, other matters might have come to our attention that
would have been reported to you.
We are required to be independent of the City and to meet our other ethical responsibilities, in
accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.
This report is intended solely for the information of the City Council and management of the
City of Moorpark and is not intended to be, and should not be, used by anyone other than these specified
parties.
Brea, California
August 19, 2023
196
CITY OF MOORPARK
2022-2023
APPROPRIATIONS LIMIT CALCULATION
A. 2021-2022 APPROPRIATIONS LIMIT: $ 44,273,974
B. 2022-2023 CHANGE IN PER CAPITA
PERSONAL INCOME: 7.55%
C. 2022-2023 CHANGE IN POPULATION: -0.64%
D. RATIO OF CHANGE (1.0755 X 0.9936): X 1.0686
E. 2022-2023 APPROPRIATIONS LIMIT: $ 47,311,912
($44,273,974 x 1.0686)
197
1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
February 19, 2024
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
We have audited the financial statements of the governmental activities, each major fund, and the aggregate
remaining fund information of the City of Moorpark, California (the “City”) for the year ended June 30, 2023.
Professional standards require that we provide you with information about our responsibilities under generally
accepted auditing standards and Government Auditing Standards, as well as certain information related to the
planned scope and timing of our audit. We have communicated such information in our letter to you dated
April 25, 2023. Professional standards also require that we communicate to you the following information related to
our audit.
Significant Audit Matters
Qualitative Aspects of Accounting Practices
Management is responsible for the selection and use of appropriate accounting policies. The significant accounting
policies used by the City are described in Note 1 to the financial statements. No new accounting policies were
adopted and the application of existing policies was not changed during the fiscal year ended June 30, 2023. We
noted no transactions entered into by the City during the year for which there is a lack of authoritative guidance or
consensus. All significant transactions have been recognized in the financial statements in the proper period.
Accounting estimates are an integral part of the financial statements prepared by management and are based on
management’s knowledge and experience about past and current events and assumptions about future events.
Certain accounting estimates are particularly sensitive because of their significance to the financial statements and
because of the possibility that future events affecting them may differ significantly from those expected. The most
sensitive estimates affecting the City’s financial statements were:
Management’s estimates of the net pension liability, net other postemployment benefits liability are
based on actuarial valuation estimates. We evaluated the methods, assumptions, and data used to
develop the actuarial valuation estimates in determining that they are reasonable in relation to the
financial statements taken as a whole.
The financial statement disclosures are neutral, consistent, and clear.
Difficulties Encountered in Performing the Audit
We encountered no significant difficulties in dealing with management in performing and completing our audit.
Corrected and Uncorrected Misstatements
Professional standards require us to accumulate all known and likely misstatements identified during the audit,
other than those that are clearly trivial, and communicate them to the appropriate level of management.
Management has corrected all such misstatements. The following material misstatements detected as a result of
audit procedures were corrected by management: 2023-001.
ATTACHMENT 4
198
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
Disagreements with Management
For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing matter,
whether or not resolved to our satisfaction, that could be significant to the financial statements or the auditor’s
report. We are pleased to report that no such disagreements arose during the course of our audit.
Management Representations
We have requested certain representations from management that are included in the management representation
letter dated February 19, 2024.
Management Consultations with Other Independent Accountants
In some cases, management may decide to consult with other accountants about auditing and accounting matters,
similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting
principle to the City’s financial statements or a determination of the type of auditor’s opinion that may be expressed
on those statements, our professional standards require the consulting accountant to check with us to determine
that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other
accountants.
Other Audit Findings or Issues
We generally discuss a variety of matters, including the application of accounting principles and auditing standards,
with management each year prior to retention as the City’s auditors. However, these discussions occurred in the
normal course of our professional relationship and our responses were not a condition to our retention.
Other Matters
We applied certain limited procedures to management’s discussion and analysis, the budgetary comparison
schedules for the General Fund and the major special revenue funds, and the required pension and other
postemployment benefits schedules, which are required supplementary information (RSI) that supplements the
basic financial statements. Our procedures consisted of inquiries of management regarding the methods of
preparing the information and comparing the information for consistency with management’s responses to our
inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial
statements. We did not audit the RSI and do not express an opinion or provide any assurance on the RSI.
We were engaged to report on the combining and individual fund financial statements and schedules which
accompany the financial statements but are not RSI. With respect to this supplementary information, we made
certain inquiries of management and evaluated the form, content, and methods of preparing the information to
determine that the information complies with accounting principles generally accepted in the United States
of America, the method of preparing it has not changed from the prior period, and the information is appropriate
and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary
information to the underlying accounting records used to prepare the financial statements or to the financial
statements themselves.
We were not engaged to report on other information included in the annual report which is comprised of the
introductory and statistical sections, which accompany the financial statements but are not RSI. Such information
has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and
accordingly, we do not express an opinion or provide any assurance on it.
199
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
Future GASB Pronouncements
The following Government Accounting Standards Board (GASB) pronouncements will be effective for the following
fiscal years’ audits and should be reviewed for proper implementation by management:
Fiscal Year 2023-2024
GASB Statement No. 99, Omnibus 2022.
Fiscal Year 2024-2025
GASB Statement No. 101, Compensated Absences.
Future Projects
Comprehensive Project, Financial Reporting Model.
Comprehensive Project, Revenue and Expense Recognition.
Major Project, Going Concern Uncertainties and Severe Financial Stress.
Major Project, Infrastructure Assets.
Practice Issue, Classification of Nonfinancial Assets.
Practice Issue, Risks and Uncertainties Disclosures.
Pre-Agenda Research Activities, Subsequent Events.
Restriction on Use
This information is intended solely for the information and use of City Council and management of the City and is
not intended to be, and should not be, used by anyone other than these specified parties.
Very truly yours,
Brea, California
200
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ATTACHMENT 4
201
CITY OF MOORPARK, CALIFORNIA
HOUSING SUCCESSOR FUND
Basic Financial Statements
Year Ended June 30, 2023
202
CITY OF MOORPARK, CALIFORNIA
HOUSING SUCCESSOR FUND
Basic Financial Statements
Year Ended June 30, 2023
Table Of Contents
Page
Number
INDEPENDENT AUDITORS’ REPORT ..................................................................................................................... 1
BASIC FINANCIAL STATEMENTS
Statement of Net Position and Governmental Fund Balance Sheet .................................................................... 4
Statement of Activities and Governmental Statement of
Revenues, Expenditures, and Changes in Fund Balance ................................................................................... 5
Notes to Financial Statements ............................................................................................................................. 6
REQUIRED SUPPLEMENTARY INFORMATION
Budgetary Comparison Schedule ...................................................................................................................... 12
SUPPLEMENTARY INFORMATION
Independent Auditors’ Report on Compliance with Applicable
Requirements and on Internal Controls over Compliance ................................................................................. 14
Computation of Low- and Moderate-Income Housing Fund
Excess/Surplus .................................................................................................................................................. 16
203
1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
INDEPENDENT AUDITORS’ REPORT
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
Report on the Audit of the Financial Statements
Opinion
We have audited the accompanying financial statements of the Housing Successor Special Revenue Fund
(the “Fund”) of the City of Moorpark, California (the “City”), as of and for the year ended June 30, 2023, and the
related notes to the financial statements, as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position
of the Fund of the City as of June 30, 2023, and the changes in its financial position for the year then ended in
accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Our responsibilities under those standards are further described in the
Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be
independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical
requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinions.
Emphasis of Matter
As discussed in Note 1, the financial statements present only the Fund and do not purport to, and do not, present
fairly the financial position of the City as of June 30, 2023, the changes in its financial position, or, where applicable,
its cash flows for the year then ended in accordance with accounting principles generally accepted in the
United States of America. Our opinion is not modified with respect to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States of America, and for the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free
from material misstatement, whether due to fraud or error.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions.
Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee
that an audit conducted in accordance with generally accepted auditing standards and Government
Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material
204
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material
if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by
a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards and Government Auditing
Standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
and design and perform audit procedures responsive to those risks. Such procedures include examining, on a
test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
City’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluate the overall presentation of the financial statements.
We are required to communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified
during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the budgetary comparison
schedule for the Fund as listed on the table of contents, presented to supplement the basic financial statements.
Such information is the responsibility of management and, although not a part of the basic financial statements, is
required by the Governmental Accounting Standards Board who considers it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or historical context.
We have applied certain limited procedures to the required supplementary information in accordance with auditing
standards generally accepted in the United States of America, which consisted of inquiries of management about
the methods of preparing the information and comparing the information for consistency with management’s
responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the
basic financial statements. We do not express an opinion or provide any assurance on the information because the
limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Management has omitted management’s discussion and that accounting principles generally accepted in the United
States of America require to be presented to supplement the basic financial statements. Such missing information,
although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board,
who considers it to be an essential part of financial reporting for placing the basic financial statements in an
appropriate operational, economic, or historical context. Our opinions on the basic financial statements are not
affected by this missing information.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise
the Fund’s basic financial statements. The accompanying Computation of Housing Successor Excess/Surplus
Schedule is presented for purposes of additional analysis and is not a required part of the basic financial statements.
Such information is the responsibility of management and was derived from and relates directly to the underlying
accounting and other records used to prepare the basic financial statements. The information has been subjected
to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures,
2 205
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
including comparing and reconciling such information directly to the underlying accounting and other records used
to prepare the basic financial statements or to the basic financial statements themselves, and other additional
procedures in accordance with auditing standards generally accepted in the United States of America. In our
opinion, the Computation of Housing Successor Excess/Surplus Schedule is fairly stated, in all material respects,
in relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 11, 2023, on
our consideration of the City’s internal control over the Fund‘s 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 the
Fund‘s 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 the Fund‘s financial reporting and
compliance.
Brea, California
December 11, 2023
3 206
CITY OF MOORPARK, CALIFORNIA
HOUSING SUCCESSOR FUND
Statement of Net Position and Governmental Fund Balance Sheet
June 30, 2023
Low-Mod Reclassifications
Income Housing and Statement of
Asset Fund Eliminations Net Position
Assets:
Cash and investments 7,882$ -$ 7,882$
Receivables:
Notes and loans 5,233,968 - 5,233,968
Accrued interest 1,046,871 - 1,046,871
Land held for resale 6,316,148 - 6,316,148
Total Assets 12,604,869$ -$ 12,604,869$
Liabilities, Deferred Inflows of Resources,
and Fund Balances:
Liabilities:
Accounts payable 5,552$ -$ 5,552$
Accrued liabilities 996 - 996
Deposits payable 10,000 - 10,000
Total Liabilities 16,548 - 16,548
Deferred Inflows of Resources:
Unavailable revenues 6,280,839 (6,280,839)-
Total Deferred Inflows of Resources 6,280,839 (6,280,839)-
Fund Balances:
Restricted for low and moderate housing activities 6,307,482 (6,307,482)-
Total Fund Balances 6,307,482 (6,307,482)-
Total Liabilities, Deferred Inflows
of Resources and Fund Balances 12,604,869$
Net Position:
Restricted for low and moderate housing activities 6,307,482 12,588,321
Total Net Position (6,280,839)$ 12,588,321$
The notes to financial statements are an integral part of this statement.
4 207
CITY OF MOORPARK, CALIFORNIA
HOUSING SUCCESSOR FUND
Statement of Activities and Governmental Statement of
Revenues, Expenditures and Changes in Fund Balances
Year Ended June 30, 2023
Low-Mod Reclassifications
Income Housing and Statement of
Asset Fund Eliminations Activities
Revenues:
Use of money and property 21,880$ 1,324,628$ 1,346,508$
Miscellaneous (9,158) - (9,158)
Total Revenues 12,722 1,324,628 1,337,350
Expenditures:
Current:
General government 45,985 - 45,985
Community development 12,882 - 12,882
Total Expenditures 58,867 - 58,867
Net Change in Fund Balances (46,145) 1,324,628 1,278,483
Fund Balances/Net Position:
Fund Balance/Net Position - Beginning 7,556,352 4,956,211 12,512,563
Restatements (1,202,725) - (1,202,725)
Beginning of year, as restated 6,353,627 4,956,211 11,309,838
Fund Balance/Net Position - Ending 6,307,482$ 6,280,839$ 12,588,321$
The notes to financial statements are an integral part of this statement.
5 208
CITY OF MOORPARK, CALIFORNIA
HOUSING SUCCESSOR FUND
Notes to the Financial Statements
Year Ended June 30, 2023
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Financial Reporting Entity
The City of Moorpark’s Low-Mod Housing Asset Fund, the Housing Successor of the City of Moorpark,
(the Housing Successor), a Special Revenue Fund of the City of Moorpark, California was established February
1, 2012, pursuant to the California Housing Authority Law codified under State of California Health and Safety
Code, Section 34200 et seq. The fund was transferred into Moorpark’s Housing Authority (the Authority) and is
the only fund that makes up the Authority. The Authority was established on October 5, 2004, pursuant to the
California Housing Authority Law codified under State of California Health and Safety Code, Section 34200 et
seq. The City Council became the governing board commissioners of the Housing Authority. The Housing
Authority was formed for purposes of construction and management of quality affordable housing within the City.
The Housing Successor is controlled by the City of Moorpark (the City) and, accordingly, the accompanying
financial statements are included as a special revenue fund of the basic financial statements prepared by the City.
The Housing Successor accounts for transactions related to affordable housing activities. Revenues include
contributions from the City of Moorpark, loan repayments and interest income. The financial statements present
only the Low-Mod Housing Asset Fund and are not intended to present fairly the financial position and results of
the operations of the City of Moorpark in conformity with accounting principles generally accepted in the
United States of America. Complete financial statements of the city can be obtained from the City’s Finance
Department.
B. Basis of Presentation
The Housing Successor’s financial statements are prepared in conformity with accounting principles generally
accepted in the United States of America. The Government Accounting Standards Board is the acknowledged
standard setting body for establishing accounting and financial reporting standards followed by governmental
entities in the United States of America.
The government-wide financial statements (i.e., the statement of net position and the statement of activities)
report information on the activities of the Housing Successor. Reclassifications and eliminations have been made
to convert the financial information reported in the Low-Mod Income Housing Asset Fund (modified accrual) to a
full accrual basis.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segments
are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or
segment. Program revenues include: 1) charges to customers or applicants who purchase, use, or directly benefit
from goods, services or privileges provided by a given function or segment, and 2) grants and contributions that
are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and
other items not properly included among program revenues are reported instead as general revenues.
While separate government-wide and fund financial statements are presented, they are interrelated.
C. Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus and
the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability
is incurred, regardless of the timing of related cash flows. Grants and similar items are recognized as revenue as
soon as all eligibility requirements imposed by the provider have been met.
6 209
CITY OF MOORPARK, CALIFORNIA
HOUSING SUCCESSOR FUND
Notes to the Financial Statements
Year Ended June 30, 2023
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
The Low-Mod Housing Asset Fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are
both measurable and available. Revenues are considered to be available when they are collectible within the
current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government
considers revenues to be available if they are collected within 60 days of the end of the current fiscal period.
Expenditures generally are recorded when a liability is incurred, as under accrual accounting.
D. Assets, Liabilities and Net Position or Equity
Cash and Investments
The Housing Successor’s cash, and cash equivalents are considered to be cash on hand, demand deposits and
short-term investments with original maturities of three months or less from the date of acquisition. For financial
statement presentation purposes, cash and cash equivalents are shown as both unrestricted and restricted cash
and investments.
Investments are reported at fair value, the value at which a financial instrument could be exchanged in a current
transaction between willing parties, other than a forced liquidation sale. The City's policy is generally to hold
investments until maturity or until market values equal or exceed cost. The State Treasurer's Investment Pool
operates in accordance with appropriate state laws and regulations. The reported value of the pool is the same as
the fair value of the pool shares.
Land Held for Resale
Land purchased for resale is capitalized as inventory at acquisition costs or net realizable value, if lower. Land
held for resale is offset by a fund balance reserve, which indicates that it does not constitute "available spendable
resources." Other property held for resale is capitalized as inventory and is recorded at cost.
Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section for deferred
outflows of resources. This separate financial statement element, deferred outflows of resources, represents a
consumption of net assets that applies to a future period(s) and so will not be recognized as an outflow of
resources (expense/expenditure) until then. The Housing Successor does not carry an item that qualifies for
reporting in this category.
In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred
inflows of resources. This separate financial statement element, deferred inflows of resources, represents an
acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow of resources
(revenue) until that time. The government has only one type of item, which arises only under a modified accrual
basis of accounting that qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is
reported only in the governmental funds balance sheet. The governmental funds report unavailable revenues from
various sources: taxes, long-term loans, and grant monies. These amounts are deferred and recognized as an
inflow of resources in the period that the amounts become available.
Net Position Flow Assumption
Sometimes the government will fund outlays for a particular purpose from both restricted (e.g., restricted bond or
grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted – net position
and unrestricted – net position in the government-wide and proprietary fund financial statements, a flow
assumption must be made about the order in which the resources are considered to be applied. It is the
government’s policy to consider restricted – net position to have been depleted before unrestricted – net position
is applied.
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CITY OF MOORPARK, CALIFORNIA
HOUSING SUCCESSOR FUND
Notes to the Financial Statements
Year Ended June 30, 2023
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Fund Balance Flow Assumptions
Sometimes the government will fund outlays for a particular purpose from both restricted and unrestricted
resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to
report as restricted, committed, assigned, and unassigned fund balance in the governmental fund
financial statements a flow assumption must be made about the order in which the resources are considered to
be applied. It is the government’s policy to consider restricted fund balance to have been depleted before using
any of the components of unrestricted fund balance. Further, when the components of unrestricted fund balance
can be used for the same purpose, committed fund balance is depleted first, followed by assigned fund balance.
Unassigned fund balance is applied last.
Fund Equity
In the fund financial statements, government funds report the following fund balance classification:
Non-spendable include amounts that cannot be spent because they are either (a) not in spendable form or
(b) legally or contractually required to be maintained intact.
Restricted include amounts that are constrained on the use of resources by either (a) external creditors, grantors,
contributors, or laws of regulations of other governments or (b) by law through constitutional provisions or
enabling legislation.
Committed include amounts that can only be used for specific purposes pursuant to constraints imposed by formal
action of the government’s highest authority, the City Council. The formal action that is required to be taken to
establish, modify, or rescind a fund balance commitment is a resolution.
Assigned include amounts that are constrained by the government’s intent to be used for specific purposes but
are neither restricted nor committed. It is the policy of the City Council that assignment of fund balances must be
approved by the Council prior to the fiscal year end.
Unassigned include the residual amounts that have not been restricted, committed, or assigned to specific
purposes.
An individual governmental fund could include nonspendable resources and amounts that are restricted or
unrestricted (committed, assigned, or unassigned) or any combination of those classifications. Restricted amounts
are to be considered spent when an expenditure is incurred for purposes for which both restricted and
unrestricted fund balance is available and committed, assigned, then unassigned amounts are considered to have
been spent when an expenditure is incurred for purposes for which amounts in any of those unrestricted fund
balance classifications can be used.
NOTE 2: CASH AND CASH EQUIVALENTS
As of June 30, 2023, cash and investments were reported in the accompanying financial statements as follows:
Deposits with financial institutions 7,882$
Total cash and cash equivalents 7,882$
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CITY OF MOORPARK, CALIFORNIA
HOUSING SUCCESSOR FUND
Notes to the Financial Statements
Year Ended June 30, 2023
NOTE 2: CASH AND CASH EQUIVALENTS (CONTINUED)
The Housing Successor’s fund is pooled with the City of Moorpark’s cash and investments in order to generate
optimum interest income. The information required by GASB Statement No. 40 related to authorized
investments, credit risk, etc. is available in the annual report of the City.
NOTE 3: NOTES AND LOANS RECEIVABLE
A. Notes Receivable
Moorpark 20, LP Promissory Notes
On October 29, 2010, the Agency signed the Disposition and Development Agreement (DDA) with the Area
Housing Authority of the County of Ventura (AHA) and Moorpark 20, Limited Partnership (M20LP), consisting of
AHA and Santa Barbara Housing Assistance Corporation. The DDA provides for the construction of a 20-unit
affordable housing project (Project) on Agency-owned property located at 396, 406 and 496 Charles Street (Site).
During the tax credit application, the sale price of Site was determined to be $1,176,500 to show more local funds
into the Project. On the same date, the Agency executed a $1,176,500 loan agreement with M20LP to purchase
the Site from the Agency. The loan will accrue interest at the rate of 2.5% per annum and have a term of
55 years. One annual payment will be made to the Agency by M20LP from residual receipts after the $600,000
has been paid off. This loan is subordinate in right of payment to First Mortgage Note held by Bank of America,
N.A. and is secured by Deed of Trust and Security Agreement. The principal and accrued interest outstanding on
this note at June 30, 2023 are $1,176,500 and $372,558 respectively for a total of $1,549,058.
On November 2, 2010 the Agency entered into a $600,000 loan agreement with M20LP to complete the
construction of the Project. As of June 30, 2012, M20LP has drawn down the entire amount. The term of the loan
is 30 years with a fixed interest rate of 2.5%. One annual payment will be made to the Agency by M20LP equal to
75% of available residual receipts. This note is subordinate in right of payment to the First Mortgage Loan payable
to Bank of America, N.A. and is secured by Deed of Trust and Security Agreement. The principal and accrued
interest outstanding on this note at June 30, 2023 are $600,000 and $190,000 respectively for a total of $790,000.
The combined amounts of principal and accrued interest outstanding at June 30, 2023 are $1,776,500 and
$562,558 respectively. As of June 30, 2023, the balance was: $2,339,058.
Walnut24, LP Promissory Notes
On March 17, 2017 the City signed the Amendment No. 2 to the Disposition and Development Agreement with
Walnut24, LP (W24LP), a California limited partnership of Area Housing Authority of the County of Ventura and
Many Mansions. The DDA provides for the construction of a 24-unit affordable housing apartment on Housing
Successor Agency-owned parcel located at 782 Moorpark Avenue, 798 Moorpark Avenue, 81 Charles Street and
765 Walnut Street (Property). On March 22, 2017, the City and W24LP executed a $3,444,000 loan
(Purchase Loan) for the purchase of the Property and will accrue simple interest at the rate of 2.25% per annum
and have a term of 32 years. After the City’s Permanent Loan has been paid in full, W24LP will begin to make
annual payments to the City each year in the amount equal to 50% of the residual receipts. A balloon payment for
the remaining balance and accrued interest will be paid to the City at the end of the 32-year term. This loan is
subordinate in right of payment to the MUFG Union Bank, N.A., California Community Reinvestment Corporation
and Ventura County Housing Trust Fund; and is secured by Deeds of Trust. The combined amounts of principal
and accrued interest outstanding at June 30, 2023 are $3,444,000 and $484,313, respectively. As of
June 30, 2023, the balance was: $3,928,313.
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CITY OF MOORPARK, CALIFORNIA
HOUSING SUCCESSOR FUND
Notes to the Financial Statements
Year Ended June 30, 2023
NOTE 3: NOTES AND LOANS RECEIVABLE (CONTINUED)
B. Loans Receivable
The Housing Successor Fund operates a rehabilitation loan program for the
renovation of low and moderate income housing. The total balance outstanding at
June 30, 2023, was:13,468$
Total Notes and Loans Receivable (including accrued interest): 6,280,839$
NOTE 4: LAND HELD FOR RESALE
As of June 30, 2023, the Housing Successor has properties for redevelopment purposes for resale to developers
at a capitalized cost of $6,316,148.
NOTE 5: FUND BALANCE/NET POSITION
Error Correction
The Housing Successor’s beginning fund balance/net position was restated in FY2021-2022 for a total of
$1,202,725 due to a correction of unearned revenue and reducing the beginning balance.
Fund Balance/Net position, Beginning of the year 7,556,352$
Restatement (1,202,725)
Fund Balance/Net position, Beginning of the year, as Restated 6,353,627$
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REQUIRED SUPPLEMENTARY INFORMATION
11 214
CITY OF MOORPARK, CALIFORNIA
HOUSING SUCCESSOR FUND
Budgetary Comparison Schedule
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1, as restated 6,353,627$ 6,353,627$ 6,353,627$ -$
Resources (Inflows):
Use of money and property 23,000 23,000 21,880 (1,120)
Miscellaneous - - (9,158) (9,158)
Amounts Available for Appropriations 6,376,627 6,376,627 6,366,349 (10,278)
Charges to Appropriations (Outflows):
General Government 69,503 179,503 45,985 133,518
Community development 43,050 56,050 12,882 43,168
Total Charges to Appropriations 112,553 235,553 58,867 176,686
Budgetary Fund Balance, June 30 6,264,074$ 6,141,074$ 6,307,482$ 166,408$
12 215
SUPPLEMENTARY INFORMATION
13 216
1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
INDEPENDENT AUDITORS’ REPORT ON COMPLIANCE
AND ON INTERNAL CONTROL OVER COMPLIANCE
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
Report on Compliance
Opinion
We have audited City of Moorpark Housing Successor Special Revenue Fund (the Housing Successor), a major
fund of the City of Moorpark, California (the City)’s compliance with the types of compliance requirements identified
as subject to audit in the California Health and Safety Code sections applicable to California Housing Successor
Agencies (the “HSC”) for the year ended June 30, 2023.
In our opinion, the Housing Successor complied, in all material respects, with the types of compliance requirements
referred to above that could have a direct and material effect on the Housing Successor’s compliance with the HSC
for the year ended June 30, 2023.
Basis for Opinion
We conducted our audit of compliance in accordance with auditing standards generally accepted in the
United States of America; the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States; and the audit requirements of the HSC. Our responsibilities
under those standards and the HSC are further described in the Auditor’s Responsibilities for the Audit of
Compliance section of our report.
We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with
relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our opinion on compliance for the Program. Our audit does not provide a
legal determination of the City’s compliance with the compliance requirements referred to above.
Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the design,
implementation, and maintenance of effective internal control over compliance with the requirements of laws,
statutes, regulations, rules, and provisions of contracts or grant agreements applicable to the Program.
Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance
requirements referred to above occurred, whether due to fraud or error, and express an opinion on the City’s
compliance based on our audit. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards,
Government Auditing Standards, and the HSC will always detect material noncompliance when it exists.
The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as
fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
14 217
To the Honorable Mayor and Members of the City Council
City of Moorpark, California
Noncompliance with the compliance requirements referred to above is considered material if there is a substantial
likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the
report on compliance about the City’s compliance with the requirements the HSC as a whole.
In performing an audit in accordance with generally accepted auditing standards, Government Auditing Standards,
and the HSC, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material noncompliance, whether due to fraud or error, and design and perform
audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence
regarding the City’s compliance with the compliance requirements referred to above and performing such other
procedures as we considered necessary in the circumstances.
Obtain an understanding of the City’s internal control over compliance relevant to the audit in order to design
audit procedures that are appropriate in the circumstances and to test and report on internal control over
compliance in accordance with the HSC, but not for the purpose of expressing an opinion on the effectiveness
of the City’s internal control over compliance. Accordingly, no such opinion is expressed.
We are required to communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over
compliance that we identified during the audit.
Report on Internal Control over Compliance
A deficiency in internal control over compliance exists when the design or operation of a control over compliance
does not allow management or employees, in the normal course of performing their assigned functions, to prevent,
or detect and correct, noncompliance with a type of compliance requirement of the HSC on a timely basis. A material
weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control
over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance
requirement of the HSC will not be prevented, or detected and corrected, on a timely basis. A significant deficiency
in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over
compliance with a type of compliance requirement of the HSC that is less severe than a material weakness in
internal control over compliance, yet important enough to merit attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the Auditor’s
Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in
internal control over compliance that might be material weaknesses or significant deficiencies in internal control
over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control
over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or
significant deficiencies in internal control over compliance may exist that were not identified.
Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over
compliance. Accordingly, no such opinion is expressed.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal
control over compliance and the results of that testing based on the requirements of the HSC. Accordingly, this
report is not suitable for any other purpose.
Brea, California
December 11, 2023
15 218
CITY OF MOORPARK, CALIFORNIA
HOUSING SUCCESSOR
Computation of Housing Successor
Excess/Surplus (HSC 34176.1)
Opening Fund Balance 6,353,627$ 6,307,482$
Less Unavailable Amounts:
Land held for resale (6,316,148)$ (6,316,148)$
(6,316,148) (6,316,148)
Available Housing Successor Funds 37,479 (8,666)
Limitation (greater of $1,000,000 or four years deposits)
Aggregate amount deposited for last four years:
2022 - 2023 N/A 12,722$
2021 - 2022 27,374$ 27,374
2020 - 2021 17,620 17,620
2019 - 2020 26,570 26,570
2018 - 2019 21,402 N/A
Total 92,966$ 84,286$
Base Limitation 1,000,000$ 1,000,000$
Greater amount 1,000,000 1,000,000
Computed Excess/Surplus None None
Low and Moderate
All Project Area
July 1, 2023
Low and Moderate
All Project Area
July 1, 2022
Housing Funds Housing Funds
16 219