HomeMy WebLinkAboutACFR 2001 CITY OF MOORPARK
MOORPARK, CALIFORNIA
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For the fiscal year
July 1, 2000 through June 30, 2001
CITY OF MOORPARK
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30,2001
CONTENTS
PAGE
GENERAL PURPOSE FINANCIAL STATEMENTS
Independent Auditors' Report 1
All Fund Types and Account Groups
Combined Balance Sheet 3
All Governmental Fund Types
Combined Statement of Revenues,Expenditures and Changes In Fund Balances 5
Combined Statement of Revenues,Expenditures and Changes In Fund Balances
—Budget and Actual 6
Notes to General-Purpose Financial Statements 8
SUPPLEMENTARY SCHEDULES
All Special Revenue Funds
Combining Balance Sheet 30
Combining Statement of Revenues, Expenditures and Changes In Fund Balances 33
Combining Statement of Revenues,Expenditures and Changes In Fund Balances
—Budget and Actual 36
All Capital Projects Funds
Combining Balance Sheet 42
Combining Statement of Revenues,Expenses and Changes In Fund Balances 44
Combining Statement of Revenues,Expenditures and Changes In Fund Balance
-Budget and Actual 46
Agency Fund—Developer Deposit Fund
Statement of Changes in Assets and Liabilities 48
CITY OF MOORPARK
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2001
CONTENTS (Continued)
PAGE
STATISTICAL SECTION
Revenues by Source—All Governmental Fund Types—Last Ten Fiscal Years 49
Expenditures by Function—All Governmental Fund Types—Last Ten Fiscal Years 50
Assessed Value of Taxable Property—Last Ten Fiscal Years 51
Secured Tax Charge and Delinquencies—Most Recent Five Year History 52
Direct and Overlapping Bonded Debt as of Fiscal Year 1999-2000 53
Computation of Legal Debt Margin and Breakdown of General Property Tax Levy 54
City Population—Last Ten Years 55
Building Permit Valuation—Last Ten Fiscal Years 56
Largest Property Owners—Per Assessed Valuation 1998 57
Miscellaneous Statistics 58
ra Vavrinek,Trine, Day & Co., LLP
VALUE THE DIFFERENCE
Certified Public Accountants&Consultants
INDEPENDENT AUDITORS' REPORT
The Honorable City Council
City of Moorpark
Moorpark,California
We have audited the accompanying general-purpose financial statements of the City of Moorpark as of and for
the year ended June 30, 2001, as listed in the accompanying table of contents. These general-purpose financial
statements are the responsibility of the City's management. Our responsibility is to express an opinion on these
general-purpose financial statements based on our audit.
We conducted our audit in accordance with 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. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the general-purpose financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in
the general-purpose fmancial statements. An audit also includes assessing the accounting principles used and
significant estimates made by management,as well as evaluating the overall general-purpose financial statement
presentation. We believe that our audit provides a reasonable basis for our opinion.
In accordance with Government Auditing Standards, we have also issued a report dated November 20, 2001 on
our consideration of City of Moorpark's internal control over financial reporting and our tests of its compliance
with certain provisions of laws regulations,contracts and grants.
The City has not maintained complete records relating to the fixed assets of the General Fixed Asset Account
Group. Accordingly, we are unable to satisfy ourselves as to the fixed assets of the General Fixed Assets
Account Group amounting to$22,038,103.
In our opinion, except for the omission of the information discussed in the preceding paragraph, the general-
purpose financial statements referred to above present fairly, in all material respects,the financial position of the
City of Moorpark, California as of June 30, 2001, and the results of its operations for the year then ended in
conformity with accounting principles generally accepted in the United States of America.
1
8270 Aspen Street Rancho Cucamonga,CA 91730 Tel:909.466.4410 Fax:909.466.4431 www.vtdcpa.com
FRESNO • LAGUNA HILLS • PLEASANTON • RANCHO CUCAMONGA • SACRAMENTO • SAN JOSE
Our audit was made for the purpose of forming an opinion on the general-purpose financial statements taken as
a whole. The combining and individual fund statements listed in the accompanying table of contents as
supplementary information are presented for purposes of additional analysis and are not a required part of the
general-purpose financial statements of the City of Moorpark, California. Such information has been subjected
to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is
fairly stated, in all material respects in relation to the general-purpose financial statements taken as a whole.
The statistical information listed in the table of contents was not audited by us, and accordingly, we do not
express an opinion thereon.
t
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Rancho Cucamonga, California
November 20, 2001
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CITY OF MOORPARK
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 2001
(With Comparative Totals for June 30, 2000)
GOVERNMENTAL FUND TYPES
Special Capital Debt
General Revenue Projects Service
ASSETS AND OTHER DEBITS
Cash and Investments $ 9,539,956 $ 32,992,734 $ 3,796,933
Restricted cash and investments $ 803,959
Accounts and interest receivable,net 593,113 766,601 76,006 10,381
Taxes receivable 239,061 22,417 24,279
Notes and loans receivable 73,623 785,119 3,493,320
Due from other funds 660,761 42,461 12,022
Long-term advance in Redevelopment Agency
Other assets 4,492 10,590
Land held for resale 1,744,256 990,622
Property and equipment
Amount available for debt service
Amount to be provided for retirement
of general long-term debt
Total Assets $ 11,111,006 $ 36,353,588 $ 8,367,471 $ 850,641
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 439,323 2,877,899 349,077 447,332
Employees compensated absences payable
Deposits,principally from developers 25,000 4,045
Due to other funds 12,022 218,461 484,761
Deferred revenue 61,205 498,599
Long-term advance from City General Fund
Tax allocation bonds payable
Total Liabilities 512,550 3,619,959 837,883 447,332
FUND EQUITY AND OTHER CREDITS
Fund balances and other credits:
Investment in general fixed assets
Fund balances:
Reserved for unpaid grants 5,315
Reserved for encumbrances 55,168 540,936
Reserved for receivables due after one year,net 73,531 747,117 3,493,320
Reserved for land held for resale 1,744,256 990,622
Reserved for prepaid expenditures 4,492
Reserved for debt services 403,309
Reserved for low/moderate income housing 1,832,626
Reserved for advances in Redevelopment Agency
Unreserved:
Designated 233,678
Undesignated 10,459,950 27,868,694 2,811,968
Total Fund Equity and Other Credits 10,598,456 32,733,629 7,529,588 403,309
Total Liabilities and Fund Equity $ 11,111,006 $ 36,353,588 $ 8,367,471 $ 850,641
The accompanying notes are an integral part of these financial statements.
3
FIDUCIARY
FUND TOTALS
TYPE ACCOUNT GROUPS (Memorandum Only)
General General-Long
Agency Fixed Assets Term Debt 2001 2000
$ 1,413,623 $ 47,743,246 $ 39,115,418
803,959 1,082,005
1,446,101 1,906,710
285,757 136,747
4,352,062 4,600,988
715,244 3,097,664
1,865,369
15,082 13,781
2,734,878 1,500,000
$ 22,038,103 22,038,103 21,221,029
$ 403,309 403,309 831,875
9,024,226 9,024,226 10,769,599
$ 1,413,623 $ 22,038,103 $ 9,427,535 $ 89,561,967 $ 86,141,185
4,113,631 2,242,136
232,535 232,535 196,105
1,413,623 1,442,668 1,518,004
715,244 3,097,664
559,804 527,206
1,865,369
9,195,000 9,195,000 9,540,000
1,413,623 9,427,535 16,258,882 18,986,484
22,038,103 22,038,103
21,221,029
5,315 49,097
596,104 263,711
4,313,968 4,415,786
2,734,878 1,500,000
4,492 3,664
403,309 831,875
1,832,626 1,570,425
1,865,369
233,678 4,249,058
41,140,612 31,184,687
22,038,103 73,303,085 67,154,701
$ 1,413,623 $ 22,038,103 $ 9,427,535 $ 89,561,967 $ 86,141,185
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CITY OF MOORPARK
COMBINED STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30,2001
(With Comparative Totals for the Fiscal Year Ended June 30,2000)
TOTALS
GOVERNMENTAL FUND TYPES (Memorandum Only)
General Special Capital Debt
Fund Revenue Projects Service 2001 2000
REVENUES
Property taxes $ 1,961,855 $2,541,900 $ 4,503,755 $ 3,692,893
Sales taxes 1,869,411 1,869,411 1,809,428
Other taxes $ 662,865 662,865 596,716
Motor vehicle license fees 1,656,722 1,656,722 1,488,473
Utility franchise fees 668,178 202,402 870,580 846,180
Building and safety fees 924,610 924,610 453,189
Maintenance assessments 6,132,478 $ 253,068 6,385,546 5,147,137
Subventions and grants 342,449 1,346,265 1,688,714 2,375,920
Planning and public works fees 1,321,470 1,321,470 1,456,613
Development fees 2,181,308 2,181,308 133,543
Charges for current services 777,792 43,302 821,094 628,527
Fines and forfeitures 113,085 155,635 268,720 230,148
Interest 540,914 1,875,778 530,170 41,058 2,987,920 2,384,356
Other 121,316 26,685 99,825 247,826 88,120
Total Revenues 8,051,722 14,872,798 883,063 2,582,958 26,390,541 21,331,243
EXPENDITURES
Current:
General government 1,597,567 4,071 1,601,638 1,168,049
Public safety 3,781,307 48,675 271 3,830,253 3,476,781
Public services 252,934 3,873,836 294,971 613,910 5,035,651 5,070,009
Parks and recreation 840,348 1,011,300 1,851,648 1,383,146
Capital outlay 72,164 4,771,982 2,044,112 6,888,258 5,355,271
Debt service
Principal 2,210,369 2,210,369 2,820,000
Interest 557,401 557,401 744,305
Total Expenditures 6,544,320 9,705,793 2,343,425 3,381,680 21,975,218 20,017,561
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 1,507,402 5,167,005 (1,460,362) (798,722) 4,415,323 1,313,682
OTHER FINANCING SOURCES(USES)
Operating transfers in 822,098 1,217,939 878,536 2,918,573 1,481,809
Proceeds from sale of city property 3,704 7,980 11,684
Loss from sale of city property (15,000) (15,000)
Operating transfers out (709,559) (963,418) (737,216) (508,380) (2,918,573) (1,481,809)
Total Other Financing Sources(Uses) 116,243 247,501 (737,216) 370,156 (3,316)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 1,623,645 5,414,506 (2,197,578) (428,566) 4,412,007 1,313,682
Fund Balances,Beginning of Year 8,536,132 27,172,539 9,393,126 831,875 45,933,672 44,518,954
Prior Period Adjustment 484,761 100,502 334,040 919,303 101,036
Fund Equity Transfer/Residual Equity Transfer (46,082) 46,082
Fund Balances,End of Year $ 10,598,456 $ 32,733,629 $ 7,529,588 $ 403,309 $ 51,264,982 $ 45,933,672
The accompanying notes are an integral part of these financial statements.
5
CITY OF MOORPARK
COMBINED STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES-BUDGET AND ACTUAL
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 2001
GENERAL FUND SPECIAL REVENUE FUNDS
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Property taxes $ 1,687,000 $ 1,961,855 $ 274,855
Sales taxes 1,555,000 1,869,411 314,411
Other taxes $ 598,090 $ 662,865 $ 64,775
Motor vehicle license fees 1,521,500 1,656,722 135,222
Utility franchise fees 659,000 668,178 9,178 187,000 202,402 15,402
Building and safety fees 1,122,491 924,610 (197,881)
Maintenance assessments 7,947,809 6,132,478 (1,815,331)
Subventions and grants 247,200 342,449 95,249 2,213,259 1,346,265 (866,994)
Planning and public works fees 1,321,470 1,321,470
Development fees 2,181,308 2,181,308
Charges for current services 660,345 777,792 117,447 1,680,054 43,302 (1,636,752)
Fines and forfeitures 100,800 113,085 12,285 105,000 155,635 50,635
Interest 496,926 540,914 43,988 1,092,138 1,875,778 783,640
Other 37,500 121,316 83,816 10,300 26,685 16,385
6,965,271 8,051,722 • 1,086,451 14,956,141 14,872,798 (83,343)
EXPENDITURES
Current:
General govemment 2,027,028 1,597,567 429,461
Public safety 3,891,476 3,781,307 110,169 274,511 48,675 225,836
Public services 372,176 252,934 119,242 4,608,110 3,873,836 734,274
Parks and recreation 1,013,901 840,348 173,553 1,206,318 1,011,300 195,018
Capital outlay 196,459 72,164 124,295 12,738,309 4,771,982 7,966,327
Debt service
Principal
Interest
Total Expenditures 7,501,040 6,544,320 956,720 18,827,248 9,705,793 9,121,455
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (535,769) 1,507,402 2,043,171 (3,871,107) 5,167,005 9,038,112
OTHER FINANCING SOURCES(USES)
Operating transfers in 801,656 822,098 20,442 872,489 1,217,939 345,450
Proceeds from sale of city property 3,704• 3,704 7,980 7,980
Loss from sale of city property (15,000) (15,000)
Operating transfers out (854,489) (709,559) 144,930 (819,656) (963,418) (143,762)
Total Other Financing Sources(Uses) (52,833) 116,243 169,076 52,833 247,501 194,668
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ (588,602) 1,623,645 $ 2,212,247 $ (3,818,274) 5,414,506 $ 9,232,780
Fund Balances,Beginning of Year 8,536,132 27,172,539
Prior Period Adjustment 484,761 100,502
Fund Equity Transfer/Residual Equity Transfer (46,082) 46,082
Fund Balances,End of Year $ 10,598,456 $ 32,733,629
The accompanying notes are an integral part of these financial statements.
6
TOTAL
CAPITAL PROJECTS FUNDS DEBT SERVICE (Memorandum Only)
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 1,884,800 $ 2,541,900 $ 657,100 $ 3,571,800 $ 4,503,755 $ 931,955
1,555,000 1,869,411 314,411
598,090 662,865 64,775
1,521,500 1,656,722 135,222
846,000 870,580 24,580
1,122,491 924,610 (197,881)
$ 609,220 $ 253,068 $ (356,152) 8,557,029 6,385,546 (2,171,483)
2,460,459 1,688,714 (771,745)
1,321,470 1,321,470
2,181,308 2,181,308
2,340,399 821,094 (1,519,305)
205,800 268,720 62,920
527,000 530,170 3,170 61,900 41,058 (20,842) 2,177,964 2,987,920 809,956
107,000 99,825 (7,175) 154,800 247,826 93,026
1,243,220 883,063 (360,157) 1,946,700 2,582,958 636,258 25,111,332 26,390,541 1,279,209
2,400 4,071 (1,671) 2,029,428 1,601,638 427,790
10,500 271 10,229 4,176,487 3,830,253 346,234
2,575,958 294,971 2,280,987 613,910 (613,910) 7,556,244 5,035,651 2,520,593
2,220,219 1,851,648 368,571
2,252,580 2,044,112 208,468 15,187,348 6,888,258 8,299,090
2,532,572 2,210,369 322,203 2,532,572 2,210,369 322,203
911,326 557,401 353,925 911,326 557,401 353,925
4,841,438 2,343,425 2,498,013 3,443,898 3,381,680 62,218 34,613,624 21,975,218 12,638,406
(3,598,218) (1,460,362) 2,137,856 (1,497,198) (798,722) 698,476 (9,502,292) 4,415,323 13,917,615
765,300 878,536 113,236 2,439,445 2,918,573 479,128
11,684 11,684
(15,000) (15,000)
(737,216) (737,216) (508,380) 508,380 (1,674,145) (2,918,573) (1,244,428)
(737,216) (737,216) 765,300 370,156 621,616 765,300 (3,316) (768,616)
$ (3,598,218) (2,197,578) $ 1,400,640 $ (731,898) (428,566) $ 303,332 $ (8,736,992) 4,412,007 $ 13,148,999
9,393,126 831,875 45,933,672
334,040 919,303
$ 7,529,588 $ 403,309 $ 51,264,982
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CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Moorpark(the City), accounts for its financial operations in accordance with accounting principles
generally accepted in the United States of America applicable to governmental units. Accordingly,the City uses
several fund types and account groups as described below.
A. Fund Types and Account Groups
The accounts of the City are organized on the basis of individual funds and account groups, each of which is
considered a separate accounting entity. The operations of each fund are accounted for with a separate set
of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or
expenses as appropriate. The City's resources are allocated to and accounted for in these individual funds
based on the purposes for which they are to be spent and the means by which spending activities are
controlled. The various funds are grouped in the general-purpose financial statements as follows:
Governmental Fund Types
• General Fund: The General Fund is the general operating fund of the City. It is used to account for all
financial resources except those required to be accounted for in another fund.
• Special Revenue Funds: Special Revenue Funds are used to account for the proceeds of specific revenue
sources that are legally restricted to expenditures for specified purposes.
• Capital Project Funds: Capital Project Funds are used to account for financial resources to be used for
the acquisition or construction of major capital facilities.
• Debt Service Funds: The Debt Service Funds are used to account for the accumulation of resources for,
and the payment of, general long-term debt principal,interest,and related costs.
Fiduciary Funds
• Agency Funds: Agency Funds are used to account for assets held by the City as an agent for individuals,
private organizations, other governments and/or other funds. The agency funds are custodial in nature
(assets equal liabilities) and do not involve measurement of results of operations. The agency funds use
the modified accrual basis of accounting.
Account Groups
• General Fixed Assets Account Group
General Fixed Assets Account Group, which is used to account for property and equipment purchased
or received by the governmental fund types.
8
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(Continued)
• General Long-Term Debt Account Group
General Long-Term Debt Account Group, which is used to account for unmatured long-term
indebtedness of the governmental fund types.
B. Measurement Focus
All governmental funds are accounted for on a spending or financial flow measurement focus, which means
that only current assets and current liabilities are generally included on their balance sheets. Their reported
fund balance is their net current assets, which is considered only to be a measure of available spendable
resources. Governmental fund operating statements present a summary of sources and uses of available
spendable resources during a period by presenting increases and decreases in net current assets.
Because of their spending measurement focus, governmental funds exclude fixed assets and noncurrent
liabilities. Instead, these assets and liabilities are reported in the General Fixed Assets Account Group and
the General Long-Term Obligations Account Group. These account groups measure only financial position;
they are not funds and they do not measure results of operations. They maintain accounting control over the
City's governmental fund fixed assets and City debt,which will be repaid by governmental funds.
In those cases when a governmental fund records a long-term receivable or other non-current asset, an
offsetting credit is made to deferred revenue, or undesignated fund balance is reduced to reflect the fact that
this amount is not yet available.
C. Reporting Entity
The accompanying general-purpose financial statements include all accounts for the City and the
Redevelopment Agency. The City of Moorpark Redevelopment Agency is a separate legal entity, over
which the City Council exercises significant oversight responsibility and authority. The Financial
operations of the Redevelopment Agency are included in the accompanying financial statements based on
the financial interdependency of the City and the Redevelopment Agency, the absence of authoritative
independence of its officials, and the significant ability of the City Council to influence the Redevelopment
Agency's operations and fiscal matters.
A component unit financial statement for the City of Moorpark Redevelopment Agency previously
described maybe obtained at 799 Moorpark Avenue,Moorpark,California 93021.
D. Basis of Accounting
Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts
and reported in the general-purpose financial statements. Basis of accounting relates to the timing of the
measurements made,regardless of the measurement focus applied.
All governmental and agency fund types are accounted for using the modified accrual basis of accounting.
9
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
NOTE#1—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(Continued)
Their revenues are recognized when they become measurable and available as net current assets.
Those revenues susceptible to accrual are property taxes, sales taxes, transient occupancy taxes, interest
revenues, and charges for services. Fines, licenses, and permit revenues are not susceptible to accrual
because they generally are not measurable until received in cash.
Expenditures are generally recognized under the modified accrual basis of accounting when the related fund
liability is incurred, except for principal and interest on general long-term obligations which is recognized
when due. Because of their current financial resources focus, expenditure recognition for governmental
fund types excludes amounts represented by noncurrent liabilities. Since they do not affect net current
assets, such long-term amounts are not recognized as governmental fund expenditures or fund liabilities.
E. Interfund Transactions
In the course of normal operations, transactions occur among various City funds. Recurring operating
transfers are recorded by the receiving fund as an operating transfer in and as an addition to fund balance.
Such transfers are recorded by the disbursing fund as an operating transfer out and a reduction of fund
balance.
Due to/from accounts and advance to/from accounts are primarily related to advances made by the General
Fund to various Special Revenue and Capital Projects Funds and the Redevelopment Agency. Advances to
Special Revenue and Capital Projects Funds are current and will be repaid from the receipt of grant funds
and future revenues. Long-term advances to the Redevelopment Agency, which total $0 at June 30,2001,
are to be repaid over an indeterminate period of time, and bear simple interest at a rate of 8 percent annually.
These long-term advances are fully reserved in the General Fund. In July 2000, the City Council reduced
the simple interest rate to 8 percent annually.
F. Property Taxes
The duties of assessing and collecting property taxes are performed by the Ventura county (County)
Assessor and Tax Collector,respectively. The City receives an allocation of property taxes collected by the
County with respect to property located within the City limits equal to 6.5 percent of the 1 percent State
levy. The Redevelopment Agency receives incremental property taxes on property within its project area
over the base-assessed valuation at the date the project area was established. Tax levies cover the period
from July 1 to June 30 of each year. All tax liens are attached annually on the first day in January preceding
the fiscal'year for which the taxes are levied. Taxes are levied on both real and personal property, as it
exists on that date.
10
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
NOTE#1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(Continued)
Secured property taxes are levied against real property and are due and payable in two equal installments.
The first installment is due on November 1 and becomes delinquent if not paid by December 10. The
second installment is due on February 1 and becomes delinquent if not paid by April 10. Unsecured
personal property taxes are due on July 1 each year. These taxes become delinquent if not paid by
August 31.
G. Land Held for Resale
Land held for resale in the Redevelopment Low-and Moderate-Income Special Revenue Fund totaled
$2,734,878 at June 30, 2001. Such property represents land purchased by the Agency for redevelopment
purposes. Land is valued at the lower of cost or estimated net realizable value.
H. Fixed Assets and Long-Term Liabilities
The General Fixed Assets Account Group provides accounting control over the cost of fixed assets used by
the City's governmental funds. The General Fixed Assets Account Group is not a fund and its balances are
not financial resources available for expenditure. Rather, they provide an historical accounting record of
resources expended on general fixed assets. Public domain (infrastructure) general fixed assets, which
include roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems,
have not been capitalized because these assets are immovable and of value only to the public. No
depreciation has been provided on general fixed assets.
All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not
available. Donated fixed assets are valued at their estimated fair market value on the date donated.
The General Long Term Debt Account Group provides accounting control over the unmatured principal of
the City's general long-term debt. This debt will be repaid out of governmental funds but is not accounted
for in these funds because this part of the debt does not require an appropriation or expenditure in this
accounting period.
The two account groups are not funds. They are concerned only with the measurement of financial position.
They are not involved with measurement of results of operations.
11
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(Continued)
I. Deposits
Deposits principally consist of amounts collected from developers for services to be rendered by the City,
including engineering,plan checks and inspections and planning review services. The City recognizes such
amounts deposited as revenue when the services are performed and the corresponding expenditures are
incurred.
J. Encumbrances
Encumbrance accounting, under which purchase orders, contracts, and other commitments for the
expenditure of funds are recorded in order to reserve that portion of the applicable appropriation, is
employed in the governmental funds. Open encumbrances are recorded as reservations of fund balance
since the commitments will be paid by subsequent years' budget appropriations. Encumbrances do not
constitute expenditure or liabilities.
K. New Accounting Standards
Governmental Accounting Standards Board(GASB)Statement Number 33
The Governmental Accounting Standards Board (GASB) has issued Statement No. 33, "Accounting and
Financial Reporting for Nonexchange Transactions". The requirements of this Statement are effective for
financial statements for periods beginning after June 15, 2000. The Statement establishes accounting and
financial reporting standards to guide state and local governments' decisions about when to report the results
of nonexchange transactions involving cash and other financial capital resources.
The Statement identifies four classes of nonexchange transactions, these are: (a) derived tax revenues (for
example income taxes, sales taxes, and other assessments on earning or consumption), (b) imposed
nonexchange revenues (for example property taxes and fines), (c) government-mandates nonexchange
transactions (for example federal programs that state or local governments are mandated to perform), (d)
voluntary nonexchange transactions (for example certain grants and private donations).
The implementation did not have a material effect on the financial statements of the City.
12
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#1—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(Continued)
Governmental Accounting Standards Board (GASB) Statement Number 34
The Governmental Accounting Standards Board has issued Statement No. 34, "Basic Financial Statements—
and Management's Discussion and Analysis — for State and Local Governments". This Statement
establishes a new financial reporting model for state and local governments. This new model requires that
at a minimum the basic financial statements of a government include: (1) Management's discussion and
analysis (MD&A) as a component of required supplementary information (RSI), (2)both government-wide
financial statements and fund financial statements, (3) notes to the financial statements and (4) RSI other
than MD&A.
The implementation of the Statement is mandated in three phases based upon a government's total annual
revenues of its governmental and enterprise funds in the fiscal years ending after June 15, 1999.
Phase 1 governments, those with annual revenues of $100 million or greater will be required to
implement for periods beginning after June 15, 2001.
Phase 2 governments,those with annual revenues of$10 million or more but less than$100 million will
be required to implement for periods beginning after June 15, 2002.
Phase 3 governments,those with annual revenues of less than$10 million will be required to implement
for periods beginning after June 15, 2003.
The Statement also requires that governments capitalize all infrastructure assets, and also include all debt of
the government in the Statement of Net Assets. (Although the implementation of the infrastructure assets
can be deferred until future years depending on the implementation Phase as noted above).
This will be a complete change in the presentation of government financial statements. The City of
Moorpark has already begun to develop plans and implement policies to prepare for the implementation of
the new reporting model defined within GASB Statements No. 34.
L. Deferred Compensation
In October 1997, GASB Statement No. 32, "Accounting and Financial Reporting for Internal Revenue Code
Section 457 Deferred Compensation Plans", was issued. This Statement establishes accounting and
financial reporting standards for Internal Revenue Code (IRC) section 457 deferred compensation plans of
state and local governments. Pursuant to the IRC 457 subsection(g), all amounts of compensation deferred
under the plan, all property, or rights are solely the property and rights of the employee and beneficiaries of
the Plan. Deferred compensation funds are not subject to the claims of the City's general creditors. The
City has established an eligible deferred compensation plan in accordance with subsection (g) of the IRC
Section 457. Under the provisions of this Statement, it is no longer considered appropriate to report the
Section 457 plan in the City's financial statements. The investments under the City's 457 plan as of
June 30,2001,were$1,199,716.
13
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
NOTE#1—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(Continued)
M. Total (Memorandum Only)Columns
The combined financial statements include certain "Memorandum Only" totals, which represent
mathematical summations of account totals by fund type and account group and do not reflect the
elimination of interfund transactions. Such totals are for information purposes only and do not present
consolidated financial information.
N. Reclassifications
Certain reclassifications have been made to the comparative total amounts reported in prior years in order to
conform to the current year's presentation.
NOTE#2—BUDGETARY INFORMATION
The City Council adopts a formal budget at the beginning of the City's fiscal year providing for operations and
capital expenditures of the City's General Fund, Special Revenue Funds, Capital Projects Funds, and the Debt
Service Funds. Budgetary controls and the levying of taxes are established by the City within state limitations.
The City's adopted budget requires that expenditures not exceed appropriations in total form each fund. The
budgetary basis of accounting is consistent with accounting principles generally accepted in the United States of
America applicable to the City's financial statements.
The Council is authorized to make and has made appropriation adjustments to the budget during the year as
deemed necessary. Such adjustments, which are considered immaterial, are included in the budget amounts in
the accompanying general-purpose financial statements. Appropriations lapse at year-end.
NOTE#3—CASH AND INVESTMENTS
Cash and investments of the City are pooled for deposit and investment purposes. Interest earned on pooled
investments is credited to the funds based on each fund's average deposit balance.
Investments are stated at fair value. The City's investments consist primarily of the State of California Local
Agency Investment Fund(LAIF)and money market investments.
14
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#3—CASH AND INVESTMENTS(Continued)
A. Deposits
The California Government Code requires California banks and savings and loan associations to secure a
city's deposits by pledging government securities as collateral. The market value of pledged securities must
equal at least 110 percent of a city's deposits. California law also allows financial institutions to secure such
deposits by pledging first trust deed mortgage notes having a value of 150 percent of a city's total deposits.
B. Investments
The City temporarily invests its excess cash in instruments, which are allowable under current legislation of
the State of California(Government Code Section 53600 et seq.). The state code permits investments in the
following instruments:
• Securities of the U. S. government or its agencies
• Small business administration loans
• Certificates of deposit (or time deposits) placed with commercial banks and/or savings and loan
companies
• Negotiable certificates of deposit
• Bankers' acceptances
• Commercial paper
• Local Agency Investment Fund(LAIF)
• Repurchase agreements,Passbook savings accounts
• Reverse-repurchase agreements
As of and for the year ended June 30, 2001 and for the year ended, the City did not choose to utilize either
repurchase agreements or reverse-repurchase agreements, investment vehicles; nor did it engage in
securities lending activities.
The City's cash and investments at June 30, 2001 are as follows:
Unrestricted cash and investments $47,743,246
Restricted cash and investments 803,959
Total Cash and Investments $48,547,205
15
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
NOTE#3—CASH AND INVESTMENTS(Continued)
The cash and investments are aggregated as follows:
Deposits $ 9,186,253
Petty cash 1,100
Investments 39,359,852
Total Cash and Investments $48,547,205
The City's deposits at June 30,2001 are categorized in the following table:
BANK BALANCE-
CATEGORY BANK CARRYING
1 2 3 BALANCES AMOUNTS
Categorized
Deposits held with banks $ 100,000 $9,381,437 $ 9,481,437 $ 9,186,253
Total $ 100,000 $9,381,437 $ 9,481,437 $ 9,186,253
Category 1: Includes deposits that are insured or collateralized with securities held by the City or its agent
in the City's name.
Category 2: Includes deposits that are collateralized with securities held by the pledging financial
institution's trust depai tinent or agent in the City" name.
Category 3: Deposits, which are uncollaterlized, or collateralized with securities held by the pledging
financial institution or by its trust depai twent or agent but not in the City's name.
The City's investments at June 30,2001 are categorized in the following table:
CATEGORY Carrying Fair
(1) (2) (3) Value Value
Investments held in trust by
fiscal agents on behalf of the
City of Moorpark(restricted
assets)-investment agreement * $ 771,100 $ 771,100
Fidelity Money Market Fund* 32,859 32,859
U.S.Treasuries $5,954,828 5,953,739 5,954,828
State Treasurer's Local Agency
Investment Fund(1) * 32,598,312 32,671,252
Common Stock-Disney $ 3,328 3,842 3,328
Total $ 5,958,156 $ - $ - $39,359,852 $39,433,367
* Not required to be categorized.
16
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
NOTE#3—CASH AND INVESTMENTS(Continued)
Category 1: Includes investments that are insured or registered or for which the securities are held by the
City or its agent in the City's name.
Category 2: Includes uninsured and unregistered investments for which the securities are held by the
counterparty's trust department or agent in the City's name.
Category 3: Includes uninsured and unregistered investments for which securities are held by the
counterparty's trust department or agent but not in the City's name.
(1) The management of the State of California Pooled Money Investment Account(generally referred to as
LAIF) has indicated to the City that as of June 30, 2001, the carrying amount of the pool was
$54,496,268,373 and the estimated market value for the pool (including accrued interest) was
$55,175,428,123. The City's proportionate share of that value is $32,598,312. Included in LAIF's
investment portfolio are certain derivative securities or similar products in the form of structured notes
totaling $1,517,548,000, and asset-backed securities totaling $937,996,000. LAIE's (and the City's)
exposure to risk(credit,market or legal)is not currently available.
Fair Value of Investments
Accounting pronouncement GASB Statement No. 31 generally applies to investments in external investment
pools, investments purchased with maturities greater than one year, mutual funds, and certain investment
pools. Generally, governmental entities need to report the "fair value" changes for these investments at
year-end and records these gains or losses on their income statement.
State of California State Treasurer's Local Agency Investment Fund (LAW): The City holds an investment
in LAIF that is subject to being adjusted to "fair value". The City is required to disclose its methods and
assumptions used to estimate the fair value of its holdings in LAIF. The City relied upon information
provided by the State Treasurer in estimating the City's fair value position of it's holding in LAIF. The City
had a contractual withdrawal value of$32,598,312 whose pro-rata share of fair value was estimated by the
state Treasurer to be $32,671,252. The fair value change in this investment for the year came to an amount
that was not material for presentation in the financial statements.
The State Treasurer's Local Agency Investment Fund ("LAW") is a governmental investment pool managed
and directed by the California State Treasurer and is not registered with the Securities and Exchange
Commission. An oversight committee, comprised of California State officials and various participants,
provide oversight to the management of the fund. The daily operations and responsibilities of LAIF fall
under the auspices of the State Treasurer's office. The City is a voluntary participant in the investment pool.
17
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#4—LONG-TERM DEBT
The following is a schedule of changes in long-term debt for the fiscal year ended June 30,2001:
Balance Balance
Beginning of End of
Year Additions Deletions Year
A. Employee compensated absences payable $ 196,105 $ 36,430 $ 232,535
B. Long-term advances from the General Fund 1,865,369 $ 1,865,369
C. 1999 Tax Allocation Bonds 9,540,000 345,000 9,195,000
Totals $11,601,474 $ 36,430 $ 2,210,369 $ 9,427,535
A. Employee Compensated Absences Payable
In accordance with accounting principles generally accepted in the United States of America, the City
recognizes the long-term portion of accumulated employee compensated absences in the Long-Term Debt
Account Group.
B. Advances from the General Fund
The City's General Fund has paid for services and start-up expenditures incurred by the Redevelopment
Agency(short-term advances). The balance of these short-term operating advances amounted to $1,865,369
at the beginning of the fiscal year and were completely repaid during the 2000-2001 fiscal year.
C. 1999 Tax Allocation Bonds
In 1999, the Redevelopment Agency issued a $9,860,000 aggregated principal amount of Moorpark
Redevelopment Project 1999 Tax Allocation Refunding Bonds (the Bonds). The purpose of the Bonds was
to advance refund the Agency's previously issued $10,000,000 Moorpark Redevelopment Project, 1993 Tax
Allocation Bonds. The purpose of the 1993 Bonds was to finance a portion of the costs of implementing the
Redevelopment Plan, including low-and moderate-income housing projects. The 1999 Bonds bear interest
at rates ranging from 3.05 percent to 4.875 percent per annum, payable semi-annually on April 1 and
October 1 of each year, commending on October 1, 1999, and are subject to mandatory sinking fund
redemption commencing on October 1, 2009, and on each October 1 thereafter. The Bonds are payable
from and secured by the tax revenues to be derived from the project area.
18
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#4—LONG-TERM DEBT(Continued)
The bonds are secured by all property tax increment revenue, which is deposited directly with the fiscal
agent and recorded in the Debt Service Fund. Cash and investments in the custody of the fiscal agent are
restricted by the bond resolutions for payment of principal and interest on the Tax Allocation Bonds. In
addition, the bond resolutions require retention of funds held by the fiscal agent prior to use for other than
debt service.
The Redevelopment Agency is in compliance with the covenants contained in debt indentures, which
require the establishment of certain specific accounts for the Tax Allocation Bonds.
Debt service payments on the 1999 Tax Allocation Refunding Bonds payable will be made from the Debt
Service Fund. Annual debt service requirements to maturity are as follows:
Fiscal Year Ending
June 30, Principal Interest Total
2002 $ 355,000 $ 408,638 $ 763,638
2003 365,000 396,124 761,124
2004 380,000 382,710 762,710
2005 395,000 368,368 763,368
2006 405,000 353,065 758,065
Thereafter 7,295,000 2,526,935 9,821,935
Total $ 9,195,000 $4,435,840 $ 13,630,840
D. Prior Year's Debt Defeasance
In prior years, the City has defeased the 1993 tax allocation bond issue by creating separate irrevocable trust
funds. New debt has been issued and the proceeds have been used to purchase U.S. government securities
that were placed in the trust funds. The investments and fixed earnings from the investments are sufficient
to fully service the defeased debt until the debt is called or matures. For financial reporting purposes, the
debt has been considered defeased and therefore removed as a liability from the Agency's General Long-
Term Debt Account Group. As of June 30, 2001, the amount of defeased debt outstanding but removed
from the General Long-Terms Debt Account Group amounted to$8,400,000.
NOTE#5—LOW-AND MODERATE-INCOME HOUSING SET ASIDE
The Health and Safety Code section 33334.2 requires cities with redevelopment agencies to use at least
20 percent of tax increment revenues generated by a redevelopment project area to increase and improve the
supply of low-and moderate-income housing in the community.
19
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#6—AGREEMENTS WITH VARIOUS TAXING AGENCIES
The Moorpark Redevelopment Agency has entered into five(5)agreements for allocation and distribution of tax
increment revenues. The Agency has entered into an agreement with the County of Ventura, Ventura County
Library District, Ventura County Fire Protection District, and Ventura County Flood Control District
(collectively, the "County Taxing Entities"), which provides for the Agency to retain 100 percent of the County
Taxing Entities share (55.82 percent) of annual tax increment revenues up to $1,750,000. For annual tax
increment revenue in excess of$1,750,000, the Agency shall distribute 55.85 percent of such revenues to the
County on behalf of the County Taxing Entities. The County Taxing Entities have agreed to defer payments in
the initial years of the Redevelopment Plan, and consequently, the parties agree that the County Taxing Entities
may receive payments in any single fiscal year in excess of the amount of tax revenues the County Taxing
Entities would otherwise be entitled to, but for the adoption of the Redevelopment Plan. Additionally, the
agreement calls for the Agency to receive a$1,000,000 payment from the tax increment disbursed to the County
pursuant to the agreement,by December 31, 2008, if and only if the Agency's annual debt statements which are
filed with the County Auditor-Controller from fiscal year 1993-94 to fiscal year 2008-09 list debts in an amount
equal to or in excess of the maximum tax increment available to the Agency in each of such fiscal years.
The second agreement is with the City of Moorpark Vector Control, formerly known as the Moorpark Mosquito
Abatement District and state that the City of Moorpark Vector Control shall receive 87.5 percent of its share
(1.53 percent) of annual tax increment revenue. The City of Moorpark Vector Control has agreed to contribute
its pro rata share of the Agency's required annual payment to the Agency.
The third agreement is with the Moorpark Unified School District (the "School District"), and states that the
School District shall receive, after the Agency has satisfied debt service payments to bond or note holders or to
the holder of any other instruments of Agency indebtedness (provided such indebtedness is not reasonable
foreseeable to impair the Agency's obligation under the agreement), the School District's share (33.31 percent)
of tax increment revenues generated by an annual 2 percent increase in assessed valuation, and beginning in
fiscal year 1995-96, 14 percent of the School District's share of annual tax increment revenue. Additionally, the
agreement calls for the Agency to make a one-time $750,000 payment to the School District as a contribution to
a new School District maintenance facility, at a future date. Under a separate agreement between the City and
the MUSD, all School District share of tax increment revenues shall be payable to the City until one-half of the
cost of tennis courts constructed in AUPC has been paid. As of June 30, 2001, the remaining balance of the
payable was withheld from the School District share of tax increment.
20
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
NOTE#6—AGREEMENTS WITH VARIOUS TAXING AGENCIES(Continued)
The fourth agreement is with the Ventura County Community College District (the "Community College
District"), and states that the Community College District will receive, after the Agency has satisfied debt
service payments to bond or note holders or to the holders of any other instruments of Agency indebtedness
(provide such indebtedness is not reasonable foreseeable to impair the Agency's obligation under the
agreement), the Community College District's share (5.80 percent) of tax increment revenues generated by an
annual 2 percent increase in assessed valuation, and, beginning in fiscal year 1993-94, 14 percent of the
Community College District's share of annual tax increment revenue.
The fifth agreement is with the Ventura county Superintendent of Schools Office (the "Superintendent"), and 1
states that the Superintendent shall receive its share 910.28 percent) of tax increment revenues generated by an
annual 2 percent increase in assessed valuation.
NOTE#7—RETIREMENT PLAN
A. Plan Description
The City of Moorpark's defined benefit pension plan (the Plan) provides retirement and disability benefits,
annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. The Plan is part of
the Public Agency portion of the California Public Employees Retirement System (Ca1PERS), and agent-
multiple-employer plan administered by Ca1PERS, which acts as a common investment and administrative
agent for participating public employers within the State of California. A menu of benefit provisions as well
as other requirements are established by State statutes within the Public Employees' Retirement Law. The
City of Moorpark selects optional benefits through local ordinance. Ca1PERS issues a separate
comprehensive annual financial report. Copies of the Ca1PERS' annual financial report may be obtained
from the Ca1PERS Executive Office—400 P. Street, Sacramento, CA 95814.
All full-time City employees are eligible to participate in the Plan. Part-time employees appointed to a term
of one year or longer and who work an average of 20 hours per week are also eligible to participate. Other
part-time non-benefited hourly employees do not participate in the Plan. (Effective January 1, 1992, such
part-time employees participate in a defined deferred compensation program). Related benefits vest after
five years of service. Upon five years of service, employees who retire at or after age 50 are entitled to
receive an annual retirement benefit.
The benefit is payable monthly for life, in an amount that varies, from 2 percent at age 50 to a maximum of
2.7 percent at age 55 for safety employees, and 1.092 percent at age 50 to a maximum of 2.418 percent at
age 63 for non-safety employees, of the employees' average of the three highest year's salary for each year
of credited service. The Plan also provides death and disability benefits.
21
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#7—RETIREMENT PLANS(Continued)
B. Funding Policy
Active plan members in the Plan are required to contribute 7.00 percent of their covered salary. The City of
Moorpark is required to contribute the actuarially determined remaining amounts necessary to fund the
benefits for its members. The actuarial methods and assumptions used are those adopted by the Ca1PERS
Board of Administration. The required employer contribution rate for the fiscal year ended June 30, 2001,
was zero percent. The contribution requirements of the plan members are established by State statute and
the employer contribution rate is established and may be amended by Ca1PERS.
C. Annual Pension Cost
For the year ended June 30, 2001, the City of Moorpark's annual pension cost and its actual contributions
were $2,104. The City also contributed $177,861 on behalf of employees. Employees directly contributed
$0. Total contributions were $179,965. The required contribution for the year ended June 30, 2001, was
determined as part of the June 30, 1997, actuarial valuation using the entry age normal actuarial cost method
with the contributions determined as a percent of pay. The actuarial assumptions included (a) 8.25 percent
investment rate of return (net of administrative expenses); (b) projected salary increases that vary by
duration of service ranging from 4.5 percent to 14.95 percent and(c) 4.5 percent cost-of-living adjustments.
Both(a) and(b) include an inflation component of 4.5 percent. The actuarial value of the Plan's assets were
determined using a technique that smoothes the effect of short-term volatility in the market value of
investments over a two to five year period depending on the size of investment gains and/or losses. The
Plan's unfunded accrued liability (or excess assets) is being amortized as a level percentage of projected
payroll on a closed basis. The remaining amortization period at June 30, 1998, was three years.
Three-Year Trend Information
Annual Pension Cost Percentage of APC Net Pension
Fiscal Year Ending (APC) Contributed Obligation
6/30/99 $91,092 100% $0
6/30/00 $18,373 100% $0
6/30/01 $2,104 100% $0
Funded Status of the Plan
Entry Age Unfunded
Normal Actuarial (Overfunded) Annual UAAL As a
Accrued Value of Liability Funded Covered %of
Valuation Date Liability Assets (UAAL) Ratio Payroll Payroll
6/30/98 $2,359,258 $3,504,389 ($1,145,131) 148.5% $2,119,784 (54.02)%
6/30/99 $3,105,530 $4,399,396 ($1,293,866) 141.7% $2,067,768 (62.57)%
6/30/00 $3,667,082 $5,053,792 ($1,386,710) 137.8% $2,291,864 (60.51)%
22
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
NOTE#8-PROPERTY AND EQUIPMENT
A summary of changes in general fixed assets for the year ended June 30,2001 follows:
Balance Balance
Beginning of End of
Year Additions Deletions Year
Land $ 9,941,039 $1,859,114 $ 991,240 $ 10,808,913
Buildings and structures 3,712,775 55,532 3,657,243
Improvements other than buidlings 5,395,709 5,395,709
Office furniture and equipment 1,104,425 4,732 1,109,157
Other equipment 1,067,081 1,067,081
Totals $21,221,029 $1,863,846 $ 1,046,772 $ 22,038,103
NOTE#9-INTERFUND TRANSACTIONS
A summary of operating transfers and interfund receivables/payables as of and for the year ended June 30, 2001,
is included in the following table:
Operating Operating Due From Due To
Transfers In Transfers Out Other Funds Other Funds
General Fund $ 822,098 $ 709,559 $ 660,761 $ 12,022
Special Revenue Funds
Community Development fund 214,691
State Gas Tax Fund 41,033
Endowment 119,689 259,597
Local Transportation Fund 39,886
Assessment District Fund 589,870 177,937 42,461
Park Development 176,000
Areas of Contribution Fund 42,461
Low-and Moderate-Income Housing Fund 508,380 141,320
State and Federal Assistance 46,879
Solid Waste _ 42,075
Total Special Revenue Funds 1,217,939 963,418 42,461 218,461
Capital Projects Funds
Redevelopment Agency Fund 737,216 484,761
Debt Service Fund 878,536 508,380 12,022
Total $ 2,918,573 $ 2,918,573 $ 715,244 $ 715,244
23
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
NOTE#10—COMMITMENTS AND CONTINGENCIES
A. Commitments
The City has contracted with the County of Ventura for various services most notably law enforcement.
These service contracts are renegotiated annually and cancelable by the City or the County on May 31 of
each year after 30 days notice has been given. The aggregate of these and other various contractual
commitments total approximately$3,398,539 for the year ended June 30, 2001.
B. Contingencies
There are certain legal actions pending against the City which management considers incident to normal
operations, some of which seek substantial monetary damages. In the opinion of management, after
consultation with counsel, the ultimate resolution of such actions is not expected to have a significant effect
on the financial position or the results of operations of the City.
The City has received State and Federal funds for specific purposes that are subject to review by the grantor
agencies. Although, such audits could generate expenditure disallowance's under the terms of the grants, it
is believed that any disallowed amounts will not be material.
NOTE#11 —CONDUIT DEBT—REVENUE BONDS
The City sponsored a revenue bond program during the year ended June 30, 1985, under which$20,000,000 of
Single-Family Residential Mortgage Revenue Bonds were issued. The Single-Family Mortgage program is
designed to provide funds to acquire mortgage loans on single-family residences located in the City. These
bonds are secured by a pledge of all loans receivable advanced from the bond proceeds by the trustee, First
Interstate Bank of California, and are serviced from payments on the loans to the Trustee. During the year
ended June 30, 1995, the outstanding mortgages in this program were sold, the proceeds were used to establish
an irrevocable trust to defease the bonds at April 1, 1995, and the program was discontinued.
The City sponsored a revenue bond program during the year ended June 30, 1986, under which $22,600,000 of
Multi-Family Housing Revenue Bonds were issued. The program was designed to assist in making low- and
moderate-cost rental housing available in the City. The City was guaranteed that 10 percent of the units of the
project financed with the bonds are made available to persons and families with incomes not exceeding 80
percent of the County median income and another 10 percent of the units for persons and families with income
not exceeding 50 percent of the County median income. The units were available under this program for a 30-
year period. These bonds were secured by a letter of credit issued by Citibank,N.A., dated December 23, 1985.
The program is administered by the Trustee, Bank of America. The bonds were refinanced during the year
ended June 30, 1992. These bonds were refinanced in June 1, 1999, with California Statewide Community
Development Authority. The City was removed as the conduit as of June 30, 2001.
24
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
NOTE#11 —CONDUIT DEBT—REVENUE BONDS(Continued)
The City Council, serving as the Industrial Development Authority of the City of Moorpark, issued $9,300,000
of Industrial Revenue Bonds during the year ended June 30, 1986. The bonds were issued to finance the
development and construction of manufacturing facilities for the Kavlico Corporation. These bonds are secured
by a standby letter of credit issued by Bank of America. Dai Ichi Kangyo Bank of California serves as the
Trustee for these bonds. The unpaid principal balance on such bonds is$6,795,000 at June 30,2001.
The City of Moorpark Mobile Home Park Revenue Bonds (Villa Del Arroyo) Series 2000 A and the City of
Moorpark Mobile Home Park Subordinate Revenue Bonds (Villa Del Arroyo) Series 2000 B were issued in the
amounts of$12,740,000 and $2,635,000 respectively. Both issuances were dated May 19, 2000. The Series A
bonds were issued to fund a loan to Augusta Homes, a California non-profit public benefit corporation to
finance the acquisition of the Villa Del Arroyo Mobile Home Park. The Series B bonds were issued for the
same purpose but are subordinate to the Series A bonds. The total bonds outstanding at June 30, 2001, total
$15,215,000.
Each of the bond programs described above do not constitute and indebtedness of the City, and there is neither a
legal nor a moral obligation on the part of the City to make payments on such bonds from any source other than
the revenues and assets pledged therefor. The programs are completely administered by the Trustees without
any involvement by the City. Accordingly,these programs and the bonds issued thereunder have been excluded
from the accompanying general-purpose financial statements.
NOTE#12—SPECIAL ASSESSMENT BONDS
On April 1, 1994, the City sponsored the issuance of special assessment bonds to finance certain capital
improvements for the Mission Bell Plaza project. These bonds, totaling $2,595,000, of which $735,000 and
$1,475,000 mature in 2013 and 2023, respectively, were issued under the 1915 Improvement Bond Act and are
obligations against the properties in the assessment district. The special assessment, which is collected with
other property related taxes as part of the secured property tax bill for properties in the assessment district, will
be forwarded to an independent bank that serves as the paying agent. These bonds do not constitute an
indebtedness of the City, and the City is not liable for their repayment. Accordingly, these special assessment
bonds payable have been excluded from the accompanying general-purpose financial statements. The unpaid
principal balance on such bonds is$1,940,000 at June 30, 2001.
25
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#12—SPECIAL ASSESSMENT BONDS(Continued)
On July 1, 1997, the City issued bonds to finance the acquisition and construction of public improvements
within the City of Moorpark Community Facilities District No. 97-1. These bonds, totaling $7,645,000, were
issued pursuant to the Mello-Roos Community Facilities Act of 1982. The bonds mature on September 1, 2008
with interest payable at rates ranging from 4.4 percent to 6 percent per annum on March 1 and September 1 of
each year commencing March 1, 1998. The City is not liable under any circumstance for the repayment of the
debt, but is only acting as agent for the property owners in collecting the assessments and special taxes,
forwarding collections to fiscal agents to pay the bondholders and initiating foreclosure proceedings, if
appropriate. Accordingly, these bonds payable have been excluded from the accompanying general-purpose
financial statements. The unpaid principal balance is$7,415,000 at June 30,2001.
Seven properties in the assessment district, which had been zoned for commercial use prior to the City's
incorporation, are currently used for residential, commercial and agricultural purposes. At various times, the
City has advanced monies and contributed assessments on these properties form the Los Angeles Avenue Area
of Contribution Special Revenue Fund to the paying agent, which the paying agent has used to purchase certain
securities which have been placed in trust accounts to be used solely to provide for principal of and interest on
the seven properties' proportionate share of the bonds through maturity. Notes receivable, secured by deeds of
trust and various accounts receivable, have been established for these advances with interest accruing at a
variable rate equivalent to the rate at which the City earns on funds deposited in the State Treasurer's Local
Agency Investment Fund or 7 percent, whichever is less. Under the terms of the original promissory notes, the
notes and accrued interest are due at the earlier of(1) sale of the property, (2) conversion of the property to a
commercial use or (3) the maturity of the notes in March 2023. Subsequent to June 30, 1998, the notes were
amended and the repayment terms changed as follows: the notes and accrued interest are due August 2029.
NOTE#13—RISK MANAGEMENT
A. Description of Self-Insurance Pool Pursuant to Joint Powers Agreement
The City is a member of the California Joint Powers Insurance Authority (Authority). The Authority is
composed of 84 California public entities and is organized under a joint powers agreement pursuant to
California Government Code 6500 et seq. The purpose of the Authority is to arrange and administer
programs for the pooling of self-insured losses, to purchase excess insurance or reinsurance, and to arrange
for group-purchased insurance for property and other coverages. The Authority's pool began covering
claims of its members in 1978. Each member government has an elected official as its representative on the
Board of Directors. The Board operates through a 9-member Executive Committee.
26
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
NOTE#13—RISK MANAGEMENT(Continued)
B. Self-Insurance Programs of the Authority
General Liability: Each member government pays a primary deposit to cover estimated losses for a fiscal
year (claims year). Six months after the close of a fiscal year, outstanding claims are valued. A
retrospective deposit computation is then made for each open claims year. Costs are spread to members as
follows: the first $20,000 of each occurrence is charged directly to the member; costs from $20,001 to
$500,000 are pooled based on a member's share of costs under$20,000; costs from$500,001 to $5,000,000
are pooled based on payroll. Costs of covered claims above $5,000,000 are currently paid by reinsurance.
The protection for each member is$50,000,000 per occurrence and$50,000,000 annual aggregate.
Workers Compensation: The City also participates in the workers compensation pool administered by the
Authority. Pool deposits and retrospective adjustments are valued in a manner similar to the General
Liability pool. The City of Moorpark is charged for the first$25,000 of each claim. Costs are pooled above
that level to $50,000. Costs from $50,001 to $100,000 per claim are pooled based on the member's losses
under its retention level. Costs between $100,001 and $500,000 per claim are pooled based on payroll.
Costs in excess of$500,000 are paid by excess insurance purchased by the Authority. The excess insurance
provides coverage to statutory limits.
C. Purchased Insurance
The City of Moorpark participates in the all-risk property protection program of the Authority. This
insurance protection is underwritten by several insurance companies. The City of Moorpark property is
currently insured according to a schedule of covered property submitted by the City of Moorpark to the
Authority. Total all-risk property insurance coverage is $8,548,437. There is a $5,000 per loss deductible.
Premiums for the coverage are paid annually and are not subject to retroactive adjustments.
D. Adequacy of Protection
During the past three fiscal (claims) years none of the above programs of protection have had settlements or
judgments that exceeded pooled or insured coverage. There have been no significant reductions in pooled
or insured liability coverage from coverage in the prior year.
•
27
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#14—FUND BALANCES
The Redevelopment Agency has designated $233,678 of fund balance in the Redevelopment Agency Capital
Projects Fund for business incentives and future capital projects.
NOTE#15—PROPOSITION 62
The California Supreme Court recently upheld the constitutionality of Proposition 62, a 1986 initiative, which
requires voter approval of all new or increased taxes. The likelihood and amount of such an adverse effect upon
the financial position of the City is currently unknown and has not been reflected in the general-purpose
financial statements.
NOTE#16—PROPOSITION 218
The voters recently approved the "Right to Vote on Taxes Act" (Proposition 218) which limits the City's ability
to levy general taxes and benefit assessments without voter approval. The actual effects of Proposition 218 are
unclear at this time. The initiative would also require voter approval by November 1998, to continue to collect
annually in the General Fund general taxes (such as utility, transient occupancy, and the like) that are subject to
the proposition requirements.
NOTE#17—PRIOR PERIOD ADJUSTMENTS
The agency has recorded a prior period adjustment of$(484,761) in the Capital Projects Fund to record prior
year interest due to the General Fund from the Long-Term Advance from the City. The City recorded a prior
period adjustment of$(171,821) in the Capital Projects Fund to record prior year pass-thru liability. The City
recorded a prior period adjustment of$990,622 in the Capital Projects Fund and$45,000 in the Special Revenue
Fund to record land held for resale, which had been recorded in the General Fixed Asset Account Group. The
City recorded a prior period adjustment of $55,502 in the Gas Tax Fund to implement new accounting
standards.
28
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2001
NOTE#18—RESIDUAL EQUITY TRANSFERS
The following residual equity transfers were due to the State Supplemental Law Enforcement Grant, which was
accounted for in the General Fund now accounted for in the State and Federal Assistance Fund:
Residual Equity Residual Equity
Transfer In Transfer(Out)
General Fund $ - $ (46,082)
Special Revenue Funds:
State and Federal Assistance 46,082
Total $ 46,082 $ (46,082)
29
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CITY OF MOORPARK
COMBINING BALANCE SHEET
ALL SPECIAL REVENUE FUNDS
JUNE 30, 2001
(With Comparative Totals for June 30,2000)
State
Traffic Community Affordable Gas
Safety Development Housing Tax
ASSETS
Cash and Investments $ 247,703 $ 840,527 $ 644,875 $ 1,668,973
Restricted cash and investments
Accounts and interest receivable,net 681 149,742
Taxes receivable
Notes and loans receivable 24,332 13,670 36,121
Due from other funds
Other assets
Land held for resale
Total Assets $ 272,035 $ 854,878 $ 680,996 $ 1,818,715 ,.'
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 3,111 589,479 495 20,150
Deposits,principally from developers
Due to other funds
Deferred revenue
Total Liabilities 3,111 589,479 495 20,150
FUND BALANCES
Fund balances:
Reserved for encumbrances 285 51,750 26,542
Reserved for receivables due after one year,net 36,121
Reserved for land held for resale
Reserved for low/moderate income housing
Unreserved:
Designated
Undesignated 268,639 213,649 644,380 1,772,023
Total Fund Balances 268,924 265,399 680,501 1,798,565
Total Liabilities and Fund Balances $ 272,035 $ 854,878 $ 680,996 $ 1,818,715
30
(CONTINUED)
Low and Street and Traffic State and
Moderate Areas of Safety Park Assessment Federal
Endowment Income Housing Contributions Development Development District Assistance
$ 7,242,446 $ 1,581,484 $ 8,308,227 $ 6,195,804 $ 2,142,964 $ 646,771 $ 2,568,945
291,230 11,677 93,444 4,664 193,899
22,417
120,549 467,778 119,868 2,801
42,461
1,744,256
$ 7,242,446 $ 3,737,519 $ 8,830,143 $ 6,315,672 $ 2,239,209 $ 673,852 $ 2,762,844
5,733 1,490,265 9 52,019 94,192 593,191
25,000
176,000 42,461
188,351 119,868 2,801 .
30,733 1,678,616 119,877 230,820 136,653 593,191
4,500 396,056 51,668 10,135
120,549 467,778 119,868 2,801
1,744,256
1,832,626
7,242,446 4,855 6,287,693 6,075,927 1,953,920 527,064 2,169,653
7,242,446 3,706,786 7,151,527 6,195,795 2,008,389 537,199 2,169,653
$ 7,242,446 $ 3,737,519 $ 8,830,143 $ 6,315,672 $ 2,239,209 $ 673,852 $ 2,762,844
31
CITY OF MOORPARK
COMBINING BALANCE SHEET
ALL SPECIAL REVENUE FUNDS
JUNE 30,2001
(With Comparative Totals for June 30,2000)
Local TOTALS
Transportation Solid
Transit Waste 2001 2000
ASSETS
Cash and Investments $ 204,876 $ 699,139 $ 32,992,734 $ 25,399,887
Restricted cash and investments 263,508
Accounts and interest receivable,net 2,555 18,709 766,601 1,288,916
Taxes receivable 22,417 37,043
Notes and loans receivable 785,119 781,248
Due from other funds 42,461 2,160,752
Other assets 31
Land held for resale 1,744,256 1,500,000
Total Assets $ 207,431 $ 717,848 $ 36,353,588 $ 31,431,385
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 19,852 9,403 2,877,899 1,174,072
Deposits,principally from developers 25,000 26,500
Due to other funds 218,461 2,615,687
Deferred revenue 187,579 498,599 442,587
Total Liabilities 207,431 9,403 3,619,959 4,258,846
FUND BALANCES
Fund balances:
Reserved for encumbrances 540,936 216,830
Reserved for receivables due after one year,net 747,117 596,046
Reserved for land held for resale 1,744,256 1,500,000
Reserved for low/moderate income housing 1,832,626 1,570,425
Unreserved:
Designated 109,002
Undesignated 708,445 27,868,694 23,180,236
Total Fund Balances 708,445 32,733,629 27,172,539
Total Liabilities and Fund Balances $ 207,431 $ 717,848 $ 36,353,588 $ 31,431,385
32
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CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2001
(With Comparative Totals for the Fiscal Year Ended June 30, 2000)
State
Traffic Community Affordable Gas
Safety Development Housing _ Tax
REVENUES
Property taxes
Other taxes $ 662,865
Utility franchise fees
Building and safety fees $ 924,610
Maintenance assessments 1
Subventions and grants 12,375
Planning and public works fees 1,321,470
Development fees
Charges for current services 2,230
Fines and forfeitures $ 148,886
Interest 11,858 $ 35,884 103,561
Other _ 874
Total Revenues 160,744 2,258,455 35,884 769,530
EXPENDITURES
Current:
General government
Public safety 31,251
Public services 44,806 1,970,258 12,730 735,774
Parks and recreation
Capital outlay 11,112 59,078
Total Expenditures 76,057 1,981,370 12,730 794,852
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 84,687 277,085 23,154 (25,322)
OTHER FINANCING SOURCES(USES)
Operating transfers in
Proceeds from sale of city property 200
Loss from sale of city property
Operating transfers out (214,691) (41,033)
Total Other Financing Sources(Uses) (214,491) (41,033)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 84,687 62,594 23,154 (66,355)
Fund Balances,Beginning of Year 184,237 202,805 657,347 1,809,418
Prior Period Adjustment 55,502
Fund Equity Transfer/Residual Equity Transfer
Fund Balances,End of Year $ 268,924 $ 265,399 $ 680,501 $ 1,798,565
33
(CONTINUED)
Low and Street and Traffic State and
Moderate Areas of Safety Park Assessment Federal
Endowment Income Housing Contributions Development Development District Assistance
$ 991,261 $ 2,533,960 $ 1,229,317 $ 1,377,940
93,444 $ 984,601
$ 2,181,308
310 15,029 1,020
3,249 3,500
390,116 $ 204,525 497,953 294,120 104,820 29,967 153,373
12,867 12,509 435
2,571,424 217,392 1,489,524 2,828,080 1,440,090 1,426,620 1,142,494
17,424
106,610 (402) 8,870818,296 43,788
5,000 222 766,655
3,163,920 46,134 121,303 55,207 1,313,937
106,610 3,163,518 60,004 121,525 1,640,158 1,375,149
2,571,424 110,782 (1,673,994) 2,768,076 1,318,565 (213,538) (232,655)
119,689 508,380 589,870
7,780
(15,000)
(259,597) (141,320) (177,937) (46,879)
(139,908) 352,060 7,780 411,933 (46,879)
2,431,516 462,842 (1,673,994) 2,768,076 1,326,345 198,395 (279,534)
4,810,930 3,198,944 8,825,521 3,427,719 682,044 338,804 2,403,105
45,000
46,082
$ 7,242,446 $ 3,706,786 $ 7,151,527 $ 6,195,795 $ 2,008,389 $ 537,199 $ 2,169,653
34
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30,2001
(With Comparative Totals for the Fiscal Year Ended June 30,2000)
Local TOTALS
Transportation Solid
Transit Waste 2001 2000
REVENUES
Property taxes $ 399,572
Other taxes $ 662,865 560,746
Utility franchise fees $ 202,402 202,402 194,497
Building and safety fees 924,610 392,106
Maintenance assessments 6,132,478 5,147,137
Subventions and grants $ 242,931 12,914 1,346,265 2,143,114
Planning and public works fees 1,321,470 1,315,327
Park development fees 2,181,308 133,543
Charges for current services 24,713 43,302 35,146
Fines and forfeitures 155,635 129,571
Interest 11,070 38,531 1,875,778 1,114,457
Other 26,685 17,073
Total Revenues 278,714 253,847 14,872,798 11,582,289
EXPENDITURES
Current:
General government 3,300
Public safety 48,675 57,292
Public services 133,106 3,873,836 3,468,328
Parks and recreation 239,423 1,011,300 701,175
Capital outlay 1,291 4,771,982 4,967,266
Total Expenditures 239,423 134,397 9,705,793 9,197,361
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 39,291 119,450 5,167,005 2,384,928
OTHER FINANCING SOURCES(USES)
Operating transfers in 1,217,939 752,120
Proceeds from sale of city property 7,980
Loss from sale of city property (15,000)
Operating transfers out (39,886) (42,075) (963,418) (133,838)
Total Other Financing Sources(Uses) (39,886) (42,075) 247,501 618,282
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES (595) 77,375 5,414,506 3,003,210
Fund Balances,Beginning of Year 595 631,070 27,172,539 24,169,329
Prior Period Adjustment 100,502
Fund Equity Transfer/Residual Equity Transfer 46,082
Fund Balances,End of Year $ - $ 708,445 $ 32,733,629 $ 27,172,539
35
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CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES-BUDGET AND ACTUAL
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30,2001
Traffic Community
Safety Development
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Other taxes
Utility franchise fees
Building and safety fees $ 1,122,491 $ 924,610 $ (197,881)
Maintenance assessments
Subventions and grants 12,450 12,375 (75)
Planning and public works fees 1,321,470 1,321,470
Development fees
Charges for current services 1,647,654 (1,647,654)
Fines and forfeitures $ 105,000 $ 148,886 $ 43,886
Interest 3,300 11,858 8,558
Other 100 (100)
Total Revenues 108,400 160,744 52,344 2,782,595 2,258,455 (524,140)
EXPENDITURES
Current:
General government
Public safety 37,580 31,251 6,329
Public services 54,856 44,806 10,050 2,528,901 1,970,258 558,643
Parks and recreation
Capital outlay 16,162 11,112 5,050
Total Expenditures 92,436 76,057 16,379 2,545,063 1,981,370 563,693
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 15,964 84,687 68,723 237,532 277,085 39,553
OTHER FINANCING SOURCES(USES)
Operating transfers in
Proceeds from sale of city property 200 200
Loss from sale of city property
Operating transfers out (214,691) (214,691)
Total Other Financing Sources(Uses) (214,691) (214,491) 200
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ 15,964 84,687 $ 68,723 $ 22,841 62,594 $ 39,753
Fund Balances,Beginning of Year 184,237 202,805
Prior Period Adjustment
Fund Equity Transfer/Residual Equity Transfer
Fund Balances,End of Year $ 268,924 $ 265,399
36
(CONTINUED)
State
Affordable Gas
Housing Tax Endowment
Variance Variance Variance
Favorable Favorable Favorable
Budget _ Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 598,090 $ 662,865 $ 64,775
$ 698,598 $ (698,598)
$ 2,181,308 2,181,308
2,230 2,230
$ 37,000 $ 35,884 $ (1,116) 78,000 103,561 25,561 360,000 390,116 30,116
874 874
37,000 35,884 (1,116) 676,090 769,530 93,440 1,058,598 2,571,424 1,512,826
14,694 12,730 1,964 768,373 735,774 32,599
143,853 59,078 84,775
14,694 12,730 1,964 912,226 794,852 117,374
22,306 23,154 848 (236,136) (25,322) 210,814 1,058,598 2,571,424 1,512,826
119,689 119,689
(41,033) (41,033) (260,000) (259,597) 403
(41,033) (41,033) (140,311) (139,908) 403
$ 22,306 23,154 $ 848 $ (277,169) (66,355) $ 210,814 $ 918,287 2,431,516 $ 1,513,229
657,347 1,809,418 4,810,930
55,502
$ 680,501 $ 1,798,565 $ 7,242,446
37
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES-BUDGET AND ACTUAL
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2001
Low and
Moderate Areas of
Income Housing Contributions
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Other taxes
Utility franchise fees
Building and safety fees
Maintenance assessments $ 1,887,008 $ 991,261 $ (895,747)
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services 310 310
Fines and forfeitures
Interest $ 70,000 $ 204,525 $ 134,525 254,000 497,953 243,953
Other 10,200 12,867 2,667
Total Revenues 80,200 217,392 137,192 2,141,008 1,489,524 (651,484)
EXPENDITURES
Current:
General government
Public safety
Public services 130,563 106,610 23,953 (402) 402
Parks and recreation
Capital outlay 484,780 484,780 8,835,012 3,163,920 5,671,092
Total Expenditures 615,343 106,610 508,733 8,835,012 3,163,518 5,671,494
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (535,143) 110,782 645,925 (6,694,004) (1,673,994) 5,020,010
OTHER FINANCING SOURCES(USES)
Operating transfers in 508,380 508,380
Proceeds from sale of city property
Loss from sale of city property (15,000) 15,000
Operating transfers out (141,320) 141,320
Total Other Financing Sources(Uses) 352,060 664,700
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $(535,143) 462,842 $ 1,310,625 $ (6,694,004) (1,673,994) $ 5,020,010
Fund Balances,Beginning of Year 3,198,944 8,825,521
Prior Period Adjustment 45,000
Fund Equity Transfer/Residual Equity Transfer
Fund Balances,End of Year $ 3,706,786 $ 7,151,527
38
(CONTINUED)
Street and Traffic
Safety Park Assessment
Development Development District
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 3,135,001 $ 2,533,960 $ (601,041) $ 920,527 $ 1,229,317 $ 308,790 $ 1,306,675 $ 1,377,940 $ 71,265
101,000 93,444 (7,556)
15,000 15,029 29
3,249 3,249
136,700 294,120 157,420 49,600 104,820 55,220 15,750 29,967 14,217
12,509 12,509 435 435
3,271,701 2,828,080 (443,621) 1,071,127 1,440,090 368,963 1,337,425 1,426,620 89,195
8,894 8,870 24 1,071,752 818,296 253,456
5,000 5,000 10,000 222 9,778 846,361 766,655 79,706
156,061 46,134 109,927 379,812 121,303 258,509 87,136 55,207 31,929
169,955 60,004 109,951 389,812 121,525 268,287 2,005,249 1,640,158 365,091
3,101,746 2,768,076 (333,670) 681,315 1,318,565 637,250 (667,824) (213,538) 454,286
734,800 589,870 (144,930)
7,780 7,780
(177,917) (177,937) 20
7,780 7,780 556,883 411,933 (144,910)
$ 3,101,746 2,768,076 $ (333,670) $ 681,315 1,326,345 $ 645,030 $ (110,941) 198,395 $ 309,376
3,427,719 682,044 338,804
$ 6,195,795 $ 2,008,389 $ 537,199
39
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES-BUDGET AND ACTUAL (CONTINUED)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30,2001
State and Local
Federal Transportation
Assistance Transit
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Other taxes
Utility franchise fees
Utility franchise fees
Maintenance assessments
Subventions and grants $ 1,726,614 $ 984,601 $ (742,013) $ 364,543 $ 242,931 $ (121,612)
Planning and public works fees
Park development fees
Charges for current services 1,020 1,020 17,400 24,713 7,313
Fines and forfeitures 3,500 3,500
Interest 77,500 153,373 75,873 11,070 11,070
Other
Total Revenues 1,804,114 1,142,494 (661,620) 381,943 278,714 (103,229)
EXPENDITURES
Current:
General government
Public safety 22,741 17,424 5,317
Public services 30,077 43,788 (13,711)
Parks and recreation 41,205 41,205 303,752 239,423 64,329
Capital outlay 2,613,293 1,313,937 1,299,356 20,900 20,900
Total Expenditures 2,707,316 1,375,149 1,332,167 324,652 239,423 85,229
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (903,202) (232,655) 670,547 57,291 39,291 (18,000)
OTHER FINANCING SOURCES(USES)
Operating transfers in 18,000 (18,000)
Proceeds from sale of city property
Loss from sale of city property
Operating transfers out (26,054) (46,879) (20,825) (57,886) (39,886) 18,000
Total Other Financing Sources(Uses) (8,054) (46,879) (38,825) (57,886) (39,886) 18,000
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ (911,256) (279,534) $ 631,722 $ (595) (595) $ -
Fund Balances,Beginning of Year 2,403,105 595
Prior Period Adjustment
Fund Equity Transfer/Residual Equity Transfer 46,082
Fund Balances,End of Year $ 2,169,653 $ -
40
Solid
Waste Total
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 598,090 $ 662,865 $ 64,775
$ 187,000 $ 202,402 $ 15,402 187,000 202,402 15,402
1,122,491 924,610 (197,881)
7,947,809 6,132,478 (1,815,331)
8,652 12,914 4,262 2,213,259 1,346,265 (866,994)
1,321,470 1,321,470
2,181,308 2,181,308
1,680,054 43,302 (1,636,752)
105,000 155,635 50,635
10,288 38,531 28,243 1,092,138 1,875,778 783,640
10,300 26,685 16,385
205,940 253,847 47,907 14,956,141 14,872,798 (83,343)
214,190 214,190 274,511 48,675 225,836
133,106 (133,106) 4,608,110 3,873,836 734,274
1,206,318 1,011,300 195,018
1,300 1,291 9 12,738,309 4,771,982 7,966,327
215,490 134,397 81,093 18,827,248 9,705,793 9,121,455
(9,550) 119,450 129,000 (3,871,107) 5,167,005 9,038,112
872,489 1,217,939 345,450
7,980 7,980
(15,000) 15,000
(42,075) (42,075) (819,656) (963,418) 138,918
(42,075) (42,075) 52,833 247,501 507,348
$ (51,625) 77,375 $ 129,000 $ (3,818,274) 5,414,506 $ 9,545,460
631,070 27,172,539
100,502
46,082
$ 708,445 $32,733,629
41
CITY OF MOORPARK
COMBINING BALANCE SHEET
ALL CAPITAL PROJECTS FUNDS
JUNE 30, 2001
(With Comparative Totals for June 30,2000)
City Hall Police Facilities Equipment Redevelopment
Building Fee Fund Replacement Agency
ASSETS
Cash and Investments $ 465,089 $ 1,074,157 $ 137,308 $ 2,120,379
Accounts and interest receivable,net 76,006
Taxes receivable
Notes and loans receivable 3,493,320
Due from other funds
Other assets 10,590
Land held for resale 990,622
Total Assets $ 465,089 $ 1,074,157 $ 137,308 $ 6,690,917
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 6,681 342,396
Deposits,principally from developers 4,045
Due to other funds 484,761
Total Liabilities 6,681 831,202
FUND BALANCES
Fund balances:
Reserved for encumbrances
Reserved for receivables due after one year,net 3,493,320
Reserved for land held for resale 990,622
Unreserved:
Designated for business incentives 233,678
Designated for capital projects
Undesignated 465,089 1,074,157 130,627 1,142,095
Total Fund Balances 465,089 1,074,157 130,627 5,859,715
Total Liabilities and Fund Balances $ 465,089 $ 1,074,157 $ 137,308 $ 6,690,917
42
TOTALS
2001 2000
$ 3,796,933 $ 5,995,714
76,006 263,030
31,494
3,493,320 3,737,740
10,590 10,086
990,622
$ 8,367,471 $ 10,038,064
349,077 160,591
4,045 2,370
484,761 481,977
837,883 644,938
372
3,493,320 3,737,740
990,622
233,678 233,678
3,906,378
2,811,968 1,514,958
7,529,588 9,393,126
$ 8,367,471 $ 10,038,064
43
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL CAPITAL PROJECTS FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30,2001
(With Comparative Totals for the Fiscal Year Ended June 30,2000)
City Hall Police Facilities Equipment Redevelopment
Building Fee Fund Replacement Agency
REVENUES
Property taxes
Other taxes
Maintenance assessments $ 253,068
Charges for current services
Fines and forfeitures
Interest $ 26,085 51,781 $ 13,864 $ 438,440
Other 99,825
Total Revenues 26,085 304,849 13,864 538,265
EXPENDITURES
Current:
General government 900 2,900 271
Public safety 271
Public services 542 294,429
Capital outlay 184,999 1,859,113
Debt service
Principal
Interest
Total Expenditures 900 2,900 186,083 2,153,542
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 25,185 301,949 (172,219) (1,615,277)
OTHER FINANCING SOURCES(USES)
Operating transfers in
Operating transfers out (737,216)
Total Other Financing Sources(Uses) (737,216)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 25,185 301,949 (172,219) (2,352,493)
Fund Balances,Beginning of Year 439,904 772,208 302,846 7,878,168
Prior Period Adjustment 334,040
Fund Balances,End of Year $ 465,089 $ 1,074,157 $ 130,627 $ 5,859,715
44
TOTALS
2001 2000
$ 1,589,397
300
$ 253,068 61,083
108,532
1,755
530,170 491,074
99,825
883,063 2,252,141
4,071 21,198
271
294,971 1,386,922
2,044,112 271,131
2,500,000
350,000
2,343,425 4,529,251
(1,460,362) (2,277,110)
60,500
(737,216) (535,351)
(737,216) (474,851)
(2,197,578) (2,751,961)
9,393,126 12,044,051
334,040 101,036
$ 7,529,588 $ 9,393,126
45
CITY OF MOORPARK
STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES-BUDGET AND ACTUAL
ALL CAPITAL PROJECTS FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2001
City Hall Police Facilities
Building Fee Fund
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Property taxes
Maintenance assessments $ 304,610 $ 253,068 $ (51,542)
Interest $ 21,000 $ 26,085 $ 5,085 40,000 51,781 11,781
Other
Total Revenues 21,000 26,085 5,085 344,610 304,849 (39,761)
EXPENDITURES
Current:
General government 900 900 2,900 (2,900)
Public safety 5,000 5,000
Public services
Capital outlay
Total Expenditures 900 900 5,000 2,900 2,100
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 20,100 25,185 5,085 339,610 301,949 (37,661)
OTHER FINANCING SOURCES(USES)
Operating transfers out
Total Other Financing Sources(Uses)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ 20,100 25,185 $ 5,085 $ 339,610 301,949 $ (37,661)
Fund Balances,Beginning of Year 439,904 772,208
Prior Period Adjustment
Fund Balances,End of Year $ 465,089 $ 1,074,157
46
Equipment Redevelopment
Replacement Agency Total
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 609,220 $ 253,068 $ (356,152)
$ 15,000 $ 13,864 $ (1,136) $ 375,000 $ 438,440 $ 63,440 527,000 530,170 3,170
107,000 99,825 (7,175) 107,000 99,825 (7,175)
15,000 13,864 (1,136) 482,000 538,265 56,265 1,243,220 883,063 (360,157)
300 271 29 2,400 4,071 (1,671)
250 271 (21) 10,500 271 10,229
600 542 58 2,574,758 294,429 2,280,329 2,575,958 294,971 2,280,987
191,933 184,999 6,934 1,868,714 1,859,113 9,601 2,252,580 2,044,112 208,468
193,083 186,083 7,000 4,443,472 2,153,542 2,289,930 4,841,438 2,343,425 2,498,013
(178,083) (172,219) 5,864 (3,961,472) (1,615,277) 2,346,195 (3,598,218) (1,460,362) 2,137,856
(737,216) (737,216) (737,216) (737,216)
(737,216) (737,216) (737,216) (737,216)
$ (178,083) (172,219) $ 5,864 $ (3,961,472) (2,352,493) $ 1,608,979 $ (3,598,218) (2,197,578) $ 1,400,640
302,846 7,878,168 9,393,126
334,040 334,040
$ 130,627 $ 5,859,715 $ 7,529,588
47
CITY OF MOORPARK
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUND-DEVELOPER DEPOSIT FUND
FOR THE FISCAL YEAR ENDED JUNE 30,2001
Balance Net Net Balance
Fund Name June 30, 2000 Additions Reductions June 30, 2001
Cash and investments $ 1,659,442 $ 245,819 $ 1,413,623
Total Assets $ 1,659,442 $ - $ 245,819 $ 1,413,623
Accounts payable 170,308 170,308
Developer deposits 1,489,134 75,511 1,413,623
Total Liabilities $ 1,659,442 $ - $ 245,819 $ 1,413,623
48
STATISTICAL SECTION
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CITY OF MOORPARK
REVENUES BY SOURCE
ALL GOVERNMENTAL FUND TYPES
LAST TEN FISCAL YEARS
Taxes and Licenses Revenue Use of
Fiscal Assessments Permits and From Other Maintenance Money& Other Total
Year (See Note 1) Fees Agencies Assessments Property Revenue Revenue
1992 $ 2,616,716 $ 2,218,310 $ 725,609 $ 923,830 $ 1,420,077 $ 446,767 $ 8,351,309
1993 3,937,065 3,157,288 951,352 1,811,483 1,316,507 1,916,469 13,090,164
1994 3,902,251 2,717,299 1,966,343 3,592,238 1,356,679 1,128,888 14,663,698
1995 4,390,156 2,501,078 789,852 940,377 1,314,740 1,157,615 11,093,818
1996 4,282,265 2,672,673 1,021,458 2,991,121 2,320,057 1,746,631 15,034,205
1997 6,349,631 4,693,256 1,373,726 1,641,622 1,984,162 493,938 16,536,335
1998 4,879,322 4,587,138 1,170,287 1,630,996 1,988,731 623,362 14,879,836
1999 5,486,444 4,033,723 849,089 3,856,911 2,691,285 709,444 17,626,896
2000 6,099,037 4,377,998 4,325,305 3,197,752 2,384,356 946,795 21,331,243
2001 7,072,806 2,925,322 4,312,485 8,670,249 3,088,182 516,546 26,585,590
Governmental Fund types includes General Fund and all Special Revenue,Debt Service and Capital Project
Funds.
NOTE: 1991 was the first year the Redevelopment Agency received tax increment. In 1992,the County
of Ventura impounded tax increment for Redevelopment Agency and then released it in 1993.
I
Source: City of Moorpark
49
CITY OF MOORPARK
EXPENDITURES BY FUNCTION
ALL GOVERNMENTAL FUND TYPES
LAST TEN FISCAL YEARS
Fiscal General Public Public Parks& Capital Debt
Year Government Safety Services Recreation Outlay Service Total
1992 $ 1,015,922 $ 2,102,183 $ 2,227,984 $ 706,939 $ 2,119,893 $ 18,352 $ 8,191,273
1993 1,251,186 2,220,034 2,609,431 706,997 3,714,679 126,414 10,628,741
1994 1,502,504 2,417,915 2,913,513 989,482 9,218,073 554,029 17,595,516
1995 1,332,372 2,518,495 2,457,737 1,175,997 2,342,077 1,694,708 11,521,386
1996 1,530,824 2,618,063 2,533,477 1,263,862 5,740,952 2,582,130 16,269,308
1997 1,386,598 2,807,382 3,960,313 1,336,029 3,452,115 1,125,199 14,067,636
1998 1,631,787 3,026,724 3,599,360 1,381,058 1,081,814 1,268,704 11,989,447
1999 1,993,878 3,102,834 3,148,264 1,385,376 1,965,474 4,156,354 15,752,180
2000 1,168,049 3,476,781 5,070,009 1,383,146 5,355,271 3,564,305 20,017,561
2001 1,619,062 3,968,812 5,047,343 1,851,648 6,879,243 2,767,770 22,133,878
Governmental Fund Types include General Fund and all Special Revenue,Debt Service and Capital Projects
Funds.
Source: City of Moorpark
50
CITY OF MOORPARK
ASSESSED VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Total
Fiscal Net Secured Net Unsecured Net Assessed Percent Homeowner's
Year Roll Roll Roll Change Exemptions
1992 $ 1,590,604,539 $ 56,025,905 $ 1,646,630,444 6.2% $ 33,355,481
1993 1,674,603,922 57,669,820 1,732,273,742 5.2% 33,507,656
1994 1,673,307,475 57,005,483 1,730,312,958 -0.1% 33,943,139
1995 1,732,877,452 56,810,214 1,789,687,666 3.4% 36,000,192
1996 1,784,220,963 63,819,253 1,848,040,216 3.3% 37,421,267
1997 1,848,655,764 68,944,812 1,917,600,576 3.8% 38,289,239
1998 1,920,177,164 70,911,851 1,991,089,015 3.8% 39,313,581
1999 2,035,487,530 85,464,519 2,120,952,049 6.5% 40,240,720
2000 2,149,505,500 84,834,286 2,234,339,786 5.3% 40,687,060
2001 2,421,104,221 92,634,149 2,513,738,370 12.5% 40,786,802
Source: Ventura County Assessor
51
CITY OF MOORPARK
SECURED TAX CHARGE AND DELINQUENCIES
MOST RECENT FIVE YEAR HISTORY
Amount Percent
Fiscal Secured Delinquent Delinquent
Year Tax Charge June 30 June 30
1997 $ 1,158,953 24,705 2.1%
1998 1,191,918 21,807 1.8%
1999 1,374,741 25,687 1.9%
2000 1,410,082 25,054 1.8%
2001 1,573,688 67,292 4.3%
Source: California Municipal Statistics, Inc.
52
CITY OF MOORPARK
DIRECT AND OVERLAPPING BONDED DEBT
AS OF FISCAL YEAR 1999-2000*
1999-2000 Assessed Valuation: $ 2,211,432,867
Redevelopment Incremental Valuation: 184,257,216
Adjusted Assessed Valuation: $ 2,027,175,651
Percent Debt
Direct and Overlapping Tax and Assessment Debt: Applicable as 6/30/00
Ventura County Flood Control District Zone No. 3 8.012% $ 120,981
Metropolitan Water District 0.222% 1,220,145
Ventura County Waterworks District No. 1 100.000% 125,000
Conejo Valley Unified School District 0.021% 6,300
City of Moorpark Commujity Facilities District No. 97-1 100.000% 7,525,000
City of Moorpark 1915 Act Bonds 100.000% 2,320,000
Total Direct and Overlapping Tax and Assessment Debt $11,317,426
Overlapping General Fund Obligation Debt: 4.236% $ 1,502,509
Ventura County General Fund Obligations 4.236% 5,328,888
Ventura County Pension Obligations 4.236% 123,268
Ventura County Superintendent of Schools COPS 4.237% 585,130
Ventura County Community College District COPS 91.108% 5,184,045
Ventura County Library District Authority 6.826% 40,956
Total Overlapping General Fund Obligation Debt $12,764,796
Combined Total Debt** $24,082,222
Ratios to 1999-2000 Assessed Valuation:
Direct Debt 0.00%
Total Direct and Overlapping Tax and Assessment Debt 0.51%
Ratio to Adjusted Assessed Valuation
Combined Total Debt 1.19%
State School Building Aid Repayable as of 6/30/00 0
* 1999-2000 is the most current information available.
**Excludes tax and revenue anticipation notes,revenue,mortgage revenue and tax allocation bonds and
non-bonded capital lease obligations.
Source: California Municipal Statistics,Inc.
53
CITY OF MOORPARK
COMPUTATION OF LEGAL DEBT MARGIN AND
BREAKDOWN OF GENERAL PROPERTY TAX LEVY
Legal Debt Margin as of June 30, 2001
Assessed Valuation:
Secured property assessed value: $ 2,421,104,221
Bonded Debt Limit(15% of Assessed Value) $ 363,165,633
Amount of Debt Subject to Debt Limit
Total Bonded Debt $ 9,195,000
Less CRA Tax Allocation Bonds 9,195,000
Amount of Debt Subject to Debt Limit: 0
Breakdown of General Property Tax Levy
In accordance with the California State Constitution as amended by Proposition 13
in 1978,property taxes are limited to$1 per$100 of valuation unless additional
levies are approved by the general electorate. Most local public agencies receive
a share of the "general levy" ($1 per$100 of valuation) in accordance with State
statutes. The following is a breakdown of the proportional shares of the "General Levy":
Moorpark Unified School District 33.50%
County of Ventura General Fund 17.20%
Fire Protection District 15.10%
Education Revenue Augmentation 5.50%
E.R.A.F 93-94 Shift 8.77%
City of Moorpark 6.50%
Ventura Community College 5.80%
Ventura Co. Superintendent of Schools 2.60%
County Library 1.67%
County Flood Zone#3 1.26%
Moorpark Mosquito Abatement 0.91%
Calleguas Municipal Water 0.90%
Ventura County Flood Control Admin 0.26%
Ventura College Child Care 0.03%
Total 100.00%
Source: City of Moorpark,Ventura County Assessor and HdL Coren&Cone
54
CITY OF MOORPARK
CITY POPULATION
LAST TEN YEARS
Percent
Year Population Change
1992 26,294 1.5%
1993 26,713 1.6%
1994 27,170 1.7%
1995 27,099 -0.3%
1996 27,752 2.4%
1997 28,377 2.3%
1998 29,300 3.3%
1999 29,589 0.4%
2000 29,727 0.4%
2001 32,150 8.2%
Source: City of Moorpark, and State Department of Finance
55
CITY OF MOORPARK
BUILDING PERMIT VALUATION
LAST TEN FISCAL YEARS
Number Number
Fiscal Residential of Commercial of Total Permit
Year Valuation Permits Valuation Permits Valuation
1992 $ 26,464,476 282 $ '),350,958 45 $ 29,815,434
1993 $ 9,182,124 326 $ 7,488,066 50 $ 16,670,190
1994 $ 26,189,940 250 $ 11,374,256 55 $ 37,564,196
1995 $ 55,828,983 250 $ 2,575,542 37 $ 58,404,525
1996 $ 45,807,776 443 $ 6,869,232 65 $ 52,677,008
1997 $ 24,274,609 364 $ 27,460,489 85 $ 51,735,098
1998 $ 6,331,779 258 $ 18,950,107 131 $ 25,281,886
1999 $ 3,112,703 213 $ 6,538,260 90 $ 9,650,963
2000 $ 45,298,666 386 $ 9,786,014 59 $ 55,084,680
2001 $ 76,864,038 581 $ 7,046,028 69 $ 83,910,066
Source: City of Moorpark,
56
CITY OF MOORPARK
LARGEST PROPERTY OWNERS
PER ASSESSED VALUATION 2001
Assessed
Value of
Property Owner Property
Autosafe Airbag Limited Partnership $ 75,872,715
Security Capital Pacific Trust 31,037,773
Kavilco Corporation 21,741,700
Laars Inc 20,267,350
Mission Bell Plaza Phase 2 20,208,563
Jakie M. Galiher 18,678,516
G-S Partnership 17,912,277
Toll CA Limited Partnership 16,621,901
Kevin F. &Joanne O. Sawai 14,556,130
Mission Bell Plaza Phase 1 14,297,706
Source: Hdl Coren&Cone and Ventura County Assessor
57
CITY OF MOORPARK
MISCELLANEOUS STATISTICS
Year of Incorporation: 1983 Parks&Recreation:
Number of Parks 14
Form of Government: Council-Manager Park Acreage 153 acres
General Law City
Most Recent Population Estimate: 0 Education(Number of Schools):
High Schools 2
Registered Voters: 15,243 Middle Schools 2
Elementary Schools 6
City Employees: 75
Number of Community Facilities
Fire Protection: City Civic Buildings
Number of Stations: 2 Libraries 1
Number of Firefighters: 9 Community Centers 2
Senior Centers 1
Police Protection: Gym 1
Number of Stations: 1 Activity Rooms for Rentals 4
Number of Police Officers: 23
Number of Support Personnel: 2
58