HomeMy WebLinkAboutACFR 2000 CITY OF MOORPARK
MOORPARK, CALIFORNIA
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For the fiscal year
July 1, 1999 through June 30, 2000
Prepared by: The Finance and Administrative Services Department
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CITY OF MOORPARK
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30,2000
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 29
Combining Statement of Revenues, Expenditures and Changes In Fund Balances 34
Combining Statement of Revenues,Expenditures and Changes In Fund Balances
—Budget and Actual 39
All Capital Projects Funds
Combining Balance Sheet 48
Combining Statement of Revenues,Expenses and Changes In Fund Balances 49
Combining Statement of Revenues,Expenditures and Changes In Fund Balance
-Budget and Actual 50
Agency Fund—Developer Deposit Fund
Statement of Changes in Assets and Liabilities 52
CITY OF MOORPARK
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
CONTENTS (Continued)
PAGE
STATISTICAL SECTION
Revenues by Source—All Governmental Fund Types—Last Ten Fiscal Years 53
Expenditures by Function—All Governmental Fund Types—Last Ten Fiscal Years 54
Assessed Value of Taxable Property—Last Ten Fiscal Years 55
Secured Tax Charge and Delinquencies—Last Six Fiscal Years 56
Direct and Overlapping Bonded Debt as of Fiscal Year 1998-99 57
Computation of Legal Debt Margin and Breakdown of General Property Tax Levy 58
City Population—Last Ten Years 59
Building Permit Valuation—Last Ten Fiscal Years 60
Largest Property Owners—Per Assessed Valuation 1998 61
Miscellaneous Statistics 62
Vavrinek,Trine, Day & Co., LLP
Certified Public Accountants&Consultants VALUE THE DIFFERENCE
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, 2000 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 generally accepted auditing standards 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 financial 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 21, 2000 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 $21,221,029.
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, 2000, and the results of its operations for the year then ended in
conformity with generally accepted accounting principles.
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.
1/cW1' • T A-44-8-, baZ
Rancho Cucamonga,California
November 21, 2000
2
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CITY OF MOORPARK
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 2000
(With Comparative Amounts for June 30, 1999)
GOVERNMENTAL FUND TYPES
Special Capital Debt
General Revenue Projects Service
ASSETS AND OTHER DEBITS
Cash and Investments $ 6,060,375 $ 26,160,899 $ 5.234.702
Restricted cash and investments 263,508 $ 818,497
Accounts and interest receivable,net 330,190 1,300,112 263,030 13,378
Taxes receivable 79,406 37,043 20.298
Notes&loans receivable 82,000 781,248 3,737,740
Due from other funds 936,912 2,160,752
Long-term advance in Redevelopment Agency 1,865,369
Other assets 3,664 31 10,086
Land held for resale 1,500,000
Property and equipment
Amount available for debt service
Amount to be provided for retirement
of general long-term debt
Total Assets $ 9,357,916 $ 32,203,593 $ 9.265.856 $ 831,875
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 737,165 1,174,072 160,591
Employees compensated absences payable
Deposits,principally from developers 26,500 2,370
Due to other funds 2,615,687 481,977
Deferred revenue 84,619 442,587
Long-term advance from City General Fund
Tax allocation bonds payable
Total Liabilities 821,784 4,258,846 644,938
FUND EQUITY AND OTHER CREDITS
Fund balances and other credits:
Investment in general fixed assets
Fund balances:
Reserved for AB939
Reserved for unpaid grants 49,097
Reserved for encumbrances 46,509 216,830 372
Reserved for receivables due after one year,net 82,000 596,046 3,737.740
Reserved for land held for resale 1,500,000
Reserved for prepaid expenditures 3,664
Reserved for debt services 831,875
Reserved for low/moderate income housing 1,570,425
Reserved for advances in Redevelopment Agency 1,865,369
Unreserved:
Designated 109,002 4,140,056
Undesignated 6,489,493 23,952,444 742.750
Total Fund Equity and Other Credits 8.536.132 27,944,747 8.620.918 831,875
Total Liabilities and Fund Equity $ 9,357,916 $ 32,203,593 $ 9.265.856 $ 831.875
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 2000 1999
$ 1,659,442 $ 39,115,418 $ 35,171,771
1,082,005 803,234
1,906,710 2,502,554
136,747 33,711
4,600,988 3,807,282
3,097,664 1,552,616
1,865,369 4,365,369
13,781 4,000
1,500,000 1,500,000
$ 21,221,029 21,221,029 21,147,224
$ 831,875 831,875 806,845
10,769,599 10,769,599 13,598,555
$ 1,659,442 $ 21,221,029 $ 11,601,474 $ 86,141,185 $ 85,293,161
170,308 2,242,136 2,199,034
196,105 196,105 180,031
1,489,134 1,518,004 954.339
3,097,664 1,552,616
527,206 515,594
1,865,369 1,865.369 4,365,369
9,540,000 9,540,000 9,860,000
1,659,442 11,601,474 18,986,484 19,626,983
21,221,029 21,221,029 21,147,224
501,466
49,097 5,900
263,711 7,559,639
4,415,786 5,128,186
1,500,000 1,500,000
3,664
831,875 803,234
1,570,425 1,273,206
1,865,369 4,365,369
4,249,058 6,898,634
31,184,687 16,483,320
21.221,029 67,154,701 65,666,178
S
1.659,442 $ 21.221,029 $ 11,601,474 $ 86.141,185 $ 85,293,161
4
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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, 2000
(With Comparative Amounts for the Fiscal Year Ended June 30, 1999)
TOTALS
GOVERNMENTAL FUND TYPES (Memorandum Only)
General Special Capital Debt
Fund Revenue Projects Service 2000 1999
REVENUES
Property taxes $ 1,703,924 5 399,572 $ 1,589,397 5 3,692,893 $ 3,404,010
Sales taxes 1,809,428 1,809,428 1,486,749
Other taxes 35,670 560,746 300 596,716 595,685
Motor vehicle license fees 1,488,473 1,488,473 1,343,188
Utility franchise fees 651,683 194,497 846,180 859,302
Building and safety fees 453,189 453,189 290,234
Maintenance assessments 3,197,752 3,197,752 3,856,911
Subventions and grants 232,806 4,092,499 4,325,305 849,089
Planning and public works fees 141,286 1,315,327 1,456.613 760,772
Park development fees 133,543 133,543 136,805
Charges for current services 484,849 35,146 108,532 628,527 643,422
Fines and forfeitures 98,822 129,571 1,755 230,148 225,194
Interest 708,679 1,153,557 451,974 $ 70,146 2,384,356 2,702,815
Other 71,047 17,073 88,120 464,900
Total Revenues 7,426,667 11,682,472 2,151,958 70,146 21,331,243 17,619,076
EXPENDITURES
Current:
General govemment 1,143,551 3,300 21,198 1,168,049 1,993,878
Public safety 3,419,489 57,292 3,476,781 3,102,834
Public services 214,759 3,468,328 1,386,922 5,070,009 3,148,264
Parks and recreation 681,971 701,175 1,383,146 1,385,376
Capital outlay 116,874 4,967,266 271,131 5,355,271 1,965,474
Debt service
Principal 2,500,000 320,000 2,820,000 2,903,202
Interest 350,000 394,305 744,305 1,022,039
Cost of issuance 231,113
Total Expenditures 5,576,644 9,197,361 4,529,251 714.305 20,017,561 15,752,180
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 1,850,023 2,485,111 (2,377,293) (644,159) 1,313,682 1,866,896
OTHER FINANCING SOURCES(USES)
Operating transfers in 752,120 60,500 669,189 1,481,809 3,646,293
Proceeds from bond issuance 9,737,134
Proceeds from special district dissolution 1,452,845
Proceeds from sale of city property 45,000
Operating transfers out (812,620) (133,838) (535,351) (1,481,809) (3,646,293)
Payment to refunded bond escrow agent (9,497,729)
Total Other Financing Sources(Uses) (812.620) 618,282 (474,851) 669,189 1,737,250
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 1,037,403 3,103,393 (2,852,144) 25,030 1,313,682 3,604,146
Fund Balances,Beginning of Year 7,498,729 24,841,354 11,372,026 806,845 44,518,954 40,914,808
Prior Period Adjustment 101,036 101,036
Fund Balances,End of Year $ 8,536,132 $ 27,944,747 $ 8,620,918 $ 831,875 5 45,933,672 $ 44,518.954
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, 2000
GENERAL FUND SPECIAL REVENUE FUNDS
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Property taxes $ 1,571,800 $ 1,703,924 $ 132,124 $ 399,400 $ 399,572 $ 172
Sales taxes 1,380,000 1,809,428 429,428
Other taxes 37,100 35,670 (1,430) 559,920 560,746 826
Motor vehicle license fees 1,400,500 1,488,473 87,973
Utility franchise fees 630,300 651,683 21,383 186,450 194,497 8,047
Building and safety fees 446,619 453,189 6,570
Maintenance assessments 2,148,452 3,197,752 1,049,300
Subventions and grants 276,600 232,806 (43,794) 4,981,268 4,092,499 (888,769)
Planning and public works fees 92,500 141,286 48,786 2,424,718 1,315,327 (1,109,391)
Park development fees 1,000,000 133,543 (866,457)
Charges for current services 374,592 484,849 110,257 322,050 35,146 (286,904)
Fines and forfeitures 108,000 98,822 (9,178) 90,000 129,571 39,571
Interest 654,091 708,679 54,588 627,527 1,153,557 526,030
Other 55,280 71,047 15,767 400 17,073 16,673
Total Revenues 6,580.763 7,426,667 845,904 13,186,804 11,682,472 (1,504,332)
EXPENDITURES
Current:
General government 1,319,724 1,143,551 176,173 3,300 3,300
Public safety 3,608,034 3,419,489 188,545 80,366 57,292 23,074
Public services 241,543 214,759 26,784 4,890,337 3,468,328 1,422,009
Parks and recreation 770,939 681,971 88,968 785,355 701,175 84,180
Capital outlay 229,378 116,874 112,504 11,417,388 4,967,266 6,450,122
Debt service
Principal
Interest
Total Expenditures 6.169,618 5,576,644 592,974 17,176,746 9,197,361 7,979,385
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 411,145 1,850,023 1,438,878 (3,989,942) 2,485,111 6,475,053
OTHER FINANCING SOURCES(USES)
Operating transfers in 371,945 752,120 380,175
Operating transfers out (933,911) (812,620) 121,291 (134,000) (133,838) 162
Total Other Financing Sources(Uses) (933,911) (812,620) 121,291 237,945 618,282 380,337
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ (522,766) 1,037,403 $ 1,560,169 $ (3,751,997) 3,103,393 $ 6,855,390
Fund Balances,Beginning of Year 7,498,729 24,841,354
Prior Period Adjustment
Fund Balances.End of Year $ 8,536.132 $ 27,944,747
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)
$ 1,597,800 $ 1,589,397 $ (8,403) $ 3,569,000 S 3,692,893 $ 123,893
1,380,000 1,809,428 429,428
300 300 597,020 596,716 (304)
1,400,500 1,488,473 87,973
816,750 846,180 29,430
446,619 453,189 6,570
2,148,452 3,197,752 1,049,300
5,257,868 4,325,305 (932,563)
2,517,218 1,456,613 (1,060,605)
1,000,000 133,543 (866,457)
106,842 108,532 1,690 803,484 628,527 (174,957)
1,755 1,755 198,000 230,148 32,148
440,000 451,974 11,974 $ 54,000 $ 70,146 $ 16,146 1,775,618 2,384,356 608,738
55,680 88,120 32,440
2,144,642 2,151,958 7,316 54,000 70,146 16,146 21,966,209 21,331,243 (634,966)
25,324 21,198 4,126 1,348,348 1,168,049 180,299
3,688,400 3,476,781 211,619
1,551,028 1,386,922 164,106 6,682,908 5,070,009 1,612,899
1,556,294 1,383,146 173,148
481,515 271,131 210,384 12,128,281 5,355,271 6,773,010
2,500,000 2,500,000 320,000 320,000 2,820,000 2,820,000
352,900 350,000 2,900 394,500 394,305 195 747,400 744,305 3,095
4,910,767 4,529,251 381.516 714,500 714,305 195 28,971,631 20.017,561 8,954,070
(2,766,125) (2,377,293) 388,832 (660,500) (644,159) 16,341 (7,005,422) 1,313,682 8,319,104
60,500 60,500 670,000 669,189 (811) 1,102,445 1,481,809 379,364
(536,000) (535,351) 649 (1,603,911) (1,481,809) 122,102
(475,500) (474,851) 649 670,000 669,189 (811) (501,466) 501,466
$ (3,241,625) (2.852,144) $ 389,481 $ 9,500 25,030 $ 15,530 $ (7,506,888) 1,313,682 $ 8,820,570
11,372,026 806,845 44,518,954
101,036 101,036
S 8,620,918 $ 831,875 S 45,933,672
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CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2000
NOTE #1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Moorpark (the City), accounts for its financial operations in accordance with generally accepted
accounting principles applicable to governmental units. Accordingly, the City uses several fund types and
account groups as described below.
A. Fund Types and Account Groups
• 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.
B. 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.
• 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.
8
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(Continued)
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
Governmental fund types use the modified-accrual basis of accounting. Revenues are recognized when
available and measurable. Revenues considered susceptible to accrual include property taxes, sales taxes
collected by the state on behalf of the City prior to year-end, certain other intergovernmental revenues and
interest. In accruing intergovernmental revenues, such as grants and state subsidies, the legal and
contractual requirements are used as guidance. Revenues which are not considered susceptible to accrual
include motor vehicle license fees, certain other licenses and fees, fines, forfeitures and penalties.
Expenditures are recorded when the related liability is incurred.
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 $1,865,369 at June 30,
2000, are to be repaid over a indeterminate period of time, and bear simple interest at a rate of 8% 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%annually
9
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2000
NOTE#1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(Continued)
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 March 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.
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
$1,500,000 at June 30, 2000. Such property represents land purchased by the Agency for redevelopment
purposes. Land is valued at the lower of cost or estimated net realizable value (as determined by a
disposition and development agreement between the Agency and/or the City and a developer, when signed).
H. Property and Equipment
Acquisitions of property and equipment are recorded as expenditures in governmental fund types at the time
of purchase. These assets, when over$500 each, are capitalized at cost in the General Fixed Assets Account
Group. Contributed assets are recorded at the fair market value at the date of donation. Expenditures for
infrastructure (roads, curbs, sidewalks, and the like) are not capitalized as such assets are immovable and
generally of value only to the City. No depreciation is provided for assets capitalized in the General Fixed
Assets Account Group.
10
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30,2000
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) 1
voluntary nonexchange transactions(for example certain grants and private donations).
The implementation may have a material effect on the financial statements of the City. Any material effect
will be recognized as a prior period adjustment.
11
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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
30,2000, were $1,183,660.
12
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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 generally accepted accounting principles 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.
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.
13
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE#3— CASH AND INVESTMENTS(Continued)
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, 2000 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, 2000 are as follows:
Unrestricted cash and investments $39,115,418
Restricted cash and investments 1,082,005
Total Cash and Investments $40,197,423
The cash and investments are aggregated as follows:
Deposits $ 3,600,686
Petty Cash 660
Investments 36,596,077
Total Cash and Investments $40,197,423
14
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE #3— CASH AND INVESTMENTS(Continued)
The City's deposits at June 30, 2000 are categorized in the following table:
BANK BALANCE-
CATEGORY BANK CARRYING
1 2 3 BALANCES AMOUNTS
Categorized
Deposits held with banks $ 363,508 $3,006,323 $ 3,369,831 $ 3,600,686
Total $ 363,508 $3,006,323 $ 3,369,831 $ 3,600,686
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 department 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 department or agent but not in the City's name.
The City's investments at June 30, 2000 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 * 47,397 47,397
State Treasurer's Local Agency
Investment Fund (1) * 35,774,252 35,733,668
Common Stock-Disney $ 3,328 3,328
Total S 3,328 $ - $ - $36,592,749 $36,555,493
* Not required to be categorized.
15
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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, 2000, the carrying amount of the pool was
$43,030,301,594 and the estimated market value for the pool (including accrued interest) was
$43,453,950,163. The City's proportionate share of that value is $35,774,252. Included in LAIF's
investment portfolio are certain derivative securities or similar products in the form of structured notes
totaling $1,909,398,000, and asset-backed securities totaling $770,758,000. LAIF'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 (State of California LAIF &county treasury 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 (LAIF): 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$35,774,252 whose pro-rata share of fair value was estimated by the
state Treasurer to be $35,733,668. 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 ("LAIF") 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.
16
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE#4—LONG-TERM DEBT
The following is a schedule of changes in long-term debt for the fiscal year ended June 30, 2000:
Balance Balance
Beginning of End of
Year Additions Deletions Year
A. Employee compensated absences payable $ 180,031 $ 16,074 $ 196,105
B. Long-term advances from the General Fund 4,365,369 $ 2,500,000 1,865,369
C. 1999 Tax Allocation Bonds 9,860,000 320,000 9,540,000
Totals $14,405,400 $ 16,074 $ 2,820,000 $11,601,474
A. Employee Compensated Absences Payable
In accordance with generally accepted accounting principles, 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 $865,369
at the beginning of the fiscal year and were completely repaid during the 1999-2000 fiscal year. During the
fiscal year ended June 30, 1994, the City's General Fund also advanced $3.5 million to purchase certain
properties within the Redevelopment Agency project area (long-term advance). This long-term advance
accrues interest at 8 percent and is to be repaid over an indeterminate period. During the 1999-2000 fiscal
year, the Agency paid $1,634,631 on the long-term advance. The balance of the advance from the General
fund totaled $1,865,369 at June 30, 2000.
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.
17
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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
2001 $ 345,000 $ 420,193 $ 765,193
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
Thereafter 7,700,000 2,879,700 10,579,700
Total $ 9,540,000 $4,855,733 $ 14,395,733
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, 2000, the amount of defeased debt outstanding but removed
from the General Long-Terms Debt Account Group amounted to $8,660,000.
18
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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.
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% of the County
Taxing Entities share (55.82%) 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% 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% of its share (1.53%)
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%) of tax
increment revenues generated by an annual 2% increase in assessed valuation, and beginning in fiscal year
1995-96, 14% 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 (estimated at$331,000) has been paid.
19
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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%) of tax increment revenues generated by an annual
2% increase in assessed valuation, and, beginning in fiscal year 1993-94, 14% 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
states that the Superintendent shall receive its share 910.28%) of tax increment revenues generated by an annual
2% 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 (CaIPERS), 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.
20
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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, 2000
was .826 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, 2000, the City of Moorpark's annual pension cost and its actual contributions
were $18,373. The City also contributed$152,322 on behalf of employees. Employees directly contributed
$0. Total contributions were $170,695. The required contribution for the year ended June 30, 2000 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
6/30/98 $82,374 100% $0
6/30/99 $91,092 100% $0
6/30/00 $18,373 100% $0
21
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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
6/30/97 $2,029,821 $2,728,583 ($698,762) 134.4% $1,746,190 (40.02)%
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)%
NOTE #8—PROPERTY AND EQUIPMENT
A summary of changes in general fixed assets for the year ended June 30, 2000 follows:
Balance Balance
Beginning of End of
Year Additions Deletions Year
Land $ 9,941,039 $ 9,941,039
Buildings and structures 3,712,775 3,712,775
Improvements other than buidlings 5,395,709 5,395,709
Office furniture and equipment 1,068,217 $ 36,208 1,104,425
Other equipment 1,029,484 37,597 1,067,081
Totals $21,147,224 $ 73,805 $ 21,221,029
22
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
NOTE#9—INTERFUND TRANSACTIONS
A summary of operating transfers and interfund receivables/payables as of and for the year ended June 30,2000
is included in the following table:
Operating Operating Due From Due To
Transfers In Transfers Out Other Funds Other Funds
General Fund $ 812,620 $ 936,912
Special Revenue Funds
Traffic System Management Fund
Citywide Traffic Assistance
Local Transportation Streets Fund
Local Transportation Transit Fund
Assessment District Fund $ 250,654 $ 42,461
Park Development 176,000
Areas of Contribution Fund 2,160,752 1,675,105
Low-and Moderate-Income Housing Fund 133,838 9,479
ISTEA Fund 633,999
State Gas Tax Fund
State Transit Assistance
Solid Waste 501,466
Other Grants Fund 76,340
CDBG Entitlement Fund 2,303
Total Special Revenue Funds 752,120 133,838 2,160,752 2,615,687
Capital Projects Funds
Capital Projects Funds
Equipment Replacement Fund 60,500
Redevelopment Agency Fund 535,351 481,977
Total Capital Projects Funds 60,500 535,351 $ 481,977
Debt Service Fund 669,189
Total $ 1,481,809 $ 1,481,809 $ 3,097,664 $ 3,097,664
23
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
RINE 30, 2000
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$3,437,102 for the year ended June 30, 2000.
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. The unpaid principal balance on the refinanced bonds is $21,700,000 at June 30, 2000.
24
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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 30,2000.
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, 2000 total
$15,375,000.
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 $2,230,000 at June 30, 2000.
25
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000
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 $7,525,000 at June 30, 2000.
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, 2000
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 $7,936,610. 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
NNE 30, 2000
NOTE#14—FUND BALANCES
The State Gas Tax Special Revenue Fund has designated $109,002 for replacement of equipment. The
Redevelopment Agency has designated $4,140,056 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. It is uncertain what effect the proposition will have on taxes collected after
January 1995, if voter approval has not been obtained by the due date.
NOTE #17—PRIOR PERIOD ADJUSTMENT
The agency has recorded a prior period adjustment of$101,036 in the Capital Projects Fund to restate the
beginning balance of notes receivable to the proper balance.
28
CITY OF MOORPARK
COMBINING BALANCE SHEET
ALL SPECIAL REVENUE FUNDS
JUNE 30,2000
(With Comparative Amounts for June 30, 1999)
Traffic Citywide Local
Traffic System Traffic Transportation
Safety Management Mitigation _ Streets
ASSETS
Cash and Investments $ 156,297 $ 1,522,397 $ 1,754,491 $ 2,324,109
Restricted cash and investments
Accounts and interest receivable,net 30,084 20,839 23,305 32,559
Taxes receivable
Notes&loans receivable 119,868
Due from other funds
Other assets
Land held for resale
Total Assets $ 186,381 $ 1,663,104 $ 1,777,796 $ 2,356,668
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 2,144 112 47,697
Deposits,principally from developers
Due to other funds
Deferred revenue 119,868
Total Liabilities 2,144 119,868 112 47,697
FUND BALANCES
Fund balances and other credits:
Reserved for encumbrances 24,981
Reserved for receivables due after one year,net
Reserved for land held for resale
Reserved for low/moderate income housing
Unreserved:
Designated
Undesignated 184,237 1,518,255 1,777,684 2,308,971
Total Fund Balances 184,237 1,543,236 1,777,684 2,308,971
Total Liabilities and Fund Balances $ 186,381 S 1,663,104 $ 1,777,796 $ 2,356,668
29
Local
Transportation Crossing Assessment Areas of Park Community Affordable
Transit Guard District Contributions Development Development Housing
$ 146,422 $ 105,177 $ 502,311 $ 8,143,428 $ 789,465 S 575,457 S 586,695
263,508
576 1,622 6,256 116,626 125,531 328 8,842
31,968
467,778 2,801 62,533
2,160,752
$ 146,998 $ 106,799 S 540,535 $ 11,152,092 $ 917,797 5 575,785 $ 658,070
16,836 159,270 463,115 56,952 372,980 723
42,461 1,675,105 176,000
129,567 188,351 2,801
146,403 201,731 2,326,571 235,753 372,980 723
595 1,364 77,933 19,812 62,533
467,778
106,799 337,440 8,279,810 662,232 202,805 594,814
595 106,799 338,804 8,825,521 682,044 202,805 657,347
S 146,998 $ 106,799 $ 540,535 $ 11,152,092 $ 917,797 S 575,785 $ 658,070
30
CITY OF MOORPARK
COMBINING BALANCE SHEET (Continued)
ALL SPECIAL REVENUE FUNDS
JUNE 30, 2000
(With Comparative Amounts for June 30, 1999)
Low and State State
Moderate Gas Transit
Income Housing Tax _ Assistance
ASSETS
Cash and Investments $ 1,583,748 $ 1,814,746 $ 2,237
Restricted cash and investments
Accounts and interest receivable,net 20,023 34,034 845
Taxes receivable 5,075
Notes&loans receivable 128,268
Due from other funds
Other assets 31
Land held for resale 1,500,000
Total Assets $ 3,237,145 $ 1,848,780 $ 3,082
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 2,222 37,362
Deposits,principally from developers 26,500
Due to other funds 9,479
Deferred revenue 2,000
Total Liabilities 38,201 39,362
FUND BALANCES
Fund balances and other credits:
Reserved for encumbrances 251 29,361
Reserved for receivables due after one year,net 128,268
Reserved for land held for resale 1,500,000
Reserved for low/moderate income housing 1,570,425
Unreserved:
Designated 109,002
Undesignated 1,671,055 3,082
Total Fund Balances 3,198,944 1,809,418 3,082
Total Liabilities and Fund Balances $ 3,237,145 $ 1,848,780 $ 3,082
31
Transportation Police
Development CDBG Other Facilities Fee Solid
Act(Article 3) I.S.T.E.A. Entitlement Grants Endowment Fund Waste
$ 43,978 $ 4,739,652 $ 761,012 $ 609,277
1,493 $ 633,999 $ 6,272 $ 121,921 71,278 11,196 32,483
$ 45,471 $ 633,999 $ 6,272 $ 121,921 $ 4,810,930 $ 772,208 $ 641,760
3,969 10,690
633,999 2,303 76,340
633,999 6,272 76,340 10,690
45,471 45,581 4,810,930 772,208 631,070
1 45,471 45,581 4,810,930 772,208 631,070
$ 45,471 $ 633,999 $ 6,272 $ 121,921 $ 4,810,930 $ 772,208 $ 641,760
0
CITY OF MOORPARK
COMBINING BALANCE SHEET(Continued)
ALL SPECIAL REVENUE FUNDS
JUNE 30,2000
(With Comparative Amounts for June 30, 1999)
TOTALS
2000 1999
ASSETS
Cash and Investments $ 26,160,899 $ 22,766,694
Restricted cash and investments 263,508
Accounts and interest receivable,net 1,300,112 1,530,372
Taxes receivable 37,043
Notes&loans receivable 781,248 119,868
Due from other funds 2,160,752 1,364,703
Other assets 31
Land held for resale 1,500,000 1,500,000
Total Assets $ 32,203,593 $ 27,281,637
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 1,174,072 409,899
Deposits,principally from developers 26,500 25,000
Due to other funds 2,615,687 1,552,616
Deferred revenue 442,587 452,768
Total Liabilities 4,258,846 2,440,283
FUND BALANCES
Fund balances and other credits:
Reserved for encumbrances 216,830 7,321,576
Reserved for receivables due after one year,net 596,046 1,236,204
Reserved for land held for resale 1,500,000 1,500,000
Reserved for low/moderate income housing 1,570,425 1,273,206
Unreserved:
Designated 109,002 109,002
Undesignated 23,952,444 13,401,366
Total Fund Balances 27,944,747 24,841,354
Total Liabilities and Fund Balances $ 32,203,593 $ 27,281,637
33
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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, 2000
(With Comparative Amounts for the Fiscal Year Ended June 30, 1999)
Traffic Citywide Local
Traffic System Traffic Transportation
Safety Management Mitigation Streets
REVENUES
Property taxes
Other taxes
Utility franchise fees
Building and safety fees
Maintenance assessments $ 398,970 $ 479,392 $ 7,482
Subventions and grants 662,927
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures $ 125,126
Interest 7,114 71,041 78,378 115,526
Other
132,240 470,011 557,770 785,935
Total Revenues
EXPENDITURES
Current:
General government
Public safety 29,400
Public services 39,101
Parks and recreation
Capital outlay 21,964 112 640,175
Debt service
Principal
Interest
Total Expenditures 68,501 21,964 112 640,175
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 63,739 448,047 557,658 145,760
OTHER FINANCING SOURCES(USES)
Operating transfers in
Proceeds from special district dissolution
Operating transfers out
Total Other Financing Sources(Uses)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 63,739 448,047 557,658 145,760
Fund Balances,Beginning of Year 120,498 _ 1,095,189 1,220,026 2,163,211
Fund Balances, End of Year $ 184,237 $ 1,543,236 S 1,777,684 $ 2,308,971
34
Local
Transportation Crossing Assessment Areas of Park Community Affordable
Transit Guard District Contributions Development Development Housing
$ 8,521
453,189
$ 1,144,141 $ 734,391 $ 41,534
$ 88,698 1,949,385 113,342
1,315,327
133,543
18,300 1,500 (17,786) 12,039 8,236
2,075 2,370
1,495 $ 5,792 21,408 434,254 41,619 $ 35,751
2,406 555 7,549
108,493 5,792 1,171,530 3,100,244 342,077 1,788,198 43,300
3,000 300
8,041
107,891 639,563 27,367 1,777,787 11,541
687,657 2,130
7 11,221 2,654,124 287,889 5,638
107,898 8,041 1,341,441 2,681,791 290,019 1,783,425 11,541
595 (2,249) (169,911) 418,453 52,058 4,773 31,759
250,654
250,654
595 (2,249) 80,743 418,453 52,058 4,773 31,759
109,048 258,061 8,407,068 629,986 198,032 625,588
S 595 S 106,799 $ 338,804 $ 8,825,521 S 682.044 S 202.805 S 657,347
35
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30,2000
(With Comparative Amounts for the Fiscal Year Ended June 30, 1999)
Low and State State
Moderate Gas Transit
Income Housing Tax Assistance
REVENUES
Property taxes S 399,572
Other taxes S 552,225
Utility franchise fees
Building and safety fees
Maintenance assessments
Subventions and grants 418
Planning and public works fees
Park development fees
Charges for current services 10,231 646
Fines and forfeitures
Interest 73,996 98,173 5 3,135
Other 6,563
483,799 658,025 3,135
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public services 62,961 567,425 64,000
Parks and recreation
Capital outlay 1,546 112,463
Debt service
Principal
Interest and fiscal
Total Expenditures 64,507 679,888 64,000
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 419,292 (21,863) (60,865)
OTHER FINANCING SOURCES(USES)
Operating transfers in
Proceeds from special district dissolution
Operating transfers out (133,838)
Total Other Financing Sources(Uses) (133,838)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 285,454 (21,863) (60,865)
Fund Balances,Beginning of Year 2,913,490 1,831,281 63,947
Fund Balances,End of Year S 3,198,944 S 1,809,418 S 3,082
36
Transportation Police
Development CDBG Other Facilities Fee Solid
Act(Article 3) I.S.T.E.A. Entitlement Grants Endowment Fund Waste
$ 194,497
$ 330,759 $ 61,083
$ 18,000 $ 633,999 $ 484,797 $ 112,070 $ 28,863
880 1,100
5,473 89,662 39,100 31,640
24,353 633,999 485,897 112,070 420,421 100,183 255,000
19,851
46,968 123,724
11,388
76,697 633,999 427,541 92,218 1,672
76,697 633,999 485,897 112,069 125,396
(52,344) 1 420,421 100,183 129,604
501,466
501,466
(52,344) 1 420,421 100,183 631,070
97,815 45,580 4,390,509 672,025
$ 45,471 $ - $ - $ 45,581 $ 4,810,930 $ 772,208 $ 631,070
37
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30,2000
(With Comparative Amounts for the Fiscal Year Ended June 30, 1999)
TOTALS
2000 1999
REVENUES
Property taxes $ 399,572
Other taxes 560,746 $ 560,353
Utility franchise fees 194,497
Building and safety fees 453,189 290,234
Maintenance assessments 3,197,752 3,859,161
Subventions and grants 4,092,499 744,285
Planning and public works fees 1,315,327 760,772
Park development fees 133,543 136,805
Charges for current services 35,146 198,950
Fines and forfeitures 129,571 135,245
Interest 1,153,557 909,641
Other 17,073 80,965
11,682,472 7,676,411
Total Revenues
EXPENDITURES
Current:
General government 3,300 47,172
Public safety 57,292
Public services 3,468,328 2,667,025
Parks and recreation 701,175 7,600
Capital outlay 4,967,266 237,689
Debt service
Principal 163,202
Interest and fiscal 7,800
Total Expenditures 9,197,361 3,130,488
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 2,485,111 4,545,923
OTHER FINANCING SOURCES(USES)
Operating transfers in 752,120 825,074
Proceeds from special district dissolution 1,452,845
Operating transfers out (133,838) (2,324,569)
Total Other Financing Sources(Uses) 618,282 (46,650)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 3,103,393 4,499,273
Fund Balances,Beginning of Year 24,841,354 20,342,081
Fund Balances,End of Year S 27,944,747 $ 24,841,354
38
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CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES (DEFICITS) -BUDGET AND ACTUAL
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30,2000
Traffic
Traffic System
Safety Management
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Property taxes
Other taxes
Utility franchise fees
Building and safety fees
Maintenance assessments $ 398,970 $ 398,970
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures $ 90,000 $ 125,126 $ 35,126
Interest 3,300 7,114 3,814 $ 56,000 71,041 15,041
Other 100 (100)
Total Revenues 93,400 132,240 38,840 56,000 470,011 414,011
EXPENDITURES
Current:
General government
Public safety 32,195 29,400 2,795
Public services 50,955 39,101 11,854
Parks and recreation
Capital outlay 47,200 21,964 25,236
Total Expenditures 83,150 68,501 14,649 47,200 21,964 25,236
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 10,250 63,739 53,489 8,800 448,047 439,247
OTHER FINANCING SOURCES(USES)
Operating transfers in
Operating transfers out
Total Other Financing Sources(Uses)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ 10,250 63,739 $ 53.489 $ 8.800 448,047 $ 439,247
Fund Balances,Beginning of Year 120,498 1,095,189
Fund Balances,End of Year $ 184,237 $ 1,543,236
•
39
Citywide Local Local
Traffic Transportation Transportation
Mitigation Streets Transit
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 479,392 $ 479,392 $ 7,482 $ 7,482
$ 662,927 662,927 $ 171,320 $ 88,698 $ (82,622)
18,250 18,300 50
$ 60,000 78,378 18,378 90,000 115,526 25,526 1,500 1,495 (5)
60,000 557,770 497,770 752,927 785,935 33,008 191,070 108,493 (82,577)
133,120 107,891 25,229
10,000 112 9,888 1,208,023 640,175 567,848 1,200 7 1,193
10,000 112 9,888 1,208,023 640.175 567,848 134,320 107,898 26,422
50,000 557,658 507,658 (455,096) 145,760 600.856 56.750 595 (56,155)
$ 50.000 557,658 $ 507,658 $ (455.096) 145,760 $ 600.856 $ 56.750 595 $ (56,155)
1,220,026 2,163,211
$ 1.777,684 $ 2,308,971 $ 595
40
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES(DEFICITS) -BUDGET AND ACTUAL (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
Crossing Assessment
Guard District
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Property taxes
Other taxes
Utility franchise fees
Building and safety fees
Maintenance assessments $ 1,091,452 $ 1,144,141 $ 52,689
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services 3,000 1,500 (1,500)
Fines and forfeitures 2,075 2,075
Interest $ 6,100 $ 5,792 $ (308) 21,408 21,408
Other 2,406 2,406
Total Revenues 6,100 5,792 (308) 1,094,452 1.171.530 77,078
EXPENDITURES
Current:
General govemment 3,000 3,000
Public safety 11,480 8,041 3,439
Public services 679,043 639,563 39,480
Parks and recreation 771,241 687,657 83,584
Capital outlay _ 33,400 11,221 22,179
Total Expenditures 11,480 8.041 3,439 1,486,684 1.341,441 145,243
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (5,380) (2,249) 3,131 (392,232) (169,911) 222,321
OTHER FINANCING SOURCES(USES)
Operating transfers in 371,945 250,654 (121,291)
Operating transfers out
Total Other Financing Sources(Uses) 371,945 250.654 (121,291)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ (5,380) (2,249) $ 3,131 $ (20,287) 80,743 $ 101,030
Fund Balances,Beginning of Year 109,048 258.061
Fund Balances,End of Year $ 106,799 $ 338.804
41
Areas of Park Community
Contributions Development Development
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual _ (Unfavorable)
$ 8,920 $ 8,521 $ (399)
446,619 453,189 6,570
$ 752,000 $ 734,391 $ (17,609) $ 175,000 5 41,534 S (133,466)
1,948,000 1,949,385 1,385 113,342 113,342
2,424,718 1,315,327 (1,109,391)
1,000,000 133,543 (866,457)
300,000 (17,786) (317,786) 12,039 12,039 800 8,236 7,436
2,370 2,370
57,700 434,254 376,554 39,670 41,619 1,949
555 555
3,057,700 - 3,100,244 42,544 1,214,670 342,077 (72,593) 2,881,057 1,788.198 (1,092,859)
300 300
7,570 27,367 (19,797) 2,677,293 1,777,787 899,506
4,000 2,130 1,870
6,508,570 2,654,124 3,854,446 355,130 287,889 67,241 7,100 5,638 1,462
6,516,440 2,681,791 3,834,649 359,130 290,019 69,111 2,684,393 1,783,425 900,968
(3.458,740) 418,453 3,877,193 855,540 52,058 (803,482) 196,664 4,773 (191,891)
5 (3,458,740) 418,453 $ 3,877,193 $ 855,540 52,058 S (803,482) $ 196,664 4,773 $ (191,891)
8,407,068 629,986 198,032
$ 8,825,521 $ 682,044 $ 202.805
42
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES (DEFICITS)-BUDGET AND ACTUAL (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
Low and
Affordable Moderate
Housing Income Housing
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Property taxes $ 399,400 $ 399,572 $ 172
Other taxes
Utility franchise fees
Building and safety fees
Maintenance assessments
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services 10,231 10,231
Fines and forfeitures
Interest $ 31,000 $ 35,751 $ 4,751 55,000 73,996 18,996
Other 7,549 7,549
Total Revenues 31,000 43,300 12,300 454,400 483.799 29,399
EXPENDITURES
Current:
General government
Public safety
Public services 94,720 11,541 83,179 290,845 62,961 227,884
Parks and recreation
Capital outlay 1,300 1,546 (246)
Total Expenditures 94,720 11.541 83,179 292,145 64,507 227,638
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES _ (63,720) 31,759 95,479 162,255 419,292 257,037
OTHER FINANCING SOURCES(USES)
Operating transfers in
Operating transfers out (134,000) (133.838) 162
Total Other Financing Sources(Uses) (134,000) (133,838) 162
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ (63,720) 31,759 $ 95,479 $ 28,255 285,454 $ 257,199
Fund Balances,Beginning of Year 625,588 2,913,490
Fund Balances,End of Year $ 657.347 $ 3.198.944
43
State State Transportation
Gas Transit Development
Tax Assistance Act(Article 3)
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 551,000 5 552,225 $ 1,225
418 418 $ 18,000 $ 18,000
646 646 880 $ 880
73,000 98,173 25,173 $ 3,000 $ 3,135 $ 135 3,200 $ 5,473 2,273
6.563 6,563
624,000 658,025 34,025 3,000 3,135 135 21,200 24,353 3,153
670,651 567,425 103,226 64,000 64,000
180.963 112,463 68,500 30,000 30.000 83,000 76,697 6,303
851,614 679,888 171,726 94,000 64,000 30,000 83,000 76,697 6,303
(227,614) (21,863) 205,751 (91,000) (60.865) 30,135 (61,800) (52,344) 9,456
$ (227,614) (21,863) $ 205,751 $ (91,000) (60,865) $ 30,135 $ (61,800) (52,344) $ 9,456
1,831,281 63,947 97,815
$ 1,809.418 5 3.082 $ 45.471
44
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES (DEFICITS) -BUDGET AND ACTUAL (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30,2000
CDBG
1.S.T.E.A. Entitlement
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Property taxes
Other taxes
Utility franchise fees
Building and safety fees
Maintenance assessments
Subventions and grants $ 1,170,000 $ 633,999 $ (536,001) $ 850,563 $ 484,797 $ (365,766)
Planning and public works fees
Park development fees
Charges for current services 1,100 1,100
Fines and forfeitures
Interest
Other
Total Revenues 1,170,000 633.999 (536.001) 850,563 485,897 (364,666)
EXPENDITURES
Current:
General government
Public safety
Public services 41,765 46,968 (5,203)
Parks and recreation 10,114 11,388 (1,274)
Capital outlay 2,058,799 633,999 1,424,800 798,684 427,541 371,143
Total Expenditures 2,058,799 633,999 1,424,800 850,563 485,897 364,666
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (888,799) 888,799
OTHER FINANCING SOURCES(USES)
Operating transfers in
Operating transfers out
Total Other Financing Sources(Uses)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ (888399) $ 888.799 $ -
Fund Balances,Beginning of Year
Fund Balances,End of Year
45
Police
Other Facilities Fee
Grants Endowment Fund
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 330,759 $ 330,759 130,000 S 61,083 $ (68,917)
$ 131,658 $ 112,070 $ (19,588)
$ 89,057 89,662 605 $ 35,000 39,100 4,100
300 (300)
131.658 112.070 (19,588) 89,357 420,421 331,064 165,000 100,183 (64,817)
36,691 19,851 16,840
12,450 12,450
92.219 92,218 1
141,360 112,069 29,291
(9,702) 1 9,703 89,357 420,421 331,064 165,000 100,183 (64,817)
$ (9,702) 1 $ 9,703 $ 89,357 420,421 $ 331.064 $ 165,000 100,183 $ (64.817)
45.580 4.390,509 672,025
S 45,581 $ 4,810,930 S 772.208
46
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES (DEFICITS)-BUDGET AND ACTUAL (Continued)
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30,2000
Solid
Waste Total
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Property taxes $ 399,400 $ 399,572 $ 172
Other taxes 559,920 560.746 826
Utility franchise fees $ 186,450 $ 194,497 $ 8,047 186,450 194.497 8,047
Building and safety fees 446,619 453.189 6,570
Maintenance assessments 2,148,452 3,197,752 1,049,300
Subventions and grants 28,800 28,863 63 4,981,268 4.092,499 (888,769)
Planning and public works fees 2,424,718 1.315.327 (1,109,391)
Park development fees 1,000,000 133.543 (866,457)
Charges for current services 322,050 35,146 (286,904)
Fines and forfeitures 90,000 129.571 39,571
Interest 24,000 31,640 7,640 627,527 1,153.557 526,030
Other 400 17.073 16.673
Total Revenues 239,250 255,000 15,750 13,186,804 11.682.472 (1,504,332)
EXPENDITURES
Current:
General government 3,300 3,300 -
Public safety 80,366 57.292 23,074
Public services 167,925 123,724 44,201 4,890,337 3,468.328 1,422,009
Parks and recreation 785,355 701,175 84,180
Capital outlay 1,800 1,672 128 11,417,388 4,967.266 6,450,122
Total Expenditures 169,725 125,396 44,329 17.176,746 9.197.361 7,979,385
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 69,525 129,604 60,079 (3,989,942) 2.485.111 6,475,053
OTHER FINANCING SOURCES(USES)
Operating transfers in 501,466 501,466 371,945 752,120 380,175
Operating transfers out (134,000) (133.838) 162
Total Other Financing Sources(Uses) 501,466 501,466 237,945 618.282 380,337
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ 69,525 631,070 $ 561,545 $ (3.751,997) 3,103,393 $ 6,855,390
Fund Balances,Beginning of Year 24.841.354
Fund Balances,End of Year $ 631,070 $27.944.747
47
CITY OF MOORPARK
COMBINING BALANCE SHEET
ALL CAPITAL PROJECTS FUNDS
JUNE 30,2000
(With Comparative Amounts for June 30, 1999)
TOTALS
City Hall Equipment Redevelopment
Building Replacement Agency 2000 1999
ASSETS
Cash and Investments $ 433,208 $ 299,150 $ 4,502,344 $ 5,234,702 $ 7,938,892
Accounts and interest receivable,net 6,696 4,620 251,714 263,030 477,690
Taxes receivable 20,298 20,298
Notes&loans receivable 3,737,740 3,737,740 3,687,414
Other assets 10,086 10,086
Total Assets $ 439,904 $ 303,770 $ 8,522,182 S 9,265,856 $ 12,103,996
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 924 159,667 160,591 729,600
Deposits,principally from developers 2,370 2,370 2,370
Due to other funds 481,977 481,977
Total Liabilities 924 644,014 644,938 731,970
FUND BALANCES
Fund balances and other credits:
Fund balances:
Reserved for encumbrances 372 372 136,359
Reserved for receivables due after one year,net 3,737,740 3,737,740 3,775,112
Unreserved:
Designated for business incentives 233,678 233,678 233,678
Designated for capital projects 3,906,378 3,906,378 6,555,954
Undesignated 439,904 302,846 742,750 670,923
Total Fund Balances 439,904 302,846 7,878,168 8,620,918 11,372,026
Total Liabilities and Fund Balances $ 439,904 $ 303,770 $ 8,522,182 $ 9,265,856 $ 12,103,996
48
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CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL CAPITAL PROJECTS FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30,2000
(With Comparative Amounts for the Fiscal Year Ended June 30, 1999)
TOTALS
City Hall Equipment Redevelopment
Building Replacement Agency 2000 1999
REVENUES
Property taxes $ 1,589,397 S 1,589,397 $ 1,785,733
Other taxes 300 300
Maintenance assessments (2,250)
Charges for current services 108,532 108,532 112,299
Fines and forfeitures 1,755 1,755
Interest $ 23,808 $ 15,562 412,604 451,974 1,089,363
Other 22,495
Total Revenues 23,808 15,562 2,112,588 2,151,958 3,007,640
EXPENDITURES
Current:
General government 20,894 304 21,198 691,096
Public services 1,386,922 1,386,922 290,319
Parks and recreation 38,658
Capital outlay 15,569 255,562 271,131 1,682,472
Debt service
Principal 2,500,000 2,500,000 2,500,000
Interest 350,000 350,000 475,000
Total Expenditures 20,894 15,873 4,492,484 4,529,251 5,677,545
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 2,914 (311) (2,379,896) (2,377,293) (2,669,905)
OTHER FINANCING SOURCES(USES)
Operating transfers in 60,500 60,500 1,919,516
Operating transfers out (535,351) (535,351) (1,025,075)
Total Other Financing Sources(Uses) 60,500 (535,351) (474,851) 894,441
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 2,914 60,189 (2,915,247) (2,852,144) (1,775,464)
Fund Balances,Beginning of Year 436,990 242,657 10,692,379 11,372,026 13,147,490
Prior Period Adjustment 101,036 101,036
Fund Balances,End of Year $ 439,904 $ 302,846 $ 7,878,168 $ 8,620,918 $ 11,372,026
49
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 30,2000
City Hall Equipment
Building Replacement
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Property taxes
Other taxes
Charges for current services
Fines and forfeitures
Interest $ 22,000 $ 23,808 $ 1,808 $ 18,000 $ 15,562 $ (2,438)
Total Revenues 22,000 23,808 1,808 18,000 15,562 (2,438)
EXPENDITURES
Current:
General government 25,324 20,894 4,430 304 (304)
Public services
Capital outlay 41,315 15,569 25,746
Debt service
Principal
Interest
Total Expenditures 25,324 20,894 4,430 41,315 15,873 25,442
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (3,324) 2,914 6,238 (23,315) (311) 23,004
OTHER FINANCING SOURCES(USES)
Operating transfers in 60,500 60,500
Operating transfers out
Total Other Financing Sources(Uses) 60,500 60,500
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ (3,324) 2,914 $ 6,238 $ 37,185 60,189 $ 23,004
Fund Balances,Beginning of Year 436,990 242,657
Prior Period Adjustment
Fund Balances,End of Year $ 439.904 $ 302,846
50
Redevelopment
Agency Total
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 1,597,800 $ 1,589,397 $ (8,403) $ 1,597,800 $ 1,589,397 $ (8,403)
300 300 300 300
106,842 108,532 1,690 106,842 108,532 1,690
1,755 1,755 1,755 1,755
400,000 412,604 12,604 440,000 451,974 11,974
2,104,642 2,112,588 7,946 2,144,642 2,151,958 7,316
25,324 21,198 4,126
1,551,028 1,386,922 164,106 1,551,028 1,386,922 164,106
440,200 255,562 184,638 481,515 271,131 210,384
2,500,000 2,500,000 2,500,000 2,500,000
352,900 350,000 2,900 352,900 350,000 2,900
4,844,128 4,492,484 351,644 4,910,767 4,529,251 381,516
(2,739,486) (2,379,896) 359,590 (2,766,125) (2,377,293) 388,832
60,500 60,500
(536,000) (535,351) 649 (536,000) (535,351) 649
(536,000) (535,351) 649 (475,500) (474,851) 649
$ (3,275,486) (2,915,247) $ 360,239 $ (3,241,625) (2,852,144) $ 389,481
10,692,379 11,372,026
101,036 101,036
$ 7,878,168 $ 8,620,918
51
CITY OF MOORPARK
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUND-DEVELOPER DEPOSIT FUND
FOR THE FISCAL YEAR ENDED JUNE 30,2000
Balance Net Net Balance
Fund Name June 30, 1999 Additions Reductions June 30, 2000
Cash and investments $ 1,167,092 $492,350 $ 1,659,442
Accounts receivable 725 $ 725 -
Total Assets $ 1,167,817 $492,350 $ 725 $ 1,659,442
Accounts payable 240,848 70,540 170,308
Developer deposits 926,969 562,165 1,489,134
Total Liabilities $ 1,167,817 $562,165 $ 70,540 $ 1,659,442
52
STATISTICAL SECTION
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
1990 $ 2,492,774 $ 1,972,453 $ 959,679 $ 1,109,988 $ 1,667,660 $ 446,341 $ 8,648,895
1991 3,097,029 2,403,152 1,234,493 1,046,698 1,726,514 322,208 9,830,094
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
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.
Source: City of Moorpark
53
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
1990 $ 960,745 $ 1,621,378 $ 1,483,208 $ 520,906 $ 1,765,924 $ 20,117 $ 6,372,278
1991 1,095,824 1,887,083 1,867,800 588,433 1,829,471 15,669 7,284,280
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
Governmental Fund Types include General Fund and all Special Revenue, Debt Service and Capital Projects
Funds.
Source: City of Moorpark
54
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
1990 $ 1,301,568,464 $ 50,266,437 $ 1,351,834,901 18.0% $ 31,984,786
1991 1,497,088,093 53,118,248 1,550,206,341 14.7% 32,781,724
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 10.6% 40,240,720
2000 2,149,505,500 84,834,286 2,234,339,786 12.2% 40,687,060
Source: Ventura County Assessor
55
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
1994 $ 1,014,559 $ 47,974 4.7%
1995 1,071,364 36,880 3.4%
1996 1,109,404 26,390 2.4%
1997 1,158,953 24,705 2.1%
1998 1,191,918 21,807 1.8%
1999 1,374,741 25,687 1.9%
Source: California Municipal Statistics, Inc.
56
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&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&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
* Excludes tax and revenue anticipation notes, revenue, mortgage revenue and tax allocation bonds and
non-bonded capital lease obligations.
Source: California Municipal Statistics, Inc.
57
CITY OF MOORPARK
COMPUTATION OF LEGAL DEBT MARGIN AND
BREAKDOWN OF GENERAL PROPERTY TAX LEVY
Legal Debt Margin as of June 30, 2000
Assessed Valuation:
Secured property assessed value: $ 2,149,505,500
Bonded Debt Limit(15% of Assessed Value) $ 322,425,825
Amount of Debt Subject to Debt Limit
Total Bonded Debt $ 9,540,000
Less CRA Tax Allocation Bonds 9,540,000
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
58
CITY OF MOORPARK
CITY POPULATION
LAST TEN YEARS
Percent
Year Population Change
1990 25,269 4.2%
1991 25,917 2.6%
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%
i
Source: City of Moorpark, and State Department of Finance
59
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
1990 $ 13,700,590 450 $ 11,503,595 106 $ 25,204,185
1991 $ 6,768,059 254 $ 1,862,521 51 $ 8,630,580
1992 $ 26,464,476 282 $ 3,350,958 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
Source: City of Moorpark,
60
CITY OF MOORPARK
LARGEST PROPERTY OWNERS
PER ASSESSED VALUATION 1998
Assessed
Value of
Property Owner Property
New L A Associates LLC $ 35,806,655
Security Capital Pacific Trust 30,441,446
Fred Kavli 23,092,786
American Stores 20,252,700
Western Pacific Housing 17,717,000
G-S Partnership 17,561,058
Kavilco Corporation _ 17,496,100
Lennar Moorpark LLC 16,649,163
Teledyne Industries 15,910,000
Mission Bell Plaza Phase 1 14,520,212
Pac-Fab Inc. 14,334,800
Litton Industries 12,434,800
James Birkenshaw, Lessor, Et. Al. 12,041,010
Bundy-Olympic Development 11,331,096
Mail Marketing Corporation 10,318,700
Source: Hdl Coren&Cone and Ventura County Assessor
61
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: 29,727 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
62