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CITY OF MOORPARK
MOORPARK, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the fiscal year
July 1, 1998 through June 30, 1999
Prepared by: The Finance and Administrative Services Department
Vavrinek, Trine, Day & Co., LLP
Certified Public Accountants
T
CITY OF MOORPARK
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
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 4
General, Special Revenue,and Certain Capital Projects Funds
Combined Statement of Revenues, Expenditures and Changes In Fund Balances—
Budget and Actual 5
Notes to General-Purpose Financial Statements 6
SUPPLEMENTARY SCHEDULES
All Special Revenue Funds
Combining Balance Sheet 26
Combining Statement of Revenues, Expenditures and Changes In Fund Balances 28
Combining Statement of Revenues, Expenditures and Changes In Fund Balances
(Deficits)—Budget and Actual 30
All Capital Projects Funds
Combining Balance Sheet 35
Combining Statement of Revenues, Expenses and Changes In Fund Balances 36
Redevelopment Agency Capital Projects Fund
Statement of Revenues, Expenditures and Changes In Fund Balance—
Budget and Actual 37
Agency Fund—Developer Deposit Fund
Statement of Changes in Assets and Liabilities 38
REQUIRED SUPPLEMENTARY INFORMATION
Year 2000 Disclosures (Unaudited) 39
CITY OF MOORPARK
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
CONTENTS (Continued)
PAGE
STATISTICAL SECTION
Revenues by Source—All Governmental Fund Types—Last Ten Fiscal Years 40
Expenditures by Function—All Governmental Fund Types—Last Ten Fiscal Years 41
Assessed Value of Taxable Property—Last Ten Fiscal Years 42
Secured Tax Charge and Delinquencies—Last Six Fiscal Years 43
Direct and Overlapping Bonded Debt as of Fiscal Year 1998-99 44
Computation of Legal Debt Margin and Breakdown of General Property Tax Levy 45
City Population—Last Ten Years 46
Building Permit Valuation—Last Ten Fiscal Years 47
Largest Property Owners—Per Assessed Valuation 1998 48
Miscellaneous Statistics 49
Gary T.CiChella.C.P.A. Vavrinek, Trine Day & Co. LLP Matthew S.Miller,C.P.A.
Donald A. Driftmier,C.P.A. > Rai C.Cowles.C.P.A.
Gregory P.Cook,C.P.A. Certified Public Accountants David L.Dayton.C.P.A.
Dennis A.Pringle,C.P.A. Ken E.Johnson,C.P.A.
Ron S.White,C.P.A. Members: A.J.Major.C.P.A.
Jeffrey A.Caner,C.P.A. •American Institute of Certified Public Accountants Terri A.Montgomery.C.P.A.
Karen Corner,C.P.A. •SEC Practice Section Leonard P. Danna,C.P.A.
•California Society of Certified Public.AccOuntants
Linda S.Todd,C.P.A. James Balsam). Principal
•western Association of Accounting.Firms
Kevin T. Pulliam.C.P.A. Joseph M.Aguilar.Principal
Heidi E. Ross,C.P.A. Bonnita L. Ruesch,Principal
Thomas A.Brewer,C.P.A. Caroline A. Larson,.Principal
Charles H.Gielow,Jr.,Consultant
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, 1999 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. Other auditor's audited the general-purpose financial
statement of the City of Moorpark, California as of June 30, 1998, whose report dated October 23, 1998
expressed an unqualified opinion on those statements.
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.
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 $21,147,224.
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, 1999, and the results of its operations for the year then ended in
conformity with generally accepted accounting principles.
In accordance with Government Auditing Standards, we have also issued a report dated October 19, 1999 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.
With Offices Located: Fresno
8270 Aspen Street •Rancho Cucamonga,CA 91 730 Pleasanton
P.O: Box 4407• Rancho Cucamonga, CA 91729-4407 Laguna Hills
(909)466-4410• FAX(909)466-4431 San Jose
www.Rancholnfo@vtdcpa.corn Carmichael
1
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.
The year 2000 supplementary information as included within the report, is not a required part of the basic
financial statements but is supplementary information required by the Governmental Accounting Standards
Board. We have applied certain limited procedures, which consisted principally of inquiries of management
regarding the methods of measurement and presentation of the supplementary information. However, we did
not audit the information and do not express an opinion on it. In addition, we do not provide assurance the City
of Moorpark is or will become year 2000 compliant, that the City of Moorpark's year 2000 remediation efforts
will be successful in whole or in part, or that parties with which the City of Moorpark does business are or will
become year 2000 compliant.
bei tt,
Rancho Cucamonga, California
October 19, 1999
2
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CITY OF MOORPARK
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 1999
(with comparative total figures at June 30, 1998)
GOVERNMENTAL FUND TYPES
Special Capital Debt
General Revenue Projects Service
ASSETS AND OTHER DEBITS
Cash and Investments $ 3,299,093 $ 22,766,694 $ 7,938,892
Restricted cash and investments $ 803,234
Accounts and interest receivable,net 490,156 1,530,372 477,690 3,611
Taxes receivable 33,711
Notes receivable 119,868 3,687,414
Due from other funds 187,913 1,364,703
Long-term advance in Redevelopment Agency 4,365,369
Other assets 4,000
Land held for resale 1,500,000
Property and equipment
Amount available for debt service
of general long-term debt
Total Assets $ 8,380,242 $ 27,281,637 $ 12,103,996 $ 806,845
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 818,687 409,899 729,600
Employees compensated absences payable
Deposits,principally from developers 25,000 2,370
Due to other funds 1,552,616
Deferred revenue 62,826 452,768
Long-term advance from City General Fund
Tax allocation bonds payable
Total Liabilities 881,513 2,440,283 731,970
FUND EQUITY AND OTHER CREDITS
Fund balances and other credits:
Investment in general fixed assets
Fund balances:
Reserved for AB939 501,466
Reserved for unpaid grants 5,900
Reserved for encumbrances 101,704 7,321,576 136,359
Reserved for receivables due after one year,net 116,870 1,236,204 3,775,1 12
Reserved for land held for resale \ 1,500,000
Reserved for prepaid expenditures
Reserved for debt services 803,234
Reserved for low/moderate income housing 1,273,206
Reserved for advances in Redevelopment Agency 4,365,369
Reserved for park maintenance
Unreserved:
Designated 109,002 6,789,632
Undesignated 2,407,420 13,401,366 670,923 3,611
Total Fund Equity and Other Credits 7,498,729 24,841,354 11,372,026 806,845
Total Liabilities and Fund Equity $ 8,380,242 $ 27,281,637 $ 12,103,996 $ 806,845
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 1999 1998
$ 1,167,092 $ 35,171,771 $ 27,739,983
803,234 834,293
725 2,502,554 2,326,527
33,711 62,607
3,807,282 3,953,332
1,552,616 383,755
4,365,369 7,028,571
4,000 160,935
1,500,000 1,500,000
$ 21,147,224 21,147,224 20,776,070
806,845 806,845 845,722
13,598,555 13,598,555 15,511,620
$ 1,167,817 $ 21,147,224 $ 14,405,400 $ 85,293,161 $ 81,123,415
240,848 2,199,034 1,165,355
180,031 180,031 178,771
926,969 954,339 1,009,355
1,552,616 383,755
515,594 516,730
4,365,369 4,365,369 7,028,571
9,860,000 9,860,000 9,150,000
1,167,817 14,405,400 19,626,983 19,432,537
21,147,224 21,147,224 20,776,070
501,466 421,126
5,900 23,672
7,559,639 1,047,170
5,123,136 5,270,849
1,500,000 1,500,000
160,935
803,234 845,722
1,273,206 1,045,437
4,365,369 7,028,571
169,000
6,898,634 8,606,028
16,483,320 14,796,298
21,147,224 65,666,178 61,690,878
$ 1,167,817 $ 21,147,224 $ 14,405,400 $ 85,293,161 $ 81,123,415
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CITY OF MOORPARK
COMBINED STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
FOR THE YEAR ENDED JUNE 30, 1999
(with comparative total figures for the year ended June 30, 1998)
TOTALS
GOVERNMENTAL FUND TYPES (Memorandum Only)
General Special Capital Debt
Fund Revenue Projects Service 1999 1998
REVENUES
Property taxes $ 1,618,277' $ 1,785,733 $ 3,404,010 $ 2,940,777
Sales taxes 1,486,749' 1,486,749 1,363,626
Other taxes 35,332 $ 560,353 595,685 574,919
Motor vehicle license fees 1,343,188 / 1,343,188 1,219,914
Utility franchise fees 859,302' 859,302 762,076
Building and safety fees 290,234 290,234 324,749
Maintenance assessments 3,859,161 (2,250) 3,856,911 1,630,996
Subventions and grants 104,8041 744,285 849,089 1,170,287
Planning and public works fees 760,772 760,772 1,353,677
Park development fees 136,805 136,805 320,334
Charges for current services 332,173 198,950 112,299 643,422 606,388
Fines and forfeitures 89,949 s/ 135,245 225,194 108,262
Interest 680,731 909,641 1,089,363 $ 23,080 2,702,815 1,988,731
Other 361,440 80,965 22,495 464,900 515,100
Total Revenues 6,911,945 7,676,411 3,007,640 23,080 17,619,076 14,879,836
EXPENDITURES
Current:
General government 1,255,334 47,172 691,096 276 1,993,878 1,631,787
Public safety 3,102,834 3,102,834 3,026,724
Public services 190,920 2,667,025 290,319 3,148,264 3,599,360
Parks and recreation 1,339,118 7,600 38,658 1,385,376 1,381,058
Capital outlay 45,313 237,689 1,682,472 1,965,474 1,081,814
Debt service
Principal 163,202 2,500,000 240,000 2,903,202 225,000
Interest and fiscal 7,800 475,000 539,239 1,022,039 1,043,704
Cost of issuance 231,113 231,113
Total Expenditures 5,933,519 3,130,488 5,677,545 1,010,628 15,752,180 11,989,447
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 978,426 4,545,923 (2,669,905) (987,548) 1,866,896 2,890,389
OTHER FINANCING SOURCES(USES)
Operating transfers in 192,437 825,074 1,919,516 709,266 3,646,293 2,090,335
Proceeds from bond issuance 9,737,134 9,737,134
Proceeds from special district dissolution 1,452,845 1,452,845
Proceeds from sale of city property 45,000 45,000
Operating transfers out (296,649) (2,324,569) (1,025,075) (3,646,293) (2,090,335)
Payment to refunded bond escrow agent (9,497,729) (9,497,729)
Proceeds from long term advance general fund 725,369
Total Other Financing Sources(Uses) (59,212) (46,650) 894,441 948,671 1,737,250 725,369
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 919,214 4,499,273 (1,775,464) (38,877) 3,604,146 3,615,758
Fund Balances,Beginning of Year 6,579,515 20,342,081 13,147,490 845,722 40,914,808 37,299,050
Fund Balances,End of Year $ 7,498,729 $ 24,841,354 $ 11,372,026 $ 806,845 $ 44,518,954 $ 40,914,808
The accompanying notes are an integral part of these financial statements.
4
CITY OF MOORPARK
COMBINED STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES-BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE,AND CERTAIN CAPITAL PROJECTS FUNDS
FOR THE YEAR ENDED JUNE 30, 1999
GENERAL FUND SPECIAL REVENUE FUNDS
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Property taxes $ 1,485,200 $ 1,618,277 $ 133,077
Sales taxes 1,400,000 1,486,749 86,749
Other taxes 32,500 35,332 2,832 $ 520,600 $ 560,353 $ 39,753
Motor vehicle license fees 1,160,000 1,343,188 183,188
Utility franchise fees 770,931 859,302 88,371
Building and safety fees 396,143 290,234 (105,909)
Maintenance assessments 3,679,640 3,859,161 179,521
Subventions and grants 209,820 104,804 (105,016) 1,971,147 744,285 (1,226,862)
Planning and public works fees 1,233,454 760,772 (472,682)
Park development fees 136,805 136,805
Charges for current services 296,000 332,173 36,173 349,500 198,950 (150,550)
Fines and forfeitures 90,000 89,949 (51) 40,000 135,245 95,245
Interest. 565,800 680,731 114,931 742,900 909,641 166,741
Other 243,200 361,440 118,240 3,300 80,965 77,665
Total Revenues 6,253,451 6,911,945 658,494 8,936,684 7,676,411 (1,260,273)
EXPENDITURES
Current:
General government 1,228,411 1,255,334 (26,923) 62,019 47,172 14,847
Public safety 3,254,278 3,102,834 151,444
Public services 264,661 190,920 73,741 4,128,257 2,667,025 1,461,232
Parks and recreation 1,569,045 1,339,118 229,927 7,600 (7,600)
Capital outlay 41,288 45,313 (4,025) 248,058 237,689 10,369
Debt service
Principal 163,202 163,202
Interest and fiscal 7,800 7,800
Cost of issuance
Total Expenditures 6,357,683 5,933,519 424,164 4,609,336 3,130,488 1,478,848
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (104,232) 978,426 1,082,658 4,327,348 4,545,923 218,575
OTHER FINANCING SOURCES(USES)
Operating transfers in 182,175 192,437 10,262 518,031 825,074 307,043
Proceeds from bond issuance
Proceeds from special district dissolution 1,464,000 1,452,845 (11,155)
Proceeds from sale of city property 45,000 45,000
Advances from City 87,378 (87,378)
Operating transfers out (382,096) (296,649) 85,447 (2,324,569) (2,324,569)
Payment to refunded bond escrow agent
Total Other Financing Sources(Uses) (154,921) (59,212) 95,709 2,069,409 (46,650) (2,116,059)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ (259,153) 919,214 $ 1,178,367 $ 6,396,757 4,499,273 $ (1,897,484)
Fund Balances,Beginning of Year 6,579,515 20,342,081
Fund Balances,End of Year $ 7,498,729 $ 24,841,354
The accompanying notes are an integral part of these financial statements.
5
TOTAL
CAPITAL PROJECTS FUNDS DEBT SERVICE (Memorandum Only)
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 1,350,000 $ 1,785,733 $ 435,733 $ 2,835,200 $ 3,404,010 $ 568,810
1,400,000 1,486,749 86,749
553,100 595,685 42,585
1,160,000 1,343,188 183,188
770,931 859,302 88,371
396,143 290,234 (105,909)
(2,250) (2,250) 3,679,640 3,856,911 177,271
2,180,967 849,089 (1,331,878)
1,233,454 760,772 (472,682)
136,805 136,805
106,929 112,299 5,370 752,429 643,422 (109,007)
130,000 225,194 95,194
466,500 1,089,363 622,863 $ 23,500 $ 23,080 $ (420) 1,798,700 2,702,815 904,115
22,495 22,495 246,500 464,900 218,400
1,923,429 3,007,640 1,084,211 23,500 23,080 (420) 17,137,064 17,619,076 482,012
770,802 691,096 79,706 276 (276) 2,061,232 1,993,878 67,354
3,254,278 3,102,834 151,444
786,110 290,319 495,791 5,179,028 3,148,264 2,030,764
31,999 38,658 (6,659) 1,601,044 1,385,376 215,668
9,581,830 1,682,472 7,899,358 9,871,176 1,965,474 7,905,702
2,500,000 2,500,000 240,000 240,000 2,903,202 2,903,202
475,000 475,000 560,199 539,239 20,960 1,042,999 1,022,039 20,960
380,000 231,113 148,887 380,000 231,113 148,887
14,145,741 5,677,545 8,468,196 1,180,199 1,010,628 169,571 26,292,959 15,752,180 10,540,779
(12,222,312) (2,669,905) 9,552,407 (1,156,699) (987,548) 169,151 (9,155,895) 1,866,896 11,022,791
10,048,321 1,919,516 (8,128,805) 776,700 709,266 (67,434) 11,525,227 3,646,293 (7,878,934)
9,860,000 9,737,134 (122,866) 9,860,000 9,737,134 (122,866)
1,464,000 1,452,845 (11,155)
45,000 45,000
665,000 (665,000) 752,378 (752,378)
(1,046,781) (1,025,075) 21,706 (1,428,877) (3,646,293) (2,217,416)
(9,497,729) (9,497,729) (9,497,729) (9,497,729)
9,666,540 894,441 (8,772,099) 10,636,700 948,671 (9,688,029) 22,217,728 1,737,250 (20,480,478)
$ (2,555,772) (1,775,464) $ 780,308 $ 9,480,001 (38,877) $ (9,518,878) $ 3,581,832 3,604,146 $ 22,314
13,147,490 845,722 40,914,808
$ 11,372,026 $ 806,845 $ 44,518,954
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CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
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.
6
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
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 and for which the City
Council is financially accountable. 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$4,365,369 at June 30,
1999, are to be repaid over a determinate period of time, and bear simple interest at a rate of 10% annually.
These long-term advances are fully reserved in the General Fund as the Agency is not able to finance
current operations. In July 1999, the City Council reduced the simple interest rate to 8 % annually
7
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
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 7.8 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 attach 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.
The City records property tax revenues in the fiscal year to which they are due rather than at the related lien
date. Delinquent property taxes at year-end (June 30), if any, are reserved to the extent they are deemed to
be uncollectible within 60 days thereafter.
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, 1999. 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) normally 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.
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.
8
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE#1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(Continued)
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
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. This Statement is effective for financial statements for periods beginning after
December 31, 1998, unless an entity complies with the requirements of subsection (g) of the Internal
Revenue Code 457 in an earlier period in which case application of this Statement is required for the
financial reporting period in which compliance occurs. 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 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, and accordingly has adopted this Statement for the 1999 fiscal year. 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, 1999, were $702,092.
Finally, during 1999, GASB issued Technical Bulletin 99-1, "Disclosure about Year 2000 Issue." This
bulletin requires disclosure of the stages of work in process and/or completed as of the end of the City's
reporting period to make computer systems and other electronic equipment critical to conducting operations
Year 2000 compliant. The City has elected to make these disclosures for the year ended June 30, 1999.
L. 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.
M. 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.
9
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
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 and the Capital Projects 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.
10
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
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, 1999 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, 1999 are as follows:
Unrestricted cash and investments 35,171,771
Restricted cash and investments 803,234
Total Cash and Investments $35,975,005
The cash and investments are aggregated as follows:
Deposits 826,312
Petty Cash 660
Investments 35,148,033
Total $35,975,005
11
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE#3—CASH AND INVESTMENTS(Continued)
The City's deposits at June 30, 1999 are categorized in the following table:
BANK BALANCE-
CATEGORY BANK CARRYING
1 2 3 BALANCES AMOUNTS
Categorized
Deposits held with banks $ 151,350 $ 589,956 $ 741,306 $ 826,312
Total $ 151,350 $ 589,956 $ 741,306 $ 826,312
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, 1999 are categorized in the following table:
Not Carrying
Required Amount
CATEGORY to be at Fair
(1) (2) (3) Categorized 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 8,692,655 8,692,655
State Treasurer's Local Agency
Investment Fund(1) 25,684,278 25,684,278
Total $ - $ - $ - $35,148,033 $ 35,148,033
12
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
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.
At June 30, 1999, the cost of the City's investment portfolio approximated fair value. There were no net
realized gains or losses on investments sold or matured during the year. The calculation of realized gains
and losses is independent of a calculation of the net change in the fair value of investments. Realized gains
and losses on investments that had been held in more than one fiscal year and sold in the current year were
included as a change in the fair value of investments reported in the prior year(s) and the current year.
(1) The management of the State of California Pooled Money Investment Account (generally referred to as
LAW) has indicated to the City that as of June 30, 1999, the carrying amount of the pool was
$36,849,505,673 and the estimated market value for the pool (including accrued interest) was
$37,020,937,097. The City's proportionate share of that value is $25,684,278. Included in LAIF's
investment portfolio are certain derivative securities or similar products in the form of structured notes
totaling $1,524,350,000, and asset-backed securities totaling $351,942,000. 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 31 generally applies to investments in external investment
pools (State of California LAW & 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 LAW 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 LAW. The City relied upon information
provided by the State Treasurer in estimating the City's fair value position of its holding in LAE. The City
had a contractual withdrawal value of$25,684,278 whose pro-rata share of fair value was estimated by the
state Treasurer to be $25,684,278. 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 LAW fall
under the auspices of the State Treasurer's office. The City is a voluntary participant in the investment pool.
13
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE#4—LONG-TERM DEBT
The following is a schedule of changes in long-term debt for the fiscal year ended June 30, 1999:
Balance Balance
Beginning of End of
Year Additions Deletions Year
Employee compensated absences payable $ 178,771 $ 6,090 $ 4,830 $ 180,031
1993 Tax Allocation Bonds 9,150,000 9,150,000
Long-term advances from the General Fund 7,028,571 2,663,202 4,365,369
1999 Tax Allocation Bonds 9,860,000 9,860,000
Totals $16,357,342 $9,866,090 $11,818,032 $14,405,400
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. Defeased Debt
On May 6, 1999 the Redevelopment Agency of the City of Moorpark (the Agency) issued the 1999 Tax
Allocation Refunding Bonds of $9,860,000 with interest rates ranging from 3.05% to 4.85% to advance
refund the 1993 Tax Allocation Bonds with interest rates ranging from 3.30% to 6.0%. The Agency issued
the 1999 refunding bonds to provide resources to purchase U.S. government securities that were deposited
in an irrevocable trust with an escrow agent for the purpose of generating resources for all future debt
service payments of the refunded debt. The advance refunding met the requirements of an in-substance
defeasance and as a result, the refunded bonds are considered defeased and the liability has been removed
from the general long-term debt account group. This advance refunding was undertaken to reduce total debt
service payments over the next 20 years by $230,836 and to obtain an economic gain (the difference
between the present value of the debt service payments of the refunded and refunding bonds)of$181,304.
14
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE#4—LONG-TERM DEBT(Continued)
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.
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
2000 $ 320,000 $ 394,303 $ 714,303
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
Thereafter 8,095,000 3,248,068 11,343,068
Total $ 9,860,000 $5,250,036 $ 15,110,036
15
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE#4—LONG-TERM DEBT(Continued)
D. Advances from the General Fund
The City's General Fund has paid for services and start-up expenditures incurred by the Redevelopment
Agency. These advances accrue interest at 10 percent and are to be repaid over and indeterminate period.
During the 1998-99 fiscal year, the Agency paid down the advances due to the General Fund. The Low and
Moderate Housing fund paid off the short-term advance of$163,202, and the Agency Capital Projects fund
paid down $2,500,000 of its advance leaving a balance of$865,369. The total advances outstanding at June
30, 1999 include the remaining Capital Projects advance of$865,369, plus the long-term portion discussed
above of$3,500,000. The balance of advances from the General fund totaled$4,365,369 at June 30, 1999.
NOTE#S—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.
16
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE#6—AGREEMENTS WITH VARIOUS TAXING AGENCIES(Continued)
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.
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 (Ca1PERS), and agent-
multiple-employer plan administered by Ca1PERS, which acts as a common investment and administrative
agent for participating public employers within the State of California. A menu of benefit provisions as well
as other requirements are established by State statutes within the Public Employees' Retirement Law. The
City of Moorpark selects optional benefits through local ordinance. CaIPERS issues a separate
comprehensive annual financial report. Copies of the Ca1PERS' annual financial report may be obtained
from the CaIPERS Executive Office—400 P. Street, Sacramento, CA 95814.
17
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE#7-RETIREMENT PLANS(Continued)
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.
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 CaIPERS
Board of Administration. The required employer contribution rate for the fiscal year ended June 30, 1999
was 4.311 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 CaIPERS.
C. Annual Pension Cost
For the year ended June 30, 1999, the City of Moorpark's annual pension cost and its actual contributions
were $91,092. The City also contributed $145,664 on behalf of employees. Employees directly contributed
$0. Total contributions were $236,756. The required contribution for the year ended June 30, 1999 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.
18
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE#7-RETIREMENT PLANS(Continued)
Three Year Trend Information
Annual Pension Cost Percentage of APC Net Pension
Fiscal Year Ending (APC) Contributed Obligation
6/30/96 $82,374 100% $0
6/30/97 $16,111 100% $0
6/30/98 $0 100% $0
Funded Status of the Plan
Entry Age Unfunded
Normal Actuarial (Overfunded) Annual UAAL As a
Accrued Value of Liability Funded Covered % of
Valuation Date Liability Assets (UAAL) Ratio Payroll Payroll
6/30/96 $1,787,608 $2,028,298 ($240,690) 113.5% $1,674,361 (14.38)%
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)%
NOTE#8—PROPERTY AND EQUIPMENT
A summary of changes in general fixed assets for the year ended June 30, 1999 follows:
Balance Balance
Beginning of End of
Year Additions Deletions Year
Land $ 9,829,913 $ 156,126 $45,000 $ 9,941,039
Buildings and structures 3,707,768 5,007 3,712,775
Improvements other than buidlings 5,395,709 5,395,709
Office furniture and equipment 971,568 96,649 1,068,217
Other equipment 871,112 158,372 1,029,484
Totals $20,776,070 $ 416,154 $ 45,000 $21,147,224
19
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE#9—INTERFUND TRANSACTIONS
A summary of operating transfers and interfund receivables/payables as of and for the year ended June 30, 1999
is included in the following table:
Operating Operating Due From Due To
Transfers In Transfers Out Other Funds Other Funds
General Fund $ 192,437 $ 296,649 $ 187,913
Special Revenue Funds
Traffic System Management Fund 35,529
Citywide Traffic Assistance 7,554
Local Transportation Streets Fund 427,119
Local Transportation Transit Fund 602 6,922 $ 11,913
Assessment District Fund 13,320 42,461
Park Development 235,713 743,324 176,000
Areas of Contribution Fund 1,036,616 1,364,703 1,322,242
Low-and Moderate-Income Housing Fund 295,728
State Gas Tax Fund 293,031 12,570
State Transit Assistance 1,843
CDBG Entitlement Fund 39,772
Total Special Revenue Funds 825,074 2,324,569 1,364,703 1,552,616
Capital Projects Funds
Capital Projects Funds 1,919,516
Equipment Replacement Fund 20,081
Redevelopment Agency Fund 1,004,994
Total Capital Projects Funds 1,919,516 1,025,075
Debt Service Fund 709,266
Total $ 3,646,293 $ 3,646,293 $ 1,552,616 $ 1,552,616
20
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
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$3,107,000 for the year ended June 30, 1999.
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—RESIDENTIAL MORTGAGE AND INDUSTRIAL 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, 1999.
21
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE #11 —RESIDENTIAL MORTGAGE AND INDUSTRIAL 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, 1999.
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 $2,080,000 at June 30, 1999.
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$7,630,000 at June 30, 1999.
22
•
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE#12—SPECIAL ASSESSMENT BONDS(Continued)
• 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.
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.
23
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
NOTE#13—RISK MANAGEMENT
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.
NOTE#14—FUND BALANCES
The State Gas Tax Special Revenue Fund has designated $109,002 for replacement of equipment. The
Redevelopment Agency has designated $6,789,632 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.
24
CITY OF MOORPARK
NOTES TO FINANCIAL STATEMENTS
NNE 30, 1999
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—EXCESS OF EXPENDITURES OVER APPROPRIATIONS
The following funds had an excess of expenditures over appropriations at June 30, 1999.
Appropriation Expenditure Difference
Special Revenue Funds:
Traffic System Management $ - $ 603 $ 603
Citywide Traffic Mitigation $ - $ 10,068 $ 10,068
Crossing Guard $ 9,426 $ 10,820 $ 1,394
Park Development $ - $ 7,600 $ 7,600
CDBG Entitlement $ 3,000 $ 44,490 $ 41,490
Other Grants $ 13,601 $ 13,950 $ 349
25
CITY OF MOORPARK
COMBINING BALANCE SHEET
ALL SPECIAL REVENUE FUNDS
JUNE 30, 1999
(with comparative total figures at June 30, 1998)
Traffic Citywide Local
Traffic System Traffic Transportation
Safety Management Mitigation Streets
ASSETS
Cash and Investments $ 101,556 $ 1,086,631 $ 1,210,496 $ 2,243,558
Accounts and interest receivable,net 20,740 8.558 9,530 17,153
Notes receivable 119,868
Due from other funds
Land held for resale
Total Assets $ 122,296 $ 1,215,057 $ 1,220,026 $ 2,260,711
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 1,798
Deposits,principally from developers
Due to other funds
Deferred revenue 119,868 97,500
Total Liabilities 1,798 119,868 97,500
FUND BALANCES
Fund balances:
Reserved for encumbrances 1,797,139
Reserved for receivables due after one year,net
Reserved for land held for resale
Reserved for low/moderate income housing
Unreserved:
Designated
Undesignated 120,498 1,095,189 1,220,026 366,072
Total Fund Balances 120,498 1,095,189 1,220,026 2,163,211
Total Liabilities and Fund Balances $ 122,296 $ 1,215,057 $ 1,220,026 $ 2,260,711
26
Local Low and
Transportation Crossing Assessment Areas of Park Community Affordable Moderate
Transit Guard District Contributions Development Development Housing Income Housing
$ 108,176 $ 372,618 $ 7,528,589 $ 797,833 $ 360,384 $ 559,402 $ 1,290,861
$ 75,953 872 25,356 1,025,761 10,954 18,423 66,733 155,821
1,364,703
1,500,000
$ 75,953 $ 109,048 $ 397,974 $ 9,919,053 $ 808,787 $ 378,807 $ 626,135 $ 2,946,682
19,792 97,452 1,392 180,775 547 8,192
25,000
11,913 42,461 1,322,242 176,000
44,248 188,351 2,801
75,953 139,913 1,511,985 178,801 180,775 547 33,192
5,000 5,097,342 247,530 77,183
786,160 234,619 75,141 140,284
1,500,000
1,273,206
109,048 253,061 2,523,566 147,837 120,849 550,447
109,048 258,061 8,407,068 629,986 198,032 625,588 2,913,490
$ 75,953 $ 109,048 $ 397,974 $ 9,919,053 $ 808,787 $ 378,807 $ 626,135 $ 2,946,682
26
CITY OF MOORPARK
COMBINING BALANCE SHEET(Continued)
ALL SPECIAL REVENUE FUNDS
JUNE 30, 1999
(with comparative total figures at June 30, 1998)
State State Transportation
Gas Transit Development CDBG
Tax Assistance Act(Article 3) Entitlement
ASSETS
Cash and Investments $ 1,859,637 $ 63,435 $ 97,047 $ 17,108
Accounts and interest receivable,net 20,605 512 768 15,179
Notes receivable
Due from other funds
Land held for resale
Total Assets $ 1,880,242 $ 63,947 $ 97,815 $ 32,287
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 48,961 32,287
Deposits,principally from developers
Due to other funds
Deferred revenue
Total Liabilities 48,961 32,287
FUND BALANCES
Fund balances:
Reserved for encumbrances 97,382
Reserved for receivables due after one year,net
Reserved for land held for resale
Reserved for low/moderate income housing
Unreserved:
Designated 109,002
Undesignated 1,624,897 63,947 97,815
Total Fund Balances 1,831,281 63,947 97,815
Total Liabilities and Fund Balances $ 1,880,242 $ 63,947 $ 97,815 $ 32,287
27
Police TOTALS
Other Facilities Fee
Grants Endowment Fund 1999 1998
$ 20,994 4,367,566 $ 680,803 $ 22,766,694 $ 18,251,662
24,586 27,485 5,383 1,530,372 1,703,790
119,868 119,868
1,364,703 42,461
1,500,000 1,500,000
$ 45,580 $ 4,395,051 $ 686,186 $ 27,281,637 $ 21,617,781
4,542 14,161 409,899 408,059
25,000 25,000
1,552,616 383,755
452,768 458,886
4,542 14,161 2,440,283 1,275,700
7,321,576 979,434
1,236,204 1,232,897
1,500,000 1,500,000
1,273,206 1,045,437
109,002 109,002
45,580 4,390,509 672,025 13,401,366 15,475,311
45,580 4,390,509 672,025 24,841,354 20,342,081
$ 45,580 $ 4,395,051 $ 686,186 $ 27,281,637 $ 21,617,781
27
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL SPECIAL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
(with comparative total figures for the year ended June 30, 1998)
Traffic Citywide Local
Traffic System Traffic Transportation
Safety Management Mitigation Streets
REVENUES
Other taxes
Building and safety fees
Maintenance assessments $ 24,916 $ 107,839
Subventions and grants $ 504,479
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures $ 134,245
Interest 3,171 48,095 52,058 94,647
Other 2,472 320
139,888 73,011 159,897 599,446
Total Revenues
EXPENDITURES
Current:
General govemment 40,095
Public services 31,568 603 10,068
Parks and recreation
Capital outlay 1,037
Debt service
Principal
Interest and fiscal
Total Expenditures 72,700 603 10,068
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 67,188 72,408 149,829 599,446
OTHER FINANCING SOURCES(USES)
Operating transfers in
Proceeds from special district dissolution
Operating transfers out (35.529) (7,554) (427,1 19)
Total Other Financing Sources(Uses) (35,529) (7,554) - (427,119)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 67,188 36,879 142,275 172,327
Fund Balances,Beginning of Year 53,310 1,058,310 1,077,751 1,990,884
Fund Balances,End of Year $ 120,498 $ 1,095,189 $ 1,220,026 $ 2,163,211
28
Local Low and
Transportation Crossing Assessment Areas of Park Community Affordable Moderate
Transit Guard District Contributions Development Development Housing Income Housing
$ 7,613
212,886
$ 688,829 $ 21,797 $ 15,780
$ 155,544
760,772
136,805
16,940 134,114 47,691
1,000
28 $ 5,036 13,486 378,202 40,161 $ 37,042 . $ 66,971
65 446 6,637 12,895 10,586 20,181 2,566 226
172,577 5,482 708,952 547,008 251,023 1,002,452 39,608 67,197
167,520 10,508 589,200 15,894 1,057,209 11,103 50,377
7,600
96,210 312 2,000 12,808 45,662
163,202
7,800
263,730 10,820 589,200 17,894 7,600 1,070,017 11,103 267,041
(91,153) (5,338) 119,752 529,114 243,423 (67,565) 28,505 (199,844)
602 ' 235,713 295,728
(6,922) (13,320) (1,036,616) (743,324)
(6,320) (13,320) (1,036,616) (507,611) 295,728
(97,473) (5,338) 106,432 (507,502) (264,188) (67,565) 28,505 95,884
97,473 114,386 151,629 8,914,570 894,174 265,597 597,083 2,817,606
$ - $ 109,048 $ 258,061 $ 8,407,068 $ 629,986 $ 198,032 $ 625,588 $ 2,913,490
28
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, 1999
(with comparative total figures for the year ended June 30, 1998)
State State Transportation
Gas Transit Development CDBG
Tax Assistance Act(Article 3) Entitlement
REVENUES
Other taxes $ 552,740
Building and safety fees
Maintenance assessments
Subventions and grants $ 84,262
Planning and public works fees
Park development fees
Charges for current services 205
Fines and forfeitures
Interest 77,097 $ 2,884 $ 4,304
Other 17,499
647,541 2,884 4,304 84,262
Total Revenues
EXPENDITURES
Current:
General government
Public services 582,263
Parks and recreation
Capital outlay 15,626 44,490
Debt service
Principal
Interest and fiscal
Total Expenditures 597,889 44,490
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 49,652 2,884 4,304 39,772
OTHER FINANCING SOURCES(USES)
Operating transfers in 293,031
Proceeds from special district dissolution
Operating transfers out (12,570) (1,843) (39,772)
Total Other Financing Sources(Uses) 280,461 (1,843) (39,772)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 330,113 1,041 4,304
Fund Balances,Beginning of Year 1,501,168 62,906 93,511
Fund Balances,End of Year $ 1,831,281 $ 63,947 $ 97,815 $
29
Police TOTALS
Other Facilities Fee
Grants Endowment Fund 1999 1998
$ 560,353 $ 541,420
$ 77,348 290,234 324,749
$ 3,000,000 3,859,161 1,560,965
744,285 1,069,026
760,772 1,353,677
136,805 320,334
198,950 31,039
135,245 41,375
57,354 29,105 909,641 935,977
7,072 80,965 16,907
3,064,426 106,453 7,676,411 6,195,469
•
7,077 47,172 37,313
$ 13,950 126,762 2,667,025 3,134,400
7,600 589,286
19,544 237,689 92,988
163,202
7,800
13,950 126,762 26,621 3,130,488 3,853,987
(13,950) 2,937,664 79,832 4,545,923 2,341,482
825,074 484,043
1,452,845 1,452,845 47,064
(2,324,569) (654,468)
1,452,845 (46,650) (123,361)
(13,950) 4,390,509 79,832 4,499,273 2,218,121
59,530 592,193 20,342,081 18,123,960
$ 45,580 $ 4,390,509 $ 672,025 $ 24,841,354 $ 20,342,081
29
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, 1999
Traffic
Traffic System
Safety Management
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Other taxes
Building and safety fees
Maintenance assessments $ 24,916 $ 24,916
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures $ 40,000 $ 134,245 $ 94,245
Interest 2,800 3,171 371 $ 54,000 48,095 (5,905)
Other 2,472 2,472
Total Revenues 42,800 139,888 97,088 54,000 73,011 19,011
EXPENDITURES
Current:
General government 47,019 40,095 6,924
Public services 40,634 31,568 9,066 603 (603)
Parks and recreation
Capital outlay 1,292 1,037 255
Debt service
Principal
Interest and fiscal
Total Expenditures 88,945 72,700 16,245 603 (603)
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (46,145) 67.188 113,333 54,000 72,408 18,408
OTHER FINANCING SOURCES(USES)
Operating transfers in
Proceeds from bond issuance
Proceeds from special district dissolution
Advances from City
Operating transfers out (35,529) (35,529)
Total Other Financing Sources(Uses) (35,529) (35,529)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ (46,145) 67,188 $ 113,333 $ 54,000 36,879 $ (17,121)
Fund Balances,Beginning of Year 53,310 1,058,310
Fund Balances,End of Year $ 120,498 $ 1,095,189
30
Citywide Local Local
Traffic Transportation Transportation
Mitigation Streets Transit
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 107,839 $ 107,839
$ 360,000 $ 504,479 $ 144,479 $ 201,629 $ 155,544 $ (46,085)
13,500 16,940 3,440
$ 52,000 52,058 58 75,000 94,647 19,647 1,400 28 (1,372)
320 320 65 65
52,000 159,897 107,897 435,000 599,446 164,446 216,529 172,577 (43,952)
10,068 (10,068) 210,529 167,520 43,009
103,472 96,210 7,262
10,068 (10,068) 314,001 263,730 50,271
52,000 149,829 97,829 435,000 599,446 164,446 (97,472) (91,153) 6,319
602 602
(7,554) (7,554) (427,119) (427,119) (6,922) (6,922)
(7,554) (7,554) (427,119) (427,119) (6,320) (6,320)
$ 52,000 142,275 $ 90,275 $ 435,000 172,327 $ (262,673) $ (97,472) (97,473) $ (1)
1,077,751 1,990,884 97,473
$ 1,220,026 $ 2,163,211 $ -
30
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, 1999
Crossing Assessment
Guard District
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Other taxes
Building and safety fees
Maintenance assessments $ 679,640 $ 688,829 $ 9,189
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services 25,000 (25,000)
Fines and forfeitures
Interest $ 6.400 $ 5,036 $ (1,364) 13,486 13,486
Other 446 446 6,637 6,637
Total Revenues 6,400 5,482 (918) 704,640 708,952 4,312
EXPENDITURES
Current:
General government
Public services 9,018 10,508 (1,490) 674,985 589,200 85,785
Parks and recreation
Capital outlay 408 312 96 2,240 2,240
Debt service
Principal
Interest and fiscal
Total Expenditures 9,426 10,820 (1,394) 677,225 589,200 88,025
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (3,026) (5,338) (2,312) 27,415 119,752 92,337
OTHER FINANCING SOURCES(USES)
Operating transfers in
Proceeds from bond issuance
Proceeds from special district dissolution
Advances from City
Operating transfers out (13.320) (13,320)
Total Other Financing Sources(Uses) (13,320) (13,320)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ (3,026) (5,338) $ (2,312) $ 27,415 106,432 $ 79,017
Fund Balances,Beginning of Year 114,386 151,629
Fund Balances,End of Year $ 109,048 $ 258,061
31
Areas of Park Community
Contributions Development Development
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual _ (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 8,600 $ 7,613 $ (987)
364,143 212,886 (151,257)
$ 21,797 $ 21,797 $ 15,780 $ 15,780
1,233,454 760,772 (472,682)
136,805 136,805
134,114 134,114 $ 311,000 47,691 (263,309)
1,000 1,000
$ 349,600 378,202 28,602 28,200 40,161 11,961
12,895 12,895 2,500 10,586 8,086 800 20,181 19,381
349,600 547,008 197,408 341,700 251,023 (90,677) 1,606,997 1,002,452 (604,545)
31,750 15,894 15,856 1,849,282 1,057,209 792,073
7,600 (7,600)
2,000 2,000 11,958 12,808 (850)
33,750 17,894 15,856 7,600 (7,600) 1,861,240 1,070,017 791,223
315,850 529,114 213,264 341,700 243.423 (98.277) (254,243) (67,565) 186,678
235,713 235,713
(1,036.616) (1,036.616) (743,324) (743,324)
(1,036,616) (1,036,616) (507,611) (507,611)
$ 315,850 (507,502) $ (823,352) $ 341,700 (264,188) $ (605,888) $ (254,243) (67,565) $ 186,678
8,914,570 894,174 265,597
$ 8,407,068 _$ 629,986 $ 198,032
31
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, 1999
Low and
Affordable Moderate
Housing Income Housing
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Other taxes
Building and safety fees
Maintenance assessments
Subventions and grants
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures
Interest $ 30,000 $ 37,042 $ 7,042 $ 41,000 $ 66,971 $ 25,971
Other 2,566 2,566 226 226
Total Revenues 30,000 39,608 9,608 41,000 67,197 26,197
EXPENDITURES
Current:
General government
Public services 88,269 11,103 77,166 370,458 50,377 320,081
Parks and recreation
Capital outlay 45,650 45,662 (12)
Debt service
Principal 163,202 163,202
Interest and fiscal 7,800 7,800
Total Expenditures 88,269 11,103 77,166 587,110 267,041 320,069
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (58,269) 28,505 86.774 (546,110) (199,844) 346,266
OTHER FINANCING SOURCES(USES)
Operating transfers in 225,000 295.728 70.728
Proceeds from bond issuance
Proceeds from special district dissolution
Advances from City 87,378 (87,378)
Operating transfers out
Total Other Financing Sources(Uses) 312,378 295,728 (16,650)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ (58,269) 28,505 $ 86,774 $ (233.732) 95,884 5 329,616
Fund Balances.Beginning of Year 597,083 2,817,606
Fund Balances,End of Year $ 625,588 $ 2,913,490
32
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)
$ 512,000 $ 552,740 $ 40,740
$ 35,534 $ (35,534)
205 205
65,000 77,097 12,097 $ 1,500 $ 2,884 $ 1,384 4,000 $ 4,304 304
17,49917,499
577,000 647,541 70,541 1,500 2,884 1,384 39,534 4,304 (35,230)
696,698 582,263 114,435
39,038 15,626 23,412
735,736 597,889 137,847
(158,7362 49,652 208,388 1.500 2,884 1,384 39,534 4,304 (35,230)
293,031 293,031
(12,570) (12,570) (1,843) _ (1,843)
293.031 280,461 (12,570) (1,843) (1,843)
$ 134,295 330,113 $ 195,818 $ 1,500 1,041 $ (459) $ 39,534 4,304 $ (35,230)
1,501,168 62,906 93,511
$ 1,831,281 $ 63,947 $ 97,815
•
32
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES (DEFICITS) - BUDGET AND ACTUAL (Continued)
ALL SPECIAL REVENUE FUNDS
FOR TILE FISCAL YEAR ENDED JUNE 30, 1999
CDBG
I.S.T.E.A. Entitlement
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Other taxes
Building and safety fees
Maintenance assessments
Subventions and grants $ 935,200 $ (935,200) $ 361,630 $ 84,262 $ (277,368)
Planning and public works fees
Park development fees
Charges for current services
Fines and forfeitures
Interest
Other
Total Revenues 935,200 (935,200) 361,630 84,262 (277,368)
EXPENDITURES
Current:
General government
Public services
Parks and recreation
Capital outlay 3,000 44,490 (41,490)
Debt service
Principal
Interest and fiscal
Total Expenditures 3,000 44,490 (41,490)
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 935,200 (935,200) 358.630 39,772 (318,858)
OTHER FINANCING SOURCES(USES)
Operating transfers in
Proceeds from bond issuance
Proceeds from special district dissolution
Advances from City
Operating transfers out (39,772) (39,772)
Total Other Financing Sources(Uses) (39.772) (39,772)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ 935,200 $ (935,200) $ 358.630 $ (358,630)
Fund Balances,Beginning of Year
Fund Balances,End of Year $ -
33
Police
Other Facilities Fee
Grants Endowment Fund
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 32,000 $ 77,348 $ 45,348
$ 3,000,000 $ 3,000,000
$ 77,154 $ (77,154)
57,354 $ 57,354 32,000 29,105 (2,895)
7,072 7,072
77,154 (77,154) 3,000.000 3,064,426 64,426 _ 64,000 106,453 42,453
15,000 7,077 7,923
13,601 $ 13,950 (349) 143,033 126,762 16,271
19,000 19,000 20,000 19,544 456
13,601 13,950 (349) 162,033 126,762 35,271 35,000 26,621 8,379
63.553 (13,950) (77.503) 2,837,967 2,937,664 99,697 29.000 79,832 50,832
1,464,000 1,452,845 (11,155)
1,464.000 1,452,845 (11,155)
$ 63.553 (13,950) $ (77,503) $ 4,301,967 4,390,509 $ 88,542 $ 29,000 79,832 $ 50,832
59.530 592,193
$ 45,580 $ 4,390,509 $ 672,025
33
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, 1999
Total
Variance
Favorable
Budget Actual (Unfavorable)
REVENUES
Other taxes $ 520,600 $ 560,353 5 39,753
Building and safety fees 396,143 290,234 (105,909)
Maintenance assessments 3,679,640 3,859,161 179,521
Subventions and grants 1,971,147 744,285 (1,226,862)
Planning and public works fees 1,233,454 760,772 (472,682)
Park development fees 136,805 136,805
Charges for current services 349.500 198,950 (150,550)
Fines and forfeitures 40,000 135,245 95,245
Interest 742,900 909,641 166,741
Other 3,300 80,965 77,665
Total Revenues 8.936,684 7,676,411 (1,260,273)
EXPENDITURES
Current:
General government 62,019 47,172 14,847
Public services 4,128,257 2,667,025 1,461,232
Parks and recreation 7,600 (7,600)
Capital outlay 248,058 237,689 10,369
Debt service
Principal 163,202 163,202
Interest and fiscal 7,800 7,800
Total Expenditures 4,609,336 3,130,488 1,478,848
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES 4,327,348 4,545,923 218,575
OTHER FINANCING SOURCES(USES)
Operating transfers in 518.031 825,074 307,043
Proceeds from bond issuance
Proceeds from special district dissolution 1,464,000 1,452,845 (11,155)
Advances from City 87,378 (87,378)
Operating transfers out (2,324,569) (2,324,569)
Total Other Financing Sources(Uses) 2,069,409 (46,650) (2,116,059)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ 6,396,757 4,499,273 $ (1,897,484)
Fund Balances,Beginning of Year 20,342,081
Fund Balances,End of Year $ 24,841,354
34
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CITY OF MOORPARK
COMBINING BALANCE SHEET
ALL CAPITAL PROJECTS FUNDS
JUNE 30, 1999
(with comparative total figures at June 30, 1998)
Capital City Hall Equipment Redevelopment
Project Building Replacement Agency
ASSETS
Cash and Investments $ 605,142 $ 433,557 $ 240,738 $ 6,659,455
Accounts and interest receivable,net 808 3,433 1,919 471,530
Taxes receivable
Notes receivable 3,687,414
Total Assets $ 605,950 $ 436,990 $ 242,657 $ 10,818,399
LIABILITIES
Liabilities:
Accounts payable and accrued liabilities 605,950 123,650
Deposits,principally from developers 2,370
Total Liabilities 605,950 126,020
FUND BALANCES
Fund balances:
Reserved for encumbrances 8,724 127,635
Reserved for receivables due after one year,net 3,775,112
Unreserved:
Designated for business incentives 233,678
Designated for capital projects 6,555,954
Undesignated 428,266 242,657
Total Fund Balances 436,990 242,657 10,692,379
Total Liabilities and Fund Balances $ 605,950 $ 436,990 $ 242,657 $ 10,818,399
35
TOTALS
1999 1998
$ 7,938,892 $ 9,113,572
477,690 300,924
8,182
3,687,414 3,833,464
$ 12,103,996 $ 13,256,142
729,600 108,652
2,370
731,970 108,652
136,359 36,585
3,775,112 3,921,286
233,678 233,678
6,555,954 8,263,348
670,923 692,593
11,372,026 13,147,490
$ 12,103,996 $ 13,256,142
35
CITY OF MOORPARK
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL CAPITAL PROJECTS FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
(with comparative total figures for the year ended June 30, 1998)
Capital City Hall Equipment Redevelopment
Project Building Replacement Agency
REVENUES
Property taxes $ 1,785,733
Building and safety fees
Maintenance assessments (2,250)
Charges for current services 112,299
Interest $ 19,347 $ 11,360 1,058,656
Other 22,495
Total Revenues 19,347 11,360 2,976,933
EXPENDITURES
Current:
General government 16,914 674,182
Public services $ 290,319
Parks and recreation 38,658
Capital outlay 1,590,539 25,701 66,232
Debt service
Principal 2,500,000
Interest and fiscal 475,000
Total Expenditures 1,919,516 16,914 25,701 3,715,414
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (1,919,516) 2,433 (14,341) (738,481)
OTHER FINANCING SOURCES(USES)
Operating transfers in 1,919,516
Proceeds from bond issuance
Proceeds from special district dissolution
Proceeds from long term advance general fund
Operating transfers out (20,081) (1,004,994)
Total Other Financing Sources(Uses) 1,919,516 (20,081) (1,004,994)
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES 2,433 (34,422) (1,743,475)
Fund Balances,Beginning of Year 434,557 277,079 12,435,854
Fund Balances,End of Year $ - $ 436,990 $ 242,657 $ 10,692,379
36
TOTALS
1999 I998
$ 1,785,733 $ 1,574,393
(2,250) 65,431
112,299 114,030
1,089,363 471,003
22,495 21
3,007,640 2,224,878
691,096 517,878
290,319 170,335
38,658
1,682,472 876,977
2,500,000
475,000 493,410
5,677,545 2,058,600
(2,669,905) 166,278
1,919,516 845,431
678,305
(1,025,075) (1,065,646)
894,441 458,090
(1,775,464) 624,368
13,147,490 12,523,122
$ 11,372,026 $ 13,147,490
36
CITY OF MOORPARK
STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCE-BUDGET AND ACTUAL
ALL CAPITAL PROJECTS FUND
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
Capital City Hall
Project Building
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Property taxes
Building and safety fees
Maintenance assessments
Charges for current services
Interest $ 10,500 $ 19,347 $ 8,847
Other
Total Revenues • 10,500 19,347 8,847
EXPENDITURES
Current:
General govemment 16,914 16,914
Public services $ 786,110 $ 290,319 $ 495,791
Parks and recreation 31,999 38,658 (6,659)
Capital outlay 9,193,711 1,590,539 7,603,172
Debt service
Principal
Interest and fiscal
Total Expenditures 10,011,820 1,919,516 8,092,304 16,914 16,914
EXCESS(DEFICIENCY)OF REVENUES
OVER EXPENDITURES (10,011,820) (1,919,516) 8,092,304 (6,414) 2,433 8,847
OTHER FINANCING SOURCES(USES)
Operating transfers in 10,048,321 1,919,516 (8,128,805)
Advances from City
Operating transfers out (25,000) 25,000
Total Other Financing Sources(Uses) 10,048,321 1,919,516 (8,128,805) (25,000) 25,000
EXCESS(DEFICIENCY)OF REVENUES
AND OTHER SOURCES OVER
EXPENDITURES AND OTHER USES $ 36,501 $ (36,501) $ (31,414) 2,433 $ 33,847
Fund Balances,Beginning of Year 434,557
Fund Balances,End of Year $ - $ 436,990
37
Equipment Redevelopment
Replacement Agency Total
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 1,350,000 $ 1,785,733 $ 435,733 $ 1,350,000 $ 1,785,733 $ 435,733
(2,250) (2,250) (2,250) (2,250)
106,929 112,299 5,370 106,929 112,299 5,370
$ 16,000 $ 11,360 $ (4,640) 440,000 1,058,656 618,656 466,500 1,089,363 622,863
22,495 22,495 22,495 22,495
16,000 11,360 (4,640) 1,896,929 2,976,933 1,080,004 1,923,429 3,007,640 1,084,211
753,888 674,182 79,706 770,802 691,096 79,706
786,110 290,319 495,791
31,999 38,658 (6,659)
28,278 25,701 2,577 359,841 66,232 293,609 9,581,830 1,682,472 7,899,358
2,500,000 2,500,000 2,500,000 2,500,000
475,000 475,000 475,000 475,000
28,278 25,701 2,577 4,088,729 3,715,414 373,315 14,145,741 5,677,545 8,468,196
(12,278) (14,341) (2,063) (2,191,800) (738,481) 1,453,319 (12,222,312) (2,669,905) 9,552,407
10,048,321 1,919,516 (8,128,805)
665,000 (665,000) 665,000 (665,000)
(20,081) (20,081) (1,001,700) (1,004,994) (3,294) (1,046,781) (1,025,075) 21,706
(20,081) (20,081) (336,700) (1,004,994) (668,294) 9,666,540 894,441 (8,772,099)
$ (32,359) (34,422) $ (2,063) $ (2,528,500) (1,743,475) $ 785,025 $ (2,555,772) (1,775,464) $ 780,308
277,079 12,435,854 13,147,490
$ 242,657 $ 10,692,379 $ 11,372,026
37
CITY OF MOORPARK
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUND—DEVELOPER DEPOSIT FUND
FOR THE FISCAL YEAR ENDED JUNE 30, 1999
Balance Net Net Balance
Fund Name June 30, 1998 Additions Reductions June 30, 1999
Cash and investments $ 1,184,041 $ 16,949 $ 1,167,092
Accounts receivable $ 725 725
Total Assets $ 1,184,041 $ 725 $ 16,949 $ 1,167,817
Accounts payable 174,686 66,162 240,848
Developer deposits 1,009,355 82,386 926,969
Total Liabilities $ 1,184,041 $66,162 $ 82,386 $ 1,167,817
38
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF MOORPARK
REQUIRED SUPPLEMENTARY INFORMATION
YEAR 2000 DISCLOSURES
(Unaudited)
JUNE 30, 1999
Therefore,the information given below also applies to the Agency. The year 2000 issue is the result of
shortcomings in many electronic data processing systems and other electronic equipment that may adversely
affect the government's operations as early as fiscal year 1999.
The City of Moorpark has completed an inventory of computer systems and other electronic equipment that may
be affected by the year 2000 issue and that are necessary to conduction City operations:
• The financial system/general ledger the City uses, Business Records Corporation, is off the shelf
software that was purchased from an outside vendor. The City has received a letter from the vendor
that the financial system appears to be year 2000 compliant. Validation and testing of this system has
been completed.
• The City uses Automated Data Processing(ADP) for its payroll processing. The City has received a
letter from ADP stating that the payroll system is year 2000 compliant. ADP is responsible for
remediating these systems and is solely responsible for any costs associated with the project.
• The City uses a server/network for managing most of the City's software applications. The system
was replaced during the 1998-99 fiscal year. As a part of purchasing the new system,the City
required assurance from the vendor that the system is year 2000 ready. Consequently,
Remediation/Validation/Testing for this system has been completed.
• The City's traffic control system is run and maintained by Signal Maintenance, Inc. The City and the
State of California are responsible for remediating these systems depending upon the ownership of
the traffic signals. The costs associated with the remediation is solely responsibility of the respective
owner of such signals. The City has completed the validation and testing stage for the signals owned
by the City and has determined that they are year 2000 ready. The State of California is responsible
for all remediation for the systems they own.
• Tax collection for the City is handled by Ventura County. The County is responsible for remediating
this system, and is solely responsible for any costs associated with this project.
• Various revenues such as sales tax,motor vehicle in lieu fees, etc. are collected by the State of
California. The State is responsible for remediating this system, and is solely responsible for any
costs associated with this project.
• The City has deposits with Bank of America, Bank of New York, and the Local Agency Investment
Fund(LAIF). These institutions/agencies provide banking/investment services for the City and are
responsible for remediating their systems and are solely responsible for any costs associated with the
project.
• The City owns office space for City Hall with power,heating, and air-conditioning systems. The City
is responsible for remediating all applicable systems and is solely responsible for any costs associated
with the project.
Because of the unprecedented nature of the Year 2000 issue, its effects and the success of related remediation
efforts will not be fully determinable until the year 2000 and thereafter. Management has assured that the City of
Moorpark is Year 2000 ready, that the City's remediation efforts will be successful. It is not known if all parties
with whom the City does business will be year 2000 ready.
39
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
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
40
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
Governmental Fund Types include General Fund and all Special Revenue,Debt Service and Capital Projects
Funds.
Source: City of Moorpark
41
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 1,646,630,44141 6.2% 33,355,481
1993 1,674,603,922 57,669,820 1,732,273,742 5.2% 33,507,656
1994 1,673,307,475 57,005,483 1,730,312,958 -0.1% 33,943,139
1995 1,732,877,452 56,810,214 1,789,687,666 3.4% 36,000,192
1996 1,784,220,963 63,819,253 1,848,040,216 3.3% 37,421,267
1997 1,848,655,764 68,944,812 1,917,600,576 3.8% 38,289,239
1998 1,920,177,164 70,911,851 1,991,089,015 3.8% 39,313,581
1999 2,035,487,530 85,464,519 2,120,952,049 6.5% 40,240,720
Source: Ventura County Assessor
42
CITY OF MOORPARK
SECURED TAX CHARGE AM)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%
Source: California Municipal Statistics, Inc.
43
CITY OF MOORPARK
DIRECT AND OVERLAPPING BONDED DEBT
AS OF FISCAL YEAR 1998-99
1998-1999 Assessed Valuation: $ 2,094,911,418
Redevelopment Incremental Valuation: 169,715,956
Adjusted Assessed Valuation: $ 1,925,195,462
Percent Debt
Direct and Overlapping Tax and Assessment Debt: Applicable as 4/1/99
Ventura County Flood Control District Zone No. 3 8.317% $ 285,689
Metropolitan Water District 0.225% 1,300,579
Ventura County Waterworks District No. 1 100.000% 180,000
Conejo Valley Unified School District 0.003% 900
City of Moorpark Commujity Facilities District No. 97-1 100.000% 7,630,000
City of Moorpark 1915 Act Bonds 100.000% 2,430,000
Total Direct and Overlapping Tax&Assessment Debt $11,827,168
Overlapping General Fund Obligation Debt: 4.235% $ 2,557,093
Ventura County General Fund Obligations 4.235% 5,710,686
Ventura County Pension Obligations 4.235% 137,849
Ventura County Superintendent of Schools COPS 4.238% 663,459
Ventura County Community College District COPS 90.932% 5,451,373
Ventura County Library District Authority 6.829% 52,925
Total Overlapping General Fund Obligation Debt $14,573,385
Combined Total Debt* $26,400,553
Ratios to 1998-99 Assessed Valuation:
Direct Debt 0.00%
Total Direct and Overlapping Tax&Assessment Debt 0.56%
Ratio to Adjusted Assessed Valuation
Combined Total Debt 1.37%
State School Building Aid Repayable as of 6/30/98 0
* Excludes tax and revenue anticipation notes,revenue,mortgage revenue and tax allocation bonds and
non-bonded capital lease oblitations.
Source: California Municipal Statistics, Inc.
44
CITY OF MOORPARK
COMPUTATION OF LEGAL DEBT MARGIN AND
BREAKDOWN OF GENERAL PROPERTY TAX LEVY
Legal Debt Margin as of June 30, 1999
Assessed Valuation:
Secured property assessed value: $ 2,035,487,530
Bonded Debt Limit(15%of Assessed Value) $ 305,323,130
Amount of Debt Subject to Debt Limit
Total Bonded Debt $ 8,910,000
Less CRA Tax Allocation Bonds 8,910,000
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 14.30%
City of Moorpark 7.80%
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 101.33%
Source: City of Moorpark, Ventura County Assessor and HdL Coren&Cone
45
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%
Source: City of Moorpark, and State Department of Finance
46
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
Source: City of Moorpark,
47
CITY OF MOORPARK
LARGEST PROPERTY OWNERS
PER ASSESSED VALUATION 1998
Assessed
Value of
Property Owner Property
Fred Kavli $ 35,252,621
Lennar Homes of California Inc. 29,478,000
Security Capital Pacific Trust 29,274,000
Litton Systems Inc. 16,216,600
RN Properties LLC 15,065,102
Teledyne Industries Inc. 14,025,000
James Lessor Birkenshaw, et al 12,355,533
Pac C. Ventura&Lessor&Chemical 9,899,539
Rose Leonard Trust 9,623,699
Seagate Technology Inc. 9,106,200
Moorpark Plaza LLC 6,210,200
Mission Bell Partners 6,105,547
Pars California Development Corporation 5,600,000
Sherman Family Investment Group 5,040,870
General Optics Inc. 4,953,397
Source: Hdl Coren&Cone and Ventura County Assessor
48
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: 29,589 Education(Number of Schools):
High Schools 2
Registered Voters: 16,429 Middle Schools 2
Elementary Schools 6
City Employees: 73
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
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