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Home My WebLink AboutACFR 1998 CITY OF MOORPARK, CALIFORNIA Annual Financial Report June 30, 1998 (With Independent Auditors' Report Thereon) CITY OF MOORPARK, CALIFORNIA Table of Contents Schedule Page Independent Auditors' Report 1 General Purpose Financial Statements as of June 30, 1998 and for the year then ended: Combined Balance Sheet—All Fund Types and Account Groups 3 Combined Statement of Revenues, Expenditures and Changes in Fund Balances—All Governmental Fund Types 4 Combined Statement of Revenues,Expenditures and Changes in Fund Balances—Budget and Actual—General,Special Revenue and Certain Capital Projects Funds 5 Notes to General Purpose Financial Statements 7 Supplementary Information—Combining Financial Statements as of June 30, 1998 and for the year then ended: Special Revenue Funds: Combining Balance Sheet 1 27 Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits) 2 29 Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)—Budget and Actual 3 31 Capital Projects Funds: Combining Balance Sheet 4 41 Combining Statement of Revenues,Expenditures and Changes in Fund Balances 5 42 Statement of Revenues,Expenditures and Changes in Fund Balance—Budget and Actual—Redevelopment Capital Projects Fund 6 43 Agency Fund: Statement of Changes in Assets and Liabilities 7 44 Peat Marwick LLP 725 South Figueroa Street Telephone 213 972 4000 Telefax 213 622 1217 Los Angeles, CA 90017 INDEPENDENT AUDITORS' REPORT The Honorable City Council City of Moorpark, California: We have audited the accompanying general purpose financial statements of the City of Moorpark, California (City) as of June 30, 1998 and for the year then ended, as listed in the accompanying table of contents. These general purpose financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Governmental Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, 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, 1998 and the results of its operations for the year then ended in conformity with generally accepted accounting principles. In accordance with Governmental Auditing Standards, we have also issued a report dated October 23, 1998 on our consideration of the City's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. As discussed in note 1 of the notes to the financial statements, the City adopted the Governmental Accounting Standards Board Statement No. 31, "Accounting and Financial Reporting for Certain Investments and External Investment Pools," effective July 1, 1997. Also, as discussed in note 9 of the notes to the financial statements, the City adopted the Governmental Accounting Standards Board Statement No. 32, "Accounting and Financial Reporting for IRS Section 457— Deferred Compensation,"effective June 30, 1998. IIII 1 Member Firm of KPMG International Also, as discussed in note 6 of the notes to the financial statements, the City adopted the Governmental Accounting Standards Board Statement No. 27, "Accounting for Pensions by Sate and Local Governmental Employees,"effective June 30, 1998. 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 additional financial 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. Gr Peat October 23, 1998 2 GENERAL PURPOSE FINANCIAL STATEMENTS CITY OF MOORPARK,CALIFORNIA Combined Balance Sheet-All Fund Types and Account Groups lune 30,1998 with comparative total figures at lune 30,1997 Account Groups Governmental Fund Types Fiduciary General General Totals General Special Debt Service Capital Fund Types Fixed Long-Term (memorandum only) Assets and Other Debits Fund Revenue Funds Fund Projects Funds Agency Funds Assets Debt 1998 1997 Cash and investments(note 3) $ (809,292) 18,251,662 - 9,113,572 1,184,041 - - 27,739,983 25,499,346 Restricted cash and investments(note 3) - - 834,293 - - - - 834,293 788,255 Accounts and interest receivable,net(note 13) 310,384 1,703,790 11,429 3(8),924 - - - 2,326,527 3,106,525 Taxes receivable 54,425 - - 8,182 - - - 62,607 71,763 Notes receivable - 119,868 - 3,833,464 - - - 3,953,332 3,934,5(81 Duc from other funds(note 8) 341,294 42,461 - - - - - 383,755 153,651 Lung-term advance to Redevelopment Agency 7,028,571 - - - - - - 7.028,571 6,303,202 Other assets 160,935 - - - - - - 160,935 123,227 Land held for resale - 1,500.(88) - - - - 1,500,(88) 1,5(10.008) Property and equipment(note 7) - - - - - 20,776.070 - 20,776,070 20,5(11,143 Amount available for debt service - - - - - - 845,722 845,722 788,255 Amount to he provided for retirement of general long-term debt - - - - - - 15,511,620 15,511,620 15.042,894 Total assets and other debits $ 7,086,317 21,617,781 845,722 13,256,142 1,184,041 20,776,070 16,357,342 81,123,415 77,812,761 Liabilities,Fund Balances and Other Credits Liabilities: Accounts payable and accrued liabilities $ 448,958 433,059 - 108,652 174,686 - - 1,165,355 2,245,026 Employees compensated absences payable(note 4) - - - - - - 178,771 178,771 152,947 Deposits,principally from developers - - - - 1,009,355 - - 1,18)9,355 1,241,983 Due to other funds(note 8) - 383,755 - - - - - 383,755 153,651 Deferred revenue 57,844 458,886 - - - - 516,730 540,759 Long-term advance from City General Fund(note 4) - - - - - - 7,028,571 7,028,571 6,303,202 Tax allocation bonds payable(note 4) - - - - - - - 9,150,(8)0 9,150,(88) 9,375,000 Total liabilities 506,802 1,275,7(8) - 108,652 1,184,041 - 16,357,342 19,432.537 20,012,568 Fund balances and other credits: Investment in general fixed assets - - - - - 20,776,070 - 20,776,070 20,501,143 Fund balances: Reserved AB939 activity 421,126 - - - - - - 421,126 225,126 Reserved for unpaid grants 23,672 - - - 23,672 34,786 Reserved for encumbrances 31,151 979,434 - 36,585 - - - 1,(47,17(1 924,988 Reserved for receivables due after one year,net 116.666 1,232,897 - 3.921,286 - - - 5,270,849 5,982,370 Reserved for land held for resale - 1,5(8),0(8) - - - - - 1,500,(88) 1,54,188) Reserved for prepaid expenditures 160,935 - - - - - - 160,935 123,227 Reserved for debt service 845,722 - - - - 845,722 788,255 Reserved for low/moderate income housing(note 5) - 1,045,437 - - - - - 1,045,437 974,583 Reserved for advances to Redevelopment Agency 7,028,571 - - - - 7,028,571 6,303,202 Reserved for park maintenance 169,000 - - - - - - 169,000 - Unreserved: Designated(note 14) - 109,002 - 8,497,026 - 8,606,028 7,371,034 Undesignated (1,371,606) _ 15,475,311 - 692,593 - - - 14,796,298 13,071,479 Total fund balances and other credits 6,579,515 20,342,081 845,722 13,147,490 - 20,776,070 - 61,690,878 57,8(8),193 Commitments and contingencies(notes 6,10,12,15 and 16) - - - - - - Total liabilities,fund balances and other credits $ 7,086,317 21,617,781 845,722 13,256,142 1,184,041 20,776,070 16,357,342 81,123.415 77,812.761 See accompanying notes to general purpose financial statements. 3 CITY OF MOORPARK,CALIFORNIA Combined Statement of Revenues,Expenditures and Changes in Fund Balances-All Governmental Fund Types Year ended June 30, 1998 with comparative total figures for the year ended June 30, 1997 Governmental Fund Types Totals General Special Debt Service Capital (memorandum only) Fund Revenue Funds Fund Projects Funds 1998 1997 Revenues: Property taxes $ 1,366,384 - - 1,574,393 2,940,777 2,773,054 Sales taxes 1,363,626 - - - 1,363,626 1,353,619 Other taxes 33,499 541,420 - - 574,919 555,859 Motor vehicle license fees 1,219,914 - - - 1,219,914 1,129,512 Utility franchise fees 762,076 - - - 762,076 719,341 Building and safety fees - 324,749 324,749 471,493 Maintenance assessments 4,600 1,560,965 - 65,431 1,630,996 1,667,099 Subventions and grants 101,261 1,069,026 - - 1,170,287 1,373,726 Planning and public works fees - 1,353,677 - - 1,353,677 1,432,441 Park development fees - 320,334 - - 320,334 40,289 Charges for current services 419,944 72,414 - 114,030 606,388 900,180 Fines and forfeitures 106,032 2,230 - - 108,262 126,792 Interest 503,045 933,747 80,936 471,003 1,988,731 1,984,162 Other 498,172 16,907 - 21 515,100 367,146 Total revenues 6,378,553 6,195,469 80,936 2,224,878 14,879,836 14,894,713 Expenditures: Current: General government 1,076,596 37,313 - 517,878 1,631,787 1,386,598 Public safety 3,026,724 - - - 3,026,724 2,807,382 Public services 294,625 3,134,400 - 170,335 3,599,360 3,960,313 Parks and recreation 791,772 589,286 - - 1,381,058 1,336,029 Capital outlay 111,849 92,988 - 876,977 1,081,814 3,452,115 Debt service: Principal retirement - - 225,000 - 225,000 215,000 Interest and fiscal charges - - 550,294 493,410 1,043,704 910,199 Total expenditures 5,301,566 3,853,987 775,294 2,058,600 11,989,447 14,067,636 Excess(deficiency)of revenues over expenditures 1,076,987 2,341,482 (694,358) 166,278 2,890,389 827,077 Other financing sources(uses): Operating transfers in(note 8) 9,036 484,043 751,825 845,431 2,090,335 4,399,073 Operating transfers out(note 8) (370,221) (654,468) - (1,065,646) (2,090,335) (4,399,073) Proceeds from sale of City property - - - - - 16,451 Proceeds from long-term advances from City General Fund - 47,064 - 678,305 725,369 1,193,033 Total other financing sources(uses) (361,185) (123,361) 751,825 458,090 725,369 1,209,484 Excess of revenues and other sources over expen- ditures and other uses 715,802 2,218,121 57,467 624,368 3,615,758 2,036,561 Fund balances,July 1 5,863,713 18,123,960 788,255 12,523,122 37,299,050 35,262,489 Fund balances,June 30 $ 6,579,515 20,342,081 845,722 13,147,490 40,914,808 37,299,050 See accompanying notes to general purpose financial statements. 4 CITY OF MOORPARK,CALIFORNIA Combined Statement of Revenues,Expenditures and Changes in Fund Balances-Budget and Actual-General,Special Revenue and Certain Capital Projects Funds Year ended June 30, 1998 General Fund Special Revenue Funds Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Property taxes $ 1,298,100 1,366,384 68,284 - - - Sales taxes 1,400,000 1,363,626 (36,374) - - - Other taxes 42,530 33,499 (9,031) 547,600 541,420 (6,180) Motor vehicle license fees 1,137,000 1,219,914 82,914 - - - Utility franchise fees 647,800 762,076 114,276 - - - Building and safety fees - - - 530,131 324,749 (205,382) Maintenance assessments - 4,600 4,600 1,849,138 1,560,965 (288,173) Subventions and grants 246,530 101,261 (145,269) 2,027,666 1,069,026 (958,640) Planning and public works fees - - - 1,226,042 1,353,677 127,635 Park development fees - - - 142,200 320,334 178,134 Charges for current services 396,620 419,944 23,324 281,675 72,414 (209,261) Fines and forfeitures 81,270 106,032 24,762 1,300 2,230 930 Interest 505,000 503,045 (1,955) 652,800 933,747 280,947 Other 99,791 498,172 398,381 26,144 16,907 (9,237) Total revenues 5,854,641 6,378,553 523,912 7,284,696 6,195,469 (1,089,227) Expenditures: Current: General government 1,169,263 1,076,596 92,667 243,420 37,313 206,107 Public safety 3,143,357 3,026,724 116,633 - - - Public services 337,384 294,625 42,759 4,066,957 3,134,400 932,557 Parks and recreation 1,010,797 791,772 219,025 617,184 589,286 27,898 Capital outlay 169,221 111,849 57,372 312,917 92,988 219,929 Debt service-interest expense - - - - - - Total expenditures 5,830,022 5,301,566 528,456 5,240,478 3,853,987 1,386,491 Excess of revenues over expenditures 24,619 1,076,987 1,052,368 2,044,218 2,341,482 297,264 Other financing sources(uses): Operating transfers in(note 8) 97,925 9,036 (88,889) 792,839 484,043 (308,796) Operating transfers out(note 8) (446,000) (370,221) 75,779 (5,373,081) (654,468) 4,718,613 Proceeds from long-term advances from General Fund - - - 79,183 47,064 (32,1 19) Total other financing sources(uses) (348,075) (361,185) (13,110) (4,501,059) (123,361) 4,377,698 Excess(deficiency)of revenues and other sources over expenditures and other uses (323,456) 715,802 1,039,258 (2,456,841) 2,218,121 4,674,962 Fund balances,July 1 5,863,713 5,863,713 - 18,123,960 18,123,960 - Fund balances,June 30 $ 5,540,257 6,579,515 1,039,258 15,667,119 20,342,081 4,674,962 (Continued) 5 1 CITY OF MOORPARK,CALIFORNIA Combined Statement of Revenues,Expenditures and Changes in Fund Balances-Budget and Actual-General,Special Revenue and Certain Capital Projects Funds,Continued Year ended June 30, 1998 Certain Capital Projects Funds(note 2) Totals(memorandum only) Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Property taxes $ 1,312,347 1,574,393 262,046 2,610,447 2,940,777 330,330 Sales taxes - - - 1,400,000 1,363,626 (36,374) Other taxes - - - 590,130 574,919 (15,211) Motor vehicle license fees - - - 1,137,000 1,219,914 82,914 Utility franchise fees - - - 647,800 762,076 114,276 Building and safety fees - - - 530,131 324,749 (205,382) Maintenance assessments - 65,431 65,431 1,849,138 1,630,996 (218,142) Subventions and grants - - - 2,274,196 1,170,287 (1,103,909) Planning and public works fees - - - 1,226,042 1,353,677 127,635 Park development fees - - - 142,200 320,334 178,134 Charges for current services 107,424 114,030 6,606 785,719 606,388 (179,331) Fines and forfeitures - - - 82,570 108,262 25,692 Interest - 431,630 431,630 1,157,800 1,868,422 710,622 Other - 21 21 125,935 515,100 389,165 Total revenues 1,419,771 2,185,505 765,734 14,559,108 14,759,527 200,419 Expenditures: Current: General government 442,532 497,369 (54,837) 1,855,215 1,611,278 243,937 Public safety - - - 3,143,357 3,026,724 116,633 Public services - - - 4,404,341 3,429,025 975,316 Parks and recreation - - - 1,627,981 1,381,058 246,923 Capital outlay 145,608 374,598 (228,990) 627,746 579,435 48,311 Debt service-interest expense 500,000 493,410 6,590 500,000 493,410 6,590 Total expenditures 1,088,140 1,365,377 (277,237) 12,158,640 10,520,930 1,637,710 Excess of revenues over expenditures 331,631 820,128 488,497 2,400,468 4,238,597 1,838,129 Other financing sources(uses): Operating transfers in(note 9) - - - 890,764 493,079 (397,685) Operating transfers out(note 9) (1,104,286) (956,645) 147,641 (6,923,367) (1,981,334) 4,942,033 Proceeds from long-term advances from General Fund 431,382 678,305 246,923 510,565 725,369 214,804 Total other financing sources(uses) (672,904) (278,340) 394,564 (5,522,038) (762,886) 4,759,152 Excess(deficiency)of revenues and other sources over expenditures and other uses (341,273) 541,788 883,061 (3,121,570) 3,475,711 6,597,281 Fund balances,July 1 11,894,066 11,894,066 - 35,881,739 35,881,739 - Fund balances,June 30 $ 11,552,793 12,435,854 883,061 32,760,169 39,357,450 6,597,281 See accompanying notes to general purpose financial statements. 6 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements June 30, 1998 (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. /kcoording|y, the City uses several fund types and account groups as described below. Fund Types and Account Groups A fund or account group is an accounting entity with a self-balancing set of accounts established to record the financial position and results of operations of a specific governmental activity. The City maintains the following fund types and account groups: • Governmental fund \ypcu, which include the General Fund, Special Revenue, Debt Service and Capital Projects Fundn, are used to record the general operations of the City. • Fiduciary fund type (Agency Funds), which is used to account for assets held by the City as an agent for individuu|s, organizations and other funds. The Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of operations. • 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, which is used to account for unmatured long-term indebtedness of the governmental fund types. Reporting Entity The accompanying general purpose financial statements include all accounts for the City and the Redevelopment Agency of the City of Moorpark (Redevelopment Agency), 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 /k0cnry, 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. 7 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued 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 yeuc'cnd, certain other intergovernmental revenues and interest. In accruing intergovernmental oovrnoeo, 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. Cash and Investments Effective July 1, 1997, the City adopted the provisions of GASB Statement No. 31,Accounting and Financial Reporting for Certain investments and External Investment Pools. This statement requires governmental entities, including external investment yoo\m, to report certain investments at fair value and recognize corresponding changes in the fair value of investments in the year in which the change occurred. At July \. 1997, the cost of the City's investment portfolio approximated fair value; occonding\y, no adjustment to the City's beginning fund balance needed to be recorded to properly reflect the implementation of GASB Statement No. 31. At June 30, 1998, the City's investment balances have been reflected at fair value. Interfund Transactions In the course of normal opuruhona, 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 Pjects 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 $7,028.571 at June 30, 1998, are to be repaid over an indeterminate 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. 8 . � CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued 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 .07896 of the 1% County levy. The Redevelopment Agency receives incremental property taxes on property within its project area over the base-assessed valuation at the date the prject area was established. Tax levies cover the period from July 1 to June 30 of each year. All tax liens 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 l 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. 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, 1998. 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) and is offset by a reservation of fund balance to indicate that assets are not available for expenditure. 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 (roudu, curbs, xidnvvu\kx, 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. 9 .' CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued 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. 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. 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. (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 Redevelopment Agency Capital Projects Fund. 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 for 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 imnmu(criu|, are included in the budget amounts in the accompanying general purpose financial statements. Appropriations lapse at year-end. 10 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued A reconciliation of funds between the Combined Statement of Revenues, Expenditures and Changes in Fund Balances — Budget and Actual and the Combined Statement of Revenues, Expenditures and Changes in Fund Balances—Certain Capital Projects Funds is as follows: Capital Projects Fund Balance, Combined Balance, Statement of Combined Revenues, Statement of Expenditures Revenues, and Changes Expenditures in Fund and Changes Less Balances— in Fund nonbudgeted Budget and Balances funds Actual Total revenues $ 2,224,878 39,373 2,185,505 Total expenditures 2,058,600 693,223 1,365,377 Excess (deficiency) of revenues over expenditures 166,278 (653,850) 820,128 Other financing sources (uses) 458,090 736,430 (278,340) Excess (deficiency) of revenues and other sources over expenditures and other uses 624,368 82,580 541,788 Fund balances,July 1, 1997 12,523,122 629,056 11,894,066 Fund balances, June 30, 1998 $ 13,147,490 711,636 12,435,854 11 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (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. 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% 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% of a city's total deposits. 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 • Commercial paper • Small business administration loans • LAIF • Certificates of deposit(or time deposits) placed with commercial banks and/or • Repurchase agreements savings and loan companies Passbook savings accounts • Negotiable certificates of deposit • Reverse-repurchase agreements • Bankers' acceptances As of and for the year ended June 30, 1998 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. 12 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued The City's cash and investments at June 30, 1998 are as follows: Unrestricted cash and investments $ 27,739,983 Restricted cash and investments 834,293 $ 28,574,276 The cash and investments are aggregated as follows: Deposits 1,631,952 Investments 26,942,324 $ 28,574,276 The City's deposits at June 30, 1998 are categorized in the following table: Carrying Bank balance, amount, Description Category 1 Category 2 Category 3 June 30, 1998 June 30, 1998 Deposits held with banks 100,000 1,532,458 1,632,458 1,631,952 • 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's name. • Category 3 — Includes uninsured and unregistered investments for which securities are held by the financial institution's trust department or agent but not in the City's name. 13 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued The City's investments at June 30, 1998 are categorized in the following table: Not required Carrying to be amount at fair Description Category 1 Category 2 Category 3 categorized value U.S. Government securities 2,782.609 -- 2,782.609 Investments held in trust by fiscal agents on behalf of the City of Moorpark (restricted assets)—investment agreement -- -- 834,293 -- 894.293 Money Market Fund -- -- -- 5.482.855 5.482,855 State Treasurer's Local Agency Investment Fund -- -- -- 17.842.567 17,842`567 Total 3,610.902 25.325,422 26,942,324 ° 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, 1998, 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. 14 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (4) Long-Term Debt The following is a schedule of changes in long-term debt for the fiscal year ended June 30, 1998: Balance, Balance, July 1, 1997 Additions Deletions June 30, 1998 Employee compensated absences payable 152,947 25,824 178,771 1993 Tax Allocation Bonds 9,375,000 225,000 9,150,000 Long-term advances from the General Fund 6,303,202 725,369 7,028,571 Total 15,831,149 751,193 225,000 16,357,342 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. 1993 Tax Allocation Bonds In 1993, the Redevelopment Agency issued a $10,000,000 aggregate principal amount of Moorpark Redevelopment Project 1993 Tax Allocation Bonds (the Bonds). The purpose of the Bonds was to finance a portion of the costs of implementing the Redevelopment Plan, including low- and moderate-income housing projects. The Bonds bear interest at rates ranging from 3.30% to 6.00% per annum, payable semiannually on April 1 and October 1 of each year, commencing on October 1, 1993 and are subject to mandatory sinking fund redemption commencing on October 1, 2008 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. 15 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued The Bonds are subject to optional redemption on any interest payment date on or after October 1, 2003, by lot within a given maturity, at the option of the Redevelopment Agency at a redemption price equal to the principal amount to be redeemed together with accrued interest to the redemption date (expressed as a percentage of the principal amount of Bonds to be redeemed) as follows: Redemption Redemption dates price October 1,2003 and April 1, 2004 102% October 1,2004 and April 1, 2005 101 October 1,2005 and thereafter 100 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. A reserve account is required to be maintained in an amount equal to the lesser of (i) the maximum annual debt service ($788,200) or (ii) the maximum amount permitted to be deposited in the Debt Service Reserve Account ($1,000,000). The balance of the reserve account at June 30, 1998 is $834,293. Debt service payments on the 1993 Tax Allocation Bonds payable will be made from the Debt Service Fund. Annual debt service requirements to maturity are as follows: Fiscal year Principal Interest Total 1998-99 $ 240,000 539,239 779,239 1999-2000 250,000 526,984 776,984 2000-2001 260,000 513,784 773,784 2001-2002 275,000 499,534 774,534 2002-2003 290,000 484,061 774,061 Thereafter 7,835,000 4,430,102 12,265,102 Total $ 9,150,000 6,993,704 16,143,704 16 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements,Continued Advances from the General Fund The City's General Fund has paid for services and start-up expenditures incurred by the Redevelopment Agency. The amount advanced on behalf of the Redevelopment Agency during the fiscal year ended June 30, 1998 totaled $725,369 and is due over an indeterminate period of time and accrues interest at 10%. During the fiscal year ended June 30, 1994, the City's General Fund also advanced $3.5 million to the Redevelopment Agency which the Redevelopment Agency used, together with $1.5 million of Low- and Moderate-Housing Funds and $.5 million of City Park Development Funds, to purchase certain properties within the Redevelopment Agency project area. This advance also accrues interest at 10% and is to be repaid over an indeterminate period. The balance of advances from the General Fund totaled $7,028,571 at June 30, 1998. (5) Low- and Moderate-Income Housing Set Aside The Health and Safety Code Section 33334.2 requires cities with redevelopment agencies to use at least 20% 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. Accordingly, the Redevelopment Agency's unspent commitment for its low- and moderate-income housing program from the issuance of the 1993 Tax Allocation Bonds described in note 4 and tax increment revenues amounted to $1,045,437 and is reflected as a reservation of fund balance in the Redevelopment Agency's Low- and Moderate-Income Housing Special Revenue Fund. (6) Retirement Plan Plan Description The City of Moorpark's defined benefit pension plan (the Plan), provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. The Plan is part of the Public Agency portion of the California Public Employees Retirement System (CaIPERS), an agent-multiple-employer plan administered by CaIPERS, 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 CaIPERS' annual financial report may be obtained from the CaIPERS Executive Office-400 P Street, Sacramento, CA 95814. 17 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, 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 Social Security.) 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% at age 50 to a maximum of 2.7% at age 55 for safety employees, and 1.092% at age 50 to a maximum of 2.418% at age 63 for non-safety employees of the employees' single highest year's salary for each year of credited service. The Plan also provides death and disability benefits. Funding Policy Active plan members in the Plan are required to contribute 6.04% 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, 1998 was 4.31%. 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. Annual Pension Cost For the year ended June 30, 1998, the City of Moorpark's annual pension cost and its actual contributions were $82,374. The City also contributed $104,310 on behalf of employees. Employees directly contributed $135,808 . Total contributions were $322,492. The required contribution for the year ended June 30, 1998 was determined as part of the June 30, 1996 actuarial valuation using the entry age normal actuarial cost method with the contributions determined as a percent of pay. The actuarial assumptions included (a) 8.5% investment rate of return (net of administrative expenses); (b) projected salary increases that vary by duration of service ranging from 4.5% to 14.95% and (c) 4.5% cost-of-living adjustments. Both (a) and (b) include an inflation component of 4.5%. The actuarial value of the Plan's assets was 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, 1997 was three years. 18 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued Three Year Trend Information Annual Percentage of Fiscal year pension cost APC Net pension ended June 30 (APC) contributed obligation 1994 $ 95,542 100% $ — 1995 102,661 100% — 1996 82,374 100% — Required Supplementary Information Funded Status of the Plan (Dollars in thousands) Entry age Unfunded normal (overfunded) Annual UAAL as a Valuation date accrued Actuarial liability covered percentage of (June 30) liability value of assets (UAAL) Funded ratio payroll payroll 1994 $ 1,209,137 1,287,256 (78,119) 106.5% $ 1,823,634 (4.28%) 1995 1,475,350 1,584,238 (108,888) 107.4% 1,745,047 (6.24%) 1996 1,787,608 2,028,298 (240,690) 113.5% 1,674,361 (14,38%) 19 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (7) Property and Equipment A summary of changes in general fixed assets for the year ended June 30, 1998 follows: Balance, Balance, July 1, 1997 Additions Disposals June 30, 1998 Land $ 9,771,438 58,475 — 9,829,913 Buildings and structures 3,684,266 23,502 — 3,707,768 Improvements other than buildings 5,395,709 — — 5,395,709 Office furniture and equipment 939,136 9,743 — 948,879 Other equipment 710,594 183,207 — 893,801 $ 20,501,143 274,927 — 20,776,070 20 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (8) Interfund Transactions A summary of operating transfers and interfund receivables/payables as of and for the year ended June 30, 1998 is included in the following table: Operating Operating Due from Due to transfers in transfers out other funds other funds General Fund $ 9,036 (370,221) 341,294 — Special Revenue Funds: Traffic System Management Fund — (1,570) — — Local Transportation Streets Fund — (86,778) — — Local Transportation Transit Fund 1,504 — — — Assessment District Fund 168,717 — — (42,461) Areas of Contribution Fund — (300,936) 42,461 — Park Development Fund — (5,085) — (328,190) Low- and Moderate- Income Housing Fund 204,820 — — — State Gas Tax Fund 109,002 (46,352) — — CDBG Entitlement Fund — (175,081) — (13,104) Other Grants Fund — (38,666) — — Total Special Revenue Funds 484,043 (654,468) 42,461 (383,755) Capital Projects Funds: Capital Projects Fund 645,431 — — — City Hall Building Fund 200,000 — — — Equipment Replacement Fund — (109,001) — — Redevelopment Agency Fund — (956,645) — — Total Capital Projects Funds 845,431 (1,065,646) — — Debt Service Fund 751,825 — — — Total $ 2,090,335 (2,090,335) 383,755 (383,755) 21 • CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (9) Employee-Deferred Compensation Plans The City offers its employees two deferred compensation plans created in accordance with Internal Revenue Code Section 457. The first plan is available to all full-time City employees. The second plan, available to all part-time City employees, is used for purposes of providing retirement benefits to these employees. The City contributes 7.5% of the part-time employees' salaries into this plan on behalf of the employees. Both plans permit the employees to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. Recently approved Federal legislation requires that Section 457 plan assets be held in trust for employees. This change means that employee assets held in Section 457 plans no longer legally remain the property of the City. Therefore, such assets are not subject to claims of the City's general creditors. As such, in accordance with GASB Statement No. 32, "Accounting and Financial Reporting for IRS Section 457 — Deferred Compensation," deferred compensation assets, approximating$538,323, have been excluded from the combined balance sheet at June 30, 1998. (10) Commitments and Contingencies 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 $2,965,943 for the year ended June 30, 1998. 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. 22 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (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, 1906. 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% of the units of the pject financed with the bonds are made available to persons and families with incomes not exceeding 80% of the County median income and another 10% of the units for persons and families with income not exceeding 50% of the County median income. The units were available under this program for a 30'ycuc 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 Tomstee. 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, 1998. 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, 1998. Each of the bond programs described above do not constitute an 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. Acconding\y, these programs and the bonds issued thereunder have been excluded from the accompanying general purpose financial statements. 23 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (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 $2,430,000 at June 30, 1998. 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% to 6% 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, 1998. 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 from 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%, 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. 24 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements, Continued (13) General Liability Insurance The City is self-insured through the Southern California Joint Powers Insurance Authority (the Authority), a public entity risk pool. The Authority is made up of approximately 70 Southern California municipalities and provides joint protection wherein cities pool their losses and duimoo,jointly purchase excess insurance and share administrative and related costs. The program includes both comprehensive liability and workers' compensation coverage for member cities. Under the liability program, the City absorbs the first $20.000 of each occurrence (retained losses), shares pro rata all members' losses from $20,000 to $500,000 based on each member's retained losses as a percentage of total retained {omxna, and shares pro rata remaining losses from $500,000 to$1 million and general and administrative costs based on each member's payroll. A separate pool is set aside to cover losses from $1 million to $10 million. Coverages for the workers' compensation program are similar, except the amounts used are $10.000; $10,000 to $100.000; $100,000 to $500,000; and above $500,000 to $5,000,000 covered by an excess insurance policy, respectively. No long-term debt has been incurred by the Authority. Because the City does not have primary oversight responsibility, the Authority is not considered part of the City's reporting entity. Summary unaudited financial information of the Authority for the year ended June 30, 1998 is as follows: Total assets $ 136.893.325 Total liabilities 37.665.241 Total fund balances 99.228,004 Total revenues 24,362,767 Total expenses 20,974.367 (14) Fund Balances The State Gas Tax Special Revenue Fund has designated $109.002 for replacement of equipment. The Redevelopment Agency has designated $8,497,026 of fund balance in the Redevelopment Agency Capital Pjects Fund for business incentives and future capital pjectx. (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. 25 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements,Continued (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. 26 SUPPLEMENTARY INFORMATION SPECIAL REVENUE FUNDS Schedule I CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds June 30,1998 with comparative total figures at June 30,1997 Citywide Local Local Traffic System Traffic Transportation Transportation Crossing Assessment Areas of Park Community Traffic Safety Management Mitigation Streets Transit Guard District Contribution Development Development Assets Fund(200) Fund(21)1) Fund(202) Fund(203) Fund(204) Fund(205) Fund(210) Fund(211) Fund(212) Fund(220) Cash and investments $ 46,482 1,050,078 1,069,341 2,072,286 87,431 113,505 295,504 8,112,528 980,135 444,725 Accounts and interest receivable,net 7,89(1 8,232 8,410 16,098 77,179 974 45,432 947,931 245,030 18,423 Due from other funds - - - - - - - 42,461 - - Note receivable - 119,868 - - - - - - - - Land held for resale - - - - - - - - Total assets $ 54,372 1,178,178 1,077,751 2,088,384 164,610 114,479 340,936 9,102,920 1,225,165 463,148 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ 1,062 - - - 16,770 93 146,846 - - 197,551 Duc to other funds - - - 42,461 - 328,190 - Deferred revenue - 119,868 - 97,500 50,367 - 188,350 2,801 - Total liabilities 1,062 119,868 - 97,500 67,137 93 189,307 188,350 330,991 197,551 Fund balances: Reserved for encumbrances - - - 359,317 97,473 - 2,240 63,553 173,543 18,587 Reserved for receivables due after one year - - - - - - - 786,160 234,619 - Reserved for low/moderate income housing - - - - - - - - - - Reserved for land held for resale - - - - - - - - - Unreserved: - Designated - - - - - - - - - Undesignated 53,310 1,058,311) 1,077,751 1,631,567 - 114,386 149,389 8,064,857 486,012 247,010 Total fund balances 53,310 1,058,310 1,077,751 1,990,884 97,473 114,386 151,629 8,914,570 894,174 265,597 Total liabilities and fund balances $ 54,372 1,178,178 1,077,751 2,088,384 164,610 114,479 340,936 9,102,920 1,225,165 463,148 (Continued) 27 Schedule 1-2 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds,Continued June 30,1998 with comparative total figures at June 30.1997 Low-and Transportation Affordable Moderate- State Transit Development CDBG Police Housing Income Housing State Gas Tax Assistance Act(Article 3) 1.S.T.E.A. Entitlement Other Facilities Fee Totals Assets Fund(221) Fund(232) Fund(240) Fund(241) Fund(242) Fund(244) Fund(245) Grants(246) Fund(402) 1998 1997 Cash and investments 5 525,413 1,194,455 1,516,991 62.415 92,780 - - - 587,593 18,251,662 15,475,734 Accounts and interest receivable,net 73,314 152,517 17,596 491 731 - 19.412 59,530 4,600 1,703,790 2,335,854 Due from other funds - - - 42,461 42,461 Note receivable - - - - - - - 119,868 Land held Ow resale - 1,5(10,0(10 - _ - - - - - - 1,500,(88) 1,5(10,188) Total assets S 598,727 2,846,972 1,534,587 62,906 93,511 - 19,412 59,530 592,193 21,617,781 19,354,049 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities S 1,644 29,366 33,419 - - - 6,308 - - 433,059 596.957 Due to other funds - - - - - - 13,104 383,755 153,651 Deterred revenue - - - - - - - - 458,886 479,481 Total liabilities 1,644 29,366 33,419 - - - 19,412 - - 1,275,700 1230,089 Fund balances: Reserved for encumbrances 45,1810 135,192 25,880 - - - 5,077 18,572 35,1681 979,434 426,308 Reserved for receivables due atter one year 75,141 136,977 - - - - 1,232,897 1,871.697 Reserved for low/moderate income housing - 1,1)45,437 - - - - - 1,145,437 974,583 Reserved lirland held for resale - 1,500,(88) - - - - - - - 1,500,188) 1,5(8)000 Unreserved: Designated 109002 - - - - 109,002 - Undesignated 476,942 - 1,366,286 62,9(6 93,511 - (5,077) 40,958 557,193 15,475,311 13,351,372 Total fund balances 597,(183 2,817,606 1,501,168 62.916 93,511 - - 59,530 592,193 20,342,081 18,123,960 Total liabilities and fund balances $ 598,727 2,846,972 1,534,587 62,906 93,511 19,412 59,530 592,193 21,617,781 19,354,149 Sec accompanying independent auditors'report. 28 Schedule 2 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-All Special Revenue Funds Year ended June 30,1998 with comparative total figures for the year ended June 30,1997 Citywide Local Local Traffic System Traffic Transportation Transportation Crossing Assessment Areas of Park Community Traffic Safety Management Mitigation Streets Transit Guard District Contribution Development Development Fund(2110) Fund(21)1) Fund(202) Fund(203) Fund(214) Fund(2115) Fund(210) Fund(211) Fund(212) Fund(2211) Revenues: Other taxes $ - - - - - - - - - 7.744 Building and safety fees - - - - - - - - - 302,794 Maintenance assessments - 62,664 87,328 - - - 1,186.506 175,290 49,177 - Subventions and grants - - - 499,032 215,772 - - - - - Planning and public works fees - - - - - - - - - 1353,677 Park development fees - - - - - - 320,334 - Charges for current services 41,375 - - 15,065 15,955 - 19 - - - Fines and forfeitures 2.230 - - - - - - Interest - 52,070 53,307 94,763 2,946 6,387 9,287 456,018 59,027 - Other - - - 470 - - - 7.101 - 1,865 Total revenues 43,605 114,734 140,635 609,330 234,673 6,387 1,195,812 638,409 428,538 1,666,080 Expenditures: Current: General government 28 - - - - - - - - 6,626 Public services 36,587 - - - 138,704 12,196 584,738 - - 1,717,753 Parks and recreation - - - - - 4,009 585,277 - - - Capital outlay 12,028 - - - - - 2,700 - 16,653 8,414 Total expenditures 48,643 - - - 138,704 16,205 1,172,715 - 16,653 1,732,783 Excess(deficiency)of revenues over expenditures (5,038) 114,734 140,635 609,330 95,969 (9,818) 23,097 638,409 411,885 (66,703) Other financing sources(uses): Operating transfers in - - - - 1,504 - 168.717 - - - Operating transfers out - (1,570) - (86,778) - - - (300,936) (5,085) - Proceeds from long-term advances from General Fund - - - - - - - - - - Total other financing sources(uses) - (1,570) - (86,778) 1,504 - 168,717 (300,936) (5,085) - Excess(deficiency)of revenues and other sources over expenditures and other uses (5,038) 113,164 140,635 522,552 97,473 (9,818) 191,814 337,473 406,800 (66,703) Fund balances(deficits),July I 58,348 945,146 937,116 1,468332 - 124,204 (40,185) 8,577,097 487.374 332,3(0 Fund balances,June 30 $ 53,310 1,058,310 1,077,751 1,990,884 97,473 114,386 151,629 8,914,570 894,174 265,597 (Continued) 29 Schedule 2-2 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-All Special Revenue Funds,Continued Year ended June 30,1997 with comparative total figures for the year ended June 311,1996 Low-and Transportation Affordable Moderate- State Transit Development CDBC Police Housing Income Housing State Gas Tan Assistance Ad(Article 3) I.S.T.E.A. Entitlement Other Facilities Fee Totals Fund(221) Fund(232) Fund(240) Fund(241) Fund(242) Fund(244) Fund(245) Grants(246) Fund(402) 1990 1997 Revenues: Other taxes $ - - 533,676 - - - - 541,420 512,773 Budding and safety fees - - - - - - - - 21,955 324.749 471,493 Maintenance assessments - - - - 1,560,965 1,641,622 Subventions and grants - - - - 44,406 - 211,6211 98,196 - 1,169,1)26 1.251.1919 Planning and public works lees - - - - - - - 1,353,677 1,432,441 Park development lees - - - - - - - - - 320,334 40,289 Charges for current services - - - - - - - 72,414 467.791 Fines and forfeitures - - - 2,231) 46,982 Interest 29,731 58,336 74,954 3,157 4,445 - - - 29,319 933,747 1,014,654 Other - 122 7,349 _ - - - - 16,907 84,287 Total revenues 29,731 58,458 615,979 3,157 40,851 - 211,620 98,196 51,274 6,195,469 6,963,341 Expenditures: Current: General government 14.638 - 1,650 - - - 14,371 - - 37,313 11,602 Public services - 64,790 557,464 - 22,16% 3,134,40(1 3,303,516 Parks and recreation - 424 - - - - - 589,286 630,258 Capital outlay - - 43,167 - - - 9,612 - - 92,986 79,493 Total expenditures 14,638 65,214 602,281 - - - 46,151 - - 3,653,987 4,024,869 Excess(deficiency)of revenues over expenditures 15,093 (6,756) 13,698 3,157 48,851 - 165,469 98,196 _ 51,274 2,341,482 2,938,472 Other financing sources(uses): Operating transfers in - 214,820 109,002 - - - - 484,043 465,431 Operating transfers out - - (46,3521 - (175,081) (38,666) - (654,468) (2,931,8311 Proceeds from long-term advances from General Fund - 47,064 _ - - - - - - - 47,064 72,638 Total other financing sources(uses) - 251,884 62,650 - - - (175,0811 (38,666) - (123,361) (2.393,762) Excess(deficiency)01 revenues and other sources over expenditures and other uses 15,093 245,128 76,348 3,157 48,851 - (9,612) 59,530 51,274 2.218,121 544,710 Fund balances(deficits),July 1 581,990 2,572,478 1,424,820 59,749 44,660 - 9,612 - 540,919 18,123,960 17,579,250 Fund balances,June 30 $ 597,083 2,817,6(6 1,501,168 62,906 93,511 - - 59,531) 592,193 20,342,081 18,123,96(1 30 Schedule 3 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-Budget and Actual-All Special Revenue Funds Year ended June 30, 1998 Traffic Safety Fund(200) Traffic System Management Fund(201) Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments - - - 242,500 62,664 (179,836) Subventions and grants - - - - - - Planning and public works fees - - - - - Park development fees - - - - - - Charges for current services 40,000 41,375 1,375 - - - Fines and forfeitures 1,300 2,230 930 - - - Interest - - - 33,000 52,070 19,070 Other - - - - - - Total revenues 41,300 43,605 2,305 275,500 114,734 (160,766) Expenditures: Current: General government - 28 (28) - - - Public services 49,488 36,587 12,901 - - - Parks and recreation - - - - - - Capital outlay 16,250 12,028 4,222 - - - Total expenditures 65,738 48,643 17,095 - - - Excess(deficiency)of revenues over expenditures (24,438) (5,038) 19,400 275,500 114,734 (160,766) Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - - - (3,000) (1,570) 1,430 Proceeds from long-term advances from General Fund - - - - - - Total other financing sources(uses) - - - (3,000) (1,570) 1,430 Excess(deficiency)of revenues and other sources over expenditures and other uses (24,438) (5,038) 19,400 272,500 113,164 (159,336) Fund balances,July 1 58,348 58,348 - 945,146 945,146 - Fund balances(deficits),June 30 $ 33,910 53,310 19,400 1,217,646 1,058,310 (159,336) (Continued) 31 Schedule 3-2 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-Budget and Actual-All Special Revenue Funds Year ended June 30, 1998 Citywide Traffic Mitigation Fund(202) Local Transportation Streets Fund(203) Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments 75,000 87,328 12,328 - - - Subventions and grants - - - 499,032 499,032 - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - 15,065 15,065 Fines and forfeitures - - - - - - Interest 46,000 53,307 7,307 75,000 94,763 19,763 Other - - - - 470 470 Total revenues 121,000 140,635 19,635 574,032 609,330 35,298 Expenditures: Current: General government - - - - - - Public services 10,000 - 10,000 - - - Parks and recreation - - - - - - Capital outlay - - - - - - Total expenditures 10,000 - 10,000 - - - Excess(deficiency)of revenues over expenditures 111,000 140,635 29,635 574,032 609,330 35,298 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out (75,000) - 75,000 (625,000) (86,778) 538,222 Proceeds from long-term advances from General Fund - - - - - - Total other financing sources(uses) (75,000) - 75,000 (625,000) (86,778) 538,222 Excess(deficiency)of revenues and other sources over expenditures and other uses 36,000 140,635 104,635 (50,968) 522,552 573,520 Fund balances,July I 937,116 937,116 - 1,468,332 1,468,332 - Fund balances(deficits),June 30 $ 973,116 1,077,751 104,635 1,417,364 1,990,884 573,520 (Continued) 32 Schedule 3-3 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-Budget and Actual-All Special Revenue Funds Year ended June 30, 1998 Local Transportation Transit Fund(204) Crossing Guard Fund(205) Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Other taxes $ - - - - - Building and safety fees - - - - - - Maintenance assessments - - - - - - Subventions and grants 118,939 215,772 96,833 - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services 10,000 15,955 5,955 - - - Fines and forfeitures - - - - - - Interest 4,000 2,946 (1,054) 6,000 6,387 387 Other - - - - - - Total revenues 132,939 234,673 101,734 6,000 6,387 387 Expenditures: Current: General government - - - - - - Public services 168,854 138,704 30,150 9,620 12,196 (2,576) Parks and recreation - - - 4,009 (4,009) Capital outlay 127,000 - 127,000 - - - Total expenditures 295,854 138,704 157,150 9,620 16,205 (6,585) Excess(deficiency)of revenues over expenditures (162,915) 95,969 258,884 (3,620) (9,818) (6,198) Other financing sources(uses): Operating transfers in 96,000 1,504 (94,496) - - - Operating transfers out - - - - - - Proceeds from long-term advances from General Fund - - - - - - Total other financing sources(uses) 96,000 1,504 (94,496) - - - Excess(deficiency)of revenues and other sources over expenditures and other uses (66,915) 97,473 164,388 (3,620) (9,818) (6,198) Fund balances,July 1 - - - 124,204 124,204 - Fund balances(deficits),June 30 $ (66,915) 97,473 164,388 120,584 114,386 (6,198) (Continued) 33 Schedule 3-4 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-Budget and Actual-All Special Revenue Funds Year ended June 30, 1998 Assessment District Fund(210) Areas of Contribution Fund(211) Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments 1,226,124 1,186,506 (39,618) 243,214 175,290 (67,924) Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - 19 19 - - - Fines and forfeitures - - - - - - Interest 5,000 9,287 4,287 315,800 456,018 140,218 Other - - - - 7,101 7,101 Total revenues 1,231,124 1,195,812 (35,312) 559,014 638,409 79,395 Expenditures: Current: General government - - - - - - Public services 663,770 584,738 79,032 6,000 - 6,000 Parks and recreation 617,184 585,277 31,907 - - - Capital outlay 12,240 2,700 9,540 - - - Total expenditures 1,293,194 1,172,715 120,479 6,000 - 6,000 Excess(deficiency)of revenues over expenditures (62,070) 23,097 85,167 553,014 638,409 85,395 Other financing sources(uses): Operating transfers in 116,000 168,717 52,717 - - - Operating transfers out (5,000) - 5,000 (2,794,000) (300,936) 2,493,064 Proceeds from long-term advances from General Fund - - - - - - Total other financing sources(uses) 111,000 168,717 57,717 (2,794,000) (300,936) 2,493,064 Excess(deficiency)of revenues and other sources over expenditures and other uses 48,930 191,814 142,884 (2,240,986) 337,473 2,578,459 Fund balances,July I (40,185) (40,185) - 8,577,097 8,577,097 - Fund balances(deficits),June 30 $ 8,745 151,629 142,884 6,336,111 8,914,570 2,578,459 (Continued) 34 Schedule 3-5 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-Budget and Actual-All Special Revenue Funds Year ended June 30, 1998 Park Development Fund(212) Community Development Fund(220) Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Other taxes $ - - - 15,600 7,744 (7,856) Building and safety fees - - - 495,331 302,794 (192,537) Maintenance assessments 62,300 49,177 (13,123) - - - Subventions and grants - - - - - - Planning and public works fees - - - 1,226,042 1,353,677 127,635 Park development fees 142,200 320,334 178,134 - - - Charges for current services 231,675 - (231,675) - - - Fines and forfeitures - - - - - - Interest - 59,027 59,027 - - - Other - - - 500 1,865 1,365 Total revenues 436,175 428,538 (7,637) 1,737,473 1,666,080 (71,393) Expenditures: Current: General government - - - 6,950 6,626 324 Public services - - - 1,822,240 1,717,753 104,487 Parks and recreation - - - - - _ Capital outlay 17,225 16,653 572 28,452 8,404 20,048 Total expenditures 17,225 16,653 572 1,857,642 1,732,783 124,859 Excess(deficiency)of revenues over expenditures 418,950 411,885 (7,065) (120,169) (66,703) 53,466 Other financing sources(uses): Operating transfers in - - - 100,000 - (100,000) Operating transfers out (248,859) (5,085) 243,774 (36,850) - 36,850 Proceeds from long-term advances from General Fund - - - - - - Total other financing sources(uses) (248,859) (5,085) 243,774 63,150 - (63,150) Excess(deficiency)of revenues and other sources over expenditures and other uses 170,091 406,800 236,709 (57,019) (66,703) (9,684) Fund balances,July I 487,374 487,374 - 332,300 332,300 - Fund balances(deficits),June 30 $ 657,465 894,174 236,709 275,281 265,597 (9,684) (Continued) 35 Schedule 3-6 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-Budget and Actual-All Special Revenue Funds Year ended June 30, 1998 Affordable Housing Fund(221) Low-and Moderate-Income Housing Fund(232) 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 29,000 29,731 731 38,000 58,336 20,336 Other 22,644 - (22,644) - 122 122 Total revenues 51,644 29,731 (21,913) 38,000 58,458 20,458 Expenditures: Current: General government 186,136 14,638 171,498 - - - Public services - - - 673,703 64,790 608,913 Parks and recreation - - - - - - Capital outlay - - - 650 424 226 Total expenditures 186,136 14,638 171,498 674,353 65,214 609,139 Excess(deficiency)of revenues over expenditures (134,492) 15,093 149,585 (636,353) (6,756) 629,597 Other financing sources(uses): Operating transfers in - - - 371,837 204,820 (167,017) Operating transfers out - - - - - - Proceeds from long-term advances from General Fund - - - 79,183 47,064 (32,119) Total other financing sources(uses) - - - 451,020 251,884 (199,136) Excess(deficiency)of revenues and other sources over expenditures and other uses (134,492) 15,093 149,585 (185,333) 245,128 430,461 Fund balances,July I 581,990 581,990 - 2,572,478 2,572,478 - Fund balances(deficits),June 30 $ 447,498 597,083 149,585 2,387,145 2,817,606 430,461 (Continued) 36 Schedule 3-7 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-Budget and Actual-All Special Revenue Funds Year ended June 30, 1998 State Gas Tax Fund(240) State Transit Assistance Fund(241) Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Other taxes $ 532,000 533,676 1,676 - - - 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 75,000 74,954 (46) 5,000 3,157 (1,843) Other 3,000 7,349 4,349 - - - Total revenues 610,000 615,979 5,979 5,000 3,157 (1,843) Expenditures: Current: General government 1,650 1,650 - - - - Public services 634,418 557,464 76,954 - - - Parks and recreation - - - - - - Capital outlay 81,488 43,167 38,321 - - - Total expenditures 717,556 602,281 115,275 - - - Excess(deficiency)of revenues over expenditures (107,556) 13,698 121,254 5,000 3,157 (1,843) Other financing sources(uses): Operating transfers in 109,002 109,002 - - - - Operating transfers out (186,625) (46,352) 140,273 (30,000) - 30,000 Proceeds from long-term advances from General Fund - - - - - - Total other financing sources(uses) (77,623) 62,650 140,273 (30,000) - 30,000 Excess(deficiency)of revenues and other sources over expenditures and other uses (185,179) 76,348 261,527 (25,000) 3,157 28,157 Fund balances,July 1 1,424,820 1,424,820 - 59,749 59,749 - Fund balances(deficits),June 30 $ 1,239,641 1,501,168 261,527 34,749 62,906 28,157 (Continued) 37 Schedule 3-8 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)–Budget and Actual–All Special Revenue Funds Year ended June 30, 1998 Transportation Development Act(Article 3)Fund(242) I.S.T.E.A.Fund(244) Variance– Variance– favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Other taxes $ — — — — — — Building and safety fees — — — — — — Maintenance assessments — — — — — — Subventions and grants 44,000 44,406 406 860,000 — (860,000) Planning and public works fees — — — — — — Park development fees — — — — — — Charges for current services — — — — — — Fines and forfeitures — — — — — — Interest 2,000 4,445 2,445 — — — Other — — — — Total revenues 46,000 48,851 2,851 860,000 — (860,000) Expenditures: Current: General government — — — — — — Public services — — — — _ — Parks and recreation — — — — — — Capital outlay — — — — — — Total expenditures — — — — — — Excess(deficiency)of revenues over expenditures 46,000 48,851 2,851 860,000 — (860,000) Other financing sources(uses): Operating transfers in — — — — — — Operating transfers out (65,600) — 65,600 (860,000) — 860,000 Proceeds from long-term advances from General Fund — — — — — — Total other financing sources(uses) (65,600) — 65,600 (860,000) — 860,000 Excess(deficiency)of revenues and other sources over expenditures and other uses (19,600) 48,851 68,451 — — — Fund balances,July 1 44,660 44,660 — — — — Fund balances(deficits),June 30 $ 25,060 93,511 68,451 — — — (Continued) 38 Schedule 3-9 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-Budget and Actual-All Special Revenue Funds Year ended June 30, 1998 CDBG Entitlement Fund(245) Other Grants Fund(246) Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Other taxes $ - - - - Building and safety fees - - - - - - Maintenance assessments - - - - - - Subventions and grants 433,345 211,620 (221,725) 72,350 98,196 25,846 Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest - - - - - - Other - - - - - - Total revenues 433,345 _ 211,620 (221,725) 72,350 98,196 25,846 Expenditures: Current: General government - 14,371 (14,371) 33,684 - (33,684) Public services 28,864 22,168 6,696 - - - Parks and recreation - - - - - - Capital outlay 9,612 9,612 - - - - Total expenditures 38,476 46,151 (7,675) 33,684 - (33,684) Excess(deficiency)of revenues over expenditures 394,869 165,469 (229,400) 38,666 98,196 59,530 Other financing sources(uses): Operating transfers in - - - - Operating transfers out (404,481) (175,081) 229,400 (38,666) (38,666) - Proceeds from long-term advances from General Fund - - - - - - Total other financing sources(uses) (404,481) (175,081) 229,400 (38,666) (38,666) - Excess(deficiency)of revenues and other sources over expenditures and other uses (9,612) (9,612) - - 59,530 59,530 Fund balances,July 1 9,612 9,612 - - - - Fund balances(deficits),June 30 $ - - - - 59,530 59,530 (Continued) 39 Schedule 3-10 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-Budget and Actual-All Special Revenue Funds Year ended June 30, 1998 Police Facilities Fee Fund(402) Total Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Other taxes $ - --- - 547,600 541,420 (6,180) Building and safety fees 34,800 21,955 (12,845) 530,131 324,749 (205,382) Maintenance assessments - - - 1,849,138 1,560,965 (288,173) Subventions and grants - - - 2,027,666 1,069,026 (958,640) Planning and public works fees - - - 1,226,042 1,353,677 127,635 Park development fees - - - 142,200 320,334 178,134 Charges for current services - - - 281,675 72,414 (209,261) Fines and forfeitures - - - 1,300 2,230 930 Interest 19,000 29,319 10,319 652,800 933,747 280,947 Other - - - 26,144 16,907 (9,237) Total revenues 53,800 51,274 (2,526) 7,284,696 6,195,469 (1,089,227) Expenditures: Current: General government 15,000 - 15,000 243,420 37,313 206,107 Public services - - - 4,066,957 3,134,400 932,557 Parks and recreation - - - 617,184 589,286 27,898 Capital outlay 20,000 - 20,000 312,917 92,988 219,929 Total expenditures 35,000 - 35,000 5,240,478 3,853,987 1,386,491 Excess(deficiency)of revenues over expenditures 18,800 51,274 32,474 2,044,218 2,341,482 297,264 Other financing sources(uses): Operating transfers in - - - 792,839 484,043 (308,796) Operating transfers out - - - (5,373,081) (654,468) 4,718,613 Proceeds from long-term advances from General Fund - - - 79,183 47,064 (32,119) Total other financing sources(uses) - - - (4,501,059) (123,361) 4,377,698 Excess(deficiency)of revenues and other sources over expenditures and other uses 18,800 51,274 32,474 (2,456,841) 2,218,121 4,674,962 Fund balances,July I 540,919 540,919 - 18,123,960 18,123,960 - Fund balances(deficits),June 30 $ 559,719 592,193 32,474 15,667,119 20,342,081 4,674,962 40 CAPITAL PROJECTS FUNDS . Schedule 4 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet—All Capital Projects Funds June 30,1998 with comparative total figures at June 30, 1997 Equipment Capital City Hall Replacement Redevelopment Totals Assets Project Fund Building Fund Fund Agency Fund 1998 1997 Cash and investments $ 89.472 433.269 274.337 8.316/494 9.113`572 8,650,349 Accounts and interest receivable,net — 3,469 2,742 294.713 300.924 418,765 Taxes receivable — — — 8.182 8.182 5.797 Notes receivable — — — 3.833.464 3,833,464 3.934.500 Other assets — — — — -- 8,952 Total assets $ 89,472 436.738 277.079 12.452.853 13.250.142 13.018.363 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ 89,472 2,181 — 16,999 100.652 486,773 Deferred revenue — — — — — 8,468 Total liabilities 89,472 2.181 — 10.999 100.852 495.241 Fund balance : Reserved for encumbrances — 16.914 2,129 17.542 36,585 498,680 Reserved for prepaid expenditures — — — — -- 8/952 Reserved for receivables due after one year, net — — -- 3.921.280 3.921.286 4.015.400 Unreserved: Designated for business incentives — — — 2]].078 233,678 250.000 Designated for capital projects — — — 8,263,348 8,263,348 7.121.034 Undesignated — 417.643 274.950 — 692,593 629.056 Total fund balances — 434,557 277.079 12.435.854 13.147.490 13.523.122 Total liabilities and fund balances $ 89,472 436,738 277.079 12,452,853 13.250.142 13.018.363 See accompanying independent auditors' report. 41 Schedule 5 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances-All Capital Projects Funds Year ended June 30,1998 with comparative total figures for the year ended June 30, 1997 Equipment Capital City Hall Replacement Redevelopment Totals Project Fund Building Fund Fund Agency Fund 1998 1997 Revenues: Property taxes $ - - - 1,574,393 1,574,393 1,452,859 Maintenance assessments - - - 65,431 65,431 25,477 Charges for current services - - - 114,030 114,030 122,183 Interest - 20,140 19,233 431,630 471,003 556,347 Other _ - - - 21 21 11,270 Total revenues - 20,140 19,233 2,185,505 2,224,878 2,168,136 Expenditures: Public services 170,335 - - - 170,335 468,076 Current-general government 7,423 13,086 - 497,369 517,878 337,582 Capital outlay 467,673 - 34,706 374,598 876,977 3,224,392 Debt service-interest expense - - - 493,410 493,410 350,000 Total expenditures 645,431 13,086 34,706 1,365,377 2,058,600 4,380,050 Excess(deficiency)of revenues over expenditures (645,431) 7,054 (15,473) 820,128 166,278 (2,211,914) Other financing sources(uses): Operating transfers in 645,431 200,000 - - 845,431 3,176,939 Operating transfers out - - (109,001) (956,645) (1,065,646) (990,062) Proceeds from sale of City assets - - - - - 16,451 Proceeds from long-term advances from General Fund - - - 678,305 678,305 1,120,395 Total other financing sources(uses) 645,431 200,000 (109,001) (278,340) 458,090 3,323,723 Excess(deficiency)of revenues and other sources over expen- ditures and other uses - 207,054 (124,474) 541,788 624,368 1,111,809 Fund balances,July 1 - 227,503 401,553 11,894,066 12,523,122 11,411,313 Fund balances,June 30 $ - 434,557 277,079 12,435,854 13,147,490 12,523,122 See accompanying independent auditors' report. 42 Schedule 6 CITY OF MOORPARK, CALIFORNIA Statement of Revenues,Expenditures and Changes in Fund Balance–Budget and Actual Redevelopment Agency Capital Projects Fund Year ended June 30, 1998 Variance– favorable Budget Actual (unfavorable) Revenues: Property taxes $ 1,312,347 1,574,393 262,046 Maintenance assessments — 65,431 65,431 Charges for current services 107,424 114,030 6,606 Interest — 431,630 431,630 Other — 21 21 Total revenues 1,419,771 2,185,505 765,734 Expenditures: General government 442,532 497,369 (54,837) Capital outlay 145,608 374,598 (228,990) Debt service– interest expense 500,000 493,410 6,590 Total expenditures 1,088,140 1,365,377 (277,237) Excess (deficiency)of revenues over expenditures 331,631 820,128 488,497 Other financing sources (uses): Operating transfers out (1,104,286) (956,645) 147,641 Proceeds from long-term advances to Agency from City 431,382 678,305 246,923 Total other financing sources (uses) (672,904) (278,340) 394,564 Excess (deficiency) of revenues and other sources over expendi- tures and other uses (341,273) 541,788 883,061 Fund balance, July 1 11,894,066 11,894,066 — Fund balance, June 30 $ 11,552,793 12,435,854 883,061 See accompanying independent auditors' report. 43 AGENCY FUND Schedule 7 CITY OF MOORPARK, CALIFORNIA Statement of Changes in Assets and Liabilities—Agency Fund—Developer Deposit Fund Year ended June 30, 1998 Balance, Balance, Developer Deposit Fund (500) July 1, 1997 Additions Deletions June 30, 1998 Cash and investments $ 1,357,456 3,926,554 4,099,969 1,184,041 Accounts payable and accrued liabilities $ 115,473 893,777 834,564 174,686 Developer deposits 1,241,983 3,032,777 3,265,405 1,009,355 $ 1,357,456 3,926,554 4,099,969 1,184,041 See accompanying independent auditors' report. 44