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HomeMy WebLinkAboutACFR 1997 CITY OF MOORPARK,CALIFORNIA Annual Financial Report June 30, 1997 (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, 1997 and for the year then ended: Combined Balance Sheet—All Fund Types and Account Groups 2 Combined Statement of Revenues, Expenditures and Changes in Fund Balances— All Governmental Fund Types 3 Combined Statement of Revenues, Expenditures and Changes in Fund Balances—Budget and Actual —General, Special Revenue and Certain Capital Projects Funds 4 Notes to General Purpose Financial Statements 6 Supplementary Information — Combining Financial Statements as of June 30, 1997 and for the year then ended: Special Revenue Funds: Combining Balance Sheet 1 24 Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) 2 26 Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)— Budget and Actual 3 28 Capital Projects Funds: Combining Balance Sheet 4 3 7 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 5 3 8 Statement of Revenues, Expenditures and Changes in Fund Balance— Budget and Actual — Redevelopment Capital Projects Fund 6 3 9 Agency Funds: Statement of Changes in Assets and Liabilities 7 40 OM 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, 1997 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, 1997 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 28, 1997 on our consideration of the City's compliance and on internal control over financial reporting. 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. October 28, 1997 1111 Member Rrm t 1 KPMG Ir o»of nal GENERAL PURPOSE FINANCIAL STATEMENTS CITY OF MOORPARK,CALIFORNIA Combined Balance Sheet-All Fund Types and Account Groups June 30,1997 with comparative total figures at June 30,1996 Account Groups Governmental Fund Types Fiduciary General General Totals General Special Debt Service Capital Fund Types Fixed Long-Term (memorandum only) Assets and Other Debit, Fund Revenue Funds Fund Proiects Funds Agency Funds Assets Debt 1997 1996 Cash and investments(note 3) S 15,807 15,475,734 - 8,650,349 1,710,882 - - 25,852,772 23,860,512 Restricted cash and investments(note 3) - - 788,255 - - - - 788,255 1,586,146 Accounts and interest receivable,net(note 13) 351,906 2,335,854 - 418,765 - - - 3,106,525 3,255,686 Taxes receivable 65,966 - - 5,797 - - - 71,763 1,834 Notes receivable - - - 3,934,500 - - - 3,934,500 3,934,500 Due from other funds(note 8) 111,190 42,461 - - - 153,651 46,053 Long-term advance to Redevelopment Agency 6,303,202 - - - - - - 6,303,202 5,1 10,169 Other assets 114,275 - - 8,952 - - - 123,227 153,616 Land held for resale - 1,500,000 - - - - - 1,500,000 1,500,000 Property and equipment(note 7) - - - - - 20,501,143 - 20,501,143 20,256,323 Amount available for debt service - - - - - - 788,255 788,255 811,388 Amount to be provided for retirement of general long-term debt - - - - - - _ 15,042,894 15,042.894 13.888,781 ,Total assets and other debits S ___6,9„...513.,26..... 19,354,049 788,255 13,018,363 _Limn_ 20,501,143 15,831,149 78,166,187 74,405,008 Liabilities,Fund Balances and Other Credits Liabilities: Accounts payable and accrued liabilities S 1,045,823 596,957 - 486,773 115,473 - - 2,245,026 2,678,322 Compensated absences payable(note 4) - - - - 152,947 152,947 - Deposits,principally from developers - - - - 1,241,983 - - 1.241,983 711,010 Due to other funds(note 8) - 153,651 - - - - - 153,651 46,053 Deferred revenue 52,810 479,481 - 8,468 - - - 540,759 554,005 Due to participants(notes 3 and 9) - - - - 353,426 - - 353,426 196,643 Long-term advance from City General Fund(note 4) - - - - - - 6,303,202 6,303,202 5,110,169 Tax allocation bonds payable(note 4) - - - - - - 9,375,000 9,375,000 9,590.000 Total liabilities 1,098,633 1,230.089 - 495,241 1,710,882 - 15,831,149 20,365,994 18.886.202 Fund balances and other credits: Investment in general fixed assets - - - - - 20,501,143 - 20,501,143 20,256,323 Fund balances: Reserved AB939 activity 225,126 - - - - - - 225,126 - Reserved for unpaid grants 34,786 - - - - - - 34,786 - Reserved for encumbrances - 426,308 - 498,680 - - - 924,988 - Reserved for receivables due after one year,net 95,273 1,871,697 - 4,015,400 - - - 5,982,370 6,137,092 Reserved for land held for resale - 1,500,000 - - - - - 1,500,000 1,500,000 Reserved for prepaid expenditures 114,275 - - 8,952 - - - 123,227 153,616 Reserved for debt service - - 788,255 - - - - 788,255 811,388 Reserved for low/moderate income housing(note 5) - 974,583 - - - - - 974,583 822,547 Reserved for advances to Redevelopment Agency 6,303,202 - - - - - - 6,303,202 5,110,169 Unreserved' Designated(note 14) - - - 7,371,034 - - - 7,371,034 7,126,713 Undesignated (908,949) 13,351,372 - 629,056 - - - 13,071,479 13,600,958 Total fund balances and other credits 5,863,713 18,123,960 788,255 12,523,122 - 20,501,143 - 57,800,193 55,518,806 Commitments and contingencies(notes 6,10,12,15 and 16) Total liabilities,fund balances and other credits S 66 962 346346 19,354,049 788,255 13,018,363 1,710,882 20,501,143 15,831.149 78,166,187 74,405.008 See accompanying notes to general purpose financial statements. 2 CITY OF MOORPARK,CALIFORNIA Combined Statement of Revenues,Expenditures and Changes in Fund Balances-All Governmental Fund Types Year ended June 30,1997 with comparative total figures for the year ended June 30,1996 Governmental Fund Types Totals General Special Debt Service Capital (memorandum only) Fund Revenue Funds Fund Projects Funds 1997 1996 Revenues: Property taxes $ 1,320,195 - - 1,452,859 2,773,054 2,578,012 Sales taxes 1,353,619 - - - 1,353,619 1,168,277 Other taxes 43,086 512,773 - - 555,859 535,976 Motor vehicle license fees 1,129,512 - - - 1,129,512 1,053,854 Utility franchise fees 719,341 - - - 719,341 457,175 Building and safety fees - 471,493 - - 471,493 693,322 Maintenance assessments - 1,641,622 - 25,477 1,667,099 2,991,121 Subventions and grants 122,717 1,251,009 - - 1,373,726 1,021,458 Planning and public works fees - 1,432,441 - - 1,432,441 441,128 Park development fees - 40,289 - - 40,289 27,194 • Charges for current services 310,206 467,791 - 122,183 900,180 390,086 Fines and forfeitures 79,810 46,982 - - 126,792 127,986 Interest 389,498 1,014,654 23,663 556,347 1,984,162 2,320,057 Other 271,589 84,287 - 11,270 367,146 1,228,559 Total revenues 5,739,573 6,963,341 23,663 2,168,136 14,894,713 15,034,205 Expenditures: Current: General government 1,037,414 11,602 - 337,582 1,386,598 1,530,824 Public safety 2,807,382 - - - 2,807,382 2,618,063 Public services 188,721 3,303,516 - 468,076 3,960,313 2,533,477 Parks and recreation 705,771 630,258 - - 1,336,029 1,263,862 Capital outlay 148,230 79,493 - 3,224,392 3,452,115 5,740,932 Debt service: Principal retirement - - 215,000 - 215,000 1,026,852 Interest and fiscal charges - - 560,199 350,000 910,199 1,555,278 Total expenditures 4,887,518 4,024,869 775,199 4,380,050 14,067,636 16,269,288 • Excess(deficiency)of revenues over expenditures 852,055 2,938,472 (751,536) (2,211,914) 827,077 (1,235,083) - Other financing sources(uses): Operating transfers in(note 8) 28,300 465,431 728,403 3,176,939 4,399,073 1,084,246 Operating transfers out(note 8) (477,180) (2,931,831) - (990,062) (4,399,073) (1,084,246) Proceeds from sale of City property - - - 16,451 16,451 37,044 Proceeds from long-term advances from City General Fund - 72,638 - 1,120,395 1,193,033 1,610,169 Total other financing sources(uses) (448,880) (2,393,762) 728,403 3,323,723 1,209,484 1,647,213 Excess(deficiency)of revenues and other sources over expenditures and other uses 403,175 544,710 (23,133) 1,111,809 2,036,561 412,130 Fund balances,July 1 5,460,538 17,579,250 811,388 11,411,313 35,262,489 34,850,359 Fund balances,June 30 S 5,863,713 18,123,960 788,255 12,523,122 37,299,050 35,262,489 See accompanying notes to general purpose financial statements. 3 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 30,1997 General Fund Special Revenue Funds Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Property taxes S 1,231,850 1,320,195 88,345 - - - Sales taxes 1,177,500 1,353,619 176,119 - - - Other taxes 32,700 43,086 10,386 562,700 512,773 (49,927) Motor vehicle license fees 1,066,000 1,129,512 63,512 - - - Utility franchise fees 693,100 719,341 26,241 - - - Building and safety fees - - - 445,936 471,493 25,557 Maintenance assessments - - - 1,573,526 1,641,622 68,096 Subventions and grants 114,029 122,717 8,688 1,777,912 1,251,009 (526,903) Planning and public works fees - - - 1,028,187 1,432,441 404,254 Park development fees - - - 75,000 40,289 (34,711) Charges for current services 320,170 310,206 (9,964) 320,875 467,791 146,916 Fines and forfeitures 80,300 79,810 (490) 46,000 46,982 982 Interest 359,000 389,498 30,498 676,900 1,014,654 337,754 Other 118,570 271,589 153,019 69.226 84.287 15.061 Total revenues 5,193,219 5,739,573 546,354 6.576.262 6,963,341 387.079 Expenditures: Current: General government 1,076,507 1,037,414 39,093 175,000 11,602 163,398 Public safety 2,834,276 2,807,382 26,894 - - - Public services 234,937 188,721 46,216 3,328,125 3,303,516 24,609 Parks and recreation 813,095 705,771 107,324 600,149 630,258 (30,109) Capital outlay 353,518 148,230 205,288 644,586 79,493 565,093 Debt service: Principal retirement - - - - - - Interest expense - - - - Total expenditures 5.312,333 4,887,518 424.815 4,747,860 4,024,869 722.991 Excess(deficiency)of revenues over expenditures (119,114) 852,055 971,169 1,828,402 2,938,472 1,110,070 Other financing sources(uses): Operating transfers in(note 8) 28,300 28,300 - 460,601 - 465,431 4,830 Operating transfers out(note 8) (624,071) (477,180) 146,891 (8,211,864) (2,931,831) 5,280,033 Proceeds from sale of City property - - - - - - Proceeds from long-term advances from General Fund - - - 187,136 72,638 (114,498) Total other financing sources(uses) (595,771) (448.880) 146.891 (7,564,127) (2.393.762) 5,170,365 Excess(deficiency)of revenues and other sources over expenditures and other uses (714,885) 403,175 1,118,060 (5,735,725) 544,710 6,280,435 Fund balances,July 1 5.460.538 5,460,538 - 17,579,250 17,579.250 - Fund balances,June 30 $ 4,745,653 5,863,713 1,118,060 11,843,525 18,123,960 6,280,435 (Continued) 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,Continued Year ended June 30,1997 Certain Capital Projects Funds Totals(memorandum only) Variance- Variance- favorable favorable Budget Actual (unfavorable) Budget Actual (unfavorable) Revenues: Property taxes $ 1,495,900 1,452,859 (43,041) 2,727,750 2,773,054 45,304 Sales taxes - - - 1,177,500 1,353,619 176,119 Other taxes - - - 595,400 555,859 (39,541) Motor vehicle license fees - - - 1,066,000 1,129,512 63,512 Utility franchise fees - - - 693,100 719,341 26,241 Building and safety fees - - - 445,936 471,493 25,557 Maintenance assessments - 25,477 25,477 1,573,526 1,667,099 93,573 Subventions and grants - - - 1,891,941 1,373,726 (518,215) Planning and public works fees - - - 1,028,187 1,432,441 404,254 Park development fees - - - 75,000 40,289 (34,711) Charges for current services 72,400 105,051 32,651 713,445 883,048 169,603 Fines and forfeitures - - - 126,300 126,792 492 Interest 400,000 521,932 121,932 1,435,900 1,926,084 490,184 Other - 11,270 11,270 187,796 367,146 179,350 Total revenues 1,968,300 2,116,589 148,289 13,737,781 14,819.503 1,081,722 Expenditures: Current: General government 835,009 337,582 497,427 2,086,516 1,386,598 699,918 Public safety - - - 2,834,276 2,807,382 26,894 Public services - - - 3,563,062 3,492,237 70,825 Parks and recreation - - - 1,413,244 1,336,029 77,215 Capital outlay 1,507,550 727,787 779,763 2,505,654 955,510 1,550,144 Debt service: Principal retirement - - - - - - Interest expense 350,000 350,000 - 350,000 350,000 - Total expenditures 2,692,559 1,415,369 1,277,190 12,752,752 10,327,756 2,424,996 Excess(deficiency)of revenues over expenditures (724,259) 701,220 1,425,479 985,029 4,491,747 3,506,718 Other financing sources(uses): Operating transfers in(note 9) - - - 488,901 493,731 4,830 Operating transfers out(note 9) (942,947) (961,762) (18,815) (9,778,882) (4,370,773) 5,408,109 Proceeds from sale of City property - - - - - - Proceeds from long-term advances from General Fund 2,563,626 1,120.395 (1.443,231) 2,750,762 1,193,033 (1.557,729) Total other financing sources(uses) 1.620,679 158.633 (1.462,046) (6.539,219) (2.684,009) 3.855,210 Excess(deficiency)of revenues and other sources over expenditures and other uses 896,420 859,853 (36,567) (5,554,190) 1,807,738 7,361,928 Fund balances,July I 11,034,213 11,034,213 - 34,074,001 34,074,001 - Fund balances,June 30 $ 11,930,633 11,894,066 (36.567) 28,519,811 35,881,739 7,361,928 See accompanying notes to general purpose financial statements. 5 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements June 30, 1997 (1) Summary of Significant Accounting Policies The City of Moorpark (the City) accounts for its financial position and 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. 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 types, which include the General Fund, Special Revenue, Debt Service and Capital Projects Funds, 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 individuals, 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 Redevelopment Agency is included based on its financial interdependency, 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. 6 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 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. 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 $6,303,202 at June 30, 1997, 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. Property Taxes The duties of assessing and collecting property taxes are performed by the Ventura 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 .078% 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 project 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 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. 7 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued 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, 1997. 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 (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. 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. 8 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued (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 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 immaterial, are included in the budget amounts in the accompanying general purpose financial statements. Appropriations lapse at year-end. (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. 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 • Local Agency Investment Fund (State Pool) • 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 9 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued At June 30, 1997 and for the year ended, the City did not choose to utilize either repurchase agreements or reverse-repurchase agreements investment vehicles. The City's cash and investments at June 30, 1997 are as follows: Unrestricted cash and investments $ 25,852,772 Restricted cash and investments 788,255 $ 26,641,027 The cash and investments are aggregated as follows: Deposits $ 549,848 Investments 26,091,179 $ 26,641,027 The City's deposits at June 30, 1997 are categorized in the following table: Bank Carrying balance, amount, Description Category 1 Category 2 Category 3 June 30, 1997 June 30, 1997 Deposits held with banks $ 100,000 271,672 — 371,672 549,848 • 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. 10 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued The City's investments at June 30, 1997 are categorized in the following table: Not required Carrying Contract/ to be amount, market value, Description Category 1 Category 2 Category 3 categorized June 30, 1997 June 30, 1997 U.S. Government securities $ — — 7,279,327 — 7,279,327 7,240,666 Investments held in trust by fiscal agents on behalf of the City of Moorpark (restricted assets)– investment agreement — — 788,255 — 788,255 788,255 Money Market Fund — — — 4,678,406 4,678,406 4,678,406 State Treasurer's Local Agency Investment Fund — — — 12,991,765 12,991,765 12,991,765 Investments held in employee deferred compensation plan– mutual fund investments — — — 353,426 353,426 353,426 Total $ — — 8,067,582 18,023,597 26,091,179 26,052,518 • 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. Cash and Investments– Deferred Compensation Plan The City offers its employees two deferred compensation plans created in accordance with Internal Revenue Code Section 457. One plan is for full-time employees and one is for part-time employees. The market value of the plans' assets at June 30, 1997 was $353,426. (See note 9 for additional information about these plans.) 11 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, 1997: Balance, Balance, July 1, 1996 Additions Payments June 30, 1997 Employee compensated absences payable $ — 152,947 — 152,947 1993 Tax Allocation Bonds 9,590,000 — 215,000 9,375,000 Long-term advances from the General Fund 5,110,169 1,193,033 — 6,303,202 Total $ 14,700,169 1,345,980 215,000 15,831,149 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. 12 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, 1997 is $788,255. 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 1997-98 $ 225,000 550,294 775,294 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 Thereafter 8,125,000 4,914,162 13,039,162 Total $ 9,375,000 7,543,997 16,918,997 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, 1997 totaled $1,193,033 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 13 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued 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 $6,303,202 at June 30, 1997. (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 $974,583 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 contributes to the California Public Employees Retirement System (PERS), an agent multiple-employer public employee retirement system that acts as a common investment and administrative agent for participating public entities within the State of California. The City's total covered payroll for employees participating in PERS for the year ended June 30, 1997 was $1,738,866. The City's total payroll for the year ended June 30, 1997 was $1,835,443. All full-time City employees are eligible to participate in PERS. Benefits vest after five years of service. Employees who retire at or after age 50, with five years of credited service, are entitled to an annual retirement benefit, payable monthly for life, in an amount based on the average of the three highest years' salary that varies from 1.092% at age 50 to a maximum of 2.418% at age 63 and over for each year of credited service. PERS also provides death and survivor's benefits. These benefit provisions and all other requirements are established by state statute and City ordinance. Employee and Employer Contribution Obligations The City makes contributions for employees on their behalf. The rate is set by statute and therefore remains unchanged from year to year. The present rate is 6.04%. The City is required to contribute the remaining amounts necessary to fund the benefits for its members, using the actuarially determined contribution recommended by PERS actuaries and actuarial consultants and adopted by the PERS Board of Administration. 14 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued Funding Status and Progress The amount shown below as the "pension benefit obligation" is a standardized measure of the present value of pension benefits, adjusted for the effects of projected salary increases and step-rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help users assess the funding status of the system on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due and make comparisons among employers. The measure is the actuarial present value of credited projected benefits and is independent of the funding method used to determine contributions to PERS. The pension benefit obligation was computed as part of an actuarial valuation performed as of June 30, 1996. Significant actuarial assumptions used in the valuation include (a) a rate of return on the investment of present and future assets of 8.50% per year compounded annually, (b) projected salary increases of 4.50% per year compounded annually, attributable to inflation, (c) no additional projected salary increases, attributable to seniority/merit and (d) no postretirement benefit increases. Net assets in excess of the pension benefit obligation applicable to the City's employees at June 30, 1996, the date of the latest actuarial calculation, are as follows: Pension benefit obligation: Retirees and beneficiaries currently receiving benefits and terminated employees not yet receiving benefits $ 228,91 1 Current employees: Accumulated employee contributions, including allocated investment earnings 849,106 Employer-financed vested 396,139 Employer-financed nonvested 67,137 Total pension benefit obligation 1,541,293 Net assets available for benefits, at cost (market value is $2,322,457) 2,162,638 Net assets in excess of pension benefit obligation $ 621,345 • Contributions Required and Contributions Made PERS uses the entry-age-normal-actuarial-cost method. As a projected-benefit-cost method, it takes into account those benefits that are expected to be earned in the future as well as those already accrued. The normal cost for an employee is the level amount which would fund the projected benefit if it were paid annually from date of employment until retirement. PERS uses a modification of the entry-age-cost method in which the employer's total normal cost is expressed as a level percent of payroll. 15 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued The significant actuarial assumptions used to compute the actuarially determined contribution requirement are the same as those used to compute the pension benefit obligation. The City's contribution to PERS for 1997 of$212,820(including$121,761 contributed by the City on behalf of its employees) was made in accordance with actuarially determined requirements computed through an actuarial valuation performed as of June 30, 1996. Trend Information Trend inforniation gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. Until ten years of data are available,as many years as are available will be presented. Trend information for the City is available for the nine years ended June 30, 1997 and is summarized as follows: 1997 1996 1995 1994 1993 1992 1991 1990 1989 Net assets available for benefits $ N/A 2,162,638 1,706,106 1,387,348 966,878 732,480 530,168 358,597 223,956 Pension benefit obligation N/A 1,541,293 1,249,284 977,914 814,657 629,507 449,839 305,831 184,551 Net assets available for benefits as a percentage of pension benefit obligation N/A 140.31% 136.57% 141.87% 118.69% 116.36% 117.86% 117.25% 121.35% Net assets in excess of pension benefit obligation N/A 621,345 456,822 409,434 152,221 102,973 80,329 52,766 39,405 Covered payroll 1,738,866 1,667,269 1,574,053 1,499,972 1,291,589 1,092,390 982,762 750,267 591,750 Net assets in excess of pension benefit obligation as a percentage of covered payroll N/A 37.27% 29.02% 27.30% 11.79% 9.43% 8.17% 8.03% 6.66% Employer contribution as a percentage of covered payroll N/A 6.04% 6.04% 6.04% 6.29% 6.99% 7.78% 8.28% 6.44% N/A= Information is not available as of June 30, 1997. 16 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, 1997 follows: Balance, Balance, July 1, 1996 Additions Disposals June 30, 1997 Land $ 9,725,327 46,111 — 9,771,438 Buildings and structures 3,684,213 53 — 3,684,266 Improvements other than buildings 5,395,709 — — 5,395,709 Office furniture and equipment 835,272 129,036 25,172 939,136 Other equipment 615,802 94,792 — 710,594 $ 20,256,323 269,992 25,172 20,501,143 17 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued (8) Interfund Transactions A summary of operating transfers, interfund receivables/payables and residual equity transfers as of and for the year ended June 30, 1997 is included in the following table: Operating Operating Due from Due to transfers in transfers out other funds other funds General Fund $ 28,300 477,180 1 1 1,190 — Special Revenue Funds: State Gas Tax Fund — 163,938 — — Local Transportation 8A Fund — 224,491 — — Local Transportation Transit Fund 5,666 — — — I.S.T.E.A. Fund — 480,000 — — State Transit Assistance Fund — 77,000 — — TDA Article 3 Fund — 37,284 — — Traffic System Management Fund — 120,947 — — Park Improvements Fund 100,452 114,981 — 111,190 Community Development Fund 16,425 17,055 — — Low- and Moderate- Income Housing Fund 233,359 — — — Assessment District Fund 108,845 — — 42,461 Areas of Contribution 684 1,696,135 42,461 Capital Projects Funds: Capital Projects Fund 2,895,091 — — — Equipment Replacement Fund 281,848 28,300 — — Redevelopment Agency Fund — 961,762 — — Debt Service Fund 728,403 — — — $ 4,399,073 4,399,073 153,651 153,651 18 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. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the plan), subject only to the claims of the City's general creditors. Participants' rights under the plan are equal to those of general creditors of the City in an amount equal to the fair market value of the deferred account for each participant. The balance of the deferred compensation is $353,426 at June 30, 1997. It is the opinion of the City's Administration that the City has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. (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 $2,857,627 for the year ended June 30, 1997. 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. 19 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, 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% of the units of the project 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-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, 1997. 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, 1997. 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. Accordingly, these programs and the bonds issued thereunder have been excluded from the accompanying general purpose financial statements. (12) 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 claims,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 losses, and shares pro rata remaining losses from $500,000 to $1 million and general and administrative costs based on each 20 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued 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. A summary balance sheet and statement of operations and retained earnings of the Authority as of and for the year ended June 30, 1997 are as follows: Cash and investments $ 107,239,605 Member deposits receivable 13,395,547 Accrued interest receivable 1,098,329 Other assets 3,051,960 Total assets $ 124,785,441 Liabilities: Unearned member deposits $ 23,450,325 Accounts payable and accrued expenses 6,097,721 Claims payable 44,985,000 Total liabilities 74,533,046 Retained earnings, substantially reserved for future catastrophic losses 50,252,395 Total liabilities and retained earnings $ 124,785,441 Revenues: Member deposits earned $ 24,501,070 Interest income 5,804,372 Retrospective adjustments, net (2,952,555) Other 482,792 Total revenues 27,835,679 21 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued Costs and expenses: Incurred claims and other insurance costs $ 8,653,427 Contractual services 124,171 General and administrative expenses 1,51 1,107 Total costs and expenses 10,288,705 Net income 17,546,974 Retained earnings, July 1, 1996 32,705,421 Retained earnings, June 30, 1997 $ 50,252,395 (13) 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 $2,140,000 at June 30, 1997. 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, 1997, the notes were amended and the repayment terms changed as follows: the notes and accrued interest are due August 2029. 22 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued (14) Fund Balances The Redevelopment Agency has designated $7,121,034 of fund balance in the Redevelopment Agency Capital Projects Fund for future capital projects. (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. (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 proposition 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. (17) Subsequent Event — Bond Issuance 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. 23 SUPPLEMENTARY INFORMATION SPECIAL REVENUE FUNDS Schedule I CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds June 30,1997 with comparative total figures at June 30,1996 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(201) Fund(202) Fund(203) Fund(204) Fund(205) Fund(210) Fund(211) Fund(212) Fund(220) Cash and investments S 43,322 936,437 929,285 1,554,420 80,137 123,107 150,036 6,884,027 593,184 617,763 Restricted cash and investments - - - - - - - - - - Accounts and interest receivable,net 15,189 128,577 7,831 11,412 1,080 1,097 27,498 1,888,795 8,438 18,423 Due from other funds - - - - - - - 42,461 - - Land held for resale - - - - - - - - - - Total assets S 58,511 _ 1065,014 937,116 1,565,832 81,217 124,204 . _ 177,534 a 8,815,283 601,622 636,186 Liabilities and Fund Balances Liabilities- Accounts payable and accrued liabilities S 163 - - - 10,256 - 175,258 49,835 257 303,886 Due to other funds - - - - - - 42,461 - 111,190 - Deferred revenue - 119,868 - 97,500 70,961 - - 188,351 2,801 - Total liabilities 163 119,868 - 97,500 81,217 - 217,719 238,186 114,248 303,886 Fund balances: Reserved for encumbrances - 1,000 - 123,501 - - 5,727 252,753 - 3,503 Reserved for receivables due after one year - - - - - - - 1,698,252 - - Reserved for low/moderate income housing - - - - - - - - - - Reserved for land held for resale - - - - - - - - Unreserved. Designated - - - - - - - Undesignated 58,348 944,146 937,116 1,344,831 124,204 (45,912) 6,626,092 487,374 328,797 Total fund balances(deficits) 58,348 945,146 937,116 1,468,332 - 124,204 (40,185) 8,577,097 487,374 332,300 Total liabilities and fund balances S 58,511 1,065,014 937116 1,565,832 81,217 124,204 177.534 8.815,283 601 622 636.186 (Continued) 24 Schedule 1-2 CITY OF MOORPAR.K,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds,Continued June 30,1997 with comparative total figures at June 30,1996 Low-and Transportation Affordable Moderate- State Transit Development CDBG Police Housing Income Housing State Gas Tax Assistance Act(Article 3) I.S.T.E.A. Entitlement Facilities Fee Totals Assets Fund(221) Fund(232) Fund(240) Fund(241) Fund(242) Fund(244) Fund(245) Fund(402) 1997 1996 Cash and investments S 502,302 971,130 1,445,224 59,156 44,036 - 5,729 536,439 15,475,734 14,752,629 Restricted cash and investments - - - - - - - - - 774,818 Accounts and interest receivable,net 79,704 102,899 20,481 593 624 - 18,733 4,480 2,335,854 2,758,826 Due from other funds - - - - - - 42,461 - Land held for resale - 1,500,000 - - - - - - 1,500,000 1,500,000 Total assets S 582,006 2,574,029 1,465,705 59,749 44,660 - 24,462 540,919 19,354049 19,786,273 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities S 16 1,551 40,885 - - - 14,850 - 596,957 1,666,588 Due to other funds - - - - - - 153,651 46,053 Deferred revenue - - - - - - 479,481 494,383 Total liabilities 16 1,551 40,885 - - - 14,850 - 1,230,089 2,207,024 Fund balances: Reserved for encumbrances - - 39,824 - - - 426,308 - Reserved for receivables due after one year 75,550 97,895 - - - - 1,871,697 2,036,828 Reserved for low/moderate income housing - 974,583 - - - - - - 974,583 822,547 Reserved for land held for resale - 1,500,000 - - - - 1,500,000 1,500,000 Unreserved. Designated - - - - - - - - - 27,000 Undesignated 506,440 - 1,384,996 59,749 44,660 - 9,612 540,919 13,351,372 13,192,874 Total fund balances(deficits) 581,990 2,572,478 1,424,820 59,749 44,660 - 9,612 540,919 18,123,960 17,579,249 Total liabilities and fund balances S 582,006 2,574,029 1,465,705 59,749 44.660 - 24,462 540,919 19 754,049 19,786,273 See accompanying independent auditors'report. 25 Schedule 2 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-All Special Revenue Funds Year ended June 30,1997 with comparative total figures for the year ended June 30,1996 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(200) Fund(201) Fund(202) Fund(203) Fund(200) Fund(205) Fund(210) _Fund(211). Fund(212) Fund(220) Revenues. Other taxes S - - - - - - - - - - Building and safety fees - - - - - - - - - 454,537 Maintenance assessments - 363,792 33,000 - - 24,688 930,166 269,739 20.237 - Subventions and grants - - - 547,094 117,475 - - - - - Planning and public works fees - - - - - - - - - 1,432,441 Park development fees - - - - - - - - 40.289 - Charges for current services - - - - 11834 - 18 432,664 22275 - Fines and forfeitures 43,982 - - - - - - - - 3,000 Interest 2,181 55,581 49,980 72,829 3,962 7,002 7,395 586,216 35.991 - Other - - - - - - 58,569 (1,614) 1,132 _ _4,958 Total revenues 46,163 419,373 81980 619,923 134,271 31,690 996,148 1,287,005 119,924 1,894,936 Expenditures: Current: General government - - - - - - - - - - Public safety - - - - - - - - - - Public services 25,916 - - - 133,003 9,314 625,930 68,969 - 1,767.092 Parks and recreation - - - - - - 592.719 - 37,539 - Capital outlay - - - - 6,934 - 25,063 - 13,505 9,041 Total expenditures 25,916 - - - 139,937 9,314 1,243,712 68,969 51,044 1,776,133 Excess(deficiency)of revenues over expenditures 20,247 419,373 82,980 619,923 (5,666) 22,376 (247,564) 1,218,036 68,880 118,803 Other financing sources(uses): Operating transfers in - - - - 5,666 - 108,845 684 100.452 16,425 Operating transfers out - (120,947) - (224,491) - - - (1,696,135) (114,981) (17,055) Proceeds from long-term advances from General Fund - - - - - - - - - - Proceeds from sale of City property - - - - - - - - - - Total other financing sources(uses) - (120,947) - (224,491) 5,666 - 108,845 (1,695,451) (14,529) (630) Excess(deficiency)of revenues and other sources over expenditures and other uses 20,247 298,426 82,980 395,432 - 22,376 (138,719) (477,415) 54,351 118,173 Fund balances,July I 38,101 646,720 854,136 1,072,900 - 101,828 98,534 9,054,512 433,023 214,127 Fund balances(deficits),June 30 S 58,348 945,146 937,116 1,468,332_ - 124,204 (40,185) 8.577,097 487,374 332,300 (Continued) 26 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 lune 30,1997 with comparative total figures for the year ended June 30,1996 Low-and Transportation Affordable Moderate- State Transit Development CDBG Police Housing Income Housing State Cu Tax Assistance Act(Article 3) I.S.T.E.A. Entitlement Facilities Fee Totals Fund(221) Fund(232) Fund(240) Fund(241) Fund(242) Fund(244) Fund(245) Fund(402) 1997 1996 Revenues: Other taxes S - - 512,773 - - - - - 512,773 500,603 Building and safety fees - - - - - 16,956 471,493 693,322 Maintenance assessments - - - - - - - - 1,641,622 2,963,124 Subventions and grants - - - - 54,000 480,000 52,440 - 1,251,009 873,618 Planning and public works fees - - - - - - - - 1,432.441 441,128 Park development fees - - - - - - - - 40,289 27,194 Charges for current services - - - - - - 467,791 31,058 Fines and forfeitures - - - - - - - - 46,982 40,406 Interest 33,380 44,010 79,767 3,787 3,984 - - 28,589 1,014,654 844,715 Other 7,548 - 13,694 - - - - - 84,287 903,054 Total revenues 40,928 44,010 606,234 3,787 57,984 480,000 52,440 45,545 6,963,341 7,318,222 Expenditures: Current: General government 260 - - - - - 11,342 - 11602 14,299 Public services - 100,076 532,118 - - - 41,098 - 3,303,516 2,310,046 Parks and recreation - - - - - 630,258 554,081 Capital outlay - - 24,950 - - - - - 79.493 4,413,526 Total expenditures 260 100,076 _ 557,068 - - - 52,440 - 4,024,869 7,291,952 Excess(deficiency)of revenues over expenditures 40,668 (56,066) 49,166 3,787 57,984 480,000 - 45,545 2,938,472 26,270 Other financing sources(uses). Operating transfers in - 233,359 - - - - - - 465,431 323,222 Operating transfers out - - (163,938) (77,000) (37,284) (480,000) - - (2,931,831) (22,997) Proceeds from long-term advances from General Fund - - - - - - - - - 43,500 Advances from City - - 72,638 - - - - - - 72,638 - Total other financing sources(uses) - 305,997 (163,938) (77,000) (37,284) (480,000) - - (2,393,762) 343,725 Excess(deficiency)of revenues and other sources over expenditures and other uses 40,668 249,931 (114,772) (73,213) 20,700 - - 45,545 544,710 369,995 Fund balances,July 1 541,322 2,322,547 1,539,592 132,962 23,960 - 9,612 495,374 17,579,250 17,209,255 Fund balances(deficits),June 30 S 581,990 2,572,478 1,424,820 59,749 44:660 - 9,612 � 18960 17,57%250 27 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 30,1997 Traffic Safety Fund(200) Traffic System Management Fund(201) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments - - - 322,300 363,792 41,492 Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures 46,000 43,982 (2,018) Interest 1,000 2,181 1,181 35,000 55,581 20,581 Other - - - - - - Total revenues 47,000 46,163 (837) 357,300 419,373 62,073 Expenditures: Current: General government - - - - - - Public services 35,418 25,916 9,502 - - - Parks and recreation - - - - - - Capital outlay - - 130,000 - 130,000 Total expenditures 35,418 25,916 9,502 130,000 - 130,000 Excess(deficiency)of revenues over expenditures 11,582 20,247 8,665 227,300 419,373 192,073 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - - - (10,800) (120,947) (110,147) Proceeds from long-tenn advances from General Fund - - - - - - Advances from City - - - - - - Total other financing sources(uses) - - - (10,800) (120,947) (110,147) Excess(deficiency)of revenues and other sources over expenditures and other uses 11,582 20,247 8,665 216,500 298,426 81,926 Fund balances,July I 38,101 38,101 - 646,720 646,720 - Fund balances(deficits),June 30 $ 49,683 58,348 8,665 863,220 945,146 81,926 (Continued) 28 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, 1997 Citywide Traffic Mitigation Fund(202) Local Transportation Streets Fund(203) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments 150,000 33,000 (117,000) - - - Subventions and grants - - - 522,745 547,094 24,349 Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest 42,000 49,980 7,980 50,000 72,829 22,829 Other - - - - - - Total revenues 192,000 82,980 (109,020) 572,745 619,923 47,178 • Expenditures: Current: General government - - - - - - Public services 5,000 - 5,000 - - - Parks and recreation - - - - - - Capital outlay - - - 60,000 - 60,000 Total expenditures 5,000 - 5,000 60,000 - 60,000 Excess(deficiency)of revenues over expenditures 187,000 82,980 (104,020) 512,745 619,923 107,178 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - - - (1,660,000) (224,491) 1,435,509 Proceeds from long-term advances from General Fund - - - - - - Advances from City - - - - - - Total other financing sources(uses) - - - (1,660,000) (224,491) 1,435,509 Excess(deficiency)of revenues and other sources over expenditures and other uses 187,000 82,980 (104,020) (1,147,255) 395,432 1,542,687 Fund balances,July 1 854,136 854,136 - 1,072,900 1,072,900 - Fund balances(deficits),June 30 $ 1,041,136 937,116 (104,020) (74,355) ' 1,468,332 1,542,687 (Continued) 29 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, 1997 Local Transportation Transit Fund(204) Crossing Guard Fund(205) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments - - - - 24,688 24,688 Subventions and grants 149,971 117,475 (32,496) - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services 10,000 12,834 2,834 - - - Fines and forfeitures - - - - - - ' Interest 1,200 3,962 2,762 5,200 7,002 1,802 Other - - - - - - Total revenues 161,171 134,271 (26,900) 5,200 31,690 26,490 Expenditures: Current: General government - - - - - - Public services 152,166 133,003 19,163 11,808 9,314 2,494 Parks and recreation - - - - - - Capital outlay 7,700 6,934 766 - - - Total expenditures 159,866 _ 139,937 19,929 11,808 9,314 2,494 Excess(deficiency)of revenues over expenditures 1,305 (5,666) (6,971) (6,608) 22,376 28,984 Other financing sources(uses): Operating transfers in 2,500 5,666 3,166 - - - Operating transfers out - - - - - - Proceeds from long-term advances from General Fund - - - - - - Advances from City - - - - - - Total other fmancing sources(uses) 2,500 5,666 3,166 - - - Excess(deficiency)of revenues and other sources over expenditures and other uses 3,805 - (3,805) (6,608) 22,376 28,984 Fund balances,July 1 - - - 101,828 101,828 - Fund balances(deficits),June 30 $ 3,805 - (3,805) 95,220 124,204 28,984 (Continued) 30 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, 1997 Assessment District Fund(210) Areas of Contribution Fund(211) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments 932,441 930,166 (2,275) 150,785 269,739 118,954 Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - 18 18 300,000 432,664 132,664 ' Fines and forfeitures - - - - - - Interest - 7,395 7,395 309,400 586,216 276,816 Other 25,372 58,569 33,197 - (1,614) (1,614) Total revenues 957,813 996,148 38,335 760,185 1,287,005 526,820 Expenditures: Current: General government - - - - - - Public services 639,491 625,930 13,561 6,000 68,969 (62,969) Parks and recreation 576,352 592,719 (16,367) - - - Capital outlay 29,077 25,063 4,014 - - - Total expenditures 1,244,920 1,243,712 1,208 6000 68,969 (62,969) Excess(deficiency)of revenues over expenditures (287,107) (247,564) 39,543 754,185 1,218,036 463,851 Other financing sources(uses): Operating transfers in 136,511 108,845 (27,666) - 684 684 Operating transfers out - - - (5,366,007) (1,696,135) 3,669,872 Proceeds from long-term advances from General Fund - - - - - - Advances from City - - - - - - Total other financing sources(uses) 136,511 108,845 (27,666) (5,366,007) (1,695,451) 3,670,556 Excess(deficiency)of revenues and other sources over expenditures and other uses (150,596) (138,719) 11,877 (4,611,822) (477,415) 4,134,407 Fund balances,July 1 98,534 98,534 - 9,054,512 9,054,512 - Fund balances(deficits),June 30 $ (52,062) (40,185) 11,877 4,442,690 8,577,097 4,134,407 (Continued) 31 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, 1997 Park Development Fund(212) Community Development Fund(220) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - 2,700 - (2,700) Building and safety fees - - - 416,493 454,537 38,044 Maintenance assessments 18,000 20,237 2,237 - - - Subventions and grants - - - - - - Planning and public works fees - - - 1,028,187 1,432,441 404,254 Park development fees 75,000 40,289 (34,711) - - - Charges for current services 10,875 22,275 11,400 - - - Fines and forfeitures - - - - 3,000 3,000 Interest 20,000 35,991 15,991 - - - Other 8,126 1,132 (6,994) 14,632 4,958 (9,674) Total revenues 132,001 119,924 (12,077) 1,462,012 1,894,936 432,924 Expenditures: Current: General government - - - - - - Public services - - - 1,465,455 1,767,092 (301,637) Parks and recreation 23,797 37,539 (13,742) - - - Capital outlay 146,633 13,505 133,128 41,164 - 9,041 32,123 Total expenditures 170,430 51,044 119,386 1,506,619 1,776,133 (269,514) Excess(deficiency)of revenues over expenditures (38,429) 68,880 107,309 (44,607) 118,803 163,410 Other financing sources(uses): Operating transfers in 100,452 100,452 - 16,425 16,425 - Operating transfers out (6,200) (114,981) (108,781) (17,055) (17,055) - Proceeds from long-term advances from General Fund - - - - - - Advances from City - - - - - - Total other financing sources(uses) 94,252 (14,529) (108,781) (630) (630) - Excess(deficiency)of revenues and other sources over expenditures and other uses 55,823 54,351 (1,472) (45,237) 118,173 163,410 Fund balances,July 1 433,023 433,023 - 214,127 214,127 - Fund balances(deficits),June 30 $ 488,846 487,374 (1,472) 168,890 332,300 163,410 (Continued) 32 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 30,1997 Affordable Housing Fund(221) Low-and Moderate-Income Housing Fund(232) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (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 25,000 33,380 8,380 130,000 44,010 (85,990) Other 15,096 7,548 (7,548) - - - Total revenues 40,096 40,928 832 130,000 44,010 (85,990) Expenditures: Current: General government 160,000 260 159,740 - - - Public services - - - 355,000 100,076 254,924 Parks and recreation - - - - - - Capital outlay - - - - - - Total expenditures 160,000 260 159,740 355,000 100,076 254,924 Excess(deficiency)of revenues over expenditures (119,904) 40,668 160,572 (225,000) (56066) 168,934 Other financing sources(uses): Operating transfers in - - - 204,713 233,359 28,646 Operating transfers out - - - - - - Proceeds from long-term advances from General Fund - - - - - - Advances from City - - - 187,136 72,638 (114,498) Total other financing sources(uses) - - 391,849 305,997 (85,852) Excess(deficiency)of revenues and other sources over expenditures and other uses (119,904) 40,668 160,572 166,849 249,931 83,082 Fund balances,July 1 541,322 541,322 - 2,322,547 2,322,547 - Fund balances(deficits),June 30 $ 421,418 581,990 160,572 2,489,396 2,572,478 83,082 (Continued) 33 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, 1997 State Gas Tax Fund(240) State Transit Assistance Fund(241) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ 560,000 512,773 (47,227) - - - 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 79,767 49,767 7,000 3,787 (3,213) Other 6,000 13,694 7,694 - - - Total revenues 596,000 606,234 10,234 7,000 3,787 (3,213) Expenditures: Current: General government - - - - - - Public services 618,887 532,118 86,769 - - - Parks and recreation - - - - - - Capital outlay 125,716 24,950 100,766 - - - Total expenditures 744,603 557,068 187,535 - - - Excess(deficiency)of revenues over expenditures (148,603) 49,166 197,769 7,000 3,787 (3,213) Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out (155,002) (163,938) (8,936) (76,800) (77,000) (200) Proceeds from long-term advances from General Fund - - - - - - Advances from City - - - - - - Total other financing ' sources(uses) (155,002) (163,938) (8,936) (76,800) (77,000) (200) Excess(deficiency)of revenues and other sources over expenditures and other uses (303,605) (114,772) 188,833 (69,800) (73,213) (3,413) Fund balances,July 1 1,539,592 1,539,592 - 132,962 132,962 - Fund balances(deficits),June 30 $ 1,235,987 1,424,820 188,833 63,162 59,749 (3,413) • (Continued) 34 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 30,1997 Transportation Development Act(Article 3)Fund(242) I.S.T.E.A.Fund(244) Actual Variance– Actual Variance– (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ — — — — — — Building and safety fees — — — — — — Maintenance assessments — — — — — — Subventions and grants 81,000 54,000 (27,000) 555,000 480,000 (75,000) Planning and public works fees — — — — — — Park development fees — — — — — — Charges for current services — — — — — — Fines and forfeitures — — — — — — Interest 1,100 3,984 2,884 — — — Other — — — — — — Total revenues 82,100 57,984 (24,116) 555,000 480,000 (75,000) Expenditures: Current: General government — — — — — — Public services — — — — — — Parks and recreation — — — — — — Capital outlay — — — — — — Total expenditures — — — — — — Excess(deficiency)of revenues over expenditures 82,100 57,984 (24,116) 555,000 480,000 (75,000) Other financing sources(uses): Operating transfers in — — — — — — Operating transfers out (54,000) (37,284) 16,716 (555,000) (480,000) 75,000 Proceeds from long-term advances from General Fund — — — — — — Advances from City — — — — — — Total other financing sources(uses) (54,000) (37,284) 16,716 (555,000) (480,000) 75,000 Excess(deficiency)of revenues and other sources over expenditures and other uses 28,100 20,700 (7,400) — — — Fund balances,July 1 23,960 23,960 — — — — Fund balances(deficits),June 30 $ 52,060 44,660 (7,400) — — — (Continued) 35 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 30,1997 CDBG Entitlement Fund(245) Police Facilities Fee Fund(402) Total Actual Variance- Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Othertaxes S - - - - - - 562.700 512,773 (49.927) Building and safety fees - - - 29,443 16,956 (12.487) 445.936 471,493 25,557 Maintenance assessments - - - - - - 1.573.526 1.641.622 68.096 Subventions and grants 469,196 52,440 (416.756) - - - 1.777,912 1,251.009 (526.903) Planning and public works fees - - - - - - 1.028,187 1,432,441 404.254 Park development fees - - - - - - 75,000 40,289 (34,711) Charges for current services - - - - - - 320,875 467.791 146,916 Fines and forfeitures - - - - - - 46,000 46,982 982 Interest - - - 20,000 28,589 8,589 676,900 1,014,654 337.754 Other - - - - - - 69,226 84,287 15,061 Total revenues 469.196 52,440 (416,756) 49.443 45,545 (3,898) 6,576,262 6,963,341 387,079 Expenditures: Current: General government 15,000 11,342 3,658 - - - 175,000 11,602 163,398 Public services 38.900 41,098 (2,198) - - - 3.328,125 3.303.516 24,609 Parks and recreation - - - - - - 600,149 630.258 (30,109) Capital outlay 104,296 - 104,296 - - 644,586 79,493 565,093 Total expenditures 158,196 52,440 105,756 - - - 4,747,860 4.024,869 722.991 Excess(deficiency)of revenues over expenditures 311,000 - (311,000) 49.443 45.545 (3.898) 1,828,402 2338,472 1,110,070 Other financing sources(uses): Operating transfers in - - - - - - 460,601 465.431 4,830 Operating transfers out (311,000) - 311,000 - - - (8,211,864) (2.931.831) 5,280,033 Proceeds from long-term advances - from General Fund - - - - - - - - - Advances from City - _ - - - - - 187,136 72,638 (114,498) Total other financing sources(uses) (311,000) - 311,000 - - - (7.564,127) (2,393,762) 5,170,365 Excess(deficiency)of revenues and other sources over expenditures and other uses - - - 49,443 45,545 (3,898) (5.735,725) 544.710 6,280,435 Fund balances,July 1 9,612 9.612 - 495,374 495,374 - 17.579,250 17,579,250 - Fund balances(deficits),June 30 S 9,612 9,612 - 544,817 540,919 (3.898) 11,843,525 18.123,960 6,280.435 36 CAPITAL PROJECTS FUNDS Schedule 4 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Capital Projects Funds June 30, 1997 with comparative total figures at June 30, 1996 Equipment Capital City Hall Replacement Redevelopment Totals Assets Project Fund Building Fund Fund Agency Fund 1997 1996 Cash and investments $ 473,158 225,602 400,181 7,551,408 8,650,349 7,436,698 Accounts and interest receivable,net - 1,901 3,492 413,372 418,765 105,782 Taxes receivable - - - 5,797 5,797 1,834 Notes receivable - - - 3,934,500 3,934,500 3,934,500 Other assets - - - 8,952 8,952 - Total assets $ 473,158 227,503 403,673 11,914,029 13,018,363 11,478,814 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ 473,158 - 2,120 11,495 486,773 50,799 Deferred revenue - - - 8,468 8,468 16,702 Total iiabilities 473,158 - 2,120 19,963 495,241 67,501 Fund balances: Reserved for encumbrances - - - 498,680 498,680 - Reserved for prepaid expenditures - - - 8,952 8,952 - Reserved for receivables due after one year, net - - - 4,015,400 4,015,400 3,934,500 Unreserved: Designated for business incentives - - - 250,000 250,000 - Designated for capital projects - - - 7,121,034 7,121,034 7,099,713 Undesignated - 227,503 401,553 _ - 629,056 377,100 Total fund balances - 227,503 401,553 11,894,066 12,523,122 11,411,313 Total liabilities and fund balances $ 473,158 227,503 403,673 11,914,029 13,018,363 11,478,814 See accompanying independent auditors'report. 37 Schedule 5 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances-All Capital Projects Funds Year ended June 30, 1997 with comparative total figures for the year ended June 30, 1996 - Equipment Capital City Hall Replacement Redevelopment Totals Project Fund Building Fund Fund Agency Fund 1997 1996 Revenues: Property taxes $ - - - 1,452,859 1,452,859 1,334,979 Maintenance assessments - - - 25,477 25,477 27,997 Charges for current services - - 17,132 105,051 122,183 95,166 Interest - 12,133 22,282 521,932 556,347 427,925 Other - - - 11,270 11,270 - Total revenues - 12,133 39,414 2,116,589 2,168,136 1,886,067 Expenditures: Public services 468,076 - - - 468,076 - Current-general government - - - 337,582 337,582 453,835 Capital outlay 2,427,015 - 69,590 727,787 3,224,392 1,206,547 Debt service: Principal retirement - - - - - 816,852 Interest expense - - - 350,000 350,000 986,044 Total expenditures 2,895,091 - 69,590 1,415,369 4,380,050 3,463,278 Excess(deficiency)of revenues over expenditures (2,895,091) 12,133 (30,176) 701,220 (2,211,914) (1,577,211) Other financing sources(uses): Operating transfers in 2,895,091 - 281,848 - 3,176,939 - Operating transfers out - - (28,300) (961,762) (990,062) (907,261) Sale of agency assets - - - - - 37,044 Proceeds from sale of City assets - - 16,451 - 16,451 - Proceeds from long-term advances from General Fund - - - 1,120,395 1,120,395 1,566,669 Total other financing sources(uses) 2,895,091 - 269,999 158,633 3,323,723 696,452 Excess(deficiency)of revenues and other sources over expen- ditures and other uses - 12,133 239,823 859,853 1,111,809 (880,759) Fund balances,July 1 - 215,370 161,730 11,034,213 11,411,313 12,292,072 Fund balances,June 30 $ - 227,503 401,553 11,894,066 12,523,122 11,411,313 See accompanying independent auditors'report. 38 Schedule 6 CITY OF MOORPARK, CALIFORNIA Statement of Revenues, Expenditures and Changes in Fund Balance–Budget and Actual Redevelopment Capital Projects Fund Year ended June 30, 1997 Actual Variance– (budgetary favorable Budget basis) (unfavorable) Revenues: Property taxes $ 1,495,900 1,452,859 (43,041) Maintenance assessments — 25,477 25,477 Charges for current services 72,400 105,051 32,651 Interest 400,000 521,932 121,932 Other — 11,270 11,270 Total revenues 1,968,300 2,116,589 148,289 Expenditures: General government 835,009 337,582 497,427 Capital outlay 1,507,550 727,787 779,763 Debt service: Principal retirement — — — Interest expense 350,000 _ 350,000 — Total expenditures 2,692,559 1,415,369 1,277,190 Excess(deficiency)of revenues over expenditures (724,259) 701,220 1,425,479 Other financing sources(uses): Operating transfers out (942,947) (961,762) (18,815) Proceeds from long-term advances to Agency from City 2,563,626 1,120,395 (1,443,231) Total other financing sources(uses) 1,620,679 158,633 (1,462,046) Excess(deficiency)of revenues and other sources over expendi- tures and other uses 896,420 859,853 (36,567) Fund balance,July 1 11,034,213 11,034,213 — Fund balance, June 30 $ 11,930,633 11,894,066 (36,567) See accompanying independent auditors' report. 39 AGENCY FUNDS Schedule 7 CITY OF MOORPARK, CALIFORNIA Statement of Changes in Assets and Liabilities—All Agency Funds Year ended June 30, 1997 Balance, Balance, Developer Deposit Fund (500) July 1, 1996 Additions Deletions June 30, 1997 Cash and investments $ 920,412 2,446,123 2,009,079 1,357,456 Accounts payable and accrued liabilities $ 209,402 637,568 731,497 115,473 Developer deposits 711,010 1,808,555 1,277,582 1,241,983 $ 920,412 2,446,123 2,009,079 1,357,456 Deferred Compensation Fund (501) Cash and investments $ 196,643 166,355 9,572 353,426 Due to participants $ 196,643 166,355 9,572 353,426 Total—All Agency Funds Cash and investments $ 1,117,055 2,612,478 2,018,651 1,710,882 Accounts payable and accrued liabilities $ 209,402 637,568 731,497 115,473 Developer deposits 711,010 1,808,555 1,277,582 1,241,983 Due to participants 196,643 166,355 9,572 353,426 $ 1,117,055 2,612,478 2,018,651 1,710,882 See accompanying independent auditors' report. 40