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Home My WebLink AboutACFR 1996 The Global Leader CITY OF MOORPARK,CALIFORNIA Annual Financial Report June 30,1996 (With Independent Auditors' Report Thereon) CITY OF MOORPARK,CALIFORNIA Table of Contents Schedule Page Independent Auditors'Report 1 General Purpose Financial Statements at June 30, 1996 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 at June 30, 1996 and for the year then ended: Special Revenue Funds: Combining Balance Sheet 1 24 Combining Statement of Revenues,Expenditures and Changes in Fund Balances 2 28 Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)-Budget and Actual 3 32 Capital Projects Funds: Combining Balance Sheet 4 43 Combining Statement of Revenues,Expenditures and Changes in Fund Balances 5 44 Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual-Redevelopment Capital Projects Fund 6 45 Agency Funds: Statement of Changes in Assets and Liabilities 7 46 Peat Marwick LLP 725 South Figueroa Street 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, 1996 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 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, m 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, 1996 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 11, 1996 on our consideration of the City's internal control structure and a report dated October 11, 1996 on its compliance with laws and regulations. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining, individual fund and account group statements and schedules listed in the accompanying table of contents 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. l<61)14er `Peat1ja44 - October 11, 1996 1 GENERAL PURPOSE FINANCIAL STATEMENTS CITY OF MOORPARK,CALIFORNIA Combined Balance Sheet-All Fund Types and Account Groups June 30,1996 with comparative total figures at June 30,1995 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 1996 1995 Cash and investments(note 3) $ 554,130 14,752,629 - 7,436,698 1,117,055 - - 23,860,512 24,074,371 Restricted cash and investments(note 3) - 774,818 811,328 - - - - 1,586,146 1,452,174 Accounts and interest receivable,net(note 14) 391,018 2,758,826 60 105,782 - - - 3,255,686 2,361,621 Taxes receivable - - - 1,834 - - - 1,834 19,411 Notes receivable - - - 3,934,500 - - - 3,934,500 - Due from other funds(note 9) 46,053 - - - - - - 46,053 351,861 Long-term advance to Redevelopment Agency 5,110,169 - - - - - - 5,110,169 4,316,852 Other assets 153,616 - - - - - - 153,616 146,156 Land held for resale - 1,500,000 - - - - - 1,500,000 5,166,976 Property and equipment(note 7) - - - - - 20,256,323 - 20,256,323 19,150,562 Amount available for debt service - - - - - - 811,388 811,388 822,369 Amount to be provided for retirement of general long-term debt - - - - - - 13,888,781 13,888,781 13,294,483 Total assets and other debits $ Y 6,254,986 . 19,786,273 811,388 11,478,814 1,117,055 20,256,323 14,700,169 74,405,008 71,156,836 Liabilities,Fund Balances and Other Credits Liabilities: Accounts payable and accrued liabilities $ 751,533 1,666,588 - 50,799 209,402 - - 2,678,322 1,754,812 Deposits,principally from developers - - - - 711,010 - - 711,010 675,870 Due to other funds(note 9) - 46,053 - - - - - 46,053 351,861 Deferred revenue 42,920 494,383 - 16,702 - - - 554,005 123,528 Due to participants - - - - 196,643 - - 196,643 132,998 Long-term advance from General Fund(note 4) - - - - - - 5,110,169 5,110,169 4,316,852 Tax allocation bonds payable(note 4) - - - - - - 9,590,000 9,590,000 9,800,000 Total liabilities 794,453 2,207,024 - 67,501 1,117,055 - 14,700,169 18,886,202 17,155,921 Fund balances and other credits: Investment in general fixed assets - - - - - 20,256,323 - 20,256,323 19,150,562 Fund balances: Reserved for receivables due after one year,net 165,764 2,036,828 - 3,934,500 - - - 6,137,092 1,321,392 Reserved for land held for resale - 1,500,000 - - - - - 1,500,000 5,166,976 Reserved for prepaid expenditures 153,616 - - - - - - 153,616 146,156 Reserved for debt service - - 811,388 - - - - 811,388 822,369 Reserved for low/moderate income housing(note 5) - 822,547 - - - - - 822,547 668,845 Reserved for advances to Redevelopment Agency 5,110,169 - - - - - - 5,110,169 4,316,852 Unreserved: Designated(note 8) - 27,000 - 7,099,713 - - - 7,126,713 8,939,248 Undesignated 30,984 13,192,874 - 377,100 - - - 13,600,958 13,468,515 Total fund balances and other credits 5,460,533 17,579,249 811,388 11,411,313 - 20,256,323 - 55,518,806 54,000,915 Commitments and contingencies(notes 6,11,13,15 and 16) Total liabilities,fund balances and other credits $ 6,254,986 19,786,273 811,388 11,478,814 1,117,055 20,256,323 14,700,169 74,405,008 71,156,836 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 30,1996 with comparative total figures for the year ended June 30,1995 Governmental Fund Types Totals General Special Debt Service Capital (memorandum only) Fund Revenue Funds Fund Projects Funds 1996 1995 Revenues: Property taxes $ 1,243,033 - - 1,334,979 2,578,012 2,783,788 Sales taxes 1,168,277 - - - 1,168,277 1,084,454 Other taxes 35,373 500,603 - - 535,976 521,916 Motor vehicle license fees 1,053,854 - - - 1,053,854 990,615 Utility franchise fees 457,175 - - - 457,175 463,275 Building and safety fees - 693,322 - - 693,322 504,549 Maintenance assessments - 2,963,124 - 27,997 2,991,121 940,377 Subventions and grants 147,840 873,618 - - 1,021,458 789,852 Planning and public works fees - 441,128 - - 441,128 535,604 Park development fees - 27,194 - - 27,194 7,036 Charges for current services 263,862 31,058 - 95,166 390,086 291,897 Fines and forfeitures 87,580 40,406 - - 127,986 106,547 Interest 1,011,294 844,715 36,123 427,925 2,320,057 1,314,740 Other 325,505 903,054 - - 1,228,559 759,168 Total revenues 5,793,793 7,318,222 36,123 1,886,067 15,034,205 11,093,818 Expenditures: Current: General government 1,062,690 14,299 - 453,835 1,530,824 1,332,372 Public safety 2,618,063 - - - 2,618,063 2,518,495 Public services 223,431 2,310,046 - - 2,533,477 2,457,737 Parks and recreation 709,781 554,081 - 1,263,862 1,175,997 Capital outlay 120,859 4,413526 - 1,206,547 5,740,932 2,342,077 Debt service: Principal retirement - - 210,000 816,852 1,026,852 1,074,544 Interest and fiscal charges - - 569,234 986,044 1,555,278 620,164 Total expenditures 4,734,824 7,291,952 779,234 3,463,278 16,269,288 11,521,386 Excess(deficiency)of revenues over expenditures 1,058,969 26,270 (743,111) (1,577,211) (1,235,083) (427,568) Other financing sources(uses): Operating transfers in(note 9) 28,894 323,222 732,130 - 1,084,246 1,353,378 Operating transfers out(note 9) (153,988) (22,997) - (907,261) (1,084,246) (1,353,378) Proceeds from sale of City property - - - 37,044 37,044 185,072 Proceeds from long-term advances from General Fund - 43,500 - 1,566,669 1,610,169 816,852 Total other financing sources(uses) (125,094) 343,725 732,130 696,452 1,647,213 1,001,924 Excess(deficiency)of revenues and other sources over expenditures and other uses 933,875 369,995 (10,981) (880,759) 412,130 574,356 Fund balances,July 1 4,526,658 17,209,254 822,369 12,292,072 34,850,353 34,275,997 Fund balances,June 30 $ 5,460,533 17,579,249 811,388 11,411,313 35,262,483 34,850,353 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 30,1996 General Fund Special Revenue Funds Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Property taxes $ 1,203,300 1,243,033 39,733 - - - Sales taxes 1,120,000 1,I68,277 48,277 - - - Other taxes 29,400 35,373 5,973 496,000 500,603 4,603 Motor vehicle license fees 1,018,500 1,053,854 35,354 - - - Utility franchise fees 464,000 457,175 (6,825) - - - Building and safety fees - - - 544,324 693,322 148,998 Maintenance assessments 10,000 - (10,000) 6,882,320 2,963,124 (3,919,196) Subventions and grants 108,269 147,840 39,571 1,058,437 873,618 (184,819) Planning and public works fees - - - 968,523 441,128 (527,395) Park development fees - - - - 27,194 27,194 Charges for current services 209,500 263,862 54,362 21,500 31,058 9,558 Fines and forfeitures 65,000 87,580 22,580 40,000 40,406 406 Interest 996,044 1,011,294 15,250 681,900 844,715 162,815 Other 145,245 325,505 180,260 28,674 903,054 874,380 Total revenues 5,369,258 5,793,793 424,535 10,721,678 7,318,222 (3,403,456) Expenditures: Current: General government 1,069,659 1,062,690 6,969 16,800 14,299 2,501 Public safety 2,818,402 2,618,063 200,339 - - - Public services 264,427 223,431 40,996 2,615,694 2,310,046 305,648 Parks and recreation 752,519 709,781 42,738 556,980 554,081 2,899 Capital outlay 186,085 120,859 65,226 6,504,615 4,413,526 2,091,089 Debt service: Principal retirement - - - - - - Interest expense - - - - - - Total expenditures 5,091,092 4,734,824 356,268 9,694,089 7,291,952 2,402,137 Excess(deficiency)of revenues over expenditures 278,166 1,058,969 780,803 1,027,589 26,270 (1,001,319) Other financing sources(uses): Operating transfers in(note 9) 28,894 28,894 - 510,838 323,222 (187,616) Operating transfers out(note 9) (181,000) (153,988) 27,012 (29,709) (22,997) 6,712 Proceeds from sale of City property - - - - - - Proceeds from long-term advances from General Fund - - - - 43,500 43,500 Total other financing sources(uses) (152,106) (125,094) 27,012 481,129 343,725 (137,404) Excess(deficiency)of revenues and other sources over expenditures and other uses 126,060 933,875 807,815 1,508,718 369,995 (1,138,723) Fund balances,July 1 4,526,658 4,526,658 - 17,209,254 17,209,254 - Fund balances,June 30 $ 4,652,718 5,460,533 807,815 18,717,972 17,579,249 (1,138,723) (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 30,1996 Certain Capital Projects Funds Totals(memorandum only) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Property taxes $ 1,608,769 1,334,979 (273,790) 2,812,069 2,578,012 (234,057) Sales taxes - - - 1,120,000 1,168,277 48,277 Other taxes - - - 525,400 535,976 10,576 Motor vehicle license fees - - - 1,018,500 1,053,854 35,354 Utility franchise fees - - - 464,000 457,175 (6,825) Building and safety fees - - - 544,324 693,322 148,998 Maintenance assessments - 27,997 27,997 6,892,320 2,991,121 (3,901,199) Subventions and grants - - - 1,166,706 1,021,458 (145,248) Planning and public works fees - - - 968,523 441,128 (527,395) Park development fees - - - - 27,194 27,194 Charges for current services 65,000 95,166 30,166 296,000 390,086 94,086 Fines and forfeitures - - - 105,000 127,986 22,986 Interest 400,000 406,492 6,492 2,077,944 2,262,501 184,557 Other - - - 173,919 1,228,559 1,054,640 Total revenues 2,073,769 1,864,634 (209,135) 18,164,705 14,976,649 (3,188,056) Expenditures: Current: General government 397,068 453,835 (56,767) 1,483,527 1,530,824 (47,297) Public safety - - - 2,818,402 2,618,063 200,339 Public services - - - 2,880,121 2,533,477 346,644 Parks and recreation 1,309,499 1,263,862 45,637 Capital outlay 1,666,213 1,206,547 459,666 8,356,913 5,740,932 2,615,981 Debt service: Principal retirement 816,852 816,852 - 816,852 816,852 - Interest expense 986,044 986,044 - 986,044 986,044 - Total expenditures 3,866,177 3,463,278 402,899 18,651,358 15,490,054 3,161,304 Excess(deficiency)of revenues over expenditures (1,792,408) (1,598,644) 193,764 (486,653) (513,405) (26,752) Other financing sources(uses): Operating transfers in(note 9) - - - 539,732 352,116 (187,616) Operating transfers out(note 9) (1,092,988) (885,279) 207,709 (1,303,697) (1,062,264) 241,433 Proceeds from sale of City property - 37,044 37,044 - 37,044 37,044 Proceeds from long-term advances from General Fund - 1,566,669 1,566,669 - 1,610,169 1,610,169 Total other financing sources(uses) (1,092,988) 718,434 1,811,422 (763,965) 937,065 1,701,030 Excess(deficiency)of revenues and other sources over expenditures and other uses (2,885,396) (880,210) 2,005,186 (1,250,618) 423,660 1,674,278 Fund balances,July 1 11,914,423 11,914,423 - 33,650,335 33,650,335 - Fund balances,June 30 $ 9,029,027 11,034,213 2,005,186 32,399,717 34,073,995 1,674,278 See accompanying notes to general purpose financial statements. 5 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements June 30,1996 (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 Funds 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. The general purpose financial statements include total columns which aggregate the financial statements of the various fund types and account groups. The columns are designated "memorandum only" because the totals are not comparable to a consolidation in that interfund transactions are not eliminated. 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 has financial accountability. The Redevelopment Agency is included based an 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 $5,110,169 at June 30, 1996,are to be repaid over an indeterminate period of time, and accrue interest at 10% compounded monthly. These long-term advances are fully reserved in the General Fund as the amount is not available 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. 7 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued 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, 1996. 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. 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 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. 8 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued 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 induded 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. The City's cash and investments at June 30,1996 are as follows: Unrestricted cash and investments $ 23,860,512 Restricted cash and investments 1,586,146 $ 25,446,658 • The cash and investments are aggregated as follows: Deposits $ 475,217 Investments 24,971,441 $ 25,446,658 9 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued The City's deposits at June 30, 1996 are categorized in the following table: Carrying amount, Bank balance, Actual Category 1 Category 2 Category 3 June 30,1996 June 30,1996 Deposits held with banks $ 100,000 375,217 — 475,217 646,347 • 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. The City's investments at June 30, 1996 are categorized in the following table: Not required Carrying Contract/ to be amount, market value, Actual Category 1 Category 2 Category 3 categorized June 30,1996 June 30,1996 U.S. Government securities $ — — 8,772,296 — 8,772,296 8,668,172 Investments held in trust by fiscal agents on behalf of the City of Moorpark (restricted assets) — — 811,328 — 811,328 811,328 Money Market Fund — — — 30,014 30,014 30,014 State Treasurer's Local Agency Investment Fund — — — 15,161,160 15,161,160 15,161,160 Investments held in employee deferred compensation plan-mutual fund investments — — — 196,643 196,643 196,643 Total $ — — 9,583,624 15,387,817 24,971,441 24,867,317 10 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued • Category 1 —Includes investments that are insured or registered or for which the securities are held by the City or its agent in the City's name. • Category 2 — Includes uninsured and unregistered investments for which the securities are held by the counterparty's trust department or agent in the City's name. • Category 3—Includes uninsured and unregistered investments for which securities are held by the counterparty's trust department or agent but not in the City's name. 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 • Repurchase agreements commercial banks and/or savings and loan companies • Passbook savings accounts • Negotiable certificates of deposit • Reverse-repurchase agreements • Bankers' acceptances At June 30, 1996 and for the year ended, the City did not choose to utilize either repurchase agreements or reverse-repurchase agreements investment vehicles. 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, 1996 was $196,643. (See note 10 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, 1996: Balance, Balance, July 1,1995 Additions Payments June 30,1996 1993 Tax Allocation Bonds $ 9,800,000 — 210,000 9,590,000 Long-term advances from the General Fund 4,316,852 1,610,169 816,852 5,110,169 Total $ 14,116,852 1,610,169 1,026,852 14,700,169 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. The Bonds are subject to optional redemption on any interest payment date on or after October 1,2003,by lot within a given maturity, a t 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 12 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued 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 30,1996 is$811,388. 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 1996-97 $ 215,000 560,199 775,199 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 Thereafter 8,400,000 5,413,697 13,813,697 Total $ 9,590,000 8,104,197 17,694,197 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, 1996 totaled $1,610,169 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 $5,110,169 at June 30, 1996. 13 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued (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 $822,547 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, 1996 was $1,667,269. The City's total payroll for the year ended June 30, 1996 was $1,749,944. 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, 1995. Significant actuarial assumptions used in the valuation include(a)a rate of return on the investment of present and future assets of 850%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, 1995, 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 $ 182,806 Current employees: Accumulated employee contributions,including allocated investment earnings 688,672 Employer-financed vested 306,508 Employer-financed nonvested 71,298 1,249,284 Total pension benefit obligation Net assets available for benefits, at cost (market value is $1,813,591) 1,706,106 Net assets in excess of pension benefit obligation $ 456,822 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 1996 of$215,612 (including$116,593 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, 1995. The contribution included $216,329 of normal cost (5.982% of current covered payroll) and $(717) of amortization of unfunded actuarial liability ((0.043)% of current covered payroll). Trend Information Trend information 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 eight years ended June 30,1996 and is summarized as follows: 1996 1995 1994 1993 1992 1991 1990 1989 Net assets available for benefits $ N/A 1,706,106 1,387,348 966,878 732,480 530,168 358,597 223,956 Pension benefit obligation N/A 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 136.57% 141.86% 118.69% 116.36% 117.86% 117.25% 121.35% Net assets in excess of pension benefit obligation N/A 456,822 409,434 152,221 102,973 80,329 52,766 39,405 Covered payroll 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 29.02% 27.30% 11.79% 9.43% 8.17% 7.03% 6.66% Employer contribution as a percentage of covered payroll 6.04% 6.04% 6.04% 6.29% 6.99% 7.78% 8.28% 8.44% N/A=Information is not available as of June 30,1996. 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 30,1996 follows: Balance, Balance, July 1,1995 Additions Disposals June 30,1996 Land $ 10,450,025 — 724,698 9,725,327 Buildings and structures 3,612,236 71,977 — 3,684,213 Improvements other than buildings 3,790,024 1,605,685 — 5,395,709 Office furniture and equipment 833,084 2,188 — 835,272 Other equipment 465,193 150,609 — 615,802 $ 19,150,562 1,830,459 724,698 20,256,323 (8) Fund Balances Designated Fund Balances The City has designated $27,000 of the fund balance of the Park Development Fund for reimbursement of a third party (independent contractor)for disputed work performed on the Arroyo Vista Community Park. The Redevelopment Agency has designated $7,099,713 of fund balance in the Redevelopment Agency Capital Projects Fund for future capital projects. 17 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued (9) Interfund Transactions A summary of operating transfers, interfund receivables/payables and residual equity transfers as of and for the year ended June 30, 1996 is included in the following table: Operating Operating Due from Due to other transfers in transfers out other funds funds General Fund $ 28,894 153,988 46,053 — Special Revenue Funds: State Gas Tax Fund — 1,350 — — Local Transportation Transit Fund 6,430 — — — I.S.T.E.A. Fund — — — 46,053 Police Facilities Fund — 2,092 — — Citywide Traffic Mitigation Fund — 6,957 — — Affordable Housing Fund — 11,811 — — Traffic System Management Fund — 787 — — Park Maintenance Fund 148,210 — — — Community Development Fund 15,433 — — — Low-and Moderate-Income Housing Fund 153,149 — — — Capital Projects Funds: Equipment Replacement Fund — 21,982 — — Redevelopment Agency Fund — 885,279 — — Debt Service Fund 732,130 — — — $ 1,084,246 1,084,246 46,053 46,053 18 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued (10) 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 7.50% of the part-time employees' salaries into this plan cn 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 $196,643 at June 30, 1996. 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. (11) 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 al May 31 of each year after 30 days notice has been given. The aggregate of these and other various contractual commitments total approximately$2,590,300 for the year ended June 30, 1996. 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 (12) 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 a t June 30,1996. 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, 1996. 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. (13) General Liability Insurance The City is self-insured through the Southern California Joint Powers Insurance 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 20 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued occurrence (retained losses), shares pro rata all members' losses from $20,000 to $500,000 based on each member's retained losses as apercentage of total retained losses, and shares pro rata remaining losses from $500,000 to $1 million and general and administrative costs based on 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 (unaudited)of SCJPIA as of and for the year ended June 30, 1996 are as follows: Cash and investments $ 92,047,865 Member deposits receivable 14,050,549 Accrued interest receivable 739,745 Other assets 1,854,650 Total assets $ 108,692,809 Liabilities: Unearned member deposits $ 24,607,601 Accounts payable and accrued expenses 678,537 Total liabilities 25,286,138 Retained earnings, substantially reserved for future catastrophic losses 83,406,671 Total liabilities and retained earnings $ 108,692,809 Revenues: Member deposits earned $ 21,889,041 Interest income 5,075,731 Retrospective adjustments,net 1,901,066 Other 352,702 Total revenues 29,218,540 21 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued Costs and expenses: Incurred claims and other insurance costs $ 18,039,815 Contractual services 135,596 General and administrative expenses 1,324,813 Capital expenditures 84,765 Total costs and expenses 19,584,989 Net income 9,633,551 Retained earnings,July 1, 1995 73,727,813 Revenue adjustment 45,307 Retained earnings,June 30,1996 $ 83,406,671 (14) 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. An allocation of property taxes from 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$2,535,000 at June 30,1996. Seven properties in the assessment district, which had been zoned for commercial use prior to the City's incorporation, are currently used for residential or agricultural purposes. The City has advanced $802,158 and contributed assessments totaling $417,000 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 cn 22 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued the seven properties' proportionate share of the bonds through maturity. Notes receivable, secured by deeds of trust, 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. 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. (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,etc.) 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. 23 SUPPLEMENTARY INFORMATION SPECIAL REVENUE FUNDS Schedule 1 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds June 30,1996 with comparative total figures at June 30,1995 Local Local Park Transportation Transportation State Transit Traffic Safety State Gas Tax Development Streets Transit Assistance Assets Fund(02) Fund(03) Fund(05) Fund(11) Fund(12) Fund(13) Cash and investments $ 31,482 1,549,827 600,492 1,493,723 90,832 131,413 Restricted cash and investments - - - - - - Accounts and interest receivable,net 7,177 51,755 25,015 16,302 1,117 1,549 Due from other funds - - - - - - Land held for resale - - - - - - Total assets $ 38,659 1,601,582 625,507 1,510,025 91,949 132,962 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ 558 61,991 . 184,082 339,626 17,312 - Due to other funds - - - - - - Deferred revenue - - 8,402 97,500 74,637 - Total liabilities 558 61,991 192,484 437,126 91,949 - Fund balances: Reserved for receivables due after one year - - - - - - Reserved for low/moderate income housing - - - - - - Reserved for land held for resale - - - - - - Unreserved: Designated - - 27,000 - - - Undesignated 38,101 1,539,591 406,023 1,072,899 - 132,962 Total fund balances 38,101 1,539,591 433,023 1,072,899 - 132,962 Total liabilities and fund balances $ 38,659 1,601,582 625,507 1,510,025 91,949 132,962 (Continued) 24 ti Schedule 1-2 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds,Continued June 30,1996 with comparative total figures at June 30,1995 Transportation Citywide Development CDBG Police Traffic Affordable I.S.T.E.A. Act(Article 3) Entitlement Facilities Fee Mitigation Housing Assets Fund(14) Fund(15) Fund(18) Fund(20) Fund(21) Fund(22) Cash and investments $ - 23,649 39,795 495,375 844,129 496,085 Restricted cash and investments - - - - - - Accounts and interest receivable,net 46,053 311 10,467 - 10,007 45,237 Due from other funds - - - - - - Land held for resale - - - - - - Total assets $ 46,053 23,960 50,262 495,375 854,136 541,322 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ - - 40,652 - - - Due to other funds 46,053 - - - - - Deferred revenue - - - - - Total liabilities 46,053 - 40,652 - - - Fund balances: Reserved for receivables due after one year - - - - - 39,302 Reserved for low/moderate income housing - - - - - - Reserved for land held for resale - - - - - - Unreserved: Designated - - - - - - Undesignated - 23,960 9,610 495,375 854,136 502,020 Total fund balances - 23,960 9,610 495,375 854,136 541,322 Total liabilities and fund balances $ 46,053 23,960 50,262 495,375 854,136 541,322 (Continued) 25 Schedule 1-3 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds,Continued June 30,1996 with comparative total figures at June 30,1995 Tierra Landscape and Traffic System Park Rejada/Spring Los Angeles Casey/Gabbert Lighting Management Maintenance Road AOC Avenue AOC Road AOC Assets Fund(23) Fund(24) Fund(25) Fund(26) Fund(27) Fund(28) Cash and investments $ 164,740 639,356 52,083 1,141,806 6,212,193 45,543 Restricted cash and investments - - - - - - Accounts and interest receivable,net 15,860 127,232 14,149 25,794 2,292,682 537 Due from other funds - - - - - - Land held for resale - - - - - - Total assets $ 180,600 766,588 66,232 1,167,600 8,504,875 46,080 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ 82,066 - 60,607 8,210 467,481 - Due to other funds - - - - - - Deferred revenue - 119,868 5,625 - 188,351 - Total liabilities 82,066 119,868 66,232 8,210 655,832 - Fund balances: Reserved for receivables due after one year - - - - 1,997,526 - Reserved for low/moderate income housing - - - - - Reserved for land held for resale - - - - - - Unreserved: Designated - - - - - - Undesignated 98,534 646,720 - 1,159,390 5,851,517 46,080 Total fund balances 98,534 646,720 - 1,159,390 7,849,043 46,080 Total liabilities and fund balances $ 180,600 766,588 66,232 1,167,600 8,504,875 46,080 (Continued) 26 Schedule 1-4 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds,Continued June 30,1996 with comparative total figures at June 30,1995 Low-and Community Crossing Moderate- Development Guard Income Housing Totals Assets Fund(41) Fund(43) Fund(74) 1996 1995 Cash and investments $ 599,570 100,536 — 14,752,629 14,206,773 Restricted cash and investments — — 774,818 774,818 640,979 Accounts and interest receivable,net 18,561 1,292 47,729 2,758,826 1,867,697 Due from other funds — — — — 204,161 Land held for resale — — 1,500,000 1,500,000 1,664,801 Total assets $ 618,131 101,828 2,322,547 19,786,273 18,584,411 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ 404,003 — — 1,666,588 939,444 • Due to other funds — — — 46,053 339,700 Deferred revenue — — 494,383 96,013 Total liabilities 404,003 — — 2,207,024 1,375,157 Fund balances: Reserved for receivables due after one year — — — 2,036,828 1,289,392 Reserved for low/moderate income housing — — 822,547 822,547 668,845 Reserved for land held for resale — — 1,500,000 1,500,000 1,664,801 Unreserved: Designated — — — 27,000 527,000 Undesignated 214,128 101,828 — 13,192,874 13,059,216 Total fund balances 214,128 101,828 2,322,547 17,579,249 17,209,254 Total liabilities and fund balances $ 618,131 101,828 2,322,547 19,786,273 18,584,411 See accompanying independent auditors'report. 27 Schedule 2 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances-All Special Revenue Funds Year ended June 30,1996 with comparative total figures for the year ended June 30,1995 Local Local Park Transportation Transportation State Transit Traffic Safety State Gas Tax Development Streets Fund Transit Fund Assistance Fund(02) Fund(03) Fund(05) (11) (12) Fund(13) Revenues: Other taxes $ - 500,603 - - - - Building and safety fees - - - - - - Maintenance assessments - - - 130,961 - - Subventions and grants - - - 415,392 106,973 - Planning and public works fees - - - - - - Park development fees - - 27,194 - - - Charges for current services - - 10,875 - 11,005 - Fines and forfeitures 40,406 - - - - - Interest 1,210 75,113 71,780 76,906 3,292 7,319 Other 398 19,343 - - - - Total revenues 42,014 595,059 109,849 623,259 121,270 7,319 Expenditures: Current: General government - - - - - - Public safety - - - - - - Public services 27,434 566,744 - 63 127,700 - Parks and recreation - - - - - - Capital outlay - 27,612 1,567,924 724,350 - - Total expenditures 27,434 594,356 1,567,924 724,413 127,700 - Excess(deficiency)of reve- nues over expenditures 14,580 703 (1,458,075) (101,154) (6,430) 7,319 Other financing sources(uses): Operating transfers in - - - - 6,430 - Operating transfers out - (1,350) - - - - Proceeds from long-term advances from General Fund - - - - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) - (1,350) - - 6,430 - Excess(deficiency)of revenues and other sources over expenditures and other uses 14,580 (647) (1,458,075) (101,154) - 7,319 Fund balances,July 1 23,521 1,540,238 1,891,098 1,174,053 - 125,643 Fund balances,June 30 $ 38,101 1,539,591 433,023 1,072,899 - 132,962 (Continued) 28 Schedule 2-2 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances-All Special Revenue Funds,Continued Year ended June 30,1996 with comparative total figures for the year ended June 30,1995 Transportation Citywide Development CDBG Police Traffic Affordable I.S.T.E.A. Act(Article 3) Entitlement Facilities Fee Mitigation Housing Fund(14) Fund(15) Fund(18) Fund(20) Fund(21) Fund(22) Revenues: Other taxes $ - - - - - - Building and safety fees - - - 24,058 - - Maintenance assessments - - - - 87,000 - Subventions and grants 164,475 40,000 146,778 - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - 8,800 Fines and forfeitures - - - - - - Interest - 1,938 - - 46,830 35,765 Other - - - - - 42,826 Total revenues 164,475 41,938 146,778 24,058 133,830 87,391 Expenditures: Current: General government - - 10,142 - - 2,958 Public safety - - - - - - Public services - - 73,798 - 1,086 - Parks and recreation - - - - - - Capital outlay 164,475 75,714 62,838 - - - Total expenditures 164,475 75,714 146,778 - 1,086 2,958 Excess(deficiency)of reve- nues over expenditures - (33,776) - 24,058 132,744 84,433 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - - - (2,092) (6,957) (11,811) Proceeds from long-term advances from General Fund - - - - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) - - - (2,092) (6,957) (11,811) Excess(deficiency)of revenues and other sources over expenditures and other uses - (33,776) - 21,966 125,787 72,622 Fund balances,July 1 - 57,736 9,610 473,409 728,349 468,700 Fund balances,June 30 $ - - 23,960 - 9,610 495,375 a 854,136 541,322 (Continued) 29 Schedule 2-3 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures arid Changes in Fund Balances-All Special Revenue Funds,Continued Year ended June 30,1996 with comparative total figures for the year ended June 30,1995 Tierra Landscape and Traffic System Park Rejada/Spring Los Angeles Casey/Gabbert Lighting Fund Management Maintenance Road AOC Avenue AOC Road AOC (23) Fund(24) Fund(25) Fund(26) Fund(27) Fund(28) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments 385,704 192,363 369,515 1,669,910 127,671 - Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - Charges for current services 378 - - - - - Fines and forfeitures - - - - - - Interest 9,958 32,516 2,576 61,218 371,439 2,536 Other 3,942 - 33,780 12,569 779,983 - Total revenues 399,982 224,879 405,871 1,743,697 1,279,093 2,536 Expenditures: Current: General government - - - - 1,199 - Public safety - - - - - - Public services 441,680 - - 2,571 462 - Parks and recreation - - 554,081 - - - Capital outlay 52,530 - - 1,110,096 592,961 - Total expenditures 494,210 - 554,081 1,112,667 594,622 - Excess(deficiency)of reve- nues over expenditures (94,228) 224,879 (148,210) 631,030 684,471 2,536 Other financing sources(uses): Operating transfers in - - 148,210 - - - Operating transfers out (787) - - - Proceeds from long-term advances from General Fund - - - - - - Proceeds from sale of City property - - - - - Total other financing sources(uses) - (787) 148,210 - - - Excess(deficiency)of revenues and other sources over expenditures and other uses (94,228) 224,092 - 631,030 684,471 2,536 Fund balances,July 1 192,762 422,628 - 528,360 7,164,572 43,544 Fund balances,June 30 $ 98,534 646,720 - 1,159,390 7,849,043 46,080 (Continued) 30 Schedule 2-4 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances-All Special Revenue Funds,Continued Year ended June 30,1996 with comparative total figures for the year ended June 30,1995 Low-and Community Crossing Moderate- Development Guard Income Housing Totals Fund(41) Fund(43) Fund(74) 1996 1995 Revenues: Other taxes $ - - - 500,603 489,990 Building and safety fees 669,264 - - 693,322 504,549 Maintenance assessments - - - 2,963,124 938,011 Subventions and grants - - - 873,618 775,647 Planning and public works fees 441,128 - - 441,128 496,183 Park development fees - - - 27,194 7,036 Charges for current services - - - 31,058 29,545 Fines and forfeitures - - - 40,406 36,967 Interest - 6,101 38,218 844,715 792,190 Other 10,080 133 - 903,054 257,140 Total revenues 1,120,472 6,234 38,218 7,318,222 4,327,258 Expenditures: Current: General government - - - 14,299 1,891 Public safety - - - - 14,750 Public services 1,001,224 9,145 58,139 2,310,046 2,282,274 Parks and recreation - - - 554,081 551,151 Capital outlay 12,000 - 23,026 4,413,526 1,621,898 Total expenditures 1,013,224 9,145 81,165 7,291,952 4,471,964 Excess(deficiency)of reve- nues over expenditures 107,248 (2,911)_ (42,947) 26,270 (144,706) Other financing sources(uses): Operating transfers in 15,433 - 153,149 323,222 476,731 Operating transfers out - - - (22,997) (267,690) Proceeds from long-term advances from General Fund - - 43,500 43,500 - Proceeds from sale of City property - - - - 181,272 Total other financing sources(uses) 15,433 - 196,649 343,725 390,313 Excess(deficiency)of revenues and other sources over expenditures and other uses 122,681 (2,911) 153,702 369,995 245,607 Fund balances,July 1 91,447 104,739 2,168,845 17,209,254 16,963,647 Fund balances,June 30 $ 214,128 101,828 2,322,547 17,579,249 17,209,254 See accompanying independent auditors'report. 31 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 30,1996 Traffic Safety Fund(02) State Gas Tax Fund(03) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - 496,000 500,603 4,603 Building and safety fees - - - - Maintenance assessments - - - - - - Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - Fines and forfeitures 40,000 40,406 406 - - - Interest 2,000 1,210 (790) 87,000 75,113 (11,887) Other - 398 398 4,000 19,343 15,343 Total revenues 42,000 42,014 14 587,000 595,059 8,059 Expenditures: Current: General government - - - - - - Public safety - - - - - - Public services 34,420 27,434 6,986 622,196 566,744 55,452 Parks and recreation - - - - - - Capital outlay - - - 78,983 27,612 51,371 Total expenditures 34,420 27,434 6,986 701,179 594,356 106,823 Excess(deficiency)of reve- nues over expenditures 7,580 14,580 7,000 (114,179) 703 114,882 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out (3,430) - 3,430 (1,350) (1,350) - Proceeds from long-term advances from General Fund - - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) (3,430) - 3,430 (1,350) (1,350) - Excess(deficiency)of revenues and other sources over expenditures and other uses 4,150 14,580 10,430 (115,529) (647) 114,882 Fund balances,July 1 23,521 23,521 - 1,540,238 1,540,238 - Fund balances,June 30 $ 27,671 38,101 10,430 1,424,709 1,539,591 114,882 (Continued) 32 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 30,1996 Park Development Fund(05) Local Transportation Streets Fund(11) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - -. Maintenance assessments - - - - 130,961 130,961 Subventions and grants - - - 466,000 415,392 (50,608) Planning and public works fees - - - - - - Park development fees - 27,194 27,194 - - - Charges for current services 14,000 10,875 (3,125) - - - Fines and forfeitures - - - - - - Interest 100,000 71,780 (28,220) 70,000 76,906 6,906 Other - - - - - - Total revenues 114,000 109,849 (4,151) 536,000 623,259 87,259 Expenditures: Current: General government - - - - - - Public safety - - - - Public services - - - - 63 (63) Parks and recreation - - - - - - Capital outlay 1,601,547 1,567,924 33,623 770,000 724,350 45,650 Total expenditures 1,601,547 1,567,924 33,623 770,000 724,413 45,587 Excess(deficiency)of reve- nues over expenditures (1,487,547) (1,458,075) 29,472 (234,000) (101,154) 132,846 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - - - - - - Proceeds from long-term advances from General Fund - - - - - -. Proceeds from sale of City property - - - - - - Total other financing sources(uses) - - - - - - Excess(deficiency)of revenues and other sources over expenditures and other uses (1,487,547) (1,458,075) 29,472 (234,000) (101,154) 132,846 Fund balances,July 1 1,891,098 1,891,098 - 1,174,053 1,174,053 - Fund balances,June 30 $ 403,551 433,023 29,472 940,053 1,072,899 132,846 (Continued) 33 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 30,1996 Local Transportation Transit Fund(12) State Transit Assistance Fund(13) 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 164,666 106,973 (57,693) - - - Planning and public works fees - - - - - - Park development fees - - - Charges for current services 7,000 11,005 4,005 - - - Fines and forfeitures - - - - - - Interest 2,000 3,292 1,292 8,000 7,319 (681) Other - - - - - - Total revenues 173,666 121,270 (52,396) 8,000 7,319 (681) Expenditures: Current: General government - - - - Public safety - - - - Public services 177,667 127,700 49,967 -- Parks and recreation - - - - Capital outlay - - - - - - Total expenditures 177,667 127,700 49,967 - - - Excess(deficiency)of reve- nues over expenditures (4,001) (6,430) (2,429) 8,000 7,319 (681) Other financing sources(uses): Operating transfers in 6,651 6,431) (221) - - - Operating transfers out (3,282) - 3,282 - - - Proceeds from long-term advances from General Fund - - - - - - Proceeds from sale of City property - - - - Total other financing sources(uses) 3,369 6,430 3,061 - - - Excess(deficiency)of revenues and other sources over expenditures and other uses (632) - 632 8,000 7,319 (681) Fund balances,July 1 - - - 125,643 125,643 - Fund balances,June 30 $ (632) - 632 133,643 132,962 (681) (Continued) 34 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 30,1996 Transportation I.S.T.E.A.Fund(14) Development Act(Article 3)Fund(15) 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 164,475 164,475 — 81,000 40,000 (41,000) Planning and public works fees — — — — — — Park development fees — — — — — — Charges for current services — — — — — — Fines and forfeitures — — — — — — Interest — — — 2,000 1,938 (62) Other — — — — — — Total revenues 164,475 164,475 — 83,000 41,938 (41,062) Expenditures: Current: General government — — — — — — Public safety — — — — — — Public services — — — — — — Parks and recreation — — — — — — Capital outlay 164,475 164,475 — 81,000 75,714 5,286 Total expenditures 164,475 164,475 — 81,000 75,714 5,286 Excess(deficiency)of reve- nues over expenditures — — — 2,000 (33,776) (35,776) Other financing sources(uses): Operating transfers in — — — — — — Operating transfers out — — — — — — Proceeds from long-term advances from General Fund — — — — — — Proceeds from sale of City property — — — — — — Total other financing sources(uses) — — — — — — Excess(deficiency)of revenues and other sources over expenditures and other uses — — — 2,000 (33,776) (35,776) Fund balances,July 1 — — — 57,736 57,736 — Fund balances,June 30 $ — — — 59,736 23,960 (35,776) (Continued) 35 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 30,1996 CDBG Entitlement Fund(18) Police Facilities Fee Fund(20) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - 10,000 24,058 14,058 Maintenance assessments - - - - - - Subventions and grants 182,296 146,778 (35,518) - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest - - - - - - Other - - - - - - Total revenues 182,296 146,778 (35,518) 10,000 24,058 14,058 Expenditures: Current: General government 16,800 10,142 6,658 - - - Public safety - - - - - - Public services 89,700 73,798 15,902 - - - Parks and recreation 6,000 - 6,000 - - - Capital outlay 69,796 62,838 6,958 - - - Total expenditures 182,296 146,778 35,518 - - _ - Excess(deficiency)of reve- nues over expenditures - - - 10,000 24,058 14,058 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - - - (2,092) (2,092) - Proceeds from long-term advances from General Fund - - - - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) - - - (2,092) (2,092) - Excess(deficiency)of revenues and other sources over expenditures and other uses - 7,908 21,966 14,058 Fund balances,July 1 9,610 9,610 - 473,409 473,409 - Fund balances,June 30 $ 9,610 9,610 - 481,317 495,375 14,058 (Continued) 36 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 30,1996 Citywide Traffic Mitigation Fund(21) Affordable Housing Fund(22) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments 15,000 87,000 72,000 - - - Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - 8,800 8,800 Fines and forfeitures - - - - Interest 22,000 46,830 24,830 15,000 35,765 20,765 Other - - - 6,600 42,826 36,226 Total revenues 37,000 133,830 96,830 21,600 87,391 65,791 Expenditures: Current: General government - - - - 2,958 (2,958) Public safety - - - - - - Public services 20,000 1,086 18,914 - - - Parks and recreation - - - - - - Capital outlay - - - - - - Total expenditures 20,000 1,086 18,914 - 2,958 (2,958) Excess(deficiency)of reve- nues over expenditures 17,000 132,744 115,744 21,600 84,433 62,833 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out (6,957) (6,957) - (11,811) (11,811) - Proceeds from long-term advances from General Fund - - - - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) (6,957) (6,957) - (11,811) (11,811) - Excess(deficiency)of revenues and other sources over expenditures and other uses 10,043 125,787 115,744 9,789 72,622 62,833 Fund balances,July 1 728,349 728,349 - 468,700 468,700 - Fund balances,June 30 $ 738,392 854,136 115,744 478,489 541,322 62,833 (Continued) 37 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 30,1996 Landscape and Lighting Fund(23) Traffic System Management Fund(24) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments 425,318 385,704 (39,614) 118,800 192,363 73,563 Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services 500 378 (122) - - - Fines and forfeitures - - - - - - Interest 1,200 9,958 8,758 14,000 32,516 18,516 Other 3,000 3,942 942 - - - Total revenues 430,018 399,982 (30,036) 132,800 224,879 92,079 Expenditures: Current: General government - - - - - - Public safety - - - - - - Public services 465,314 441,680 23,634 - - - Parks and recreation - - - - - - Capital outlay 120,550 52,530 68,020 - - - • Total expenditures 585,864 494,210 91,654 - - - Excess(deficiency)of reve- nues over expenditures (155,846) (94,228) 61,618 132,800 224,879 92,079 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - - - (787) (787) - Proceeds from long-term advances from General Fund - - - - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) - - - (787) (787) - Excess(deficiency)of revenues and other sources over expenditures and other uses (155,846) (94,228) 61,618 132,013 224,092 92,079 Fund balances,July 1 192,762 192,762 - 422,628 422,628 - Fund balances,June 30 $ 36,916 98,534 61,618 554,641 646,720 92,079 (Continued) 38 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 30,1996 Park Maintenance Fund(25) Tierra Rejada/Spring Road AOC Fund(26) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - Building and safety fees - - - - - - Maintenance assessments 371,780 369,515 (2,265) 2,384,752 1,669,910 (714,842) Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest 1,200 2,576 1,376 30,000 61,218 31,218 Other 3,000 33,780 30,780 12,074 12,569 495 Total revenues 375,980 405,871 29,891 2,426,826 1,743,697 (683,129) Expenditures: Current: General government - - - - - - Public safety - - - - - - Public services - - - 1,100 2,571 (1,471) Parks and recreation 550,980 554,081 (3,101) - - - Capital outlay - - - 1,292,430 1,110,096 182,334 Total expenditures 550,980 554,081 (3,101) 1,293,530 1,112,667 180,863 Excess(deficiency)of reve- nues over expenditures (175,000) (148,210) 26,790 1,133,296 631,030 (502,266) Other financing sources(uses): Operating transfers in 175,000 148,210 (26,790) - - - Operating transfers out - - - - - - Proceeds from long-term advances from General Fund - - - - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) 175,000 148,210 (26,790) - - - Excess(deficiency)of revenues and other sources over expenditures and other uses - - - 1,133,296 631,030 (502,266) Fund balances,July 1 - - - 528,360 528,360 - Fund balances,June 30 $ - - - 1,661,656 1,159,390 (502,266) (Continued) 39 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 30,1996 Los Angeles Avenue AOC Fund(27) Casey/Gabbert Road AOC Fund(28) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ — — — — — — Building and safety fees — — — — — — Maintenance assessments 3,229,710 127,671 (3,102,039) 336,960 — (336,960) Subventions and grants — — — — — — Planning and public works fees — — — — — — Park development fees — — — — — — Charges for current services — — — — — — Fines and forfeitures — — — — — — Interest 300,000 371,439 71,439 2,000 2,536 536 Other — 779,983 779,983 — — — Total revenues 3,529,710 1,279,093 (2,250,617) 338,960 2,536 (336,424) Expenditures: Current: General government — 1,199 (1,199) — — — Public safety — — — — — — Public services — 462 (462) — — — Parks and recreation — — — — — — Capital outlay 2,288,700 592,961 1,695,739 — — — Total expenditures 2,288,700 594,622 1,694,078 — — — Excess(deficiency)of reve- nues over expenditures 1,241,010 684,471 (556,539) 338,960 2,536 (336,424) Other financing sources(uses): Operating transfers in — — — — — — Operating transfers out — — — — — — Proceeds from long-term advances from General Fund — — — — — — Proceeds from sale of City property — — — — — — Total other financing sources(uses) — — — — — — Excess(deficiency)of revenues and other sources over expenditures and other uses 1,241,010 684,471 (556,539) 338,960 2,536 (336,424) Fund balances,July 1 7,164,572 7,164,572 — 43,544 43,544 — Fund balances,June 30 $ 8,405,582 7,849,043 (556,539) 382,504 46,080 (336,424) (Continued) 40 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 30,1996 Community Development Fund(41) Crossing Guard Fund(43) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees 534,324 669,264 134,940 - - - Maintenance assessments - - - - - - Subventions and grants - - - - - - Planning and public works fees 968,523 441,128 (527,395) - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest - - - 4,500 6,101 1,601 Other - 10,080 10,080 - 133 133 Total revenues 1,502,847 1,120,472 (382,375) 4,500 6,234 1,734 Expenditures: Current: General government - - - - - - Public safety - - - - - - Public services 1,188,424 1,001,224 187,200 11,373 9,145 2,228 Parks and recreation - - - - - - Capital outlay 12,000 12,000 - - - - • Total expenditures 1,200,424 1,013,224 187,200 11,373 9,145 2,228 Excess(deficiency)of reve- nues over expenditures 302,423 107,248 (195,175) (6,873) (2,911) 3,962 Other financing sources(uses): Operating transfers in 15,433 15,433 - - - - Operating transfers out - - - - - - Proceeds from long-term advances from General Fund - - - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) 15,433 15,433 - - - - Excess(deficiency)of revenues and other sources over expenditures and other uses 317,856 122,681 (195,175) (6,873) (2,911) 3,962 Fund balances,July 1 91,447 91,447 - 104,739 104,739 - Fund balances,June 30 $ 409,303 214,128 (195,175) 97,866 101,828 3,962 (Continued) 41 Schedule 3-11 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 30,1996 Low-and Moderate-Income Housing Fund Total Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - 496,000 500,603 4,603 Building and safety fees - - - 544,324 693,322 148,998 Maintenance assessments - 6,882,320 2,963,124 (3,919,196) Subventions and grants - - - 1,058,437 873,618 (184,819) Planning and public works fees - - - 968,523 441,128 (527,395) Park development fees - - - - 27,194 27,194 Charges for current services - - - 21,500 31,058 9,558 Fines and forfeitures - - - 40,000 40,406 406 Interest 21,000 38,218 17,218 681,900 844,715 162,815 Other - - - 28,674 903,054 874,380 Total revenues 21,000 38,218 17,218 10,721,678 7,318,222 (3,403,456) Expenditures: Current: General government - - - 16,800 14,299 2,501 Public safety - - - - - - Public services 5,500 58,139 (52,639) 2,615,694 2,310,046 305,648 Parks and recreation - - - 556,980 554,081 2,899 Capital outlay 25,134 23,026 2,108 6,504,615 4,413,526 2,091,089 Total expenditures _ 30,634 81,165 (50,531) 9,694,089 7,291,952 _ 2,402,137 Excess(deficiency)of reve- nues over expenditures (9,634) (42,947) (33,313) 1,027,589 26,270 (1,001,319) Other financing sources(uses): Operating transfers in 313,754 153,149 (160,605) 510,838 323,222 (187,616) Operating transfers out - - - (29,709) (22,997) 6,712 Proceeds from long-term advances from General Fund - 43,500 43,500 - 43,500 43,500 Proceeds from sale of City property - - - - - - Total other financing sources(uses) 313,754 196,649 (117,105) 481,129 343,725 (137,404) Excess(deficiency)of revenues and other sources over expenditures and other uses 304,120 153,702 (150,418) 1,508,718 369,995 (1,138,723) Fund balances,July 1 2,168,845 2,168,845 - 17,209,254 17,209,254 - Fund balances,June 30 $ 2,472,965 2,322,547 (150,418) 18,717,972 17,579,249 (1,138,723) 42 CAPITAL PROJECTS FUNDS Schedule 4 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet—All Capital Projects Funds June 30,1996 with comparative total figures at June 30,1995 Equipment City Hall Replacement Redevelopment Totals Assets Building Fund Fund Agency Fund 1996 1995 Cash and investments $ 212,860 159,806 7,064,032 7,436,698 8,797,065 Accounts and interest receivable,net 2,510 1,924 101,348 105,782 71,186 Taxes receivable — — 1,834 1,834 19,411 Notes receivable — — 3,934,500 3,934,500 — Land held for resale — — — — 3,502,175 Total assets $ 215,370 161,730 11,101,714 11,478,814 12,389,837 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ — — 50,799 50,799 97,765 Notes payable — — — — — Deferred revenue — — 16,702 16,702 — Total liabilities — — 67,501 67,501 97,765 Fund balances: Reserved for land held for resale — — — — 3,502,175 Reserved for receivables due after one year,net — — 3,934,500 3,934,500 — Unreserved: Designated for capital projects — — 7,099,713 7,099,713 8,412,248 Undesignated 215,370 161,730 — 377,100 377,649 Total fund balances 215,370 161,730 11,034,213 11,411,313 12,292,072 Total liabilities and fund balances $ 215,370 161,730 11,101,714 11,478,814 12,389,837 See accompanying independent auditors'report. 43 Schedule 5 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances-All Capital Projects Funds Year ended June 30,1996 with comparative total figures for the year ended June 30,1995 Equipment City Hall Replacement Redevelopment Totals Building Fund Fund Agency Fund 1996 1995 Revenues: Property taxes $ - - 1,334,979 1,334,979 1,564,946 Maintenance assessments - - 27,997 27,997 - Charges for current services - - 95,166 95,166 57,630 Interest 11,900 9,533 406,492 427,925 405,249 Other - - - - 6,965 Total revenues 11,900 9,533 1,864,634 1,886,067 2,034,790 Expenditures: Current-general government - - 453,835 453,835 456,961 Capital outlay - - 1,206,547 1,206,547 517,914 Debt service: Principal retirement - - 816,852 816,852 874,544 Interest expense - - 986,044 986,044 41,326 Total expenditures - - 3,463,278 3,463,278 1,890,745 Excess(deficiency)of revenues over expenditures 11,900 9,533 (1,598,644) (1,577,211) 144,045 Other financing sources(uses): Operating transfers in - - - 90,000 Operating transfers out - (21,982) (885,279) (907,261) (938,891) Sale of agency assets - - 37,044 37,044 - Proceeds from long-term advances from General Fund - _ - 1,566,669 1,566,669 816,852 Total other financing sources(uses) - (21,982) 718,434 696,452 (32,039) Excess(deficiency)of revenues and other sources over expenditures and other uses 11,900 (12,449) (880,210) (880,759) 112,006 Fund balances,July 1 203,470 174,179 11,914,423 12,292,072 12,180,066 Fund balances,June 30 $ 215,370 161,730 11,034,213 11,411,313 12,292,072 See accompanying independent auditors'report. 44 ' 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 30,1996 Actual Variance— (budgetary favorable Budget basis) (unfavorable) Revenues: Property taxes $ 1,608,769 1,334,979 (273,790) Maintenance assessments 27,997 27,997 Charges for current services 65,000 95,166 30,166 Interest 400,000 406,492 6,492 Total revenues 2,073,769 1,864,634 (209,135) Expenditures: General government 397,068 453,835 (56,767) Capital outlay 1,666,213 1,206,547 459,666 Debt service: Principal retirement 816,852 816,852 Interest expense 986,044 986,044 Total expenditures 3,866,177 3,463,278 402,899 Excess(deficiency)of revenues over expenditures (1,792,408) (1,598,644) 193,764 Other financing sources(uses): Operating transfers out (1,092,988) (885,279) 207,709 Sale of agency assets 37,044 37,044 Proceeds from long-term advances to Agency from City 1,566,669 1,566,669 Total other financing sources(uses) (1,092,988) 718,434 1,811,422 Excess(deficiency)of revenues and other sources over expenditures and other uses (2,885,396) (880,210) 2,005,186 Fund balance,July 1 11,914,423 11,914,423 Fund balance,June 30 $ 9,029,027 11,034,213 2,005,186 See accompanying independent auditors'report. 45 AGENCY FUNDS Schedule 7 CITY OF MOORPARK, CALIFORNIA Statement of Changes in Assets and Liabilities-All Agency Funds Year ended June 30, 1996 Balance, Balance, July 1,1995 Additions Deletions June 30,1996 Developer Deposit Fund (39) Cash and investments $ 897,770 2,527,713 2,505,071 920,412 Accounts payable and accrued liabilities $ 221,900 1,223,063 1,235,561 209,402 Developer deposits 675,870 1,519,538 1,484,398 711,010 $ 897,770 2,742,601 2,719,959 920,412 Deferred Compensation Fund (99) Cash and investments $ 132,998 70,758 7,113 196,643 Due to participants $ 132,998 70,758 7,113 196,643 Total-All Agency Funds Cash and investments $ 1,030,768 2,598,471 2,512,184 1,117,055 Accounts payable and accrued liabilities $ 221,900 1,223,063 1,235,561 209,402 Developer deposits 675,870 1,519,538 1,484,398 711,010 Due to participants 132,998 70,758 7,113 196,643 $ 1,030,768 2,813,359 2,727,072 1,117,055 See accompanying independent auditors' report. 46