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Home My WebLink AboutACFR 1995 IffinPeat Marwick CITY OF MOORPARK, CALIFORNIA Annual Financial Report June 30,1995 (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, 1995 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 on the Budgetary Basis -General,Special Revenue and Certain Capital Projects Funds 4 Notes to General Purpose Financial Statements 6 Supplementary Information-Combining Financial Statements at June 30, 1995 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 (Accumulated Deficits)- Budget and Actual on the Budgetary Basis 3 32 Capital Projects Funds: Combining Balance Sheet 4 44 Combining Statement of Revenues,in Fund Balances 5 45 Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual on the Budgetary Basis-Redevelopment Capital Projects Fund 6 46 Agency Funds: Statement of Changes in Assets and Liabilities 7 47 IEI 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, 1995 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. Art 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 June30, 1995 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 20, 1995 on our consideration of the City's internal control structure and a report dated October 20, 1995 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. --KJP1)'1 Gt' - .eat October 20,1995 Ir 1 Member Pum of Klynvcld Peal Marwick GoerdelCr GENERAL PURPOSE FINANCIAL STATEMENTS • CITY OF MOORPARK,CALIFORNIA Combined Balance Sheet-All Fund Types and Account Groups June 30,1995 with comparative total figures at June 30,1994 Account Groups Governmental Fund Types Fiduciary General Totals Special Debt Capital Fund Types General Fixed Long-Term (memorandum only) Assets and Other Debits General Fund Revenue Funds Service Projects Funds Agency Funds Assets Debt 1995 1994 Cash and investments(note 3) S 39,765 14,206,773 - 8,797,065 1,030,768 - - 24,074,371 25,743,958 Restricted cash and investments(note 3) - 640,979 811,195 - - - - 1,452,174 1,248,110 Accounts and interest receivable,net(note 14) 411,564 1,867,697 11,174 71,186 - - - 2,361,621 2,260,633 Taxes receivable - - - 19,411 - - - 19,411 18,868 Due from other funds(note 9) 147,700 204,161 - - - - - 351,861 212,260 Long-term advance to Redevelopment Agency 4,316,852 - - - - - - 4,316,852 4,374,544 Other assets 146,156 - - - - - - 146,156 - Land held for resale - 1,664,801 - 3,502,175 - - - 5,166,976 5,002,175 Property and equipment(note 7) - - - - - 19,150,562 - 19,150,562 18,252,158 Amount available for debt service - - - - - - 822,369 822,369 813,118 Amount to be provided for retirement of long-term debt - - - - - - 13,294,483 13,294,483 13,561,426 Total assets $ 5,062,037 18,584,411 822,369 12,389,837 1,030,768 19,150,562 14,116,852 71,156,836 71,487,250 Liabilities,Fund Balances and Other Credits Liabilities: Accounts payable and accrued liabilities S 495,703 939,444 - 97,765 221,9(X) - - 1,754,812 1,997,639 Note payable - - - - - - - - 1,350,000 Deposits,principally from developers - - - - 675,870 - - 675,870 852,842 Due to other funds(note 9) 12,161 339,700 - - - - - 351,861 212,260 Deferred revenue 27,515 96,013 - - - - - 123,528 97,763 Due to participants - - - - 132,998 - - 132,998 74,047 Long-term advance from General Fund(note 4) - - - - - - 4,316,852 4,316,852 4,374,544 Tax allocation bonds payable(note 4) - - - - - - 9,800,000 9,800,000 10,000,000 Total liabilities 535,379 1,375,157 - 97,765 1,030,768 - 14,116,852 17,155,921 18,959,095 Fund balances and other credits: Investment in general fixed assets - - - - - 19,150,562 - 19,150,562 18,252,158 Fund balances: Reserved for receivables due after one year,net 32,000 1,289,392 - - - - - 1,321,392 1,355,626 Reserved for land held for resale - 1,664,801 - 3,502,175 - - - 5,166,976 5,002,175 Reserved for debt service - - 822,369 - - - - 822,369 813,118 Reserved for low/moderate income housing(note 5) - 668,845 - - - - - 668,845 448,827 Reserved for advances to Redevelopment Agency 4,316,852 - - - - - - 4,316,852 4,374,544 Unreserved: Designated(note 8) - 527,000 - 8,412,248 - - - 8,939,248 8,907,254 Undesignated 177,806 13,059,216 - 377,649 - - - 13,614,671 13,374,453 Total fund balances and other credits 4,526,658 17,209,254 822,369 12,292,072 - 19,150,562 - 54,000,915 52,528,155 Commitments and contingencies(notes 6,11,12 and 13) Total liabilities,fund balances and other credits $ 5,062,037 18,584,411 822,369 12,389,837 1,030,768 19,150,562 14,116,852 71,156,836 71,487,250 �......a See accompany ng notes to general purpose financial statements. 2 • CITY OF MOORPARK,CALIFORNIA Combined Statement of Revenues,Expenditures and Changes in Fund Balances-AU Governmental Fund Types Year ended June 30,1995 with comparative total figures for the year ended June 30,1994 Governmental Fund Types Totals Special Debt Service Capital (memorandum only) General Fund Revenue Funds Fund Projects Funds 1995 1994 Revenues: Property taxes 5 1,218,842 - - 1,564,946 2,783,788 2,443,675 Sales taxes 1,084,454 - - - 1,084,454 944,313 Other taxes 31,926 489,990 - - 521,916 514,263 Motor vehicle license fees 990,615 - - - 990,615 934,924 Utility franchise fees 463,275 - - - 463,275 433,132 Building and safety fees - 504,549 - - 504,549 31,534 Maintenance assessments 2,366 938,011 - - 940,377 3,592,238 Subventions and grants 14,205 775,647 - - 789,852 1,966543 Planning and public works fees 39,421 496,183 - - 535,604 1,115,439 Park development fees - 7,036 - - 7,036 202,270 Charges for current services 204,722 29,545 - 57,630 291,897 188,188 Fines and forfeitures 69,580 36,967 - - 106,547 102,040 Interest 59,424 792,190 57,877 405,249 1,314,740 1,356,679 Other 495,063 257,140 - 6,965 759,168 838,660 Total revenues 4,673,893 4,327,258 57,877 2,034,790 11,093,818 14663,698 Expenditures. Current: General government 873,520 1,891 - 456,961 1,332,372 1,502,504 Public safety 2,503,745 14,750 - - 2,518,495 2,417,915 Public services 175,463 2,282,274 - - 2,457,737 2,913,513 Parks and recreation 624,846 551,151 - - 1,175,997 989,482 Capital outlay 202,265 1,621,898 - 517,914 2,342,077 9,218,073 Debt service: Principal retirement - - 200,000 874,544 1,074,544 - Interest and fiscal charges - - 578,838 41,326 620,164 554,029 Total expenditures 4,379,839 4,471,964 778,838 1,890,745 11521,386 17,595,516 Excess(deficiency)of revenues over expenditures 294,054 (144,706) (720,961) 144,045 (427,568) (2,931,818) Other financing sources(uses): Operating transfers in(note 9) 56,435 476,731 730,212 90,000 1,353,378 923,128 Operating transfers out(note 9) (146,797) (267,690) - (938,891) (1,353,378) (923,128) Proceeds from sale of City property 3,800 181,272 - - 185,072 - Proceeds from long-term advances from General Fund - - - 816,852 816,852 4,374,544 Total other financing sources(uses) (86,562) 390,313 730,212 (32,039) 1,001,924 4,374,544 Excess of revenues and other sources over expenditures and other uses 207,492 245,607 9,251 112,006 574,356 1,442,726 Fund balances,July 1 4,319,166 16,963,647 813,118 12,180,066 34,275,997 32,833,271 Residual equity transfers in - - - - - 58,328 Residual equity transfers out - - - - - (58,328) Fund balances,June 30 S 4,526,658 17,209,254 822,369 12,292,072 34,850,353 34,275,997 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 on the Budgetary Basis(Note 2)-General,Special Revenue and Certain Capital Projects Funds Year ended June 30,1995 General Fund Special Revenue Funds Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Property taxes S 1,182,000 1,218,842 36,842 - - - Sales taxes 970,000 1,084,454 114,454 - - Other taxes 33,400 31,926 (1,474) 475,841 489,990 14,149 Motor vehicle license fees 935,000 990,615 55,615 - - - Utility franchise fees 460,000 463,275 3,275 - - - Building and safety fees - - - 375,637 504,549 128,912 Maintenance assessments - 2,366 2,366 987,350 938,011 (49,339) Subventions and grants 23,752 14205 (9,547) 1,209,599 775,647 (433,952) Planning and public works fees 54,000 39,421 (14,579) 480,900 496,183 15,283 Park development fees - - - - 7,036 7,036 Charges for current services 232,190 204,722 (27,468) 8,500 29,545 21,045 Fines and forfeitures 50,000 69,580 19,580 50,000 36,967 (13,033) Interest 450,000 59,424 (390,576) 585,600 792,190 206,590 Other 205288 495,063 289,775 491,636 257,140 (234,496) Total revenues 4,595,630 4,673,893 78,263 4,665,063 4,327,258 (337,805) Expenditures: Current: General government 966,944 873,520 93,424 104,197 1,891 102,306 Public safety 2,701,893 2,503,745 198,148 22,165 14,750 7,415 Public services 225,124 175,463 49,661 2,581,791 2,282,274 299,517 Parks and recreation 6,441,754 624,846 5,816,908 500,981 551,151 (50,170) Capital outlay 189,689 202,265 (12,576) 6,497,051 1,621,898 4,875,153 Debt service: Principal retirement - - - - - Interest expense - - - - - - Total expenditures 10,525,404 4,379,839 6,145,565 9,706,185 4,471,964 5,234,221 Excess(deficiency)of revenues over expenditures (5,929,774) 294,054 6,223,828 (5,041,122) (144,706) 4,896,416 Other financing sources(uses): Operating transfers in(note 9) 21,497 56,435 34,938 182,161 476,731 294,570 Operating transfers out(note 9) (150,780) (146,797) 3,983 (124,662) (267,690) (143,028) Proceeds from sale of City property - 3,800 3,800 - 181,272 181,272 Proceeds from long-term advances from General Fund - - - - - Total other financing sources(uses) (129,283) (86,562) 42,721 57,499 390,313 332,814 Excess(deficiency)of revenues and other sources over expenditures and other uses (6,059,057) 207,492 6,266,549 (4,983,623) 245,607 5,229,230 Fund balances,July 1 4,319,166 4,319,166 - 16,963,647 16,963,647 - Fund balances,June 30 S (1,739,891) 4,526,658 6,266,549 11,980,024 17,209,254 5,229,230 (Continued) 4 CITY OF MOORPARK,CALIFORNIA Combined Statement of Revenues,Expenditures and Changes in Fund Balances- Budget and Actual on the Budgetary Basis(Note 2)-General,Special Revenue and Certain Capital Projects Funds,Continued Year ended June 30,1995 Certain Capital Projects Fund Total(memorandum only) Actual Variance- Actual Variance_ (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Property taxes $ - 1,564,946 1,564,946 1,182,000 2,783,788 1,601,788 Sales taxes - - - 970,000 1,084,454 114,454 Other taxes - - - 509,241 521,916 12,675 Motor vehicle license fees - - - 935,000 990,615 55,615 Utility franchise fees - - - 460,000 463,275 3,275 Building and safety fees - - - 375,637 504,549 128,912 Maintenance assessments - - - 987,350 940,377 (46,973) Subventions and grants - - - 1,233,351 789,852 (443,499) Planning and public works fees - - - 534,900 535,604 704 Park development fees - - - - 7,036 7,036 Charges for current services - 57,630 57,630 240,690 291,897 51,207 Fines and forfeitures - - - 100,000 106,547 6,547 Interest - 398,834 398,834 1,035,600 1,250,448 214,848 Other - - - 696,924 752,203 55279 Total revenues - 2,021,410 2,021,410 9,260,693 11,022,561 1,761,868 Expenditures: Current: General government 317,934 456,961 (139,027) 1,389,075 1,332,372 56,703 Public safety - - - 2,724,058 2,518,495 205,563 Public services - - - 2,806,915 2,457,737 349,178 Parks and recreation - - - 6,942,735 1,175,997 5,766,738 Capital outlay 925,860 500,981 424,879 7,612,600 2,325,144 5,287,456 Debt service: Principal retirement - 874,544 (874,544) - 874,544 (874,544) Interest expense 300,000 41,326 258,674 300,000 41,326 258,674 Total expenditures 1,543,794 1,873,812 (330,018) 21,775,383 10,725,615 11,049,768 Excess(deficiency)of revenues over expenditures (1,543,794) 147,598 1,691,392 (12,514490) 296,946 12,811,636 Other financing sources(uses): Operating transfers in(note 9) - - - 203,658 533,166 329,508 Operating transfers out(note 9) (576,839) (932,456) (355,617) (852,281) (1,346,943) (494,662)from sale of City property - - 185,072 185,072 Proceeds from long-term advances from General Fund 1,425,009 816,852 (608,157) 1,425,009 816,852 (608,157) Total other financing sources(uses) 848,170 (115,604) (963,774) 776,386 188,147 (588,239) Excess(deficiency)of revenues and other sources over expenditures and other uses (695,624) 31,994 727,618 (11,738,304) 485,093 12,223,397 Fund balances,July 1 11,882,429 11,882,429 - 33,165,242 33,165,242 - Fund balances,June 30 5 11,186,805 11,914,423 727,618 21,426,938 33,650,335 12,223,397 See accompanying notes to general purpose financial statements. 5 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements June 30,1995 (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 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 Project Funds are current and will be repaid from the receipt of grant funds and future revenues. Long-term advances to the Redevelopment Agency, which total $4,316,852 at June 30, 1995, 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 a1 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 Capital Projects Funds and Low- and Moderate-Income Special Revenue Fund, which totaled $3,502,175 and $1,500,000, respectively, at June 30, 1995, represents land purchased by the Agency for redevelopment projects. Land held for resale in the Affordable Housing Special Revenue Fund, which totaled $164,801, represents land purchased by the City for future capital projects. Such land is valued at the lower of cost or estimated net realizable value (as determined by a disposition and development agreement(DDA)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 fair market value at 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 Project 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 8 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued 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. The City's cash and investments at June 30, 1995 are as follows: Unrestricted cash and investments $ 24,074,371 Restricted cash and investments 1,452,174 $ 25,526,545 The cash and investments are aggregated as follows: Deposits $ 1,172,935 Investments 24,353,610 $ 25,526,545 9 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued The City's deposits at June 30, 1995 are categorized in the following table: Carrying Bank balance, amount, Actual Category 1 Category 2 Category 3 June 30,1995 June 30,1995 Deposits held with banks $ 100,000 172,935 900,000 1,363,909 1,172,935 • 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, 1995 are categorized in the following table: Not required Carrying Market to be amount, value, Actual Category 1 Category 2 Category 3 categorized June 30,1995 June 30,1995 U.S. Government securities $ — — 13,525,781 — 13,525,781 13,295,590 Investments held in trust by fiscal agents on behalf of the City of Moorpark (restricted assets) — — 811,195 — 811,195 811,195 Money Market Fund — — — 888,149 888,149 888,149 State Treasurer's Local Agency Investment Fund — — — 8,995,487 8,995,487 8,995,487 Investments held in deferred compensation plan- mutual fund investments — — — 132,998 132,998 131,073 Total $ — — 14,336,976 10,016,634 24,353,610 24,121,494 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, 1995 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, 1995 is $118,664 and $12,409, respectively. 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 of the City for the fiscal year ended June 30, 1995: Balance, Balance, July 1,1994 Additions Payments June 30,1995 1994 Tax Allocation Bonds $ 10,000,000 — 200,000 9,800,000 Long-term advances from the General Fund 4,374,544 816,852 874,544 4,316,852 Total $ 14,374,544 816,852 1,074,544 14,116,852 1994 Tax Allocation Bonds On June 1, 1993, the City issued a $10,000,000 aggregate principal amount of Moorpark Redevelopment Project, 1994 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, commenting on October 1, 1993 and are subject to mandatory sinking fund redemption commencing at October 1, 2008 and m 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 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 maturity, at the option of the 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 City 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, 1995 is$811,195. Debt service payments on the 1994 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 1995-96 $ 210,000 569,234 779,234 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 Thereafter 8,660,000 5,927,481 14,587,481 Total $ 9,800,000 8,673,431 18,473,431 Advances from the General Fund The City's General Fund has paid for services and start up expenditures incurred by the Agency. The amount advanced on behalf of the Agency, which totaled $816,852 at June 30, 1995, 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 Agency which the Agency used, together with $1.5 million of Low- and Moderate-Housing Funds and $0.5 million of City Park Development Funds, to purchase certain properties within the Agency project area. This advance also accrues interest at 10% and is to be repaid over an indeterminate period. (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 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$668,845 and is reflected as a reservation of fund balance in the Agency's Low-and Moderate-Income Housing Special Revenue Fund. 13 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements,Continued (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, 1995 was $1,574,053. The City's total payroll for the year ended June 30, 1995 was$1,653,392. 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. The system 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 cn 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. 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, 1994. 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. 14 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued Net assets in excess of the pension benefit obligation applicable to the City's employees at June 30, 1994, 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 $ 158,404 Current employees: Accumulated employee contributions,including allocated investment earnings 555,921 Employer-financed vested 198,656 Employer-financed nonvested 64,933 Total pension benefit obligation 977,914 Net assets available for benefits, at cost (market value is $1,387,348) 1,387,348 Net assets in excess of pension benefit obligation $ 409,434 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. 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 1995 of$202,037(including$108,504 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, 1994. The contribution included $202,664 of normal cost (5.982% of current covered payroll) and $(627) of amortization of unfunded actuarial liability ((0.043)% of current covered payroll). 15 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued 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 six years ended June 30,1995 and is summarized as follows: 1995 1994 1993 1992 1991 1990 1989 Net assets available for benefits $ N/A 1,387,348 966,878 732,480 530,168 358,597 223,956 Pension benefit obligation N/A 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 141.86% 118.69% 116.36% 117.86% 117.25% 121.35% Net assets in excess of pension benefit obligation N/A 409,434 152,221 ' 102,973 80,329 52,766 39,405 Covered payroll 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 27.30% 11.79% 9.43% 8.17% 7.03% 6.66% Employer contribution as a percentage of covered payroll 6.04% 6.04% 6.29% 6.99% 7.78% 8.28% 8.44% N/A=Information is not available as of June 30, 1995. 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 30,1995 follows: Balance, Balance, July 1,1994 Additions Disposals June 30,1995 Land $ 10,136,926 313,099 — 10,450,025 Buildings and structures 3,612,236 — — 3,612,236 Improvements other than buildings 3,410,510 379,514 — 3,790,024 Office furniture and equipment 711,759 137,259 15,934 833,084 Other equipment 380,727 92,131 7,665 465,193 $ 18,252,158 922,003 23,599 19,150,562 (8) Fund Balances Designated Fund Balances The City has designated$500,000 of the fund balance of the State Gas Tax Special Revenue Fund to be used for reimbursement of a third party for the cost of certain road improvements. The City has designated$27,000 of the fund balance of the Park Development Fund for reimbursement of a third party for disputed work performed on the Arroyo Vista Community Park. The Agency has designated$8,412,248 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, 1995 is included in the following table. Operating Operating Due from Due to other transfers in transfers out other funds funds General Fund $ 56,435 146,797 147,700 12,161 Special Revenue Funds: State Gas Tax Fund 85,961 90,000 192,000 — Local Transportation Streets Fund — 2,420 — — Local Transportation Transit Fund 4,494 — — — CDBG Entitlement Fund — 50,000 — 144,759 Citywide Traffic Mitigation Fund — 39,309 — — Park Maintenance Fund 144,723 — — 2,941 Tierra Rejada/Spring Road AOC Fund — 85,961 — 192,000 Los Angeles Avenue AOC Fund 39,309 — — — Low-and Moderate-Income Housing Fund 202,244 — 12,161 — Capital Projects Funds: Equipment Replacement Fund 90,000 6,435 — — Redevelopment Agency Fund — 932,456 — — Debt Service Fund 730,212 — — — $ 1,353,378 1,353,378 351,861 351,861 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 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 $132,998 at June 30, 1995. 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 on May 31 of each year after 30 days notice has been given. The aggregate of these and other various contractual commitments total approximately$2,370,000 for the year ended June 30, 1995. The City has entered into an agreement with the California Department of Transportation (CalTrans) and a developer. Under the terms of this agreement, the City will purchase undeveloped property, trade it for similar property owned by CalTrans and then sell the traded property to a developer for an amount equal to the cost of the purchased undeveloped property. The purchase of the undeveloped property trade with CalTrans and sale of such property will occur simultaneously and will result in no net cash outlay by the City. 19 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued 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. (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. 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 is designed to assist in making low- and moderate-cost rental housing available in the City. The City is 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 are available under this program for a 30-year period. These bonds are secured by a letter of credit issued by Citibank, N.A., dated December 23, 1985. The program is administered by the Trustee, Security Pacific National Bank. Subsequent to year-end,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 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. 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. 20 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements,Continued (13) General Liability Insurance The City is self insured through the Southern California Joint Powers Insurance Authority, 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 member's payroll. A separate pool is set aside to cover losses from $1 million to $10 million. Coverages for 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, 1995 are as follows: Cash and investments $ 81,266,656 Member deposits receivable 12,794,673 Accrued interest receivable 795,763 Other assets 1,117,928 Total assets $ 95,975,020 Liabilities: Unearned member deposits $ 21,692,651 Accounts payable and accrued expenses 554,556 Total liabilities 22,247,207 Retained earnings, substantially reserved for future catastrophic losses 73,727,813 Total liabilities and retained earnings $ 95,975,020 21 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements,Continued Revenues: Member deposits earned $ 20,004,339 Interest income 4,585,018 Retrospective adjustments,net 43,601 Other 307,478 Total revenues 24,940,436 Costs and expenses: Incurred claims and other insurance costs 16,360,156 Contractual services 124,925 General and administrative expenses 1,056,499 Capital expenditures 55,655 Total costs and expenses 17,597,235 Net income 7,343,201 Retained earnings,July 1, 1994 66,384,612 Retained earnings,June 30, 1995 $ 73,727,813 (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. 22 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements, Continued Seven properties in the assessment district, which had been zoned for commercial use prior to the City's incorporation, are currently used for residential or agricultural purposes. The City has advanced the full amount of the assessment on these properties from the Los Angeles Avenue Area of Contribution Special Revenue Fund to the paying agent, $1,219,158, 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,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 purposes financial statements. 23 SUPPLEMENTARY INFORMATION SPECIAL REVENUE FUNDS Schedule 1 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds June 30,1995 with comparative total figures at June 30,1994 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 $ 20,173 1,430,380 1,987,111 1,169,211 74,898 123,574 Restricted cash and investments - - - - - 2,069 Accounts and interest receivable,net 9,723 42,618 36,026 15,334 46,812 - Due from other funds - 192,000 - - - - Land held for resale - - - - - - Total assets $ 29,896 1,664,998 2,023,137 1,184,545 121,710 125,643 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ 6,375 124,760 132,039 - 68,407 - Due to other funds - - - - - - Deferred revenue - - - 10,492 53,303 - Total liabilities 6,375 124,760 132,039 10,492 121,710 - Fund balances: Reserved for receivables due after one year - - - - - - Reserved for low/moderate income housing - - - - - - Reserved for land held for resale - - - - - - Unreserved: Designated - 500,000 27,000 - - - Undesignated 23,521 1,040,238 1,864,098 1,174,053 - 125,643 Total fund balances 23,521 1,540,238 1,891,098 1,174,053 - 125,643 Total liabilities and fund balances $ 29,896 1,664,998 2,023,137 1,184,545 121,710 125,643 (Continued) 24 Schedule 1-2 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds,Continued June 30,1995 with comparative total figures at June 30,1994 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 $ - 57,007 - 473,409 716,726 229,094 Restricted cash and investments - - - - - - Accounts and interest receivable,net - 729 193,587 - 11,623 74,805 Due from other funds - - - - - - Land held for resale - - - - - 164,801 Total assets $ - 57,736 193,587 473,409 728,349 468,700 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ - - 39,218 - - - Due to other funds - - 144,759 - - - Deferred revenue - - - - - - Total liabilities - - 183,977 - - - Fund balances: Reserved for receivables due after one year - - - - - 70,234 Reserved for low/moderate income housing - - - - -- Reserved for land held for resale - - - - - 164,801 Unreserved: Designated - - - - - - Undesignated - 57,736 9,610 473,409 728,349 233,665 Total fund balances - 57,736 9,610 473,409 728,349 468,700 Total liabilities and fund balances $ - 57,736 193,587 473,409 728,349 468,700 (Continued) 25 Schedule 1-3 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds,Continued June 30,1995 with comparative total figures at June 30,1994 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 $ 234,361 416,218 46,990 812,440 5,857,301 42,827 Restricted cash and investments - - - - - - Accounts and interest receivable,net 18,615 6,410 12,452 14,834 1,363,747 717 Due from other funds - - - - - - Land held for resale - - - - - - Total assets $ 252,976 422,628 59,442 827,274 7,221,048 43,544 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ 60,214 - 56,501 106,914 24,258 - Due to other funds - - 2,941 192,000 - - Deferred revenue - - - - 32,218 - Total liabilities 60,214 - 59,442 298,914 56,476 - Fund balances: Reserved for receivables due after one year - - - - 1,219,158 Reserved for low/moderate income housing - - - - - Reserved for land held for resale - - - - - - Unreserved: Designated - - - - - - Undesignated 192,762 422,628 - 528,360 5,945,414 43,544 Total fund balances 192,762 422,628 528,360 7,164,572 43,544 Total liabilities and fund balances $ 252,976 422,628 59,442 827,274 7,221,048 43,544 (Continued) 26 Schedule 1-4 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds,Continued June 30,1995 with comparative total figures at June 30,1994 Low-and Community Crossing Moderate- Development Guard Income Housing Totals Assets Fund(41) Fund(43) Fund 1995 1994 Cash and investments $ 412,205 102,848 - 14,206,773 14,266,134 Restricted cash and investments - - 638,910 640,979 434,992 Accounts and interest receivable,net - 1,891 17,774 1,867,697 1,823,234 Due from other funds - - 12,161 204,161 192,000 Land held for resale - - 1,500,000 1,664,801 1,500,000 Total assets $ 412,205 104,739 2,168,845 18,584,411 18,216,360 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ 320,758 - - 939,444 965,261 Due to other funds - - - 339,700 212,260 Deferred revenue - - - 96,013 75,192 Total liabilities 320,758 - -- 1,375,157 1,252,713 Fund balances: Reserved for receivables due after one year - - - 1,289,392 1,355,626 Reserved for low/moderate income housing - - 668,845 668,845 448,827 Reserved for land held for resale - - 1,500,000 1,664,801 1,500,000 Unreserved: Designated - - - 527,000 527,000 Undesignated 91,447 104,739 - 13,059,216 13,132,194 Total fund balances 91,447 104,739 2,168,845 17,209,254 16,963,647 Total liabilities and fund balances $ 412,205 104,739 2,168,845 18,584,411 18,216,360 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 30,1995 with comparative total figures for the year ended June 30,1994 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 $ - 489,990 - - - - Building and safety fees - - - - - - Maintenance assessments - - - - - - Subventions and grants 2,943 279 - 258,857 192,465 - Planning and public works fees - - - - - Park development fees - - 7,036 - Charges for current services - - 10,876 - 8,165 - Fines and forfeitures 36,967 - - - - - Interest 1,101 89,528 124,444 55,027 4,301 - Other 1,969 109,280 7,438 - 55 7,243 Total revenues 42,980 689,077 149,794 313,884 204,986 7,243 Expenditures Current: General govemment - - - - - - Public safety 1,743 - - - Public services 30,331 566,611 - 1,292 149,457 - Parks and recreation - - 15,947 - - - Capital outlay 13,566 527,947 381,866 - 60,023 - Total expenditures 45,640 1,094,558 397,813 1,292 209,480 - Excess(deficiency)of reve- nues over expenditures (2,660) (405,481) (248,019) 312,592 (4,494) 7,243 Other financing sources(uses). Operating transfers in - 85,961 - - 4,494 - Operating transfers out - (90,000) - (2,420) - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) - (4,039) - (2,420) 4,494 - Excess(deficiency)of revenues and other sources over expenditures and other uses (2,660) (409,520) (248,019) 310,172 - 7,243 Fund balances,July 1 26,181 1,949,758 2,139,117 863,881 - 118,400 Residual equity transfers out - - - - - - Fund balances,June 30 5 23,521 1,540,238 1,891,098Y 1,174,053 - 125,643 (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 30,1995 with comparative total figures for the year ended June 30,1994 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 - - - 16,413 - - Maintenance assessments - - - - 36,000 - Subventions and grants - 41,000 280,103 - - - Planning and public works fees - - - - - Park development fees - - - - - - Charges for current services - - - - - 5,500 Fines and forfeitures - - - - Interest - 2,779 - - 40,643 21,117 Other - - - - - 34,118 Total revenues - 43,779 280,103 16,413 76,643 60,735 Expenditures: Current General government - - - 1,891 - - Public safety - - 13,007 - - - Public services - - 34,684 - 2,328 22,535 Parks and recreation - - - - - - Capital outlay - - 232,412 14,890 - 36,223 Total expenditures - - 280,103 16,781 2,328 58,758 Excess(deficiency)of reve- nues over expenditures - 43,779 - (368) 74,315 1,977 Other financing sources(uses) Operating transfers in - - - - - Operating transfers out - - (50,000) - (39,309) - Proceeds from sale of City property - - - - - 181,272 Total other financing sources(uses) - - (50,000) - (39,309) 181,272 Excess(deficiency)of revenues and other sources over expenditures and other uses - 43,779 (50,000) (368) 35,006 183,249 Fund balances,July 1 - 13,957 59,610 473,777 693,343 285,451 Residual equity transfers out - - - - - - Fund balances,June 30 $ - 57,736 9,610 473,409 728,349 468,700 (Continued) 29 Schedule 2-3 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances-All Special Revenue Funds,Continued Year ended June 30,1995 with comparative total figures for the year ended June 30,1994 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 434,158 101,331 360,467 - 6,055 - Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services 5,004 - - - - - Fines and forfeitures - - - - - - Interest 668 22,990 632 51,709 350,356 2,512 Other 6,549 - 35,790 - - - Total revenues 446,379 124,321 396,889 51,709 356,411 2,512 Expenditures: Current: General government - - - - - - Public safety - - - - - - Public services 357,792 252 - 430 2,109 - Parks and recreation - - 535,204 - - - Capital outlay 120,352 - 6,408 4,565 210,184 - Total expenditures 478,144 252 541,612 4,995 212,293 - Excess(deficiency)of reve- nues over expenditures (31,765) 124,069 (144,723) 46,714 144,118 2,512 Other financing sources(uses): Operating transfers in - - 144,723 - 39,309 - Operating transfers out - - - (85,961) - - Proceeds from sale of City property - - - - - --- Total other financing sources(uses) - - 144,723 (85,961) 39,309 - Excess(deficiency)of revenues and other sources over expenditures and other uses (31,765) 124,069 - (39,247) 183,427 2,512 Fund balances,July 1 224,527 298,559 - 567,607 6,981,145 41,032 Residual equity transfers out - - - - - - Fund balances,June 30 $ 192,762 422,628 - 528,360 7,164,572 43,544 (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 30,1995 with comparative total figures for the year ended June 30,1994 Low-and Community Crossing Moderate- Development Guard Income Housing Totals Fund(41) Fund(43) Fund 1995 1994 Revenues: Other taxes $ - - - 489,990 481,502 Building and safety fees 488,136 - - 504,549 31,534 Maintenance assessments - - - 938,011 3,557,689 Subventions and grants - - - 775,647 1,946,258 Planning and public works fees 496,183 - - 496,183 1,076,659 Park development fees - - - 7,036 202,270 Charges for current services - - - 29,545 130,005 Fines and forfeitures - - - 36,967 43,408 Interest - 6,609 17,774 792,190 725,871 Other 54,042 656 - 257,140 272,166 Total revenues 1,038,361 7,265 17,774 4,327,258 8,467,362 Expenditures: Current: General government - - - 1,891 82,134 Public safety - - - 14,750 121,061 Public services 1,104,343 10,110 - 2,282,274 2,716,299 Parks and recreation - - - 551,151 571,668 Capital outlay 11,940 1,522 - 1,621,898 7,446,931 Total expenditures 1,116,283 11,632 - 4,471,964 10,938,093 Excess(deficiency)of reve- nues over expenditures (77,922) (4,367) 17,774 (144,706) (2,470,731) Other financing sources(uses): Operating transfers in - - 202,244 476,731 472,290 Operating transfers out - - - (267,690) (37,353) Proceeds from sale of City property - - - 181,272 - Total other financing sources(uses) - - 202,244 390,313 434,937 Excess(deficiency)of revenues and other sources over expenditures and other uses (77,922) (4,367) 220,018 245,607 (2,035,794) Fund balances,July 1 169,369 109,106 1,948,827 16,963,647 19,057,769 Residual equity transfers out - - - - (58,328) Fund balances,June 30 $ 91,447 104,739 2,168,845 17,209,254 16,963,647 See accompanying independent auditors'report. 31 . ..edule 3 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1995 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 $ - - - 475,841 489,990 14,149 Building and safety fees - - - - - - Maintenance assessments - - - - Subventions and grants 4,000 2,943 (1,057) - 279 279 Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures 50,000 36,967 (13,033) - - - Interest 5,000 1,101 (3,899) 90,000 89,528 (472) Other - 1,969 1,969 4,000 109,280 105,280 Total revenues 59,000 42,980 (16,020) 569,841 689,077 119,236 Expenditures: Current: General government - - - - - - Public safety 4,000 1,743 2,257 - - - Public services 45,259 30,331 14,928 680,562 566,611 113,951 Parks and recreation - - - - - - Capital outlay 13,566 13,566 - 899,118 527,947 371,171 Total expenditures 62,825 45,640 17,185 1,579,680 1,094,558 485,122 Excess(deficiency)of reve- nues over expenditures (3,825) (2,660) 1,165 (1,009,839) (405,481) 604,358 Other financing sources(uses): Operating transfers in - - - - 85,961 85,961 Operating transfers out - - - (90,000) (90,000) - Proceeds from sale of City property - - - - - - Total other financing sources(uses) - - - (90,000) (4,039) 85,961 Excess(deficiency)of revenues and other sources over expenditures and other uses (3,825) (2,660) 1,165 (1,099,839) (409,520) 690,319 Fund balances,July 1 26,181 26,181 - 1,949,758 1,949,758 - Fund balances,June 30 $ 22,356 23,521 1,165 849,919 1,540,238 690,319 (Continued) 32 . Jule 3-2 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1995 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 S — — — — — — Building and safety fees — — — — — — Maintenance assessments — — — — — — Subventions and grants — — — 343,048 258,857 (84,191) Planning and public works fees — — — — — — Park development fees — 7,036 7,036 — — — Charges for current services — 10,876 10,876 — — — Fines and forfeitures — — — — — — Interest 150,000 124,444 (25,556) — 55,027 55,027 Other — 7,438 7,438 — — — Total revenues 150,000 149,794 (206) 343,048 313,884 (29,164) Expenditures: Current: General government — — — — — — Public safety — — — — — — Public services — — — — 1,292 (1,292) Parks and recreation — 15,947 (15,947) — — — Capital outlay 1,902,791 381,866 1,520,925 — — — Total expenditures 1,902,791 397,813 1,504,978 — 1,292 (1,292) Excess(deficiency)of reve- nues over expenditures (1,752,791) (248,019) 1,504,772 343,048 312,592 (30,456) Other financing sources(uses): Operating transfers in — — — — — — Operating transfers out — — — (2,420) (2,420) — Proceeds from sale of City property — — — — — — Total other financing sources(uses) — — — (2,420) (2,420) — Excess(deficiency)of revenues and other sources over expenditures and other uses (1,752,791) (248,019) 1,504,772 340,628 310,172 (30,456) Fund balances,July 1 2,139,117 2,139,117 — 863,881 863,881 — Fund balances,June 30 5 386,326 1,891,098 1,504,772 1,204,509 1,174,053 (30,456) (Continued) 33 S..,edule 3-3 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1995 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 163,186 192,465 29,279 - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services 8,500 8,165 (335) - - - Fines and forfeitures - - - - - - Interest 14,000 4,301 (9,699) - - - Other - 55 55 - 7,243 7,243 Total revenues 185,686 204,986 19,300 - 7,243 7,243 Expenditures: Current General government - - - - - - Public safety - - - - - - Public services 169,950 149,457 20,493 - - - Parks and recreation - - - - - Capital outlay 60,029 60,023 6 - - - Total expenditures 229,979 209,480 20,499 - - - Excess(deficiency)of reve- nues over expenditures (44,293) (4,494) 39,799 - 7,243 7,243 Other financing sources(uses): Operating transfers in 11,420 4,494 (6,926) - - - Operating transfers out (3,282) - 3,282 - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) 8,138 4,494 (3,644) - - - Excess(deficiency)of revenues and other sources over expenditures and other uses (36,155) - 36,155 - 7,243 7,243 Fund balances,July 1 - - - 118,400 118,400 - Fund balances,June 30 $ (36,155) - 36,155 118,400 125,643 7,243 (Continued) 34 S. .Jule 3-4 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1995 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 300,000 — (300,000) 41,000 41,000 — Planning and public works fees — — — — — — Park development fees — — — — — — Charges for current services — — — — — — Fines and forfeitures — — — — — — Interest — — — 4,000 2,779 (1,221) Other — — — — — — Total revenues 300,000 — (300,000) 45,000 43,779 (1,221) Expenditures: Current: General government — — — — — — Public safety — — — — — — Public services — — — — — — Parks and recreation — — — — — — Capital outlay 300,000 — 300,000 — — — Total expenditures 300,000 — 300,000 — — — Excess(deficiency)of reve- nues over expenditures — — — 45,000 43,779 (1,221) Other financing sources(uses): Operating transfers in — — — — Operating transfers out — — — — — — Proceeds from sale of City property — — — — — — Total other financing sources(uses) — — — — — — Excess(deficiency)of revenues and other sources over expenditures and other uses — — — 45,000 43,779 (1221) Fund balances,July 1 — — — 13,957 13,957 — Fund balances,June 30 $ — — — 58,957 57,736 1,221) (Continued) 35 ule 3-5 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1995 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 - - - 7,600 16,913 8,813 Maintenance assessments - - - - - - Subventions and grants 358,365 280,103 (78,262) - - - Planning and public works fees - - - - - - Park development fees - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest - - - - - - Other - - - - Total revenues 358,365 280,103 (78,262) 7,600 16,413 8,813 Expenditures: Current: General government - - - 1,900 1,891 9 Public safety 18,165 13,007 5,158 - - - Public services 86,290 34,684 51,606 - - - Parks and recreation - - - - - - Capital outlay 253,910 232,412 21,998 17,400 14,890 2,510 Total expenditures 358,365 280,103 78,262 19,300 16,781 2,519 Excess(deficiency)of reve- nues over expenditures - - - (11,700) (368) 11,332 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - (50,000) (50,000) - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) - ( 0,0(k) (50,000) - - - Excess(deficiency)of revenues and other sources over expenditures and other uses - (50,000) (50,000) (11,700) (368) 11,332 Fund balances,July 1 59,610 59,610 - 473,777 473,777 - Fund balances,June 30 $ 59,610 9,610 (50,000) 462,077 473,409 11,332 i. (Continued) 36 ule 3-6 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1995 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 - 36,000 36,000 - - - Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - 5,500 5,500 Fines and forfeitures - - - - - - Interest 18,000 40,643 22,643 12,000 21,117 9,117 Other - - - 15,000 34,118 19,118 Total revenues 18,000 76,643 58,643 27,000 60,735 33,735 Expenditures. Current: General government - - - - - - Public safety - - - - Public services - 2,328 (2,328) 22,535 (22,535) Parks and recreation - - - - Capital outlay - - - 37,355 36,223 1,132 Total expenditures - 2,328 (2,328) 37,355 58,758 (21,403) Excess(deficiency)of reve- nues over expenditures 18,000 74,315 56,315 (10,355) 1,977 12,332 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out (22,800) (39,309) (16,509) (6,160) - 6,160 Proceeds from sale of City property - - - - 181,272 181,272 Total other financing sources(uses) (22,800) (39,309) (16,509) (6,160) 181,272 187,432 Excess(deficiency)of revenues and other sources over expenditures and other uses (4,800) 35,006 39,806 (16,515) 183,249 199,764 Fund balances,July 1 693,343 693,343 - 285,451 285,451 - Fund balances,June 30 $ 688,543 728,349 39,806 268,936 468,700 199,764 (Continued) 37 ule 3-7 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1995 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 430,150 434,158 4,008 - 101,331 101,331 Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - 5,004 5,004 - - - Fines and forfeitures - - - - - - Interest 1,200 668 (532) 7,000 22,990 15,990 Other - 6,549 6,549 - - - Total revenues 431,350 446,379 15,029 7,000 124,321 117,321 Expenditures: Current General government - - - - - - Public safety - - - - - - Public services 404,787 357,792 46,995 - 252 (252) Parks and recreation - - - - - - Capital outlay 205,143 120,352 84,791 - - - Total expenditures 609,930 478,144 131,786 - 252 (252) Excess(deficiency)of reve- nues over expenditures (178,580) (31,765) 146,815 7,000 124,069 117,069 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - - - - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) - - - - - - Excess(deficiency)of revenues and other sources over expenditures and other uses (178,580) (31,765) 146,815 7,000 124,069 117,069 Fund balances,July 1 224,527 224,527 - 298,559 298,559 - Fund balances,June 30 $ 45,947 192,762 146,815 305,559 422,628 _ 117,069 (Continued) 38 ule 3-8 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1995 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 5 - - - - - - Building and safety fees - - - - - - Maintenance assessments 357,200 360,467 3,267 200,000 - (200,000) Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest 1,000 632 (368) 27,000 51,709 24,709 Other - 35,790 35,790 - - - Total revenues 358,200 396,889 38,689 227,000 51,709 (175,291) Expenditures. Current: General government - - - - - - Public safety - - - - Public services - - - - 430 (430) Parks and recreation 500,981 535,204 (34,223) - - - Capital outlay 6,608 6,408 200 200,000 4,565 195,435 Total expenditures 507,589 541,612 (34,023) 200,000 4,995 195,005 Excess(deficiency)of reve- nues over expenditures (149,389) (144,723) 4,666 27,000 46,714 19,714 Other financing sources(uses): Operating transfers in 141,781 144,723 2,942 - - - Operating transfers out - - - - (85,961) (85,961) Proceeds from sale of City property - - - - - - Total other financing sources(uses) 141,781 144,723 2,942 - (85,961) (85,961) Excess(deficiency)of revenues and other sources over expenditures and other uses (7,608) - 7,608 27,000 (39,247) (66,247) Fund balances,July 1 - - - 567,607 567,607 - Fund balances,June 30 5 (7,608) - 7,608 594,607 528,360 (66,247) (Continued) 39 ule 3-9 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1995 Los Angeles Avenue AOC Fund(27) Casey/Gabbert Road AOC Fund 128) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - Building and safety fees - - - - - Maintenance assessments - 6,055 6,055 - - - Subventions and grants - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest 250,000 350,356 100,356 1,400 2,512 1,112 Other 300,000 - (300,000) - - - Total revenues 550,000 356,411 (193,589) 1,4(X) 2,512 1,112 Expenditures: Current: General government - - - - - - Public safety - - - - - - Public services - 2,109 (2,109) - - - Parks and recreation - - - - - - Capital outlay 2,586,132 210,184 2,375,948 - - - Total expenditures 2,586,132 212,293 2,373,839 - - - Excess(deficiency)of reve- nues over expenditures (2,036,132) 144,118 2,180,250 1,400 2,512 1,112 Other financing sources(uses): Operating transfers in - 39,309 39,309 - - - Operating transfers out - - - - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) - 39,309 39,309 - - - Excess(deficiency)of revenues and other sources over expenditures and other uses (2,036,132) 183,427 2,219,559 1,400 2,512 1,112 Fund balances,July 1 6,981,145 6,981,145 - 41,032 41,032 - Fund balances,June 30 $ 4,945,013 7,164,572 2,219,559 42,432 43,544 1,112 (Continued) 40 Ilea-10 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1995 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 368,037 488,136 120,099 - - - Maintenance assessments - - - - - - Subventions and grants - - - - - - l9anrung and public works fees 480,900 496,183 15,283 - Park development fees - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest - - - 5,000 6,609 1,609 Other 172,636 54,042 (118,594) - 656 656 Total revenues 1,021,573 1,038,361 16,788 5,000 7,265 2,265 Expenditures: Current. General government - - - - - - Public safety - - - - - - Public services 1,179,598 1,104,343 75,255 15,345 10,110 5,235 Parks and recreation - - - - - - Capital outlay 13,477 11,940 1,537 1,522 1,522 - Total expenditures 1,193,075 1,116,283 76,792 16,867 11,632 5,235 Excess(deficiency)of reve- nues over expenditures (171,502) (77,922) 93,580 (11,867) (4,367) 7,500 Other financing sources(uses). Operating transfers in 28,960 - (28,960) - - Operating transfers out - - - - - - Proceeds from sale of City property - - - - - - Total other financing sources(uses) 28,960 - (28,960) - - - Excess(deficiency)of revenues and other sources over expenditures and other uses (142,542) (77,922) 64,620 (11,867) (4,367) 7,500 Fund balances,July 1 169,369 169,369 - 109,106 109,106 - Fund balances,June 30 $ 26,827 91,447 64,620 97,239 104,739 7,500 (Continued) 41 Ile 3-11 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1995 Low-and Moderate-Income Housing Fund Total Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes 5 - - - 475,841 489,990 14,149 Building and safety fees - - - 375,637 504,549 128,912 Maintenance assessments - - - 987,350 938,011 (49,339) Subventions and grants - - - 1,209,599 775,647 (433,952) Planning and public works fees - - - 480,900 496,183 15,283 Park development fees - - - - 7,036 7,036 Charges for current services - - - 8,500 29,545 21,045 Fines and forfeitures - - - 50,000 36,967 (13,033) Interest - 17,774 17,774 585,600 792,190 206,590 Other - - - 491,636 257,140 (234,496) Total revenues - 17,774 17,774 4,665,063 4,327,258 (337,805) Expenditures: Current General government 102,297 - 102,297 104,197 1,891 102,306 Public safety - - - 22,165 14,750 7,415 Public services - - - 2,581,791 2,282,274 299,517 Parks and recreation - - - 500,981 551,151 (50,170) Capital outlay - - - 6,497,051 1,621,898 4,875,153 Total expenditures 102,297 - 102,297 9,706,185 4,471,964 5,234,221 Excess(deficiency)of reve- nues over expenditures (102,297) 17,774 120,071 (5,041,122) (144,706) 4,896,416 Other financing sources(uses): Operating transfers in - 202,244 202,244 182,161 476,731 294,570 Operating transfers out - - - (124,662) (267,690) (143,028) Proceeds from sale of City property - - - - 181,272 181,272 Total other financing sources(uses) - 202,244 202,244 57,499 390,313 332,814 Excess(deficiency)of revenues and other sources over expenditures and other uses (102,297) 220,018 322,315 (4,983,623) 245,607 5,229,230 Fund balances,July 1 1,948,827 1,948,827 - 16,963,647 16,963,647 - Fund balances,June 30 $ 1,846,530 2,168,845 322,315 11,980 024 17 209,254 5,229,230 42 CAPITAL PROJECTS FUNDS Schedule 4 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet—All Capital Projects Funds June 30,1995 with comparative total figures at June 30, 1994 Equipment City Hall Replacement Redevelopment Totals Assets Building Fund Fund Agency Fund 1995 1994 Cash and investments $ 203,470 174,975 8,418,620 8,797,065 10,058,781 Accounts and interest receivable,net — 1,798 69,388 71,186 56,612 Taxes receivable — — 19,411 19,411 18,868 Land held for resale — — 3,502,175 3,502,175 3,502,175 Total assets $ 203,470 176,773 12,009,594 12,389,837 13,636,436 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ — 2,594 95,171 97,765 106,370 Notes payable — — — — 1,350,000 Total liabilities — 2,594 95,171 97,765 1,456,370 Fund balances: Reserved for land held for resale — — 3,502,175 3,502,175 3,502,175 Unreserved: Designated for capital projects — — 8,412,248 8,412,248 8,380,254 Undesignated 203,470 174,179 — 377,649 297,637 Total fund balances 203,470 174,179 11,914,423 12,292,072 12,180,066 Total liabilities and fund balances $ 203,470 176,773 12,009,594 12,389,837 13,636,436 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 30,1995 with comparative total figures for the year ended June 30,1994 Equipment City Hall Replacement Redevelopment Totals Building Fund Fund Agency Fund 1995 1994 Revenues: Property taxes $ - - 1,564,946 1,564,946 1,229,383 Charged for current services - - 57,630 57,630 38,957 Interest - 6,415 398,834 405,249 428,610 Other - 6,965 - 6,965 740 Total revenues - 13,380 2,021,410 2,034,790 1,697,690 Expenditures: Current-general government - - 456,961 456,961 550,126 Capital outlay - 16,933 500,981 517,914 1,406,450 Debt service: Principal retirement - - 874,544 874,544 - Interest expense - - 41,326 41,326 70,580 Total expenditures - 16,933 1,873,812 1,890,745 2,027,156 Excess(deficiency)of revenues over expenditures - (3,553) 147,598 144,045 (329,466) Other financing sources(uses): Operating transfers in - 90,000 - 90,000 3,079 Operating transfers out (6,435) (932,456) (938,891) (596,946) Proceeds of advances from General Fund - - 816,852 816,852 4,374,544 Total other financing sources(uses) - 83,565 (115,604) (32,039) 3,780,677 Excess of revenues and other sources over expenditures - 80,012 31,994 112,006 3,451,211 Fund balances,July 1 203,470 94,167 11,882,429 12,180,066 8,728,855 Fund balances,June 30 $ 203,470 174,179 11,914,423 12,292,072 12,180,066 See accompanying independent auditors'report. 44 Schedule 6 CITY OF MOORPARK,CALIFORNIA Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual on the Budgetary Basis Redevelopment Capital Projects Fund Year ended June 30,1995 Actual Variance- (budgetary favorable Budget basis) (unfavorable) Revenues: Property taxes $ — 1,564,946 1,564,946 Charged for current services — 57,630 57,630 Interest — 398,834 398,834 Total revenues — 2,021,410 2,021,410 Expenditures: General government 317,934 456,961 (139,027) Capital outlay 925,860 500,981 424,879 Debt service: Principal retirement — 874,544 (874,544) Interest expense 300,000 41,326 258,674 Total expenditures 1,543,794 1,873,812 (330,018) Excess(deficiency)of revenues over expenditures (1,543,794) 147,598 1,691,392 Other financing sources(uses): Operating transfers out (576,839) (932,456) (355,617) Proceeds of advances to Agency from City 1,425,009 816,852 (608,157) Total other financing sources(uses) 848,170 (115,604) (963,774) Excess(deficiency)of revenues and other sources over expenditures and other uses (695,624) 31,994 727,618 Fund balance,July 1 11,882,429 11,882,429 — Fund balance,June 30 $ 11,186,805 11,914,423 727,618 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 30,1995 Balance, Balance, July 1,1994 Additions Deletions June 30,1995 Developer Deposit Fund(39) Cash and investments $ 883,163 1,441,739 (1,427,132) 897,770 Accounts receivable 88,182 - (88,182) - $ 971,345 1,44],739 (1,515,314) 897,770 Accounts payable and accrued liabilities $ 118,503 1,001,077 (897,680) 221,900 Developer deposits 852,842 1,172,569 (1,349,541) 675,870 5 971,345 2,173,646 (2,247,221) 897,770 Deferred Compensation Fund(99) Cash and investments $ 74,047 63,997 (5,046) 132,998 $ 74,047 63,997 (5,046) 132,998 Due to participants $ 74,047 63,997 (5,046) 132,998 5 74,047 63,997 (5,046) 132,998 Total-All Agency Funds Cash and investments $ 957,210 1,505,736 (1,432,178) 1,030,768 Accounts receivable 88,182 - (88,182) - 5 1,045,392 1,505,736 (1,520,360) 1,030,768 Accounts payable and accrued liabilities $ 118,503 1,001,077 (897,680) 221,900 Developer deposits 852,842 1,172,569 (1,349,541) 675,870 Due to participants 74,047 63,997 (5,046) 132,998 5 1,045,392 2,237,643 (2,252,267) 1,030,768 See accompanying independent auditors'report. 46