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Home My WebLink AboutACFR 1994 KPMG Peat Marwick CITY OF MOORPARK, CALIFORNIA Annual Financial Report June 30,1994 (With Independent Auditors' Report Thereon) CITY OF MOORPARK,CALIFORNIA Table of Contents Schedule Page Report of Independent Auditors 1 General Purpose Financial Statements at June 30, 1994 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 (Note 2)-General, Special Revenue and Certain Capital Projects Funds 4 Notes to General Purpose Financial Statements 6 Supplementary Information-Combining Financial Statements at June 30,1994 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,Expenditures and Changes 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 S ; { --- Ma 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, 1994 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. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining,on a test basis,evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management,as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Moorpark,California as of June 30, 1994 and the results of its operations for the year then ended in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining financial statements listed as additional financial information in the 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. October 14,1994 1 ,tho [,. Member Firm of Klynvetd Peat Marwick Goerdeler GENERAL PURPOSE FINANCIAL STATEMENTS CITY OF MOORPARK,CALIFORNIA Combined Balance Sheet-All Fund Types and Account Groups June 30,1994 with comparative total figures at June 30,1993 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 1994 1993 Cash and investments(note 3) S 461,833 14,266,134 - 10,058,781 957,210 - - 25,743,958 31,208,976 Restricted cash and investments(note 3) - 434,992 813,118 - - - - 1,248,110 2618,112 Accounts and interest receivable,net(note 14) 292605 1,823,234 - 56,612 88,182 - - 2,260,633 2,125,661 Taxes receivable - - - 18,868 - - - 18,868 7,114 Due from other funds(note 9) 20,260 192,000 - - 212,260 192,000 Long-term advance to Redevelopment Agency 4,374,544 - - - - - - 4,374,544 2,340,467 Other assets - - - - - - - - 102,616 Land held for resale - 1,500,000 - 3,502,175 - - - 5,002,175 - Property and equipment(note 7) - - - - - 17,294,590 - 17,294,590 12,865,647 Amount available for debt service - - - - - - 813,118 813,118 810,761 Amount to be provided for retirement of long-term debt - - - - _ - - 13,561,426 13,561,426 9,189,239 Total assets $ 5,149,242 18,216,360 813,118 13,636,436 1,045,392 17,294,590 14,374,544 70,529,682 61,460,593 Liabilities,Fund Balances and Other Credits Liabilities: Accounts payable and accrued liabilities $ 807,505 965,261 - 106,370 118,503 - - 1,997,639 2,072,735 Note payable - - - 1,350,000 - - - 1,350,000 - Deposits,principally from developers - - - - 852,842 852,842 669,390 Due to other funds(note 9) - 212,260 - - - - - 212,260 192,000 Deferred revenue 22,571 75,192 - - - - - 97,763 436,009 Due to participants - - - - 74,047 74,047 51,074 Long-term advance from General Fund(note 4) - - - - - - 4,374,544 4,374,544 2,340,467 Tax allocation bonds payable(note 4) - - - - 10,000,000 10,000,000 10,000,000 Total liabilities 830,076 1,252,713 - 1,456,370 1,045,392 - 14,374,544 18,959,095 15,761,675 Fund balances(deficit)and other credits: Investment in general fixed assets - - 17,294,590 - 17,294,590 12,865,647 Fund balances: Reserved for receivables due after one year,net - 1,355,626 - - - - - 1,355,626 1,361,310 Reserved for land held for resale - 1,500,000 - 3,502175 - - - 5,002,175 - Reserved for debt service - - 813,118 - - - - 813,118 810,761 Reserved for low/moderate income housing(note 5) - 448,827 - - - - - 448,827 1,784,860 Reserved for advances to Redevelopment Agency 4,374,544 - - - - 4,374,544 2,340,467 Unreserved: Designated(note 8) - 527,000 - 8,380,254 - - - 8,907,254 9,584,261 Undesignated(deficit) (55,378) 13,132,194 - 297,637 - - - 13,374,453 16,951,612 Total fund balances and other credits 4,319,166 16,963,647 813,118 12,180,066 - 17,294,590 - 51,570,587 45,698,918 Commitments and contingencies(notes 6,11,12 and 13) Total liabilities,fund balances and other credits S 5,149,242 18,216,360 813,118 13,636,436 1,045,392 17,294,590 14,374544 70,529,682 61,460,593 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 30,1994 with comparative total figures for the year ended June 30,1993 Governmental Fund Types Totals Special Debt Service Capital (memorandum only) General Fund Revenue Funds Fund Protects Funds 1994 1993 Revenues: Property taxes S 1;214,292 - - 1,229,383 2,443,675 2,576,153 Sales taxes 944,313 - - - 944,313 881,069 Other taxes 32,761 481,502 - - 514,263 479,843 Motor vehicle license fees 934,924 - - - 934,924 974,891 Utility franchise fees 433,132 - - - 433,132 430,523 Building and safety fees - 31,534 - - 31,534 27,454 Maintenance assessments 34,549 3,557,689 - - 3,592238 1,811,483 Subventions and grants 20,085 1,946,258 - - 1,966,343 1,007,752 Planning and public works fees 38,780 1,076,659 - - 1,115,439 1,648,927 Park development fees - 202270 - - 202,270 75,493 Charges for current services 19,226 130,005 - 38,957 188,188 153,102 Fines and forfeitures 58,632 43,408 102,040 95,396 Interest 166,151 725,871 36,047 428,610 1,356,679 1,215,263 Other 563,754 272,166 2,000 740 838,660 198,181 Total revenues 4,460,599 8,467,362 38,047 1,697,690 14,663,698 11,575,530 Expenditures: Current: General government 870,244 82,134 - 550,126 1,502,504 1,251,186 Public safety 2296,854 121,061 - - 2,417,915 2,220,034 Public services 197,214 2,716,299 - - 2,913,513 2,609,431 Parks and recreation 417,814 571,668 989,482 706,997 Capital outlay 364,692 7,446,931 - 1,406,450 9,218,073 3,771,079 Debt service: Interest expense - - 483,449 70,580 554,029 99,714 Bond issuance costs - - - - 26,700 Total expenditures 4,146,818 10,938,093 483,449 2,027,156 17,595,516 10,685,141 Excess(deficiency)of revenues over expenditures 313,781 (2,470,731) (445,402) (329,466) (2,931,818) 890,389 Other financing sources(uses): Operating transfers in(note 9) - 472,290 447,759 3,079 923,128 451,274 Operating transfers out(note 9) (288,829) (37,353) - (596,946) (923,128) (451,274) Developer in-lieu fee - - - - - 932,701 Proceeds from issuance of tax allocation bonds - - - - - 9,757,552 Proceeds from long-term advances from General Fund - - - 4,374,544 4,374,544 - Total other financing sources(uses) (288,829) 434,937 447,759 3,780,677 4,374,544 10,690,253 Excess(deficiency)of revenues and other sources over expenditures and other uses 24,952 (2,035,794) 2,357 3,451,211 1,442,726 11,580,642 Fund balances,July 1 4,235,886 19,057,769 810,761 8,728,855 32,833,271 21,252,629 Residual equity transfers in(note 9) 58,328 - - - 58,328 2,169,249 Residual equity transfers out(note 9) - (58,328) - _ - (58,328) (2,169,249) Fund balances,June 30 $ 4,319,166 16,963,647 813,118 12,180,066 34,275,997 32,833,271 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 30,1994 General Fund Special Revenue Funds Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Property taxes $ 1,299500 1,214,292 (85,208) - - - Sales taxes 975,000 944,313 (30,687) - - - Other taxes 31,000 32,761 1,761 471,900 481,502 9,602 Motor vehicle license fees 900,000 934,924 34,924 - Utility franchise fees 458,000 433,132 (24,868) - - - Building and safety fees - - - 7,600 31,534 23,934 Maintenance assessments 43,157 34,549 (8,608) 1,496,812 3,557,689 2060,877 Subventions and grants - 20,085 20,085 1,684,943 1,946,258 261,315 Planning and public works fees 3,000 38,780 35,780 1,171,065 1,076,659 (94,406) Park development fees - - - 125,000 202,270 77,270 Charges for current services 20,000 19,226 (774) 110,740 130,005 19,265 Fines and forfeitures 40,000 58,632 18,632 64,000 43,408 (20,592) Interest 274,919 166,151 (108,768) 809,649 725,871 (83,778) Other 168,385 563,754 395,369 28,495 272,166 243,671 Total revenues 4,212,961 4,460,599 247,638 5,970,204 8,467,362 2,497,158 Expenditures: Current: General government 939,383 870,244 69,139 82,605 82,134 471 Public safety 2,379,064 2,296,854 82,210 121,385 121,061 324 Public services 229,491 197,214 32,277 2,885,755 2716,299 169,456 Parks and recreation 453,173 417,814 35,359 606,134 571,668 34,466 Capital outlay 275,020 364,692 (89,672) 11,584,927 8,946,931 2,637,996 Debt service-interest - - Total expenditures 4,276,131 4,146,818 129,313 15,280,806 12,438,093 2842713 Excess(deficiency)of reve- nues over expenditures (63,170) 313,781 376,951 (9,310,602) (3,970,731) 5,339,871 Other financing sources(uses): Operating transfers in(note 9) - - - 1,210,569 472290 (738,279) Operating transfers out(note 9) (159,249) (288,829) (129,580) (1,102,431) (37,353) 1,065,078 1 Proceeds from long-term advances from General Fund - - - - - - Total other financing sources(uses) (159,249) (288,829) (129,580) 108,138 434,937 326,799 Excess(deficiency)of revenues and other sources over expenditures and other uses (222,419) 24,952 247,371 (9,202,464) (3,535,794) 5,666,670 Fund balances,July 1 4,235,886 4,235,886 - 19,057,769 19,057,769 - Residual equity transfers in(note 9) - 58,328 58,328 - - - Residual equity transfers out(note 9) - - - - (58,328) (58,328) Fund balances,June 30 $ 4,013,467 4,319,166 305,699 9,855,305 15,463,647 5,608,342 (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 30,1 994 Certain Capital Projects Fund Total(memorandum only) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Property taxes S 2,306,614 1,229,383 (1,077,231) 3,606,114 2,443,675 (1,162,439) Sales taxes - 975,000 944,313 (30,687) Other taxes 502,900 514,2.63 11,363 Motor vehicle license fees - - - 900,000 934,924 34,924 Utility franchise fees 458,000 433,132 (24,868) Building and safety fees - - - 7,600 31,534 23,934 Maintenance assessments 1,539,969 3,592,238 2,052,269 Subventions and grants - - - 1,684,943 1,966,343 281,400 Planning and public works fees 1,174,065 1,115,439 (58,626) Park development fees - - - 125,000 202,270 77,270 Charges for current services 150,000 38,957 (111,043) 280,740 188,188 (92,552) Fines and forfeitures - - - 104,000 102040 (1,960) Interest 273,000 423,181 150,181 1,357,568 1,315,203 (42,365) Other - 740 740 196,880 836,660 639,780 Total revenues 2,729,614 1,692,261 (1,037,353) 12,912,779 14,620,222 1,707,443 Expenditures: Current: General government 20,000 550,126 (530,126) 1,041,988 1,502,504 (460,516) Public safety - - - 2500,449 2,417,915 82,534 Public services - - - 3,115,246 2,913,513 201,733 Parks and recreation - - - 1,059,307 989,482 69,825 Capital outlay 5,546,874 4,887,891 658,983 17,406,821 14,199,514 3,207,307 Debt service-interest 235,000 70,580 164,420 235,000 70,580 164,420 Total expenditures 5,801,874 5,508,597 293,277 25,358,811 22,093,508 3,265,303 Excess(deficiency)of reve- nues over expenditures (3,072,260) (3,81 6,336) (744,076) (12,446,032) (7,473,286) 4,972,746 Other financing sources(uses): Operating transfers in(note 9) - - - 1,210569 472,290 (738,279) Operating transfers out(note 9) - (596,946) (596,946) (1,261,680) (923,128) 338,552 Proceeds from long-term advances from General Fund - 4,374,544 4,374,544 - 4,374,544 4,374,544 Total other financing sources(uses) - 3,777,598 3,777,598 (51,111) 3,923,706 3,974,817 Excess(deficiency)of revenues and other sources over expenditures and other uses (3,072,260) (38,738) 3,033,522 (12,497,143) (3,549,580) 8,947,563 Fund balances,July 1 8,418,992 8,418,992 - 31,712,647 31,712,647 - Residual equity transfers in(note 9) - - - - 58,328 58,328 Residual equity transfers out(note 9) - - (58,328) (58,328) Fund balances,June 30 S 5,346,732 8,380,254 3,033,522 19,215,504 28,163,067 8,947,563 See accompanying notes to general purpose financial statements. 5 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements June 30,1994 (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 $4,374,544 at June 30, 1994,are to be repaid over a 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 Capital Projects Funds and Low-and Moderate-Income Special Revenue Fund represents land purchased by the Agency for redevelopment 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 a developer,when signed)and is offset by a reservation of fund balance to indicate that assets constitute future capital projects. 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, except that expenditures for land held for resale in the Low-and Moderate-Income Housing Special Revenue Fund ($1,500,000) and the Redevelopment Capital Projects Fund ($3,502,175) are budgeted as capital outlay expenditures. 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, 1994 are as follows: Unrestricted cash and investments $ 25,743,958 Restricted cash and investments 1,248,110 $ 26,992,068 The cash and investments are aggregated as follows: Deposits $ 681,678 Investments 26,310,390 $ 26,992,068 9 CITY OF MOORPARK, CALIFORNIA Notes to General Purpose Financial Statements,Continued The City's deposits at June 30,1994 are categorized in the following table: Carrying Bank balance, amount, Actual Category 1 Category 2 Category 3 June 30,1994 June 30,1994 Deposits held with banks $ 200,000 287,516 — 487,516 681,678 • 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, 1994 are categorized in the following table: Not required Carrying Market to be amount, value, Actual Category 1 Category 2 Category 3 categorized June 30,1994 June 30,1994 U.S.Government securities $ — — 14,515,782 — 14,515,782 14,030,175 Investments held in trust by fiscal agents on behalf of the City of MoorparkI (restricted cash) — — 813,118 — 813,118 811,165 Money Market Fund — — — 1,373,141 1,373,141 1,373,141 State Treasurer's Local Agency Investment Fund — — — 9,534,302 9,534,302 9,534,302 Investments held in deferred compensation plan- mutual fund investments — — — 74,047 74,047 74,047 Total $ — — 15,328,900 10,981,490 26,310,390 25,822,830 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 • Negotiable certificates of deposit • Passbook savings accounts • Bankers' acceptances • Reverse-repurchase agreements At June 30, 1994 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, 1994 is $64,633 and $9,414, 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, 1994: Balance, Balance, July 1,1993 Addition Payments June 30,1994 1994 Tax Allocation Bonds $ 10,000,000 — — 10,000,000 Long-term advances from the General Fund — 4,374,544 — 4,374,544 Total $ 10,000,000 4,374,544 — 14,374,544 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,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 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 30,1994 is$788,200. 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 1994-95 $ 200,000 576,839 776,839 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 Thereafter 8,910,000 6,454,463 15,364,463 Total $ 10,000,000 9,250,268 19,250,268 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$874,544 at June 30, 1994,is due over an indeterminate period of time and accrues interest at 10%. 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$448,827 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, 1994 was $1,499,972. The City's total payroll for the year ended June 30, 1994 was $1,595,198. 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 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. 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, 1993. Significant actuarial assumptions used in the valuation include(a)a rate of return on the investment of present and future assets of 8.75%per year compounded annually;(b)projected salary increases of 5.25%per year compounded annually,attributable to inflation and across-the- board real salary increases; (c)additional projected salary increases of 1.75% per year, 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, 1993, 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 $ 121,674 Current employees: Accumulated employee contributions,including allocated investment earnings 436,114 Employer-financed vested 145,467 Employer-financed nonvested 111,402 Total pension benefit obligation 814,657 Net assets available for benefits, at cost (market value is $1,149,636) 966,878 Net assets in excess of pension benefit obligation $ 152,221 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 1994 of$194,736(including$104,138 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, 1993. The contribution included$193,386 of normal cost(5.95%of current covered payroll)and $1,350 of amortization of unfunded actuarial liability (0.09% 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, 1994 and is summarized as follows: 1994 1993 1992 1991 1990 1989 1988 Net assets available for benefits $ N/A 966,878 732,480 530,168 358,597 223,956 134,123 Pension benefit obligation N/A 814,657 629,507 449,839 305,831 184,551 111,111 Net assets available for benefits as a percentage of pension benefit obligation N/A 118.69% 116.36% 117.86% 117.25% 121.35% 120.71% Net assets in excess of pension benefit obligation N/A 152,221 102,973 80,329 52,766 39,405 23,012 Covered payroll 1,499,972 1,291,589 1,092,390 982,762 750,267 591,750 429,623 Net assets in excess of pension benefit obligation as a percentage of covered payroll N/A 11.79% 9.43% 8.17% 7.03% 6.66% 5.36% Employer contribution as a percentage of covered payroll 6.04% 6.29% 6.99% 7.78% 8.28% 8.44% 8.95% N/A= Information is not available as of June 30, 1994. 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, 1994 follows: Balance, Balance, July 1,1993 Additions Disposals June 30,1994 Land $ 6,838,062 2,357,124 — 9,195,186 Buildings and structures 1,671,123 1,930,003 — 3,601,126 Improvements other than buildings 3,410,510 — — 3,410,510 Office furniture and equipment 661,316 45,725 — 707,041 Other equipment 284,636 96,091 — 380,727 $ 12,865,647 4,428,943 — 17,294,590 (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. Funds in excess of constitutional spending limitations of$395,871 for years prior to and including the year ended June 30,1994 have been recorded as designated fund balance in the General Fund. The voters have approved the use of these funds by the City. The Agency has designated $8,380,254 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, 1994 is included in the following table. The accounting for the activities of certain Special Revenue Funds was transferred to the General Fund effective July 1,1993. Accordingly,the transfer of the remaining fund balance(accumulated deficit)of the funds no longer in use has been recorded as a residual equity transfer. Due from Due to Residual Residual Operating Operating other other equity equity transfers in transfers out funds funds transfers in transfers out General Fund $ — 288,829 20,260 — 58,328 — Special Revenue Funds: State Gas Tax Fund 18,042 — 192,000 — — — Park Development Fund — 19,311 — — — — Community Center Fund — — — — — 1,847 Local Transportation Transit Fund 3,792 — — — — — TDA Article 3 — 18,042 — — — — CDBG Entitlement Fund — — — 20,260 — — Traffic Maintenance Fund 142,769 — — — — Park Maintenance Fund 36,166 — — -- — — Tierra Rejada/Spring Road AOC Fund 122,334 — — 192,000 — — Recreation Fund — — — — — 56,481 Low-and Moderate-Income Housing Fund 149,187 — — — — — Capital Projects Funds: Equipment Replacement Fund 3,079 — — — — — Redevelopment Agency Fund — 596,946 — — — — Debt Service Fund 447,759 — — — — — $ 923,128 923,128 212,260 212,260 58,328 58,328 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. 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$2,391,679 for the year ended June 30, 1994. 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 of SCJPIA as of and for the year ended June 30,1994 are as follows: Cash and investments $ 75,161,708 Member deposits receivable 9,605,661 Accrued interest receivable 626,113 Other assets 603,455 Total assets $ 85,996,937 Liabilities: Unpaid claim liabilities $ 43,217,000 Unearned member deposits 19,770,544 Accounts payable and accrued expenses 279,263 Total liabilities 63,266,807 Retained earnings, substantially reserved for future catastrophic losses 22,730,130 Total liabilities and retained earnings $ 85,996,937 21 CITY OF MOORPARK,CALIFORNIA Notes to General Purpose Financial Statements,Continued Revenues: Member deposits earned $ 18,061,945 Interest income 3,731,485 Retrospective adjustments,net 1,145,318 Other 258,192 Total revenues 23,196,940 Costs and expenses: Incurred claims and other insurance costs 16,955,066 Contractual services 183,733 General and administrative expenses 1,104,034 Total costs and expenses 18,242,833 Net income 4,954,107 Retained earnings,July 1,1993 17,776,023 Retained earnings,June 30,1994 $ 22,730,130 (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. 23 SUPPLEMENTARY INFORMATION SPECIAL REVENUE FUNDS Schedule 1 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds June 30,1994 with comparative total figures at June 30,1993 Local Local Park Community Transportation Transportation State Transit Traffic Safety State Gas Tax Development Center Streets Transit Assistance Assets Fund(02) Fund(03) Fund(05) Fund(07) Fund(11) Fund(12) Fund(13) Cash and investments $ 40,482 1,788,880 2,291,543 - 736,412 59,609 116,849 Restricted cash and investments - - - - - - - Accounts and interest receivable,net 7,254 25,178 57,490 - 148,484 3,347 1,551 Due from other funds - 192,000 - - - - - Land held for resale - - - - - - - Total assets $ 47,736 2,006,058 2,349,033 - 884,896 62,956 118,400 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ 21,555 56,300 209,916 - 21,015 19,981 - Due to other funds - - - - - - - Deferred revenue - - - - - • 42,975 - Total liabilities 21,555 56,300 209,916 - 21,015 62,956 - 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 26,181 1,449,758 2,112,117 - 863,881 - 118,400 Total fund balances 26,181 1,949,758 2,139,117 - 863,881 - 118,400 Total liabilities and fund balances $ 47,736 2,006,058 2,349,033 - 884,896 62,956 118,400 (Continued) 24 Schedule 1-2 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds,Continued June 30,1994 with comparative total figures at June 30,1993 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 $ - 14,747 - 478,719 669,937 198,676 Restricted cash and investments - - - - - - Accounts and interest receivable,net - 981 86,750 - 32,383 89,465 Due from other funds - - - - - - Land held for resale - - - - - - Total assets $ - 15,728 86,750 478,719 702,320 288,141 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ - 1,771 6,880 4,942 8,977 2,690 Due to other funds - - 20,260 - - - Deferred revenue - - - - - - Total liabilities - 1,771 27,140 4,942 8,977 2,690 Fund balances: Reserved for receivables due after one year - - 50,000 - - 86,468 Reserved for low/moderate income housing - - - - - - Reserved for land held for resale - - - - - - Unreserved: Designated - - - - - - Undesignated - 13,957 9,610 473,777 693,343 198,983 Total fund balances - 13,957 59,610 473,777 693,343 285,451 Total liabilities and fund balances $ - 15,728 86,750 478,719 702,320 288,141 (Continued) 25 Schedule 1-3 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet-All Special Revenue Funds,Continued June 30,1994 with comparative total figures at June 30,1993 Tierra Landscape and Traffic System Park Rejada/Spring Los Angeles Casey/Gabbert Lighting Management Maintenance Road AOC Avenue AOC Road AOC Recreation Assets Fund(23) Fund(24) Fund(25) Fund(26) Fund(27) Fund(28) Fund(33) Cash and investments $ 307,231 295,163 38,781 857,246 5,767,436 40,554 - Restricted cash and investments - - - - - - - Accounts and interest receivable,net 14,555 3,396 16,149 9,448 1,311,181 478 - Due from other funds - - - - - - - Land held for resale - - - - - - - Total assets $ 321,786 298,559 54,930 866,694 7,078,617 41,032 - Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ 97,259 - 54,930 107,087 65,255 - - Due to other funds - - - 192,000 - - - Deferred revenue - - - - 32,217 - - Total liabilities 97,259 - 54,930 299,087 97,472 - - 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 224,527 298,559 - 567,607 5,761,987 41,032 - Total fund balances 224,527 298,559 - 567,607 6,981,145 41,032 - Total liabilities and fund balances $ 321,786 298,559 54,930 866,694 7,078,617 41,032 - (Continued) 26 Schedule 1-4 CITY OF MOORPARK,CALIFORNIA Combining Balance Sheet–All Special Revenue Funds,Continued June 30,1994 with comparative total figures at June 30,1993 Low-and 1984 Park Community Crossing Moderate- Bond Act Development Guard Income Housing Totals Assets Fund(36) Fund(41) Fund(43) Fund 1994 1993 Cash and investments .$ — 456,072 107,797 — 14,266,134 17,061,691 Restricted cash and investments — — — 434,992 434,992 1,780,651 Accounts and interest receivable,net — — 1,309 13,835 1,823,234 1,874,579 Due from other funds — — — — 192,000 192,000 Land held for resale — 1,500,000 1,500,000 — Total assets $ — 456,072 109,106 1,948,827 18,216,360 20,908,921 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ — 286,703 — — 965,261 1,223,143 Due to other funds — — — — 212,260 192,000 Deferred revenue — — — — 75,192 436,009 Total liabilities — 286,703 — — 1,252,713 1,851,152 Fund balances: Reserved for receivables due after one year — — — — 1,355,626 1,361,310 Reserved for low/moderate income housing — — — 448,827 448,827 1,784,860 Reserved for land held for resale — — — 1,500,000 1,500,000 — Unreserved: Designated — — — — 527,000 500,000 Undesignated — 169,369 109,106 — 13,132,194 15,411,599 Total fund balances — 169,369 109,106 1,948,827 16,963,647 19,057,769 Total liabilities and fund balances $ — 456,072 109,106 1,948,827 18,216,360 20,908,921 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 30,1994 with comparative total figures for the year ended June 30,1993 Local Local Park Community Transportation Transportation State Transit Traffic Safety State Gas Tax Development Center Fund Streets Fund Transit Fund Assistance Fund(02) Fund(03) Fund(05) (07) (11) (12) Fund(13) Revenues: Other taxes $ - 481,502 - - - - - Building and safety fees - - - - - - - Maintenance assessments - 83,707 5,086 - 861,698 - - Subventions and grants - - - - 477,967 768,332 - Planning and public works fees - - - - - - - Park development fees - - 202,270 - - - - Charges for current services - - 14,500 - - 9,005 - Fines and forfeitures 43,408 - - - - - - Interest 3,951 89,515 153,744 - 9,057 12,090 6,587 Other - 5,020 2,554 - 204,119 551 - Total revenues 47,359 659,744 378,154 - 1,552,841 789,978 6,587 Expenditures: Current: General government - - - - - - - Public safety 121,061 - - - - - - Public services 33,572 586,497 - - 640 121,774 - Parks and recreation - - 5,130 - - - - Capital outlay - 216,663 2,093,287 - 895,230 671,996 36,000 Total expenditures 154,633 803,160 2,098,417 - 895,870 793,770 36,000 Excess(deficiency)of reve- nues over expenditures (107,274) (143,416) (1,720,263) - 656,971 (3,792) (29,413) Other financing sources(uses): Operating transfers in - 18,042 - - - 3,792 - Operating transfers out - - (19,311) - - - - Developer in-lieu fee - - - - - - - Proceeds from issuance of tax allocation bonds - - - - - - - Total other financing sources(uses) - 18,042 (19,311) - - 3,792 - Excess(deficiency)of revenues and other sources over expenditures and other uses (107,274) (125,374) (1,739,574) - 656,971 - (29,413) Fund balances,July 1 133,455 2,075,132 3,878,691 1,847 206,910 - 147,813 Residual equity transfers in - - - - - - - Residual equity transfers out - - - (1,847) - - - Fund balances,June 30 $ 26,181 1,949,758 2,139,117 863,881 - 118,400 (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 30,1994 with comparative total figures for the year ended June 30,1993 Transportation Citywide Development CDBG Police Traffic Affordable LS.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 - - - 31,534 - - Maintenance assessments - - - - 241,809 - Subventions and grants 283,410 31,000 373,901 - - - Planning and public works fees - - - - 1,095 - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - interest - 4,161 - - 26,489 19,315 Other - - - - 52,836 Total revenues 283,410 35,161 373,901 31,534 269,393 72,151 Expenditures: Current: General government - - 82,134 - - - Public safety - - - - - - Public services - 40 61,695 - 12,846 19,960 Parks and recreation - - - - - - Capital outlay 283,410 101,098 230,072 6,742 191,244 Total expenditures 283,410 101,138 373,901 6,742 12,846 211,204 Excess(deficiency)of reve- nues over expenditures - (65,977) - 24,792 _256,547 (139,053) Other financing sources(uses): Operating transfer in - - - - - - Operating transfers out - (18,042) - - - - Developer in-lieu fee - - - - - - Proceeds from issuance of tax allocation bonds - - - - - - Total other financing sources(uses) - (18,042) - - - - Excess(deficiency)of revenues and other sources over expenditures and other uses - (84,019) - 24,792 256,547 (139,053) Fund balances,July 1 - 97,976 59,610 448,985 436,796 424,504 Residual equity transfers in - - - - - -• Residual equity transfers out - - - - - - Fund balances,June 30 $ 13,957 59,610 473,777 693,343 285,451 (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 30,1994 with comparative total figures for the year ended June 30,1993 Tierra Landscape and Traffic System Park Rejada/Spring Los Angeles Casey/Gabbert Lighting Fund Management Maintenance Road AOC Avenue AOC Road AOC Recreation (23) Fund(24) Fund(25) Fund(26) Fund(27) Fund(28) Fund(33) Revenues: Other taxes $ - - - - - - - Building and safety fees - - - - - - - Maintenance assessments 374,909 244,271 355,247 1,370,082 479 - - Subventions and grants - - - - - - - Planning and public works fees - - - - - - - Park development fees - - - - - - - Charges for current services - - - - - - 106,500 Fines and forfeitures - - - - - - - Interest 1,436 14,474 1,204 40,265 321,184 2,036 - Other 648 - 2,893 - 95 - 2,186 Total revenues 376,993 258,745 359,344 1,410,347 321,758 2,036 108,686 Expenditures: Current: General government - - - - - - - Public safety - - - - - - - Public services 366,897 - - 400 2,340 - - Parks and recreation - - 502,113 - - - 64,425 Capital outlay 100,924 152,000 - 1,453,617 1,008,048 - - Total expenditures 467,821 152,000 502,113 1,454,017 1,010,388 - 64,425 Excess(deficiency)of reve- nues over expenditures (90,828) 106,745 (142,769) (43,670) (688,630) 2,036 44,261 Other financing sources(uses): Operating transfers in - - 142,769 36,166 122,334 - - Operating transfers out - - - - - - - Developer in-lieu fee - - - - - - - Proceeds from issuance of tax ' allocation bonds - - - - - - - Total other financing sources(uses) - 142,769 36,166 122,334 - Excess(deficiency)of revenues and other sources over expenditures and other uses (90,828) 106,745 - (7,504) (566,296) 2,036 44,261 Fund balances,July 1 315,355 191,814 - 575,111 7,547,441 38,996 12,220 Residual equity transfers in - - - - - - - Residual equity transfers out - - - - - - (56,481) Fund balances,June 30 $ 224527 298,559 567,607 6,981,145 41,032 - (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 30,1994 with comparative total figures for the year ended June 30,1993 Low-and 1984 Park Community Crossing Moderate- Bond Act Development Guard Income Housing Totals Fund(36) Fund(41) Fund(43) Fund 1994 1993 Revenues: Other taxes S - - - - 481,502 443,706 Building and safety fees - - - - 31,534 27,454 Maintenance assessments - - 20,401 - 3,557,689 1,811,414 Subventions and grants 6,600 5,048 - - 1,946,258 991,784 Planning and public works fees - 1,075,564 - - 1,076,659 1,443,598 Park development fees - - - - 202,270 75,493 Charges for current services - - 130,005 119,086 Fines and forfeitures - - - - 43,408 52,178 Interest - - 5,583 14,780 725,871 888,646 Other - 1,264 - - 272,166 58,807 Total revenues 6,600 1,081,876 25,984 14,780 8,467,362 5,912,166 Expenditures: Current: General government - - - - 82,134 - Public safety - - - - 121,061 135,587 Public services - 1,498,447 11,191 - 2,716,299 2,422,407 Parks and recreation - - - - 571,668 426,063 Capital outlay 6,600 - - - 7,446,931 3,485,539 Total expenditures 6,600 1,498,447 11,191 - 10,938,093 6,469,596 Excess(deficiency)of reve- nues over expenditures - (416,571) 14,793 14,780 (2,470,731) (557,430) Other financing sources(uses): Operating transfers in 149,187 472,290 109,848 Operating transfers out - - (37,353) (132,682) Developer in-lieu fee - - - - - 932,701 Proceeds from issuance of tax allocation bonds - - - - - 1,780,651 Total other financing sources(uses) - - - 149,187 434,937 2,690,518 Excess(deficiency)of revenues and other sources over expenditures and other uses - (416,571) 14,793 163,967 (2,035,794) 2,133,088 Fund balances,July 1 - 585,940 94,313 1,784,860 19,057,769 16,924,681 Residual equity transfers in - - - - - 2,169,249 Residual equity transfers out - - - - (58,328) (2,169,249) Fund balances,June 30 S - 169,369 109,106 1,948,827 16,963,647 19,057,769 See accompanying independent auditors'report. 31 Schedule 3 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1994 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 $ - - - 471,900 481,502 9,602 Building and safety fees - - - - - - Maintenance assessments - - - - 83,707 83,707 Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - Charges for current services - - - - - - Fines and forfeitures 64,000 43,408 (20,592) - - - Interest 7,700 3,951 (3,749) 86,965 89,515 2,550 Other - - - - 5,020 5,020 Total revenues 71,700 47,359 (24,341) 558,865 659,744 100,879 Expenditures: Current General government - - - - - - Public safety 121,385 121,061 324 - - - Public services 57,076 33,572 23,504 698,585 586,497 112,088 Parks and recreation - - - - - - Capital outlay 5,204 - 5,204 612,776 216,663 396,113 Total expenditures 183,665 154,633 29,032 1,311,361 803,160 508,201 Excess(deficiency)of reve- nues over expenditures (111,965) (107,274) 4,691 (752,496) (143,416) 609,080 Other financing sources(uses): Operating transfers in - - - 10,000 18,042 8,042 Operating transfers out - - - - - - Total other financing sources(uses) - - - 10,000 18,042 8,042 Excess(deficiency)of revenues and other sources over expenditures and other uses (111,965) (107,274) 4,691 (742,496) (125,374) 617,122 Fund balances,July 1 133,455 133,455 - 2,075,132 2,075,132 - Residual equity transfers out - - - _ - - - Fund balances(accumulated deficits), June 30 $ 21,490 26,181 4,691 1,332,636 1,949,758 617,122 (Continued) 32 Schedule 3-2 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)– Budget and Actual on the Budgetary Basis–All Special Revenue Funds Year ended June 30,1994 Park Development Fund(05) Community Center Fund(07) Actual Variance– Actual Variance– (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ — — — — — — Building and safety fees — — — — — — Maintenance assessments — 5,086 5,086 — — — Subventions and grants — — — — — — Planning and public works fees — — — — — — Park development fees 125,000 202,270 77,270 — — — Charges for current services 15,000 14,500 (500) — — — Fines and forfeitures — — — — — — Interest 177,795 153,744 (24,051) — — — Other — 2,554 2,554 — — — Total revenues 317,795 378,154 60,359 — — — Expenditures: Current General government — — — — — — Public safety — — — — — — Public services — — — — — — Parks and recreation — 5,130 (5,130) — — — Capital outlay 3,436,209 2,093,287 1,342,922 — — — Total expenditures 3,436,209 2,098,417 1,337,792 — — — Excess(deficiency)of reve- nues over expenditures (3,118,414) (1,720,263) 1,398,151 — — — Other financing sources(uses): Operating transfers in — — — — Operating transfers out — (19,311)_ (19,311) — — — Total other financing sources(uses) — (19,311) (19,311) — — — Excess(deficiency)of revenues and other sources over expenditures and other uses (3,118,414) (1,739,574) 1,378,840 — — — Fund balances,July 1 3,878491 3,878491 — 1,847 1,847 — Residual equity transfers out — — — — (1,847) (1,847) Fund balances(accumulated deficits), June 30 $ 760,277 2,139,117 1,378,840 1,847 — (1,847) (Continued) 33 Schedule 3-3 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1994 Local Transportation Streets Fund(11) Local Transportation Transit Fund(12) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments - 861,698 861,698 - - - Subventions and grants 408,112 477,967 69,855 507,490 768,332 260,842 Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - 9,005 9,005 Fines and forfeitures - - - - - - Interest 43,698 9,057 (34,641) - 12,090 12,090 Other - 204,119 204,119 9,000 551 (8,449) Total revenues 451,810 1,552,841 1,101,031 516,490 789,978 273,488 Expenditures: Current: General government - - - - - - Public safety - - - - - - Public services 9,600 640 8,960 175,852 121,774 54,078 Parks and recreation - - - - - - Capital outlay 1,023,660 895,230 128,430 672,424 671,996 428 Total expenditures 1,033,260 895,870 137,390 848,276 793,770 54,506 Excess(deficiency)of reve- nues over expenditures (581,450) 656,971 1,238,421 (331,786) (3,792) 327,994 Other financing sources(uses): Operating transfers in - - - 5,800 3,792 (2,008) Operating transfers out - - - - - - Total other financing sources(uses) - - - 5,800 3,792 (2,008) Excess(deficiency)of revenues and other sources over expenditures and other uses (581,450) 656,971 1,238,421 (325,986) - 325,986 Fund balances,July 1 206,910 206,910 - - - - Residual equity transfers out - - - _- - - Fund balances(accumulated deficits), June 30 $ (374,540) 863,881 1,238,421 (325,986) - 325,986 (Continued) 34 Schedule 3-4 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)– Budget and Actual on the Budgetary Basis–All Special Revenue Funds Year ended June 30,1994 State Transit Assistance Fund(13) LS.T.E.A.Fund(14) 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 36,000 — (36,000) 321,340 283,410 (37,930) Planning and public works fees — — — — — — Park development fees — — — — — — Charges for current services — — — — — — Fines and forfeitures — — — — — — Interest 6,254 6,587 333 — — — Other — — — — — — Total revenues 42,254 6,587 (35,667) 321,340 283,410 (37,930) Expenditures: Current: General government — — — — — — Public safety — — — — — — Public services — — — — — — Parks and recreation — — — — — — Capital outlay 36,000 36,000 — 321,340 283,410 37,930 Total expenditures 36,000 36,000 — 321,340 283,410 37,930 Excess(deficiency)of reve- nues over expenditures 6,254 (29,413) (35,667) — — — Other financing sources(uses): Operating transfers in — — — — — — Operating transfers out — — — — — — Total other financing sources(uses) — — — — — — Excess(deficiency)of revenues and other sources over expenditures and other uses 6,254 (29,413) (35,667) — — — Fund balances,July 1 147,813 147,813 — — — — Residual equity transfers out — — — — — — Fund balances(accumulated deficits), June 30 $ 154,067 118,400 (35,667) — — — (Continued) 35 Schedule 3-5 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1994 Transportation Development Act(Article 3)Fund(15) CDBG Entitlement Fund(18) 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 31,500 31,000 (500) 373,901 373,901 - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest 4,592 4,161 (431) - - - Other - - - - - - Total revenues 36,092 35,161 (931) 373,901 373,901 - Expenditures: Current: General government - - - 82,605 82,134 471 Public safety - - - - - - Public services - 40 (40) 173,000 61,695 111,305 Parks and recreation - - Capital outlay 120,500 101,098 19,402 318,125 230,072 88,053 Total expenditures 120,500 101,138 19,362 573,730 373,901 199,829 Excess(deficiency)of reve- nues over expenditures (84,408) (65,977) 18,431 (199,829) - 199,829 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - (18,042) (18,042) - - - Total other financing sources(uses) - (18,042) (18,042) - - - Excess(deficiency)of revenues and other sources over expenditures and other uses (84,408) (84,019) 389 (199,829) - 199,829 Fund balances,July 1 97,976 97,976 - 59,610 59,610 - Residual equity transfers out - - - - - Fund balances(accumulated deficits), June30 5 13,568 13,957 389 (140,219) 59,610 199,829 (Continued) 36 Schedule 3-6 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1994 Police Facilities Fee Fund(20) Citywide Traffic Mitigation Fund(21) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees 7,600 31,534 23,934 - - - Maintenance assessments - - - 200,000 241,809 41,809 Subventions and grants - - - - - - Planning and public works fees - - - - 1,095 1,095 Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest - - - 17,484 26,489 9,005 Other - - - - - - Total revenues 7,600 31,534 23,934 217,484 269,393 51,909 Expenditures: Current: General government - - - - - - Public safety - - - - - - Public services - - - 75,000 12,846 62,154 Parks and recreation - - - - - - Capital outlay 8,800 6,742 2,058 - - - Total expenditures 8,800 6,742 2,058 75,000 12,846 62,154 Excess(deficiency)of reve- nues over expenditures (1,200) 24,792 25,992 142,484 256,547 114,063 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - - - (7,956) - 7,956 Total other financing sources(uses) - - - (7,956) - 7,956 Excess(deficiency)of revenues and other sources over expenditures and other uses (1,200) 24,792 25,992 134,528 256,547 122,019 Fund balances,July 1 448,985 448,985 - 436,796 436,796 - Residual equity transfers out - - - - - - Fund balances(accumulated deficits), June 30 $ 447,785 473,777 25,992 571,324 693,343 122,019 (Continued) 37 Schedule 3-7 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1994 Affordable Housing Fund(22) Landscape and Lighting Fund(23) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments - - - 355,806 374,909 19,103 Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest 12,920 19,315 6,395 1,200 1,436 236 Other 16,700 52,836 36,136 - 648 648 Total revenues 29,620 72,151 42,531 357,006 376,993 19,987 Expenditures: Current: General government - - - - - - Public safety - - - - - - Public services - 19,960 (19,960) 377,458 366,897 10,561 Parks and recreation - - - - - - Capital outlay 194,726 191,244 3,482 138,955 100,924 38,031 Total expenditures 194,726 211,204 (16,478) 516,413 467,821 48,592 Excess(deficiency)of reve- nues over expenditures (165,106) (139,053) 26,053 (159,407) (90,828) 68,579 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out (21,060) - 21,060 - - - Total other financing sources(uses) (21,060) - 21,060 - -- - Excess(deficiency)of revenues and other sources over expenditures and other uses (186,166) (139,053) 47,113 (159,407) (90,828) 68,579 Fund balances,July 1 424,504 424,504 - 315,355 315,355 - Residual equity transfers out - - - - - - Fund balances(accumulated deficits), June30 $ 238,338 285,451 47,113 155,948 224,527 68,579 (Continued) 38 Schedule 3-8 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1994 Traffic System Management Fund(24) Park Maintenance Fund(25) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - Building and safety fees - - - - - - Maintenance assessments 584,000 244,271 (339,729) 357,006 355,247 (1,759) Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - - - - Fines and forfeitures - - - - - - Interest 7,292 14,474 7,182 - 1,204 1,204 Other - - - - 2893 2,893 Total revenues 591,292 258,745 (332,547) 357,006 359,344 2,338 Expenditures: Current: General government - - - - - - Public safety - - - - - - Public services - - - - - - Parks and recreation - - - 512,302 502,113 10,189 Capital outlay 152000 152,000 - - - - Total expenditures 152000 152,000 - 512,302 502,113 10,189 Excess(deficiency)of reve- nues over expenditures 439,292 106,745 (332,547) (155,296) (142,769) 12,527 Other financing sources(uses): Operating transfers in - - - 150,870 142769 (8,101) Operating transfers out - - - - - - Total other financing sources(uses) - - - 150,870 142769 (8,101) Excess(deficiency)of revenues and other sources over expenditures and other uses 439,292 106,745 (332,547) (4,426) - 4,426 Fund balances,July 1 191,814 191,814 - - - - Residual equity transfers out - - - - - - Fund balances(accumulated deficits), June30 $ 631,106 298,559 (332,547) (4,426) - 4,426 (Continued) 39 Schedule 3-9 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1994 Tierra Rejada/Spring Road AOC Fund(26) Los Angeles Avenue AOC Fund(27) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ — — — — — — Building and safety fees — — — — — — Maintenance assessments — 1,370,082 1,370,082 — 479 479 Subventions and grants — — — — — — Planning and public works fees — — — — — — Park development fees — — — — — — Charges for current services — — — — — — Fines and forfeitures — — — — — — Interest 117,884 40,265 (77,619) 320,012 321,184 1,172 Other — — — — 95 95 Total revenues 117,884 1,410,347 1,292,463 320,012 321,758 1,746 Expenditures: Current: General government — — — — — — Public safety — — — — — — Public services — 400 (400) — 2,340 (2,340) Parks and recreation — — — — — — Capital outlay 1,601,455 1,453,617 147,838 1,431,910 1,008,048 423,862 Total expenditures 1,601,455 1,454,017 147,438 1,431,910 1,010,388 421,522 Excess(deficiency)of reve- nues over expenditures (1,483,571) (43,670) 1,439,901 (1,111,898) (688,630) 423,268 Other financing sources(uses): Operating transfers in 1,043,899 36,166 (1,007,733) — 122,334 122,334 Operating transfers out — — — (1,043,899) — 1,043,899 Total other financing sources(uses) 1,043,899 36,166 (1,007,733) (1,043,899) 122,334 1,166,233 Excess(deficiency)of revenues and other sources over expenditures and other uses (439,672) (7,504) 432,168 (2,155,797) (566,296) 1,589,501 Fund balances,July 1 575,111 575,111 — 7,547,441 7,547,441 — Residual equity transfers out — — — — — — Fund balances(accumulated deficits), June 30 $ 135,4,39 567,607 432,168 5,391,644 6,981,145 1,589,501 (Continued) 40 Schedule 3-10 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1994 Casey/Gabbert Road AOC Fund(28) Recreation Fund(33) Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - -- - - - - Building and safety fees - - - - - - Maintenance assessments - - - - - - Subventions and grants - - - - - - Planning and public works fees - - - - - - Park development fees - - - - - - Charges for current services - - - 95,740 106,500 10,760 Fines and forfeitures - - - - - - Interest 1,640 2,036 396 - - - Other - - - 2,795 2,186 (609) Total revenues 1,640 2,036 396 98,535 108,686 10,151 Expenditures: Current General government - - - - - - Public safety - - - - - - Public services - - - - - - Parks and recreation - - - 93,832 64,425 29,407 Capital outlay - - - - - - Total expenditures - - - 93,832 64,425 29,407 Excess(deficiency)of reve- nues over expenditures 1,640 2,036 396 4,703 44,261 39,558 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - - - (500) - 500 Total other financing sources(uses) - - - (500) - 500 Excess(deficiency)of revenues and other sources over expenditures and other uses 1,640 2,036 396 4,203 44,261 40,058 Fund balances,July 1 38,996 38,996 - 12,220 12,220 - Residual equity transfers out - - - - (56,481) (56,481) Fund balances(accumulated deficits), June 30 $ 40,636 41,032 396 16,423 - (16,423) (Continued) 41 Schedule 3-11 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)– Budget and Actual on the Budgetary Basis–All Special Revenue Funds Year ended June 30,1994 1984 Park Bond Act Fund(36) Community Development Fund(41) 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 6,600 6,600 — — 5,048 5,048 Planning and public works fees — — — 1,171,065 1,075,564 (95,501) Park development fees — — — — — — Charges for current services — — — — — — Fines and forfeitures — — — — — — Interest — — — — — — Other — — — — 1,264 1,264 Total revenues 6,600 6,600 — 1,171,065 1,081,876 (89,189) Expenditures: Current: General government — — — — — — Public safety — — — — — — Public services — — — 1,309,339 1,498,447 (189,108) Parks and recreation — — — — — — Capital outlay 6,600 6,600 — 3,500 — 3,500 Total expenditures 6,600 6,600 — 1,312,839 1,498,447 (185,608) Excess(deficiency)of reve- nues over expenditures — — — (141,774) (416,571) (274,797) Other financing sources(uses): Operating transfers in — — — — — — Operating transfers out — — — (29,016) — 29,016 Total other financing sources(uses) — — — (29,016) — 29,016 Excess(deficiency)of revenues and other sources over expenditures and other uses — — — (170,790) (416,571) (245,781) Fund balances,July 1 — — — 585,940 585,940 — Residual equity transfers out — — — — — — Fund balances(accumulated deficits), June 30 $ — — — 415,150 169,369 (245,781) (Continued) 42 Schedule 3-12 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances(Accumulated Deficits)- Budget and Actual on the Budgetary Basis-All Special Revenue Funds Year ended June 30,1994 Crossing Guard Fund(43) Low-and Moderate-Income Housing Fund Total Actual Variance- Actual Variance- Actual Variance- (budgetary favorable (budgetary favorable (budgetary favorable Budget basis) (unfavorable) Budget basis) (unfavorable) Budget basis) (unfavorable) Revenues: Other taxes $ - - - - - - 471,900 481,502 9,602 Building and safety fees - - - - 7,600 31,534 23,934 Maintenance assessments - 20,401 20,401 - - - 1,496,812 3,557,689 2,060,877 Subventions and grants - - - - - - 1,684,943 1,946,258 261,315 Planning and public works fees - - - - - - 1,171,065 1,076,659 (94,406) Park development fees - - - - - - 125,000 202,270 77,270 Charges for current services - - - - - - 110,740 130,005 19,265 Fines and forfeitures - - - - - - 64,000 43,408 (20,592) Interest 4,213 5,583 1,370 - 14,780 14,780 809,649 725,871 (83,778) Other - - - - - - 28,495 272,166 243,671 Total revenues 4,213 25,984 21,771 - 14,780 14,780 5,970,204 8,467,362 2,497,158 Expenditures: Current. General government - - - - - - 82,605 82,134 471 Public safety - - - - - - 121,385 121,061 324 Public services 9,845 11,191 (1,346) - - - 2,885,755 2,716,299 169,456 Parks and recreation - - - - - - 606,134 571,668 34,466 Capital outlay 743 - 743 1,500,000 1,500,000 - 11,584,927 8,946,931 2,637,996 Total expenditures 10,588 11,191 (603) 1,500,000 1,500,000 - 15,280,806 12,438,093 2,842,713 Excess(deficiency)of reve- nues over expenditures (6,375) 14,793 21,168 (1,500,000) (1,485,220) 14,780 (9,310,602) (3,970,731) 5,339,871 Other financing sources(uses): Operating transfers in - - - - 149,187 149,187 1,210,569 472,290 (738,279) Operating transfers out - - - - - - (1,102,431) (37,353) 1,065,078 Total other financing sources(uses) - - - - 149,187 149,187 108,138 434,937 326,799 Excess(deficiency)of revenues and other sources over expenditures and other uses (6,375) 14,793 21,168 (1,500,000) (1,336,033) 163,967 (9,202,464) (3,535,794) 5,666,670 Fund balances,July 1 94,313 94,313 - 1,784,860 1,784,860 - 19,057,769 19,057,769 - Residual equity transfers out - - - - - - - (58,328) (58,328) Fund balances(accumulated deficits), June 30 $ 87,938 109,106 21,168 284,860 448,827 163,967 9,855,305 15,463,647 5,608,342 See accompanying independent auditors'report. 43 CAPITAL PROJECTS FUNDS Schedule 4 CITY OF MOORPARK, CALIFORNIA Combining Balance Sheet—All Capital Projects Funds June 30,1994 with comparative total figures at June 30,1993 Equipment City Hall Replacement Redevelopment Totals Assets Building Fund Fund Agency Fund 1994 1993 Cash and investments $ 203,470 102,727 9,752,584 10,058,781 11,007,261 Accounts and interest receivable,net — 1,276 55,336 56,612 33,518 Taxes receivable — — 18,868 18,868 7,114 Land held for resale — — 3,502,175 3,502,175 — Other assets — — — — 102,616 Total assets $ 203,470 104,003 13,328,963 13,636,436 11,150,509 Liabilities and Fund Balances Liabilities: Accounts payable and accrued liabilities $ — 9,836 96,534 106,370 81,187 Notes payable — — 1,350,000 1,350,000 — Advances from General Fund — — — — 2,340,467 Total liabilities — 9,836 1,446,534 1,456,370 2,421,654 Fund balances: Reserved for land held for resale — — 3,502,175 3,502,175 — Unreserved: Designated for capital projects — — 8,380,254 8,380,254 8,418,992 Undesignated 203,470 94,167 — 297,637 309,863 Total fund balances 203,470 94,167 11,882,429 12,180,066 8,728,855 Total liabilities and fund balances $ 203,470 104,003 13,328,963 13,636,436 11,150,509 See accompanying independent auditors'report. 44 Schedule 5 CITY OF MOORPARK,CALIFORNIA Combining Statement of Revenues,Expenditures and Changes in Fund Balances-All Capital Projects Funds Year ended June 30,1994 with comparative total figures for the year ended June 30,1993 Equipment City Hall Replacement Redevelopment Totals Building Fund Fund Agency Fund 1994 1993 Revenues: Property taxes $ — — 1,229,383 1,229,383 1,469,789 Charged for current services — — 38,957 38,957 — Interest — 5,429 423,181 428,610 101,557 Other — — 740 740 270 Total revenues — 5,429 1,692,261 1,697,690 1,571,616 Expenditures: Current: General government — — 550,126 550,126 159,262 Public services — — — — 4,062 Capital outlay — 20,734 1,385,716 1,406,450 26,072 Debt service-interest expense — — 70,580 70,580 99,714 Total expenditures — 20,734 2,006,422 2,027,156 289,110 Excess(deficiency)of revenues over expenditures — (15,305) (314,161) (329,466) 1,282,506 Other financing sources: Operating transfers in — 3,079 — 3,079 300,000 Operating transfers out — — (596,946) (596,946) — Proceeds from issuance of tax allocation bonds — — — — 7,139,440 Proceeds of advances from General 1 Fund — — 4,374,544 4,374,544 — Total other financing sources — 3,079 3,777,598 3,780,677 7,439,440 Excess(deficiency)of revenues and other sources over expenditures — (12,226) 3,463,437 3,451,211 8,721,946 Fund balances,July 1 203,470 106,393 8,418,992 8,728,855 6,909 Fund balances,June 30 $ 203,470 94,167 11,882,429 12,180,066 8,728,855 See accompanying independent auditors'report. 45 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 30,1994 Actual Variance— (budgetary favorable Budget basis) (unfavorable) Revenues: Property taxes $ 2,306,614 1,229,383 (1,077,231) Charged for current services 150,000 38,957 (111,043) Interest 273,000 423,181 150,181 Other — 740 740 Total revenues 2,729,614 1,692,261 (1,037,353) Expenditures: General government 20,000 550,126 (530,126) Capital outlay 5,546,874 4,887,891 658,983 Debt service—interest expense 235,000 70,580 164,420 Total expenditures 5,801,874 5,508,597 293,277 Deficiency of revenues over expenditures (3,072,260) (3,816,336) (744,076) Other financing sources(uses): Operating transfers out — (596,946) (596,946) Proceeds of advances to Agency from City — 4,374,544 4,374,544 Total other financing sources — 3,777,598 3,777,598 Excess(deficiency)of revenues and other sources over expenditures and other uses (3,072,260) (38,738) 3,033,522 Fund balance,July 1 8,418,992 8,418,992 — Fund balance,June 30 $ 5,346,732 8,380,254 3,033,522 See accompanying independent auditors'report. 46 AGENCY FUNDS Schedule 7 CITY OF MOORPARK,CALIFORNIA Statement of Changes in Assets and Liabilities-All Agency Funds Year ended June 30,1994 Balance, Balance, June 30,1993 Additions Deletions June 30,1994 Developer Deposit Fund(39) Cash and investments $ 751,217 197,300 65,354 883,163 Accounts receivable - 88,182 - 88,182 $ 751,217 285,482 65,354 971,345 Accounts payable and accrued liabilities $ 81,827 36,676 - 118,503 Developer deposits 669,390 222,021 38,569 852,842 $ 751,217 258,697 38,569 971,345 Deferred Compensation Fund(99) Cash and investments $ 51,074 22,973 - 74,047 $ 51,074 22,973 - 74,047 Due to participants $ 51,074 22,973 - 74,047 $ 51,074 22,973 - 74,047 Total-All Agency Funds Cash and investments $ 802,291 220,273 65,354 957,210 Accounts receivable - 88,182 - 88,182 $ 802,291 308,455 65,354 1,045,392 Accounts payable and accrued liabilities $ 81,827 36,676 - 118,503 Developer deposits 669,390 222,021 38,569 852,842 Due to participants 51,074 22,973 - 74,047 $ 802,291 281,670 38,569 1,045,392 See accompanying independent auditors'report. 47