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Home My WebLink AboutACFR 1988 MOORPARK /;-;ri*N ikes. o �9 aQq,*.O ANNUAL FINANCIAL REPORT Year Ended June 30, 1988 MOORPARK ANNUAL FINANCIAL REPORT June 30, 1988 TABLE OF CONTENTS Page Report of Independent Auditors 1 General Purpose Financial Statements at June 30, 1988 and for the year then ended: Combined Balance Sheet - All Fund Types and Account Group 2 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types 3 Combined Statement of Revenues and Expenditures - Budget and Actual - General and Special Revenue Funds.. 4 Notes to Combined Financial Statements 5 Schedule Additional Financial Information at June 30, 1988 and for the year then ended: Special Revenue Funds: Combining Balance Sheet 1 13 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 2 17 Combining Statement of Revenues and Expenditures - Budget and Actual 3 21 Capital Projects Funds: Combining Balance Sheet 4 28 Combining Statements of Revenues, Expenditures and Changes in Fund Balances 5 29 General Property and Equipment Account Group: Statement of General Property and Equipment Account Group 6 3u Ernst &Young Suite 2500 2121 Avenue of the Stars Los Angeles,California 90067 Telephone:(213)551-5500 REPORT OP INDEPENDENT AUDITORS Fax:(213)201.0741 /0611 Telex:691251 Honorable City Council Moorpark, California We have audited the general purpose financial statements of Moorpark (City) at June 30, 1988 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. Me 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 financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. The City has not determined fair market values for certain real property and park land transferred from the County of Ventura and received from developers. Accordingly, such property has not been recorded in the General Property and Equipment Account Group in the accompanying combined balance sheet. This departure from generally accepted accounting principles does not have a material effect on the results of operations of the City for the year ended June 30, 1988. In our opinion, the general purpose financial statements mentioned above present fairly, in all material respects, the results of operations of Moorpark for the year ended June 30, 1988 and, except for the effects on the combined balance sheet of not recording certain real property as discussed in the preceding paragraph, the financial position of Moorpark at June 30, 1988, in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the basic general purpose financial statements taken as • whole. The combining and individual fund and account group 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 basic general purpose financial statements of Moorpark. Such additional financial information has been subjected to the procedures applied in the audit of the general purpose financial statements and, in our opinion, except for the effects of not recording certain real property as discussed in the second preceding paragraph, is fairly stated in all material respects in relation to the general purpose financial statements taken as a whole. December 30, 1988 1. MOORPARK COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUP June 30, 1988 Fiduciary Governmental Fund Types Fund Type Totals (memorandum only) General Special Capital Property and General revenue projects Equipment ASSETS Fund funds funds Agency Fund Account Group June 30, 1988 June 30, 1987 Cash, including short-term interest- bearing investments of $8,575,379 ($16,731,141 at June 30, 1987) (Note 3) $2,154,190 $12,399,465 $ 314,799 $2,277,873 $ - $17,146,327 $17,822,272 Accounts and interest receivable 278,980 520,982 3,318 - - 803,280 388,2u2 Due from other funds (Note 1) 258,277 - - - - 258,277 - Property and equipment (Notes 1 and 5): Buildings and structures - - - - 1,139,669 1,139,069 690,000 Improvements other than buildings - - - - 524,058 524,058 - Office furniture and equipment - - - - 129,680 129,680 100,464 Other equipment - - - - 37,978 37,978 1.1,364 $2,691,447 ;12,920,447 $318,117 $2,277,873 $1,831,385 $20,039,269 ;19,021,362 LIABILITIES AND FUND EQUITIES Liabilities: Accounts payable and accrued liabilities, including compen- sated absences (Note 1) $ 540,082 $ 1,584,304 $ 78,568 $ 180,737 $ - $2,383,691 $ 1,287,628 Deposits, principally from developers (Note 1) - - - 2,097,136 - 2,097,130 1,910,099 Contracts payable - 255,365 38,109 - - 293,474 - Deferred revenue - 19,286 - - - 19,286 - Due to other funds (Note 1) - 203,27? 55,000 - - 258,277 - Total liabilities 540,082 2,082,232 171,677 2,277,873 - 5,051,864 3,197,727 Commitments and contingencies (Note 7) Fund equities: Investment in general property and equipment - - - - 1,831,385 1,831,385 810,828 Fund balances-unreserved: Designated (Note 7) - 500,000 - - - 500,000 - Undesignated 2,151,365 10,358,215 146,440 - - 12,656,020 15,012,807 Total fund balances/equities 2,151,365 10,858,215 146,440 - 1,831,385 14,987,405 15,823,635 $2,691,44? $12,920,447 $318,117 $2,277,873 $1,831,385 $20,039,269 $19.021 ,362 See accompanying notes to combined financial statements. 2. MOORPARK COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES Year ended June 30, 1988 Governmental Fund Types Totals (memorandum only) Special Capital General revenue projects Year ended Fund funds funds June 30, 1088 June 30,1987 Revenues: Property taxes $ 1,000,515 $ 666 $ - $ 1,001,181 $ 734,979 --- Sales taxes 633,694 - - 633,694 489,991 Other taxes 40,164 250,525 - 290,689 290,459 Motor vehicle license fees 612,423 - - 612,423 519,512 Utility franchise fees 151,460 - 151,460 115,390 Street improvement fees - 546,264 - 546,264 4,035,054 Building and safety fees - 252,909 - 252,909 1,516,844 Planning and public works fees 45 146,296 - 146,3-11 62,792 Subventions and grants - 504,429 - 504,429 783,689 Maintenance assessments - 357,283 - 357,283 236,475 Park development fees - 134,493 - 134,493 1,903,821 Charges for current services 13,836 141,441 - 155,277 102,990 Fines and forfeitures 27,471 100,072 - 127,543 122,349 Interest 264,260 833,636 33,339 1,131,235 938,924 Miscellaneous - 8,900 - 8,900 27,759 Total revenues 2,743,868 3,276,914 33,339 6,054,121 11,881,028 :xpenditures: General government 820,385 - - 820,385 630,459 Public safety 914,982 62,386 - 977,308 855,677 Public services 31,250 1,170,029 16,681 1,217,960 2,640,170 Parks and recreation 190,015 115,773 - 305,788 373,357 Capital outlay 36,802 4,143,351 409,254 4,589,407 - Total expenditures 1,993,434 5,491,539 425,935 7,910,908 4,499,663 Excess (deficiency) of revenues over expenditures 750,434 ( 2,214,625) ( 392,596) ( 1,856,787) 7,381,365 Iperating transfers from (to) other funds, net 21,369 ( 21,369) - _ ____ Ixcess (deficiency) of revenues and net operating tranfers over expenditures 771,803 ( 2,235,994) ( 392,596) ( 1,856,787) 7,381,365 'uud balances, beginning of year 1,379,562 13,094,209 539,036 15,012,807 7,631,442 ,'und balances, end of year $ 2,151 ,365 $ 10,858.215 $ 146.440 Lia,lap,02q $15,012,8u7 See accompanying notes to combined financial statements. 3. MOORPARK COMBINED STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (NOTE 2) GENERAL AND SPECIAL REVENUE FUNDS Year ended June 30, 1988 General Fund Special revenue funds Totals (memorandum only) Variance- Variance- Variance- favorable favorable favorable (unfavor- (unfavor- (unfavor- Budget Actual able) Budget Actual able) Budget Actual able) Revenues: Property taxes $ 619,600 $1,000,515 $ 380,915 $ - $ 666 $ 666 $ 619,600 $ 1,001,181 $ 381 ,581 Sales taxes 420,000 633,694 213,694 - - - 420,000 633,694 213,694 Other taxes 29,175 40,164 10,989 224,000 250,525 26,525 253,175 290,689 37,514 Motor vehicle license fees 512,000 612,423 100,423 - - - 512,000 612,423 100,423 Utility franchise fees 126,000 151,460 25,460 - - - 126,000 151,460 25,460 Street improvement fees - - - 200,000 546,264 346,264 200,000 546,264 346,264 Building and safety fees - - - 350,000 252,909 ( 97,091) 350,000 252,909 ( 97,091) Planning and public works fees - 45 45 343,775 146,296 ( 197,479) 343,775 146,341 ( 197,434) Subventions and grants - - - 748,804 504,429 ( 244,375) 748,804 504,429 ( 244,375) Maintenance assessments - - 294,520 357,283 62,763 294,520 357,283 62,763 Park development fees - - - 132,360 134,493 2,133 132,360 134,493 2,133 Charges for current services 1,900 13,836 11,936 154,300 141,441 ( 12,859) 156,200 155,277 ( 923) Fines Lind forfeitures 3,100 27,471 24,371 150,500 100,072 ( 50,428) 153,600 127,543 ( 26,057) Interest 130,000 264,260 134,260 393,200 833,636 440,436 - 523,200 1,097,896 574,696 Miscellaneous - - _ 5,500 8,900 3,400 5,500 8,900 3,400 Total revenues 1,841,775 2,743,868 902,093 2,996,959 3,276,914 279,955 4,838,734 6,020,782 1,182,048 Expenditures: General government 880,016 820,385 59,631 - - - 880,016 820,385 59,631 Public safety 925,315 914,982 10,333 65,804 62,386 3,418 991,119 977,368 13,751 Public services 42,313 31,250 11,063 1,385,783 1,170,029 215,754 1,428,096 1,201,279 226,817 Park and recreation 240,964 190,015 50,949 149,030 115,773 33,257 389,994 305,788 84,206 Capital outlay 54,900 36,802 18,098 7,326,438 4,143,351 3,183,087 7,381,338 __4 180 153 _ :f,201 ,185 Total expendi- tures 2,143,508 1,993,434 150,074 8,927,055 5,491,539 3,435,516 11,070,563 7,484,973 3,585,590 Excess (deficiency) of revenues over expenditures ( 301,733) 750,434 1,052,167 (5,930,096) (2,214,625) 3,715,471 ( 6,231,829) (1,464,191) 4,767,638 Operating transfers from (to) other funds, net 21,369 21.369 - ( 21,369) ( 21,369) - - _ - Excess (deficiency) of revenues and net operating transfers over expenditures $( 280,364) $ 771,803 $ 1,052.67 $(5,951,465) $(2.235.994) $ 3.715.471 $( 6.231.m" 1114464 A121 i x:. 1.767.638 See accompanying notes to combined financial statements. 4. MOOIIPARK NOTES TO COMBINED FINANCIAL STATEMENTS June 30, 1988 1. Summary of significant accounting policies Basis of accounting Moorpark (the City) accounts for its financial position and operations in accordance with generally accepted accounting prin_ Governmental fund types use a modified accrual basis of ciples applicable to governmental units. Accordingly, the City uses accounting. Revenues are recognized when available uucl muasur- several funds and an account group described below. able. Revenues which are accrued include property taxes, sales taxes collected by the State on behalf of the City prior to year Fund types and account group end, interest and certain other tuxes. Revenues which are not A fund or account group is an accounting entity with a self- considered susceptible to accrual include motor vehicle license balancing set of accounts established to record the financial poli- fees, certain other licenses and fees, fines, forfeitures and tion and results of operations of a specific governmental acti- penalties. Expenditures are recorded when the liability is vity. The City maintains the following fund types and account incurred. Capital outlay expenditures were included in the group: respective functional area expenditures in 1987. Governmental fund types, which include the General Fund, Interfund transactions special revenue funds and capital projects funds, are used to In the course of normal operations, transactions occur among record the general operations of the City. various City funds. Operating transfers (recurring) are recorded by Fiduciary fund type (Agency Fund), which is used to account for the receiving fund as transfers-in and us an addition to fund assets held by the City as an agent for individuals, balance. Such transfers are recorded by the disbursing fund as organizations and other funds. The Agency fund is custodial in transfers-out and a reduction of fund balance. nature (assets equal liabilities) and dues not involve Operating transfers during the year ended .limo 3(1, 1988 include measurement of operations. the following: General Property and Equipment Account Group, which is used to O,craLiu Lruu•,lor• lu (draw account for property and equipment purchased or received by the Special Totals governmental fund types. General Revenue (Memorandum _ Fund Funds __Only)__ The combined financial statements include total columns which Operating transfers (to) from: aggregate the financial statements of the various fund types and General Fund $ - $(21,369) $(11,369) account group. The columns are designated "memorandum only" because Special Revenue Funds: Park Maintenance Fund ( 1,131) - ( 1,131) the totals are not comparable to a consolidation in that interfund Community Center 22x500 _ _ 221500 transactions are not eliminated. 2113G9I(..?I.,:1!111) 5. MOORPARK • NOTES TO COMBINED FINANCIAL STATEMENTS June 30, 1988 1. Summary of significant accounting policies (Cont'd.) Property and equipment Interfund transactions (Cont'd.) Acquisitions of property and equipment are recorded us Due to/from accounts are primarily related to advances made by expenditures in governmental fund types at the Lime of purchase. at cost in the the General Fund to various special revenue funds. These advances These assets, when over $500 each, are capitalized are current and will be repaid from future revenues. General Property and Equipment Account Group. Expenditures fur infrastructure (roads, curbs, sidewalks, etc.) normally are not Property taxes capitalized as such assets are immovable and generally of value only The duties of assessing and collecting property taxes are to the City. No depreciation is provided fur assets capitalized in performed by time Ventura County Assessor and Tax Collector, respec- the General Property and Equipment Account Group. tively. The City receives an allocation of property taxes collected During the year ended June 30, 1984, time County of Ventura by the County with respect to property located within the City transferred certain real property to the City. In addition, the limits. Tax levies cover the period from July 1 to June 30 of each City has received park land from the County of Ventura and from year. All tax liens attach annually on the first day in March pre- developers. The City has not determined fair market values for the ceding the fiscal year for which the taxes are levied. Taxes are land element of this real property or the park land; accordingly, it levied on both real and personal property as it exists on that date. has not been recorded in the General Property and Equipment Account Secured property taxes are levied against real property and are Group. It is the City's intent to value the laud received, us of due and payable in two equal installments. The first installment is the transfer dates, and record such property in Lhe General Property due on November 1 and becomes delinquent if not paid by Decem- and Equipment Account Group during the year ending Julie 30, 1900. bur 10. The second installment is due on February 1 and becomes Deposits delinquent if not paid by April 10. Unsecured personal property taxes are due on July 1 each year. These taxes become delinquent if Deposits principally consist of amounts collected from not paid by August 31. developers for services to be rendered by the City, including engineering plan checks and inspections and planning review The City records property tax revenues in the fiscal year to services. The City will recognize the appropriate amounts us which they relate rather than at the related lien date. Delinquent revenue when the services are performed and Lhe corresponding property tuxes at year end (June 30) are reserved to the extent they expenditures are incurred. arc deemed to be uncollectible within 60 days thereafter, if any. 6. MOORPARK NOTES TO COMBINED FINANCIAL STATEMENTS June 30, 1988 2. Budgetary information (_uri_yi amount The City Council adopts a formal budget at the beginning of the Cash in banks - insured by FDIC $ 2,3O0,178 City's fiscal year providing for operations and capital expenditures Cash in banks - collateralized with of the City's General Fund and special revenue funds. Budgetarysecurities held by an agent but not in the City's name 9,840,149 controls and the levying of taxes are set by the City Council within Investments in State Treasurer's Local state limitations. The legally adopted budget requires that Agency Investment Fund __5L0 UU000 expenditures not exceed appropriations in total for each fund. The 117,146 327 budgetary basis of accounting is consistent with generally accepted accounting principles applicable to the City's financial statements. Credit risk, carrying amount and market value of investments The Council is authorized to make and has made appropriation Investments at June 30, 1988 are categorized in the following adjustments to the budget during the year as deemed necessary. Such manner: adjustments are included in the budget amounts in the accompanying o Cater _ 1: - includes investments that oro insured or regis- combined financial statements. Appropriations lapse at year end. tered or for which the securities are held by the City ur its agent in the City's name. For the year ended June 30, 1988 actual expenditures exceeded Category 2: - includes uninsured and unregistered investments budgeted amounts due to the carryover of prior year expenditures for for which the securities are held by the broker's ur dealer's the following fund: trust department or agent in the City's name. Fund Amount o Category 3 - includes uninsured and unregistered investments for which the securities are held by the broker or dealer or by Community Development Block Grant to Small Cities $70,183 its trust department or agent but not in the City's name. 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 funds' average deposit bal- ance. At June 3U, 1988, the total cash and investments balance comprised the following: 7. MOORPARK NOTES TO COMBINED FINANCIAL STATEMENTS June 30, 1988 3. Cash and investments (Cont'd.) o Repurchase agreements Credit risk, carrying amount and market value of o Passbook savings accounts investments (Cont'd.) o Reverse repurchase agreements Category Carrying Market 1 2 3 amount value 4. Retirement plan Certificates of Plan description deposit $1,875,379 $ - $1,700,000 $ 3,575,379 $ 3,575,379 Cash held by fiscal agent The City contributes to the California Public liuphiyves Retire- (interest bearing) 124,799 - 8,146,149 8,570,948 8,570,948 ment System (PERS), an agent multiple-employer public employee $2,300,178 $ - $9,846,149 12,196,327 12,146,327 retirement system that acts as a common investment and administra- tive agent for participating public entities within the State of Investment in State Treasurer's California. The City's total covered payroll for employees partici- investment pool 5,000,000 _5,000,000 pating in PERS fur the year ended June 30, 1088 was $429,673. The $17,146,327 $17,146,327 City's total payroll for the year was $514,983. Investments policy All full-time City employees are eligible Lu participate in PERS. Benefits vest after five years of service. Employees who The City invests its temporary pooled idle cash and investments retire at or after age 50, with five years of credited service, are in instruments which are allowable under current legislation of the entitled to an annual retirement benefit, payable monthly for life, State of California (Government Code Section 53600 et seq.). in an amount based on the three highest years' salary that varies The State Code permits investments in the following from 1.092% at age 50 to a maximum of 2.418% at age 60 fur each year instruments: of credited service. The system also provides death and survivor's o Securities of the U.S. Government or its agencies benefits. These benefit provisions and all other requirements are o Small business administration loans established by State statute and City ordinance. o Certificates of deposit (or time deposits) placed with Employee and employer contribution obligations commercial banks and/or savings and loan companies o Negotiable certificates of deposit Employees make the contributions for their account. The rate o Bankers' acceptances is set by statute and therefore remains unchanged tram year to o Commercial paper year. The present rate is 7%. o Local Agency Investment Fund (State pool) 8. MOORPARK NOTES TO COMBINED FINANCIAL STATEMENTS June 30, 1988 4. Retirement plan (Cont'd.) The pension benefit obligation applicable to Lhc City's Employee and employer contribution obligations (Cont'd.) employees at June 30, 1987 follows: The City is required to contribute the remaining amounts Pension benefit obligation: necessary to fund the benefits for its members, using the actuarial Retirees and beneficiaries currently basis recommended by PERS actuaries and actuarial consultants and receiving benefits and terminated employees not yet receiving benefits $ 3,198 adopted by the PENS Board of Administration. Current employees: Accumulated employee contributions Funding status and progress including allocated investment earnings 46,510 Employer-financed vested The amount shown below as the "pension benefit obligation" is a Employer-financed non-vested 27,105 standardized measure of the present value of pension benefits, Total pension benefit obligation 76 81:i adjusted for the effects of projected salary increase and step-rate benefits, estimated to be payable in the future as a result of Net assets available for benefits at cost (market value is $137,006) $1_9.930 employee service to date. The measure is intended to help users assess the funding status of the system on a going-concern basis, Actuarially determined contribution requirements and contribution made assess progress made in accumulating sufficient assets to pay bene- fits when due and make comparisons among employers. The measure is PERS uses the entry age normal actuarial cost method. As a the actuarial present value of credited projected benefits and is projected benefit cost method, it takes into account those benefits independent of the funding method used to determine contributions to that are expected to be earned in the future as well Ub those PERS. already accrued. The normal cost for un employee is the level amount which would fund the projected benefit if it were paid The pension benefit obligation was computed as part of an annually from date of employment until retirement. PERS uses a actuarial valuation performed as of June 30, 1987. Significant modification of the entry age cost method in which the employer's actuarial assumptions used in the valuation include (a) a rate of total normal cost is expressed as a level percent of payroll. PERS return on the investment of present and future assets of 8.5% per also uses the level percentage of payroll method to amortize uny year compounded annually; (b) projected salary increase of 5.75% per unfunded actuarial liabilities. The amortization period to the year compounded annually, attributable to inflation and across the unfunded actuarial liability ends on June S_, 2000 fur other board real salary increases; (c) additional projected salary benefits. increases of 1.25% per year, attributable to seniority/merit; and (d) no post retirement benefit increases. 9. MOOItPAIRK NOTES TO COMBINED FINANCIAL STATEMENTS June 30, 1988 4. Retirement plan (Cout'd.) 5. General property and equipment Actuarially determined contribution requirements A summary of changes in the General Properly and Lquipmuat and contribution made (Cont'd.) -- Account Group for the year ended June 30, 1988 follows: The significant actuarial assumptions used to compute the Balance, Balance, actuarially determined contribution requirement Lire the same as June 30, .lune 30, those used to compute the pension benefit obligation. _ 1987 Additions Uislosrls 1988___ Buildings and The City's contributions to PERS for 1988 of $30,077 was made structures $690,000 $449,009 $ $I,139,069 in accordance with actuarially determined requirements computed Improvements other through an actuarial valuation performed as of June 30, 1987. The than buildings 524,058 524,058 contribution consisted of $62,694 normal cost (14.59 percent of Office furniture current covered payroll) less $32,617 (7.59 percent of current and equipment 106,464 23,216 129,080 covered payroll) dollar fur dollar reduction of the overfunded Other equipment ____14,364 2301.1 37.1978 liability. $810,828020,55,7 . . - 11,831,385 Trend information Trend information gives an indication of the progress made in 6. Deficit fund balances accumulating sufficient assets to pay benefits when due. Until tun The fallowing funds have deficit equity Iraluur: ;:, ai June 3U, years of data are available, as many years as are available will be 1988 in the amounts indicated: presented. Trend information for the City is only available for the Special Revenue: year ended June JU, 1988 and is summarized us follows: Transportation Development AcI (Article :1) Fund $10,7130 Park Bond Act Fund 603 Net assets available for benefits expressed as Senior Center Bond Act Fund 6,316 u percentage of the pension obligation 142.46% Capital Projects: Redevelopment Agency 15,290 Assets in excess of pension benefit obligation, expressed as a percentage of annual covered payroll 7.59% The deficits were funded by advances From lire General Fund and are expected to be eliminated in subsequent. years lhrouglr opera Li rig transfers and funds to be received from Stale sourer S. 10. MOORPARK NOTES TO COMBINED FINANCIAL STATEMENTS June 30, 1988 7. Commitments and contingencies 8. Single family residential mortgage revenue Lund pLugram Commitments The City sponsored a revenue bond program during the year ended The City has contracted with the County of Ventura for various June 30, 1985 under which $20,OOO,000 of Single Family Residential services, principally law enforcement. These contracts are can- Mortgage Revenue Bonds were issued. Thu single family mortgage program is designed to provide funds to acquire mortgage loans on tellable by the City or the County on May 31 of each year after thirty days' notice has been given, and are renegotiated annually. single family residences located in the City. These bonds are The aggregate of these contractual commitments total approximately secured by a pledge of all luaus receivable advanced tram the bond $959,000 for the year ending June 30, 1989. proceeds by the Trustee, First Interstate Bunk of California, and are serviced from payments on the loans to the Trustee. The City has contracted with outside construction companies for the construction of the Tierra Rejada Bridge and City Hall. The The City sponsored a revenue bond program during the year coded remaining commitment at June 30, 1988 is approximately $868,000. June 30, 1986, under which $22,600,000 of Multi-Family Housing Revenue Bonds were issued. The program is designed Lu ussisl in The City signed a settlement agreement in July 1988 to reim- making low and moderate cost rental housing available in the City. burse a third party for the cost of certain road improvements to be The City is guaranteed that 10% of the units of the project financed made. The estimated cost of the road improvements is $500,000. with the bonds are made available to persons and families with Contingencies incomes not exceeding 80% of the County median income and another There are certain legal actions pending against the City which 10% of the units for persons and families with income not exceeding management considers incident to normal operations, some of which 50% of the County median income. The units are available under this seek substantial monetary damages. In the opinion of management, program for a thirty-year period. These Loads are secured by u let- after consultation with counsel, the ultimate resolution of such ter of credit issued by Citibank, N.A., fluted December 23, 1985. actions is not expected to have a significant effect on the Finan_ The program is administered by the Trustee, Security Pacific tial. position or the results of operations of the City. National Bank. 11. MOORPARK NOTES TO COMBINED FINANCIAL STATEMENTS June 30, 1988 8. Single family residential mortgage revenue bond program (Cont'd.) 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 stand-by letter of credit issued by Security Pacific National Bank. Dai 'chi Kangyo Bank of California serves as the Trustee for these bonds. The bonds described above are not indebtedness of the City, and there exists no legal or 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 frum the accompanying combined financial statements. 12. ADDITIONAL FINANCIAL INFORMATION 5chedule_I Page 1 of 4 MOORPARK COMBINING BALANCE SHEET ALL SPECIAL REVENUE FUNDS June 30, 1988 Local Local State Traffic Park Community Transportation Transportation Transit Safety State Gas Development Center - Streets Transit Assistance Fund (02) Tax Fund (03) Fund (05) Fund 12/L Fund S1l1 Fund (12) Fund_(I3) ASSETS Cash and short-term investments $267,790 $937,760 $2,805,762 $ 3,309 $ - $ 1,228 $58,477 Accounts and interest receivable 9 551 34,289 22,623 - 225,387 20,101 603 $277,341 $972,049 $ ,828,385 1_2.1E12 $225 387 1:11,V9 ipJ•080 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable and accrued liabilities $ 12,365 $ 13,032 $ 21,777 $ 602 $ - $ 6,733 $ - Contracts payable - - - - - - - Deferred revenue - - - - - - - Due to other funds - - - - 1081743 ___..____ ______ Total liabilities 12,365 13,032 21,777 602 108,743 6,733 - Fund balances - unreserved: Designated - 500,000 - - - - Undesignated 264,976 459,017 2,806,608 2,707 116644 14,596 59080 Total fund balances (deficit) 264,976 959,017 2,806,608 2,707 116,644 14 596 59 080 277,341 $972,049 $2,828.385 $ _33219 $225,387 5l21_,:i::S) '59 13. '6I F6R'617 IT 14f-7 66T 11 Z5W OOG7 7-077-1 Ca77-17 Z(IR'Rf:S - 0££705 - - (9RL'011--- (11ni.lnp) snour.Trq pnn;I 1721o1 .-63-1'-k .- Of.f. O5 - - (98L 1515 palr.u9TsnpuO - _ _ _ _ - palru8Isan :pon.insaaun - saourTr.q pun,.( 160'ZOR 151 6T8'S6 Z56'OOL ZO9'16 59Z'T saT1TTTgrTT 1171o1, - - 9i£LZ - spunj aaylo of an0 - - - - 9R7.'61 - anusAna paaaaja(i g9E'55 - - - - - aigrRrd sloralno:l 97.L'915 t 151 $ 618'56 $ Z56'OOL$ 000'56 $ 59Z'T $ saT11TTgr1T Ponanar pur sigrArd slunoozV :sat111Tgr11 SHONV'TVR (IN0.1 ONV S;lIa,1i111V1'1 1:7617717 151 661'961$ 256 ooL ' 77'T66$ (tZ5'6)$ 96F.'LI - - - - ZO9716 - -- spirATaoaa lsaaaluT pun slum-.10v 866'£Z1:'I$ 151 $ 661'96T$ Z56'00L$ - $ (IZ5'63 sluawlsanuT wail-lao7Ts pur qsn- S IR RS V 9 3 Plii:r )nN (97) pnii,q--- -rZjpund ZoZTpund -17,11 punct -MIPund prog nnnnfaln!r.Iy Rn11g8T1 aad aT1 saT1TO TTrUS (£ ai'TlaV) Intl x.lndaooly )land pun -MTTond of slufJO luauidolona0 /rpnfall adrospurq aaid pun moofl luawdoia uoTlrlaodsuray naanra, ao1Tod -no(' ,(1Tunwwo0 8861 '0£ aunp SONOd 80NSA8I1 9VT08d8 99V 1888S 1)NV'IVR ONINI8400 ANVd8O011 6 In Z o9n4 -,1 ni,aii:, Schedule 1 Page-5 of 4 MOORPARK COMBINING BALANCE SHEET ALL SPECIAL REVENUE FUNDS June 30, 1988 Los office of Los Casey/ Angeles Traffic Senior Angeles Gabbert Avenue Alter- and Safety Center Avenue Road nate Route Recreation Grant Bond Act AOC Fund (27) AOC Fund (28) Fund129) Fund (33)_ Fund (31) Fund 135 ASSETS Cash and short-term investments $4,065,070 $ 1,969 $859,349 $25,872 $ - $ - Accounts and interest receivable 33,080 - _ 3,318 - _26,887 _2,723 $4,098.150 1_1 969 $862,667 $25,872 "G(i,88.7 1_6,723 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable and accrued liabilities $ 24,556 $ - $ - $17,463 $ - $ 2,331 Contracts payable - - - - - - Deferred revenue - - - - - - Due to other funds - - - _26,887 6,708 Total liabilities 24,556 - - 17,463 26,886 9,03J Fund balances - unreserved: Designated - - - - - Undesignated 4,073,594 _ 1,969 862,667 8409 _(6,316) Total fund balances (deficit) 4,073,594 1,969 _862,667 8,409 _ (6,316) 14.098,150 $ 1,969 $862,667 25.872 ilk.8P i 2,763 15. Schedule 1 Page 4 of 4 MOORPARK COMBINING BALANCE SHEET ALL SPECIAL REVENUE FUNDS June 30, 1988 Bicycle Park Bond Commmunity Crossing and Totals Act Development Guard Equestrian Year ended Year ended Fund (38) Fund (41) Fund (43) Fund (47) June 302_ 1988 .June 30, 1987 ASSETS Cash and short-term investments $ - $1,110,480 $ 84,303 $ 16,867 $12,399,465 $13,841,762 Accounts and interest receivable 33,020 - 302 101 520,982 210,983 $ 33,020 $1,110,480 $ 84,605 116,968 $12,920,417141052,745 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable and accrued liabilities $ - $ 95,532 $ - $ - $ 1,584,30-1 $ 958,536 Contracts payable - - - - 255,365 - Deferred revenue - - - - 19,286 - Due to other funds 33,623 - - - 203,277 - Total liabilities 33,623 95,532 - - 2,062,232 958,536 Fund balance unreserved: Designated - - - - 500,000 - Undesignated ( 603) 1,014,948 84,605 16,968 _10,358215 13,094,209 Total fund balances (deficit) ( 603) 1,014,948 84,605 16,968 10„858 215 13,094,209 $ 33,020 $1,110,480 $ 84,605 $ 16,968 112,920,!141 11 052,745 16. schedule 2 I'uge 1 of 4 MOORPARK COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL SPECIAL REVENUE FUNDS Year ended June 30, 1988 Local ILucul State 'traffic State Park Community 'I'ruusport.ul.ion 'fruu::p"rlat.iou 'transit Safety Gas Tax Development Center - Streets Transit Assistance Fund (02) Fund (03) Fund (05) Fund (07) Fund JjLL Fund (12) Fund (13) Revenues: Property taxes $ - $ - $ - $ - $ - $ - $ - Taxes other than property taxes - 250,525 - - - - - Street improvement fees - - - - - - - Building and safety fees - - - - - - - Maintenance assessments - - - - - - Subventions and grants - - - - 225,387 20,000 - Planning and public works fees - - - - - - - Park development fees - - 134,493 - - - Charges for current services - - 5,020 24,887 - - Fines and forfeitures 100,072 - - - - - - Interest 18,395 66,802 217,831 - - 1,717 5,808 Miscellaneous - 340 - 320 Total revenues 118,467 317,667 357,344 25,207 225,387 21,717 5,808 Expenditures: General government - - - - - - Public safety - - - - - - Public services 67,730 136 - - 84,988 24,984 - Parks and recreation - - - - - - - Capital outlay 2,594 21,265 561625 _ 23755 _ __-___ Total expenditures ?0,324 21401 561,625 _ 1081743 L-I1Dri4 ___ __ Excess (deficiency) of revenues over expenditures 48,143 296,266 ( 204,281) 25,207 116,6.1.1 ( 3,2617) 5,808 Operating transfer from (to) other funds - - - ( 22,500) « _ i Excess (deficiency) of revenues and net operating transfers over expenditures 48,143 296,266 ( 204,281) 2,707 116,644 ( 3,201) 5,808 Fund balances (deficit), beginning of year 216,833 662,751 3,010,889 - __ _ 17,8933 _5:31173 Fund balances (deficit), end of year $264.9'16 $ 959,017 $2,806,608 1,_, 2,707 . 116,64-1 i _11,hJt3 X59,,080 17. • Schcdulu_2 Page -2 of 4 MOORPARK COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL SPECIAL REVENUE FUNDS Year ended June 30, 1988 Community Dev- Tierra Transportation elopment Block Landscape Rejada/ l,us Development Grants to and Park Moorpark Angeles Act (Article 3) Small Cities Lighting Maintenance Road Avuuau Fund (15) Fund (17) Fund03) Fund 125) AOC Fund (26) AOC_Fund_ (27Z Revenues: — — -- - - Property taxes $ - $ - $ 666 $ - $ - $ - Taxes other than property taxes - - - - _ - Street improvement tees - - - - _ - Building and safety - - - - - - Maintenance assessments - - 164,915 380 -- 191,968 Subventions and grants - 72,314 - - - - Planning and public works fees - - 2,036 - - - Park development fees - - - - _ - Charges for current services - - - 456 - - Fines and forfeitures - - - - - - Interest - - - - 167,468 316,517 Miscellaneous - 8`040 — Total revenues - 72,314 175,657 836 107,466 510,505 Expenditures: General government - - - - - - Public safety - - - - - - Public services - 167,383 232,955 - -- - Parks and recreation - - - - _ - Capital outlay 3,163 __861407 —__ 218'201-19.1 576L944 Total expenditures 3,163 167,383 319,362 _-218201491_ __ 570L944 Excess (deficiency) of revenues over expenditures ( 3,163) (95,069) (143,705) 836 (2,653,003) ( 66,439) Operating transfers from (to) other funds - -__ - — 131 _ - _ Excess (deficiency) of revenues and net operating transfers over expenditures ( 3,163) (95,069) (143,705) 1,967 (2,653,003) ( 00,439) Fund balances (deficit), beginning of year __L 7„623) 95 069 _-_..-_ _194,035 _ 1 (9') __3_.191_. .8q5 i_.1 19)_..65 1,110t Oaa — 391. ---D_. --- Fund balances (deficit), end of year $(10,766) §----------:. i_5013301------7. - 538/862 12I,OY3594 18. Schedule 2 Page3 of 4 MOORPARK COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL SPECIAL REVENUE FUNDS Year ended June 30, 1988 Los Angeles Casey/ Avenue Gabbert Alternate Office of Senior Center Road AOC Route Recreation Traffic Safety Bund Act Fund (28) Fund (29) Fund (331 _Fuund 134) ___ Fund (35) Revenues: Property taxes $ - $ - $ - $ - $ - Tuxes other than property tuxes - - - - - Street improvement fees - 530,264 - - - Building and safety - - - - - Maintenance assessments - - - - - Subventions and grants - - - 62,386 4,723 Planning and public works fees - - - - - Park development fees - - - - - Churges for current services - - 111,078 - - Fines and forfeitures - - - - - Interest - 31,949 - - - Miscellaneous - - 200 - Total revenues - 562,213 111,278 62,386 4,723 Expenditures: General government - - - - - Public safety - - - 62,386 - Public services - 8,767 - - - Parks and recreation - - 115,773 - - Capital outlay - - - 12371 Total expenditures - 81767 115,773 _.____- 62,386 121471 Excess (deficiency) of revenues over expenditures - 553,446 ( 4,495) - ( 7,748) Operating transfers from (to) other funds - Excess (deficiency) of revenues and net operating transfers over expenditures - 553,446 ( 4,495) - ( 7,7.18) Fund balances (deficit), beginning of year 1,969 _309221 ___ 12,904 _ _ ____1 ,432 Fund balances (deficit), end of year $ 1 .969 $ 862.667 _ 8.409 L....,_,6,316.) 19. Schedule 2 Page 4 of 4 MOORPARK COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL SPECIAL REVENUE FUNDS Year ended June 30, 1988 Bicycle Park Bond Community Crossing and Tuials Act Development Guard Equestrian Year ended Year ended Fund (38) Fund (41) Fund (43) Fund (47) June 30„ .1988 June_30 1987 Revenues: Property taxes $ - $ - $ - $ - $ 666 $ 10,759 Taxes other than property taxes - - - - 250,525 255,731 Street improvement fees - - - 16,000 546,26-1 -1,035,054 Building and safety fees - 252,909 - - 252,909 Maintenance assessments - - - - 357,283 230,475 Subventions and grants 33,020 - 86,599 - 504,429 781,244 Planning and public works fees - 144,260 - - 146,296 - Park development fees - - - - 134,193 1,903,821 Charges for current services - - - - 141,4.11 93,906 Fines and forfeitures - - - - 100,072 96,130 Interest - - 4,161 968 83:1,630 709,441 Miscellaneous - - - 8,9011 27 759 Total revenues 33,020 397,169 90,760 16,968 3,276,911 8,150,320 Expenditures: General government - - - - - 17,588 Public safety - - - - 62,386 52,547 Public services - 576,931 6,155 - 1,170,029 1,797,970 Parks and recreation - - - - 115,773 302,200 Capital outlay 33,623 1,013 - - ____4L143,351 Total expenditures -33,623 577,944 _ 6,155 _ 5,491,539 2,1'10305 Excess (deficiency) of revenues over expenditures ( 603) ( 180,775) 84,605 16,968 ( 2,214,625) 5,980,015 Operating transfers from (to) other funds - _ 21,3119) ___.1151,680 Excess (deficiency) of revenues and net operating transfers over expenditures ( 603) ( 180,775) 84,605 16,968 ( 2,235,001) 7,131,695 Fund balances (deficit), beginning of year - 1,195723 _ - = 1309-1209 __5,902.514 Fund balances (deficit), end of year IL 603) $ 1,014,948 $ 84,605 1_ 16968 1_1E1,858 21.11 1.I3,094 209 20. Schedule 3 Page 1 of 7 MOORPARK COMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS • Year ended June 30, 1988 Traffic Safety Fund (02) State Gas Tax Fund_5031._ __ Park_I)eveli teiL Fund. (05).__ Variance- Variance- Variance - favorable favorable favorable (unfavor- (unfavor- (unfavor- Budget Actual able) Budget Actual able) Budt Aelnul ubieL_ Revenues: Property taxes $ - $ - $ - $ - $ - $ - $ - $ - $ - Taxes other than property taxes - - - 224,000 250,525 20,525 - - Street improvement fees - - - - - - - - - Building and safety fees - - - - - - - - - Maintenance assessments - - - - - - - - - Sultventions and grunts - - - - - - - - - Planning and public works - - - - - - - - - Park Development fees - - - - - - 132,360 134,1113 2,133 Charges for current services - - - - - - 13,800 5,020 ( 8,780) Fines and forfeitures 84,000 100,072 16,072 - - - - - - Interest 13,500 18,395 4,895 51,700 66,802 15,102 90,000 217,831 127,831 Miscellaneous - - - 5 500 340 1__ 5,160) - - ._-_____„_ Total revenues 97,500 118,467 20,967 281,200 317,667 36,467 236,160 357,34-1 121 ,184 Expenditures: General government - - - - - - - - - Public safety - - - - - - - - - Public services 72,957 67,730 5,227 3,916 136 3,780 - - - Parks and recreation - - - - - - - - - Capital outlay 2,594 2,59.1 - 350,096 21,265 328,831 1211_1725 __561, 25 650,100 Total expenditures 75,551 70,324 5 227 354012 21401 __332411 __1211,725 , 5612625 050,100 Excess (deficiency) of revenues over expenditures 21,949 48,143 26,194 ( 72,812) 296,266 369,078 ( 975,565) (204,281) 771,284 Operating transfers from (tu) other funds - - - - - - Excess (deficiency) of revenues and Hut operating transfers over expenditures lalart ; 48,143 1.111.12.1 ,$( 72,812) $296,266 $ 3691078 , 978,505) $(204,282) 1.771 .'284 21. Schedule :i Page 2 of 7 MOORPARK COMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS • Year ended June 30, 1988 Local Transportation - Local Transportation - Community Center Fund (07) Streets Fund (11) Transit Fund 112) State Transit AssisLanci Fuud_513) Variance- Variance- Variance- Variance- favorable favorable favorable favorable (unfavor- (unfavor- (unfavor- (unfavor- Budget Actual able) Budget Actual able) Budget Actual able) Uud g t Actual ablel Revenues: Property tuxes $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Tuxes other than property Luxes - - - - - - - - - - - Stree:t improvement fees - - - - - - - - - -Building and and safety fees - - - - - - - - - -- - - Maintenance assessments - - - - - - - - - - - - Subventions and grants - - - 242,300 225,387 ( 16,913) 20,000 20,000 - - - - Planning and public works - - - - - - - - - - - - l'ark development fees - - - - - - - - - - - - Charges for current services 22,500 24,887 2,387 - - - - - - - - - Fines and forfeitures - - - - - - - - - - - - interest - - - 3,600 - ( 3,600) 300 1,717 1,417 - 5,808 5,808 Miscellaneous - 320 320 - - - Total revenues 22,500 25,207 2,707 245,900 225,387 ( 20,513) 20,300 21,717 1,417 - 5,808 5,808 Expenditures: General government - - - - _ - - - - - - - Public safety - - - - - - - - - - - - Public services - - - 139,296 84,988 54,308 28,600 2.1,984 3,616 - - - Parks and recreation - - - - - - - - - - - - Cupital outlay - - - 106`604 23,755 82,849 849 - - - - Total expert_ - - - -- - - - --- -- ditures - - _- - 245,900 108,743 137,157 28,600 2484 __ 3,616 _ _ - Excess (deficiency) of revenues over expenditures - - - - 116,644 116,644 ( 8,300) (3,267) 5,033 - 5,808 5,808 Operating transfers from (lo) other funds (22,500) (22,500) - Excess (deficiency) of revenues and net operating transfers over expenditures $ - $ 2,707, $ 2,707 __- _ $116,644 $116,644 $ (8,300) 1_12,267) § 5,033 - 1_!!`80.1 l__5.b08 22. Schedule 3 Page 3 of 7 MOORPARK COMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS Year ended June 30, 1988 Community Development Transportation Development Block Grants to Police and Fire Landscape and Act (Article 3) Fund (15) Small Cities Fund (17) Facilities Fee Fund (20) _ i; Lightin _Fund__1231--_- Variance- Variance- Variance- Variance- favorable favorable favorable favorable (unfavor- (unfavor- (unfavor- (unfavor- Budget Actual able) Budget Actual able) Budget Actual able) Budget Actual -__able) Revenues: Property taxes $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 6116 $ 666 Taxes other than property taxes - - - - - - - - - - - - Street improvement fees - - - - - - - - - - - - Building and safety fees - - - - - - - - - - - - Maintenance assessments - - - - - - - - - 198,520 164,915 (33,605) Subventions and grants 66,000 - (66,000) 97,200 72,314 (24,886) - - - - - - Planning and public works - - - - - - - - - - 2,036 2,036 Park development fees - - - - _ - - - - - - - Charges for current services - - - - - - - - - - - - Fines and forfeitures - - - - - - 66,500 - (66,500) - - - Interest - - - - - - - - - - - - Miscellaneous - - - - _ _ - - - _ 8 040 - 8,040 Total revenues 66,000 - (66,000) 97,200 72,314 (24,886) 66,500 - (66,500) 198,520 175,657 (22,863) Expenditures: General government - - - - - - - - - - - - Public safety - - - - - - - - - - - - Public services - - - 97,200 167,383 (70,183) - - - 269,247 232,955 36,292 Parks and recreation - - - - - - - - - - - - Capital outlay 66,000 3,163 620837 - - - - - - _ 86,907 86,407 Total expen- ditures - - -- - --- - 66,000 3,163 62,837 97,200 167,383 (70,183) - - - 355654 -319,362 36,292 Excess (deficiency) of revenues over expenditures - (3,163) (3,163) - ( 95,069) (95,069) 66,500 - (66,500) (157,134) (143,705) 13,429 Operating transfers from (to) other funds - - - - _ - _ - Excess (deficiency) of - - - - - - - ----- revenues and net operating transfers over expenditures $ -, $(3.163) $( 34163) $ _ $( 95,069) $(95,069) $66.500 $ __ $(66,500) $(1$7,_134) lo93,,705) $ 13 02 9 23. Schedule_3 Page 4 of-/ MOORPARK COMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS Year ended June 30, 1988 Tierra Rejada/Moorpark Park Maintenance Fund (25) Road AOC Fund (26) Los Angeles Avenue AOC Fund--(271_____ Variance- Variance- Variance- favorable favorable favorable (unfavor- (unfavor- (unfavor- Budget Actual able) Budget Actual able) Budget Actual —_ab1el_ Revenues: Property taxes $ - $ - $ - $ - $ - $ - $ - $ - $ - Taxes other than property taxes - - - - - - - - - Street improvement fees - - - - - - - - - Building and safety fees - - - - - - - - - Maintenance assessments - 380 380 - - - 96,000 191,988 95,988 Subventions and grants - - - - - - - - - Planning and public works - - - - - - - - - Park development fees - - - - - - - - - Charges for current services - 456 456 - - - - - - Fines and forfeitures - - - - - - - - - Interest - - - 75,000 167,488 92,488 133,100 318,517 185,417 Miscellaneous - - - - - - - Total revenues - 836 836 75,000 167,488 92,488 229,100 510,505 281,405 Expenditures: General government - - - - - - - - - Public safety - - - - - - - - - Public services - - - - - - - - - Parks and recreation 31,030 - 31,030 - - - - - - Capital outlay - - - 3,551,914 2820491 731,423 1,773,085 576944 1,196L141 Total expenditures 31,030 - 31,030 3551,914 2,820,491 731,423 1,773,085 - 576,9-14 _1,196,141 Excess (deficiency) of revenues over expenditures ( 31,030) 836 31,866 (3,476,914) (2,653,003) 823,911 (1,543,985) ( 66,439) 1,477,546 Operating transfers from (to) other funds 1,131 11131 _ - 235,357 - 2351357 235,357) 23_,,357 Excess (deficiency) of revenues and net operating transfers over expenditures $( 29.899) $ 1,967 $31,866 $(3,241,557) $(2,653,003) ; 588.554 $(1.779.342) IL 66,9391 11-,712903 24. Schedule_3 Page 5 of 7 MOORPARK COMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS Year ended June 30, 1988 Los Angeles Avenue Office of Traffic Alternate Route Fund (29) Recreation Fund (33) SafelFund Sad) Variance- Variance- Variance- favorable favorable favorable (unfavor- (unfavor- (unfavor- Budget Actual able _ Budget Actual able) Budget _ Actual _ able) Revenues: Property taxes $ - $ - $ - $ - $ - $ - $ - $ - $ - Taxes other than property taxes - - - - - - - - - Street improvement fees 200,000 530,264 330,264 - - - - - - Building and safety fees - - - - - - - - - Maintenance assessments - - - - - - - - - Subventions and grants - - - - - - 65,804 62,386 (3,418) Planning and public works - - - - - - - - - Park development fees - - - - - - - - - Charges for current services - - - 118,000 111,078 (6,922) - - - Fines and forfeitures - - - - - - - - - Interest 26,000 31,949 5,949 - - - - - - Miscellaneous - - - - 200 200 - Total revenues 226,000 562,213 336,213 118,000 111,278 (6,722) 65,804 6'9,386 (3,418) Expenditures: General government - - - - - - - - - Public safety - - - - - - 65,804 62,386 3,418 Public services 17,000 8,767 8,233 - - - - - - Parks and recreation - - - 118,000 115,773 2,227 - - - Capital outlay - - - - - ---- . - - - Total expenditures 17,000 8,767 8233 118,000 115,773 _ 2,227 65L804 62,386 _3,418 Excess (deficiency) of revenues over expenditures 209,000 553,446 344,446 - ( 4,495) (4,495) - - - Operating transfers from (to) other funds - - - - _ - - _- Excess (deficiency) of revenues and net operating transfers over expenditures $209,000 ;553,446 $344,446 1------z. $( 4.495) $(4.495) 2.-_ __- 25. Schedule :i Page 6 of 7 MOORPARK COMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS Year ended June 30, 1988 Senior Center Bond Act Fund (35) Park Bond Act Fund _(38). Community Development Fund (41)_ Variance- Variance- Variance- favorable favorable favorable (unfavor- (unfavor- (unfavor- Budget Actual able) Budget Actual able) Budget Actual able) Revenues: Property taxes $ - $ - $ - $ - $ - $ - $ - $ - $ - Taxes other than property taxes - - - - - - - - - Street improvement fees - _ - - - - - - - Building and safety fees - - - - - - 350,000 252,909 ( 97,091) Maintenance assessments - - - - - - - _ - Subventions and grants 135,000 4,723 (130,277) 42,000 33,020 ( 8,980) - - - Planning and public works - - - - - - 343,775 144,260 (199,515) Park development fees - - - - - - - - - Charges for current services - - - - - - - - - Fines and forfeitures - - - - - - - - Interest - - - - - - - - - Miscellaneous - - - - - - - _ 51949 Total revenues 135,000 4,723 (130,277) 42,000 33,020 ( 8,980) 693,775 397,1110 (296,606) Expenditures: General government - - - - - - - - - Public safety - - - - - - - - - Public services - - - - - - 751,297 576,931 174,366 Parks and recreation - - - - - - _ - - Capital outlay 135,000 12,471 122,529 42,000 33,623 8,377 1013 1,013 Total expendi- tures 135,000 12,471 122,529 42,000 33,623 8,377 752,310 5771914 _174 366 Excess (deficiency) of revenues over expendi- tures - (7,748) ( 7,748) - ( 603) ( 603) ( 58,535) (180,775) (122,240) Operating transfers from (to) other funds - - - - Excess (deficiency) ofrevenues and net operating transfers over expenditures $ - $(7.748) 21-22.111) ; - $( 603) §-.L.---0-1) $( 58,535) $(180,775) $(]'12,2-10) 26. Schedule 3 Page 7 of 7 MOORPARK COMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS Year ended June 30, 1988 Crossing Guard Fund (43) Bicycle and Equestrian Fund (47) Totals Variance- Variance- Variance- favorable favorable favorable (unfavor- (unfavor- (unfavor- Budget Actual able) Budget Actual able) Budget Actual__ able) Revenues: Property taxes $ - $ - $ - $ - $ - $ - $ - $ 666 $ 666 Taxes other than property taxes - - - - - - 224,000 250,525 26,525 Street improvement fees - - - - 16,000 16,000 200,000 546,264 346,264 Building and safety fees - - - - - - 350,000 252,909 ( 97,091) Maintenance assessments - - - - - - 294,520 357,283 62,763 Subventions and grants 80,500 86,599 6,099 - - - 748,804 504,429 ( 244,375) Planning and public works- - - - - - - 343,775 146,296 ( 197,479) Park development fees- - - - - - - 132,360 134,493 2,133 Charges for current services - - - - - - 154,300 141,441 ( 12,859) Fines and forfeitures- - - - - - - 150,500 100,072 ( 50,428) Interest - 4,161 4,161 - 968 968 393,200 833,636 440,436 Miscellaneous - - - - - - 5.500 8,900 3,400 Total revenues 80,500 90,760 10,260 - 16,968 16,968 2,996,959 3,276,914 279,955 Expenditures: General government - - - - - - - - - Public safety - - - - - - 65,804 62,386 3,418 Public services 6,270 6,155 115 - - - 1,385,783 1,170,029 215,754 Parks and recreation - - - - - - 149,030 115,773 33,257 Capital outlay - - - - - - 7,326,438 4,143351 3,183,087 Total expendi- tures 6,270 6,155 115 - - - 8,927,055 5,491,539 _ 3,4351516 Excess (deficiency) of revenues over expendi- tures 74,230 84,605 10,375 - 16,968 16,968 (5,930,096) (2,214,625) 3,715,471 Operating transfers from (to) other funds - - - - - _ ( 21,369) .._1 - --.- Excess (deficiency) of revenues and net operating transfers over expenditures ; 74.230 $ 84,605 1 10,375 1----- .7. $16,968 ;16.968 $(5.951,465) $(2,235,994) 1 3,715,471 27. Schedule 4 MOORPARK COMBINING BALANCE SHEET ALL CAPITAL PROJECTS FUNDS June 30, 1988 Totals Year ended Year ended City Hall Building Fund Equipment Replacement Fund Redevelopment Agency Fund June 30 1988 June 30, 1987 ASSETS Cash and short-term investments $253,354 $ 21,735 $ 39,710 $314,799 $536,388 Accounts and interest receivable 3,117 201 - 3,318 4,102 $256.471 $ 21.936 $ 39,710 $318,117 $510.490 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable and accrued liabilities $ 78,568 $ - $ - $ 78,568 $ 1,454 Contracts payable 38,109 - - 38,109 - Due to other funds - - 55,000 55,000 - Total liabilities 116,677 - 55,000 171,677 1,454 Fund balances (deficit) - unreserved 139,794 21,936 (15,290) 146,440 539,036 $256.471 $ 21,936 $ 39,710 $318,117 $540.490 28. Schedule 5 MOORPARK COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL CAPITAL PROJECTS FUNDS Year ended June 30, 1988 • Totals Redevelopment Year ended Year ended City Hall Building Fund Equipment Replacement Fund Agency Fund June 30, 1988 June 30, 1987 Revenues: Property taxes $ - $ - $ - $ - $ - Taxes other than property taxes - - - - - Street improvement fees - - - - - Maintenance assessments - - - - - Subventions and grants - _ - - - Park development fees - - - - - Charges for current services - - - - - Fines and forfeitures - - - - - Interest 30,012 1,936 1,391 33,339 40,283 Miscellaneous - - - - Total revenues 30,012 1,936 1,391 33,339 40,283 Expenditures: General government - - - - 36,167 Public safety - - - - - Public services - - 16,681 16,681 - Parks and recreation - - - - - Capital outlay 409,254 - - 409,254 - Total expenditures 409,254 - 16,681 425,9:35 36,167 Excess (deficiency) of revenues over expenditures (379,242) 1,936 (15,290) (392,596) 4,11d Operating transfers from other funds - - - - 87,000 Excess (deficiency) of revenues and net operating transfers over expenditures (379,242) 1,936 (15,290) (392,596) 91,116 Fund balances, beginning of year 519,036 20,000 - 539,036 447,920 Fund balances (deficit), end of year $ 139,794 $21,936 $(15,290) ; 146,440 $539,1136 29. GENERAL PROPERTY AND EQUIPMENT ACCOUNT GROUP Schedule 6 MOORPARK STATEMENT OF GENERAL PROPERTY AND EQUIPMENT ACCOUNT GROUP June 30, 1988 Office Total furniture property Buildings Improvements other and Other and and structures thanbuildipis e�cuipment EAuipmeut equipment General government $ 449,669 $ - $129,680 $37,978 $ 617,327 Cultural and recreation: Resulting from transfer of property by the County of Ventura 690,000 - - - 690,000 Purchased - 524,058 _ - __524,058 $1,139,669 $524,058 $129,680, k37,078 kl 831.385 30.