Page 2 - 2020 Popular Annual Financial Report

CITY OF MORENO VALLEY popular annual
FINANCIAL & MANAGEMENT SERVICES
14177 Frederick Street. FINANCIAL REPORT
Moreno Valley, CA 92552-0805
951.413.3021 | www.moval.org
FISCAL YEAR ENDED JUNE 30, 2020

about THIS REPORT

The City of Moreno Valley is pleased to present the Popular Annual Financial Report (PAFR) for the fiscal year ended June 30, 2020. This is a
user-friendly annual companion to the Comprehensive Annual Financial Report (CAFR), making the City’s finances increasingly transparent and
accessible to all Moreno Valley Residents. As the second largest city in Riverside County, Moreno Valley remains as one of the most desirable
places to live in the Inland Empire.

The PAFR is a summary of the financial activities of the City of Moreno Valley and is drawn from information found in the 2020 CAFR. Both reports
are available online at http://www.moval.org. It is important to note that the financial data in this report is unaudited, includes information
exclusively on primary government funds and is presented on a non-GAAP (Generally Accepted Accounting Principles) basis. This means that
it excludes discrete component unit and fiduciary fund information, contains condensed financial information and does not provide all of the
necessary financial statements and note disclosures required by GAAP standards. However, we believe that the information presented in this
PAFR is a balanced and fair summary of the audited CAFR, providing our citizens with a good understanding of the financial health of our city.

We thank you for taking the time to learn about your City’s finances and your shared commitment to the success and vibrancy of our growing
community and invite you to access our audited financial statements and completed CAFR online for more detailed information on your City’s
finances.

We welcome your questions, comments and suggestions regarding the information of this report. Contact us at the City of Moreno Valley,
Financial & Management Services Department, at 14177 Frederick Street, Moreno Valley, CA 92552-0805, Tel. 951.413.3021.

table of

CONTENTS

City Organization .................................................................................................................................................................................3
GFOA Award ............................................................................................................................................................................................4

About Moreno Valley ........................................................................................................................................................................5
General Fund Reserves & Unassigned Fund Balance .............................................................................................7
General Fund Revenues .................................................................................................................................................................8
Property Tax & Sales Tax ................................................................................................................................................................9
General Fund Expenditures ..................................................................................................................................................... 10

Change in Net Position ..................................................................................................................................................................11
Community Services District ....................................................................................................................................................12
Moreno Valley Electric Utility ...................................................................................................................................................13

Long Term Debt ................................................................................................................................................................................14
Glossary ....................................................................................................................................................................................................15

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