Page 109 - Moreno Valley 2025 Annual Financial Report

City of Moreno Valley, California

Notes to Financial Statements
For the Year Ended June 30, 2025

Note 13. Adjustment - Restatement

The Capital Projects Grants Fund was previously reported as a major governmental fund during
the prior fiscal year. Due to decreases in assets and liabilities of the fund during the year, it
did not meet the requirement of being presented as a major fund, in accordance with GASB
Statement No. 34, during the fiscal year ended June 30, 2025. The effects of that change to
or within the financial reporting entity are shown in the table below.

Changes
June 30, 2024 to or within
As Previously Reporting June 30, 2024
Reported Entity As Restated
Governmental funds
Major funds
Capital Projects Grants $ (994,866) $ 994,866 $ -
Nonmajor funds 88,688,210 (994,866) 87,693,344
Total governmental funds $ 87,693,344 $ - $ 87,693,344

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