Page 191 - Moreno Valley 2025 Annual Financial Report
P. 191
City of Moreno Valley, California
INTERNAL SERVICE FUNDS
General Liability Insurance Fund
This fund is used to account for the costs of maintaining the City’s general liability insurance program, on
a reimbursement basis through charges to benefiting funds; and maintaining responsible reserves based
on current actuarial assumptions.
Workers’ Compensation Insurance Fund
This fund is used to account for the costs of maintaining the City worker’s compensation insurance
program, on a reimbursement basis through charges to benefiting funds; and maintaining responsible
reserves based on current actuarial assumptions.
Technology Services Fund
This fund is used to account for the costs of maintaining and replacing the City’s information systems
including major software, hardware, radios, telephones, and the City’s backbone telecommunications
infrastructure. The fund recovers costs through charges to benefiting funds.
Facilities Maintenance Fund
This fund is used to account for the costs of maintaining all City-owned and leased buildings. Its user
charges include the recovery of depreciation on the City Hall building.
Fleet Operations Fund
This fund is used to account for the maintenance and replacement costs of the City’s inventory of vehicles
and equipment. This fund recovers costs through annual lease fees to benefiting departments.
Equipment Replacement Reserve Fund
This fund is used to account for the accumulation of cash reserves to replace capital equipment based
on replacement cost and useful life. The reserve recovers costs through user charges for each fund’s
share of annual depreciation; and provides a funding source to participating funds for capital replacement.
Unfunded Liabilities Fund
This fund is used to account for the accumulation of cash reserves to provide for payment of future
unfunded liabilities, such as those associated with employee benefits like pension, OPEB, and compensated
absences, attributable to services already rendered.
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