Page 24 - Moreno Valley 2025 Annual Financial Report

City of Moreno Valley’s Net Position

June 30, 2025
(continued)
($000’s)

Governmental Activities Business-type Activities Totals
2024 2025 2024 2025 2024 2025
Current and other assets $ 470,374 $ 482,965 $ 74,663 $ 98,717 $ 545,037 $ 581,682
Capital assets 916,689 919,593 84,175 86,319 1,000,864 1,005,912
Other noncurrent assets 8,971 11,334 - 41 8,971 11,375
Total assets 1,396,034 1,413,892 158,838 185,077 1,554,872 1,598,969
Deferred outflows of resources 25,986 11,719 4,790 4,363 30,776 16,082
Current liabilities 66,170 71,269 7,410 10,914 73,580 82,183
Long-term liabilities 130,025 122,414 51,431 49,856 181,456 172,270
Total liabilities 196,195 193,683 58,841 60,770 255,036 254,453
Deferred inflows of resources 11,500 12,914 99 148 11,599 13,062
Net investment in capital assets 877,152 877,124 36,480 37,896 913,632 915,020
Restricted 188,796 180,184 12,052 14,380 200,848 194,564
Unrestricted 148,377 161,706 56,156 76,246 204,533 237,952
Total net position $ 1,214,325 $ 1,219,014 $ 104,688 $ 128,522 $ 1,319,013 $ 1,347,536

Total net position of the City of Moreno Valley increased $28.5 million to $1.3 billion on June 30, 2025.
The City’s unrestricted net position increased $33.4 million to $238.0 million. Total assets and deferred
outflows of resources increased by $29.4 million and total liabilities and deferred inflows of resources
increased by $0.9 million.

The following analysis of governmental and business-type activities provides more detailed information
for these changes:

Governmental Activities

Total assets increased by $17.9 million primarily due to an increase in restricted assets of $5.7 million
and in pooled cash and investments of $3.1 million in governmental activities due to efforts to increase
the City’s reserves.
The current year capital asset additions of $99.9 million (including intangible assets) were offset by
current year depreciation and amortization expenses of $40.9 million and asset retirements (including
transfers out from Capital Improvement Projects) net of accumulated depreciation and amortization of
$56.1 million for a net increase of $2.9 million.

Total liabilities decreased by $2.5 million. Current liabilities increased by $5.1 million primarily due to an
increase in accrued liabilities and deposits payable. Noncurrent liabilities decreased by $7.6 million due
to the decrease in Net pension liability and OPEB liability. See Note 8 and 9 in the financial statements
for more information.

Net investment in capital assets decreased slightly by $0.03 million, primarily due to capital projects with
retention amounts that had not yet been paid as of year-end.
Restricted net position decreased by $8.6 million due to increased commitments and programming in the
area of public works, primarily due to continued support for several capital projects.

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