Page 25 - Moreno Valley 2025 Annual Financial Report
P. 25
Business-type Activities
Total assets increased by $26.2 million. Current and other assets of business-type activities increased by
$24.1 million over last year. This was primarily due to the increase in pooled cash and investments of $26.4
million, which was the result of the accumulation of net operating income for future infrastructure needs.
Capital assets had a net increase of $2.1 million during the fiscal year. Capital asset additions included
investment in additional electric utility infrastructure. Additional capital asset information is located in
Note 5 in the financial statements.
Total liabilities increased by $1.9 million primarily due to an increase in purchases of service and supplies.
Net investment in capital assets increased $1.4 million due to the addition of capital assets during the
fiscal year as a direct result of the City’s continued investment in infrastructure.
Unrestricted net position increased by $20.1 million during the year primarily due to the funding of reserves
in keeping with established electric utility industry best practices.
8
