Page 26 - Moreno Valley 2025 Annual Financial Report

Analysis of the Changes in Net Position

Total government-wide revenues increased by $7.7 million, a 2.3% increase from the prior year, while total
expenses increased by $51.2 million, a 19.3% increase from the prior year.

The following table represents a summary of the changes in net position of the City’s governmental and
business-type activities, as of June 30, 2025. Comparative data from the fiscal year ended June 30, 2024
is also presented.

Changes in Net Position
For the Year Ended June 30, 2025
($000’s)

Governmental Activities Business-type Activities Totals
2024 2025 2024 2025 2024 2025
Revenues
Program revenues
Charges for services $ 53,434 $ 56,759 $ 52,621 $ 65,087 $ 106,055 $ 121,846
Operating contributions and grants 32,918 35,490 - - 32,918 35,490
Capital contributions and grants 22,508 5,097 2,777 128 25,285 5,225
General revenues
Property tax 59,982 63,344 - - 59,982 63,344
Transient occupancy tax 4,281 4,075 - - 4,281 4,075
Sales tax 37,811 41,156 - - 37,811 41,156
Franchise taxes 8,061 8,067 - - 8,061 8,067
Business license tax 3,019 2,944 - - 3,019 2,944
Utility users tax 19,496 21,582 - - 19,496 21,582
Franchise in lieu of taxes 958 1,184 - - 958 1,184
Documentary transfer tax 633 644 - - 633 644
Other taxes 11,004 11,150 - - 11,004 11,150
Use of money and property 19,950 23,088 3,182 5,537 23,132 28,625
Miscellaneous 4,060 153 1,294 315 5,354 468
Gain (Loss) on disposal of capital assets - 83 - (227) - (144)
Total Revenues 278,115 274,816 59,874 70,840 337,989 345,656
Expenses
General government 47,613 60,848 - - 47,613 60,848
Public safety 82,646 87,863 - - 82,646 87,863
Community and economic development 19,107 22,007 - - 19,107 22,007
Community and cultural 30,265 32,854 - - 30,265 32,854
Public works 44,605 65,702 - - 44,605 65,702
Interest and fiscal charges 2,750 853 - - 2,750 853
Electric - - 38,918 47,006 38,918 47,006
Total Expenses 226,986 270,127 38,918 47,006 265,904 317,133
Excess before transfers 51,129 4,689 20,956 23,834 72,085 28,523
Transfers - - - - - -
Change in net position 51,129 4,689 20,956 23,834 72,085 28,523
Net position beginning of year 1,163,196 1,214,325 83,732 104,688 1,246,928 1,319,013
Net position end of year $ 1,214,325 $ 1,219,014 $ 104,688 $ 128,522 $ 1,319,013 $ 1,347,536

Governmental Activities

The City’s governmental revenues decreased $3.3 million, a 1.2% decrease from the prior year, and total
expenses increased $43.1 million, a 19% increase. The following discusses the changes in more detail.

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