Page 41 - Moreno Valley 2025 Annual Financial Report

City of Moreno Valley, California

Reconciliation of the Balance Sheet
to the Statement of Net Position
June 30, 2025

Fund balances of governmental funds $ 292,710,107
Amounts reported for governmental activities in the statement of net
position are different because:
Capital assets net of depreciation have not been included as financial
resources in governmental fund activity.
Capital Assets (excludes internal service capital assets) 1,626,478,155
Accumulated depreciation (excludes internal service accumulated
depreciation) (717,332,629)
909,145,526
Long-term debt and compensated absences have not been included in the
governmental fund activity
2024 Refunding of 2014 Lease Revenue Bonds (18,079,866)
2020 Refunding Total Road Improvements Certificates of Participation (15,955,000)
Unamortized Premium/Discount (2,057,096)
Compensated Absences (9,892,231)
Lease and SBITA liability (5,373,059)
(51,357,252)

Revenues reported as unavailable revenue in the governmental funds
are recognized in the statement of activities. These are included in the
intergovernmental revenues in the governmental fund activity. 28,291,311
Accrued interest receivable for the current portion of interest due on
leases has not been reported in the governmental funds. 17,015

Accrued interest payable for the current portion of interest due on
long-term debt has not been reported in the governmental funds. (224,818)
Deferred outflows of resources related to deferred loss on refunding
debt are not financial sources and therefore are not reported in the
governmental funds. 1,915,900
Deferred outflows of resources related to pensions and OPEB are not
financial resources and therefore are not reported in the governmental
funds. 9,802,731
Long-term liabilities and assets related to pensions and OPEB are not due
and payable in the current period and therefore are not reported in the
governmental funds:
Net pension liability (77,559,047)
Net OPEB asset 812,256
(76,746,791)
Deferred inflows of resources related to pensions and OPEB are not
current obligation and are not reported in the governmental funds. (2,928,926)
Internal service funds are used by management to charge the costs of
certain activities, such as equipment management and self-insurance, to
individual funds. The assets and liabilities of the internal service funds
must be added to the statement of net position. 108,388,529
Net position of governmental activities $ 1,219,013,332

See accompanying Notes to the Basic Financial Statements

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