Page 51 - Moreno Valley 2025 Annual Financial Report
P. 51
City of Moreno Valley, California
Statement of Revenues, Expenses, and Changes in Fund Net Position
Proprietary Funds
For the Year Ended June 30, 2025
Business-type Governmental
Activities Activities
Enterprise
Funds Internal
Electric Service Funds
Operating revenues
Sales and service charges $ 65,086,891 $ 8,938,601
Miscellaneous 315,249 267,126
Total operating revenues 65,402,140 9,205,727
Operating expenses
Cost of services 3,205,303 11,637,222
Depreciation expense 3,006,896 1,215,509
Amortization ‐ utility distribution system 177,477 -
Electricity purchased 12,565,597 -
Services and supplies 15,947,737 -
Distribution share 10,575,590 -
Self‐insurance claims and charges - 4,370,198
Total operating expenses 45,478,600 17,222,929
Operating income (loss) 19,923,540 (8,017,202)
Nonoperating revenues (expenses)
Interest revenue 5,536,661 -
Interest expense and debt issuance costs (1,526,969) -
Gain (loss) on disposal of capital assets (226,883) 82,756
Total nonoperating revenues (expenses) 3,782,809 82,756
Income (loss) before transfers and contributions 23,706,349 (7,934,446)
Transfers and contributions
Contributed capital 127,524 -
Transfers in (1) - 15,505,892
Transfers out (1) - (3,383,431)
Total transfers and contributions 127,524 12,122,461
Change in net position 23,833,873 4,188,015
Total net position - beginning of year 104,687,761 104,200,514
Total net position - end of year $ 128,521,634 $ 108,388,529
See accompanying Notes to the Basic Financial Statements:
(1) Note 7
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