Page 78 - Moreno Valley 2025 Annual Financial Report

City of Moreno Valley, California

Notes to Financial Statements
For the Year Ended June 30, 2025

Note 4. Notes, Loans, and Lease Receivables (continued)

c. Lease Receivables

Lease receivables consist of agreements with others for the right–to–use of the underlying
assets for land, building, and infrastructure owned by the City at various locations. The
remaining terms of the agreement range from 1 to 34 years. The incremental borrowing
rate ranges from 0.727% to 2.522%. For the year ended June 30, 2025, the City recognized
$104,549 and $433,839 in lease revenue and $31,008 and $160,908 in interest revenue for
General Fund and CSD Zones, respectively. The outstanding receivables are in the amount
of $10,864,567 as of June 30, 2025.

Governmental Activities
Year Ending June 30, Principal Interest Total
2026 $ 342,716 $ 201,707 $ 544,423
2027 334,373 196,034 530,407
2028 320,333 190,488 510,821
2029 339,960 184,718 524,678
2030 361,650 178,564 540,214
2031 - 2035 2,098,133 787,063 2,885,196
2036 - 2040 2,275,705 579,488 2,855,193
2041 - 2045 2,118,816 365,941 2,484,757
2046 - 2050 1,641,895 148,572 1,790,467
2051 - 2055 530,051 63,111 593,162
2056 - 2060 500,935 20,646 521,581

Totals $ 10,864,567 $ 2,916,332 $ 13,780,899

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