Page 80 - Moreno Valley 2025 Annual Financial Report

City of Moreno Valley, California

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

Note 5. Capital Assets (Continued)

Depreciation and amortization expense was charged to functions/programs of the primary
government as follows:

Governmental Activities:
General Government $ 2,902,938
Public Safety 1,443,558
Community and Economic Development 234,962
Community and Cultural 1,234,227
Public Works 33,819,827
Internal Service Funds 1,215,509
Total $ 40,851,021

The following is a schedule of changes in business-type activities capital assets for the year
ended June 30, 2025:

Balance
Balance June 30,
July 1, 2024 Additions Deletions 2025
Non-depreciable assets:
Land $ 3,195,378 $ - $ - $ 3,195,378
Construction in progress 6,122,040 7,673,815 (5,658,461) 8,137,394
Total non-depreciable assets 9,317,418 7,673,815 (5,658,461) 11,332,772

Depreciable assets:
Buildings and improvements 1,664,106 - - 1,664,106
Furniture and Equipment 1,346,774 - (391,741) 955,033
Infrastructure 96,883,839 3,362,270 - 100,246,109

Total depreciable assets 99,894,719 3,362,270 (391,741) 102,865,248
Less accumulated depreciation:
Furniture and Equipment (829,540) (72,339) 164,857 (737,022)
Infrastructure (24,207,856) (2,934,557) - (27,142,413)
Total accumulated depreciation (25,037,396) (3,006,896) 164,857 (27,879,435)
Total depreciable assets, net 74,857,323 355,374 (226,884) 74,985,813

Total net capital assets $ 84,174,741 $ 8,029,189 $ (5,885,345) $ 86,318,585

Depreciation expense for business-type activities was charged as follows:

Electric Utility $ 3,006,896

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