Page 83 - Moreno Valley 2025 Annual Financial Report

City of Moreno Valley, California

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

Note 6. Long-term Debt (Continued)

Governmental Activities
Year Ending June 30, Principal Interest Total
2026 $ 280,773 $ 69,026 $ 349,799
2027 187,047 64,687 251,734
2028 168,191 61,190 229,381
2029 135,055 57,666 192,721
2030 61,576 55,167 116,743
2031 - 2035 391,154 237,973 629,127
2036 - 2040 515,572 156,481 672,053
2041 - 2045 469,968 58,807 528,775
2046 - 2050 78,700 20,240 98,940
2051 - 2055 89,403 9,537 98,940
2056 19,291 498 19,789
Totals $ 2,396,730 $ 791,272 $ 3,188,002

SBITA Payables

SBITA payables consist of agreements of payment obligations for the use of software
subscriptions owned by other entities. The remaining terms of the agreement range from 1 to
5 years. The average incremental borrowing rate was 2.71%. For the year ended June 30, 2025,
the City paid $778,681 in SBITA payment for General Fund and $48,070 in interest payment for
General Fund. The outstanding payables are in the amount of $2,976,329 as of June 30, 2025.

Governmental Activities
Year Ending June 30, Principal Interest Total
2026 $ 928,116 $ 81,465 $ 1,009,581
2027 492,347 56,447 548,794
2028 483,593 43,004 526,597
2029 518,024 29,638 547,662
2030 554,249 15,319 569,568
Totals $ 2,976,329 $ 225,873 $ 3,202,202

Compensated Absences

At June 30, 2025, the amount of compensated absences liability was $10,337,302. This
amount consists of $9,892,231 for governmental funds, and $445,071 for internal service
funds.

Balance Balance Due Within
July 1, 2024 Net Change June 30, 2025 One Year
Compensated Absences:
Governmental Funds $ 9,321,340 $ 570,891 $ 9,892,231 $ 5,935,339
Internal Service Funds 349,675 95,396 445,071 267,042
Totals $ 9,671,015 $ 666,287 $ 10,337,302 $ 6,202,381

Pension and OPEB Liability

Pension and OPEB obligations will be met from unrestricted revenues of the General Fund.

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