Page 2 - Moreno Valley 204 PAFR

FISCAL YEAR ENDED
JUNE 30, 2024

ABOUT THIS REPORT TABLE OF CONTENTS

The City of Moreno Valley is pleased to present the Popular City Organization .................................................3
Annual Financial Report (PAFR) for the fiscal year ended
June 30, 2024. This is a user-friendly annual companion to
the Annual Comprehensive Financial Report (ACFR), making GFOA Award ...........................................................4
the City’s finances increasingly transparent and accessible
to all Moreno Valley Residents. As the second largest city in About Moreno Valley ..........................................5
Riverside County, Moreno Valley remains as one of the most
desirable places to live in the Inland Empire.
General Fund Reserves & Unassigned
The PAFR is a summary of the financial activities of the
popular annual https://www.moval.org/departments/financial-mgmt-svcs/ General Fund Revenues ....................................8
Fund Balance ......................................................... 7
City of Moreno Valley and is drawn from information found
in the 2024 ACFR. Both reports are available online at
department-fin-operations.html. It is important to note
that the financial data in this report is unaudited, includes
Property Tax & Sales Tax .....................................9
information exclusively on primary government funds and is
presented on a non-GAAP (Generally Accepted Accounting
Principles) basis. This means that it excludes discrete
General Fund Expenditures............................. 10
component unit and fiduciary fund information, contains
condensed financial information and does not provide all
of the necessary financial statements and note disclosures
required by GAAP standards which are contained in the Change in Net Position ...................................... 11
ACFR. However, we believe that the information presented Community Services District .......................... 12
in this PAFR is a balanced and fair summary of the audited
ACFR, providing our citizens with a good understanding of
the financial health of our city. Moreno Valley Electric Utility .......................... 13
We thank you for taking the time to learn about your City’s
finances and your shared commitment to the success and Long Term Debt .................................................. 14
vibrancy of our growing community and invite you to access
our audited financial statements and completed ACFR Glossary ................................................................. 15
online for more detailed information on your City’s finances.
We welcome your questions, comments and suggestions
regarding the information of this report. Contact us at the CITY OF MORENO VALLEY
City of Moreno Valley, Financial & Mangement Services FINANCIAL & MANAGEMENT SERVICES
Department, at 14177 Frederick Street, Moreno Valley, CA 14177 Frederick Street. Moreno Valley, CA 92552-0805
92552-0805, Tel. 951.413.3021. 951.413.3021 | www.moval.org
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