Page 7 - Moreno Valley 204 PAFR

g E n E r a l F un d r E S E r V E S
gEnEral Fund rESErVES
& UNASSIGNED FUND BALANCE

Moreno Valley is ranked as one of the most fiscally strong
cities in the nation. This is due in part to the adoption of a
comprehensive financial reserve policy. Financial reserves 33%
protect against future economic downturns, which bring 23% Other categories
Unassigned
unpredictable shortfalls in tax revenue, and better prepare
the City, its residents, and its businesses for a catastrophic
natural disaster.

The General Fund had $23.5 million in unassigned fund
balance, a decrease of $0.2 million in comparison with the prior 22%
year. The fund balances for Operating Reserve (Emergency Economic 22%
Fund) and Economic Uncertainty Reserve (Rainy Day Fund) uncertainty Operating reserve
meet adequate reserve levels in compliance with City Council reserve
adopted policy.
Fy 23/24 Fund BalanCE

Operating reserve $ 22,876,351
tErMS Economic uncertainty reserve $ 22,876,351
Unassigned $ 23,454,864
ECONOMIC UNCERTAINTY RESERVE Other categories $ 34,978,390
Established for the purpose of providing funds to be used Total Fund Balance $ 104,185,956
during times of severe economic distress such as recessionary
periods, State raids on local resources, or other impactful
unforeseen events which greatly diminish the financial ability
of the City to deliver core services.

OPERATING RESERVE
Established for the purpose of providing funds for an urgent
catastrophic event or major disaster that affects the safety of
residents, employees, or property (e.g. earthquake, wildfires,
terrorist attack, etc.)

UNASSIGNED
Established to protect against cash flow shortfalls related
to timing of projected revenue receipts and to maintain
budgeted level of services.

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