Page 7 - 2022 Popular Annual Financial Report

general fund

GENERAL FUND
reserves

& unassigned

FUND BALANCE

Moreno Valley has been previously ranked as one of
the most fiscally strong cities in the nation. This is due GENERAL FUND RESERVES
in part to the adoption of a comprehensive financial & UNASSIGNED FUND BALANCE
reserve policy. Financial reserves protect against
future economic downturns, which bring unpredictable 52%
shortfalls in tax revenue, and better prepare the City, Unassigned
its residents, and its businesses for a catastrophic
natural disaster.

The General Fund had $51.1 million in unassigned fund
balance, an increase of $12.9 million in comparison
with the prior year. This was primarily due to a delay 17%
in spending related to capital outlay and contractual Other
Categories
services as a result of the pandemic.

14% 17%
Economic Operating
Uncertainty Reserve
Reserve Stabilization

terms FY21/22 FUND BALANCE

Economic Uncertainty Reserve $13,441,456
Economic Uncertainty Reserve - These funds are to be Operating Reserve Stabilization $16,129,747
used during times of severe economic distress such as Unassigned $51,127,685
recessionary periods, State raids on local resources,
or other impactful unforeseen events which greatly Other Categories $16,565,261
diminish the financial ability of the City to deliver core Total Fund Balance $97,264,149
services.

Operating Reserve Stabilization- 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
*Unemployment rate as of 6.30.20. Reflects impacts due to COVID-19.
receipts and to maintain budgeted level of services.

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