Page 8 - 2022 Popular Annual Financial Report

general fund

REVENUES

The General Fund is used to account for all financial resources of
the City traditionally associated with government operations that
are not required legally or by sound financial management to be
accounted for in another fund.

The City of Moreno Valley strives to provide our citizens with the
very best value for their dollars while offering the level of services
our Citizens deserve. The Financial and Management Services
department is committed to exceeding these expectations while
ensuring the long-term financial stability and sustainability of the
City government. The City’s fiscal year is July 1 through June 30.

fy 2021/2022 revenues: $138,064,549

The three largest and most important revenue sources
for the City are Property, Sales, and Other Taxes. 31%
These vital taxes represent a relatively stable source Property 29%
of revenue for the City, which enables it to effectively Tax Sales
manage and provide for critical public services. The Tax
largest revenue source for the City was property taxes
at $43.1 million, which is a 4.6% increase over FY20/21.
Sales taxes provided $40.6 million in revenue, which is 14%
a 57.7% increase from the prior year; and Other Taxes Other
generated $19.8 million, a 28.3% increase from the Taxes
prior year.

The rest of the City’s general fund revenues came
from a mixture of Utility Tax, Charges for Services,
and Other Revenues (including transfers in from other
funds and proceeds from leases). Utility User Tax 1% 12% 13%
was at $17.7 million, which is an 8.2% increase over Other Charges for Utility
FY20/21. Charges for services are charges and fees Revenues Services User
Tax
collected by the City for services such as developer
services, inspections, animal services, etc. Charges
for services generated $15.8 million, a 24.6% increase FY 21/22 FUND REVENUES
over FY 20/21. The last piece of general fund revenues
includes monies collected from licenses, permits, fines, Property Tax $43,126,471
forfeitures, transfer in, etc. These revenues were at $1.1 Sales Tax $40,570,137
million, which was a 90.1% decrease from last year,
primarily driven by a decrease in use of money and Utility User Tax $17,708,256
property, mainly resulting from the GASB 31 fair value Other Taxes $19,818,127
adjustment of investments to recognize unrealized
loss of securities. Charges for Services $15,788,929
Other Revenues* $1,052,629
Overall, total general fund revenues reported an
increase of 13% as compared to the prior year, Total General Fund Revenues $138,064,549
primarily due to increases in sales tax, indicating * Includes Transfers In & Proceeds from Leases
business growth within the City.

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