ANNUAL AUDIT REPORT - Laserfiche WebLink

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• As shown in the table below, the District's change in net position due to FY 19/20 activity is an increase of $6.5 million. Charges for services includes recreation fees, rent, and accounting services provided to the IVIRCA JPA. These were lower due to the effects of Covid-1 9 restrictions. Operating grants and contributions include the operations share of assessment district revenues. Capital grants and contributions include the capital share of the assessment district revenues, developer fees and grants. Reductions in the capital grants and contributions are a result of fewer grant revenues in FY 19/20, and allocation of assessment revenue between operating and capital. Property tax increases reflect the increasing real estate valuations. Investment income increased slightly. Other revenue includes licenses/permits and miscellaneous. The increase in expenses is due primarily to capital activity, addressed elsewhere in this report. Statement of Activities June 30, As noted earlier, the District uses fund accounting to ensure and demonstrate compliance with finance -related legal requirements. POP 2020 2019 Revenues: Program revenues: Charges for services 416871393 576497938 Operating grants & contributions 1,931,514 1,638,622 Capital grants & contributions 1,052,397 2,240,104 General revenues: Property taxes 1833531054 1775691437 Investment income 845,011 734,650 Other 10,153,218 1,474,329 Total revenues 3770221587 2973071080 Expenses: Parks & recreation 3075573542 2576317756 Total Expenses Change in net position 6,465,045 3,675,324 Net position, beginning of year 152,523,172 148,847,848_ Net position, end of year 15839883217 1527523)172_ As noted earlier, the District uses fund accounting to ensure and demonstrate compliance with finance -related legal requirements. POP