ANNUAL AUDIT REPORT - Laserfiche WebLink

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K��M_Tn M.Mirom The focus of the District's governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the District's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. At the close of fiscal year 2019/2020, District governmental funds reported a combined ending fund balance of $43.7 million, an increase of $7.9 million over the prior year. Approximately $35.5 million (81.16%) is in the General Fund. Of this amount, $27.1 million is being held for specific purposes. The following are the District's major funds: General Fund The General Fund is the District's primary operating fund. It showed an increase of $7.2 million in fund balance for the year ended June 30, 2020, which consists of operating revenues exceeding operating expenditures and other financing sources/uses. At June 30, 2020, the unrestricted fund balance (which includes the committed, assigned and unassigned components of fund balance) was $27.1 million that is available for ongoing operations, or 132% of total General Fund expenditures, excluding other financing sources/uses and transfers to trusts. When adjusted for the committed and assigned components of fund balance, the figure available for ongoing operations is reduced to $8.4 million or 41%. $8.27 million is restricted for the District's pension plans. Districtwide Assessment District Special Revenue and The Districtwide Assessment District Fund accounts for a district -wide assessment for park maintenance and capital projects. The fund balance increased $1.017 million, to $3.4 million at June 30, 2020 primarily as a result of the Wildwood Bridge project moving more slowly than expected. Dos Vientos Assessment District Special Revenue Fund The Dos Vientos Assessment District Fund accounts for an assessment for park maintenance and capital projects in the Dos Vientos area of the District. Fund balance decreased by $0.04 million, for a total fund balance of $0.3 million at June 30, 2020. Rancho Conejo Assessment District Special Revenue Fund The Rancho Conejo Assessment District Fund accounts for an assessment for park maintenance and capital projects in the Rancho Conejo area of the District® Fund balance stayed essentially the same, leaving a balance of $0.1 million at June 30, 2020. Capital Projects Fund The Capital Projects Fund provides resources for construction of capital projects. Major projects include design of Conejo Creek Southwest as well as Goebel and Teen Center Expansions. Fund balance decreased $0.2 million, for a total of $4.4 million at June 30, 2020.