Page 8 - 2023 Moreno Valley Popular Annual Financial Report

GENERAL FUND

R E V E N U E S

FY 22/23 FUND REVENUES

Property Tax $47,207,562
The General Fund is used to account for all financial resources Sales Tax $36,161,809
of the City traditionally associated with government Utility User Tax $19,501,114
operations that are not required legally or by sound financial
Other Taxes $20,930,742
management to be accounted for in another fund.
Charges for Services $15,931,642
Other Revenues* $23,368,571
The City of Moreno Valley strives to provide our citizens with
the very best value for their dollars while offering the level of Total General Fund Revenues $163,101,440
*Includes Transfers In & Proceeds from Subscription Based Information
services our Citizens deserve. The Financial and Management Technology Agreements (SBITA)
Services department is committed to exceeding these The three largest and most important revenue sources for the
expectations while ensuring the long-term financial stability City are Property, Sales, and Utility User Tax. These vital taxes
and sustainability of the City government. The City’s fiscal represent a relatively stable source of revenue for the City, which
enables it to effectively manage and provide for critical public
year is July 1st through June 30th.
services. The largest revenue source for the City was property
taxes at $47.2 million, which is a 9.5% increase over FY21/22.
FY 2022/2023 REVENUES: Sales taxes provided $36.2 million in revenue, which is a 10.9%
decrease from the prior year; and Utility User Tax was at $19.5
$163,101,440 million, which is an 10.1% increase over FY21/22.

22% The rest of the City’s general fund revenues came from a mixture
Sales of Other Taxes, Charges for Services, and Other Revenues
29% Tax (including transfers in from other funds and proceeds from
Property SBITA’s). Other Taxes generated $20.9 million, a 5.6% increase
Tax from the prior year. Charges for services are charges and fees
14% collected by the City for services such as developer services,
Other inspections, animal services, etc. Charges for services generated
Revenues
$15.9 million, a 0.9% increase over FY 21/22. The last piece of
general fund revenues includes monies collected from licenses,
permits, fines, forfeitures, transfer in, etc. These revenues were
at $23.4 million, which was a significant increase from last year,
13% primarily driven by a community benefit contribution from the City’s
Other contracted waste hauler and one time benefit from a land sale.
Taxes
10% 12% Overall, total general fund revenues reported an increase of
Charges for Utility Users 18.1% as compared to the prior year, primarily due to increases
Services Tax in other revenues, indicating business growth within the City.
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