Date: 5-21-24
Item No.: 10
1 RiversideCA.gov
1 RiversideCA.gov
Proposed FY 2024-2026
Biennial Budget
City Council
May 21, 2024
Finance Department
RiversideCA.gov
2 BUDGET PROCESS – THE JOURNEY SO FAR
Executive
Review
Baseline Budget
The Starting Point
Community Engagement
Ward Meetings
Department
Budget Proposals
What’s
Next
Budget
adoption
on June 25
Engagement and
feedback through
public meeting
bodies
Proposed
budget to
Council on
May 21
REVISED
See last page
5/17/2024
2 RiversideCA.gov3
YOUR MONEY. YOUR VOICE.
RiversideCA.gov4
CITY MANAGER’S BUDGET PRIORITIES
City InfrastructureHousing & HomelessnessFinancial Stability Growing the City’s Economy
Public Safety
5/17/2024
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BUDGET STRATEGYWhat do we need just to maintain?What can we afford?Where do we want to get? RiversideCA.gov6
Citywide Operating Budget
5/17/2024
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General City ServicesElectric Housing & HomelessnessPolice & FireWaterSenior ServicesCode EnforcementRefuseEconomic DevelopmentStreets & Public WorksParkingLibrary & MuseumsParks & RecreationSewerCommunicationsVoting & Civic Engagement & 311AirportCommunity CentersPlanning/PermittingGeneral Fund servicesCity ServicesEnterprise Funds RiversideCA.gov8
Citywide Operating BudgetFY 2025/26$1.34 BillionFY 2024/25$1.32 Billion Electric Fund$444.0M33.6%General Fund$360.7M27.3%Measure Z Fund$104.7M7.9%Other Funds$193.3M14.7%Public Parking Fund$9.4M0.7%Refuse Fund$38.2M2.9%Sewer Fund$73.2M5.6%Water Fund$95.9M7.3% Electric Fund$456.6M34.2%General Fund$371.4M27.7%Measure Z Fund$102.2M7.6%Other Funds$192.7M14.4%Public Parking Fund$9.7M0.7%Refuse Fund$37.3M2.8%Sewer Fund$75.1M5.6%Water Fund$93.7M7.0% 5/17/2024
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Citywide PersonnelChangeProposedFY 2025/26ChangeProposedFY 2024/25*ChangeAdoptedFY 2023/24Fund2.001,587.9945.091,585.9911.00 1,529.90101 - General Fund - 173.25 1.25 173.25 - 172.00110 - Measure Z Fund-3.00-3.00-3.00170 - Development - 6.00 4.00 6.00 - 2.00215 - Grants and Restricted Programs-4.00-4.00-4.00220 - CDBG-Community Development - 2.00 - 2.00 - 2.00260 - NPDES Storm Drain-7.001.007.00 -6.00280 - Housing Authority - 473.00 - 473.00 - 473.00510 - Electric-165.00-165.00-165.00520 - Water - 8.00 - 8.00 1.00 7.00530 - Airport-67.00-67.005.00 62.00540 - Refuse - 121.00 3.00 121.00 - 118.00550 - Sewer-36.00(12.25) 36.00-48.25560 - Special Transit - 23.00 4.00 23.00 - 19.00570 - Public Parking-5.00-5.00-5.00610 - Workers' Compensation Trust - 10.00 - 10.00 5.00 5.00630 - Liability Insurance Trust-9.00-9.00-9.00640 - Central Stores - 38.00 - 38.00 - 38.00650 - Central Garage 2.00 2,738.24 46.09 2,736.24 22.00 2,668.15Grand Total* Proposed FY 2024/25 total includes 22.0 FTE approved by City Council during FY 2023/24 following the June 2023 adoption of the FY 2023/24 budget. A total of 48.09 FTE are recommended to be added in the FY 2024-2026 proposed biennial budget.
RiversideCA.gov10
General FundandMeasure Z
5/17/2024
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Major Revenue AssumptionsWater GFT Escrow Property taxes 5% annual growth$8.5M to $9.2Mrevenue loss
Cannabis Tax $500K to $1MSales Tax HdL projections, 2.1%-2.9% growth March JPA Revenues
Fees & ChargesAdjust per studyHelicopter Sale $2M
•$2.7M ongoing: Property Tax, Sales Tax, Transient Occupancy Tax, Franchise Fees•$4.78M Land Sales revenueMarch JPA Revenues3%FY 24/25growth4%FY 25/26growthCouncil Action Needed•Cannabis Tax•Fees & Charges RiversideCA.gov12
General Fund Five-Year PlanProjectedFY 2028/29ProjectedFY 2027/28ProjectedFY 2026/27ProjectedFY 2025/26ProjectedFY 2024/25(in millions)Revenue / Transfers In$ 112.54 $ 107.18 $ 102.08 $ 97.21 $ 92.59 Property Taxes 106.04102.899.6796.5893.84Sales Tax1.00 1.00 1.00 1.00 0.50 Cannabis Tax51.4449.9348.2646.1343.65 Other Taxes14.92 14.43 13.95 13.00 11.96 Licenses & Non-Developer Permits22.0521.6621.2620.9020.50Fees & Charges for Services1.651.651.651.655.13Other Financing Sources (Asset Sales)17.0816.5516.0516.3216.25Other Revenue52.3352.9250.5547.0244.88 General Fund Transfer - Electric11.2610.539.839.188.52 General Fund Transfer - Water2.582.252.674.354.76Use of Section 115 Trust Set-Aside18.2718.2718.2718.2718.27Measure Z Transfer In $ 411.16$ 399.17$ 385.24$ 371.61$ 360.85Total Revenues/Transfers In 5/17/2024
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General Fund Five-Year PlanProjectedFY 2028/29ProjectedFY 2027/28ProjectedFY 2026/27ProjectedFY 2025/26ProjectedFY 2024/25(in millions)Expenditures / Transfers Out$ 301.80 $ 292.40 $ 281.79 $ 270.42 $ 256.93 Personnel(16.50)(16.35)(16.11)(15.89)(15.54)Vacancy Factor28.1822.3719.4616.5711.38CalPERS UAL-6.008.009.0012.00Section 115 Trust Contribution92.2889.8487.4389.7192.95Departmental Budgets2.502.502.50--Capital Maintenance30.0829.3728.8128.2029.26Debt Service (47.17)(46.01)(44.82)(43.67)(42.46)Charges to Others8.738.528.358.107.81Transfers to Other Funds11.26 10.53 9.83 9.18 8.52 Water GFT Escrow$ 411.16$ 399.17$ 385.24$ 371.62$ 360.85Total Expenditures/Transfers Out$ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 Five-Year Financial Plan Surplus/(Deficit) RiversideCA.gov14
Section 115 TrustSmoothing Strategy•Limited time to plan/contribute•$21M contributions in preliminary budget, $35M through FY 27/28•Smooths annual payments to $36.17M•Offsets annual fiscal impact >$11.7M $- $10 $20 $30 $40 $50 $602024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044MillionsTotal Required Payments vs. Smoothing ResultTotal Required PaymentsNet General Fund Impact (Smoothing Result) 5/17/2024
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General Fund ReservesProjected Ending BalanceProposed Adds/UsesBeginning Balance (FY 23/24 Q2)General Fund$ 49.06 $ -$ 49.06 Emergency Reserve (15%)16.36-16.36Contingency Reserve (5%)6.80(11.49)18.29Infrastructure Reserve (Projected)5.00-5.00Technology Reserve-(2.00)2.00Insurance Reserve25.89(9.11)35.00Section 115 Trust Set-Aside (Projected)$ 103.11$ (22.60)$ 125.71Total General FundOther General Funds$ 73.98 $ 41.26 $ 32.72 Section 115 Trust Fund5.00-5.00Measure Z Policy Reserve$ 182.09$ 18.66$ 163.43Total Reserves – All General Funds RiversideCA.gov16
Measure Z Spending PlanThe Measure Z Policy Reserve of $5M is maintained outside of the Spending Plan. ProjectedFY 2028/29ProjectedFY 2027/28ProjectedFY 2026/27ProjectedFY 2025/26ProjectedFY 2024/25ProjectedFY 2023/24 (in millions)95.59 92.65 89.80 87.00 84.52 80.53 Revenue (94.83) (97.32) (99.99) (101.79) (104.47) (87.59)ExpendituresEncumbrances & Carryovers 0.76 (4.67) (10.19) (14.79) (19.95) (7.06)Net Change in Fund Balance2.32 6.99 17.18 31.97 51.92 58.98 Beginning Available Balance 0.76 (4.67) (10.19) (14.79) (19.95) (7.06)Net Change in Fund BalancePolicy Reserve 3.08 2.32 6.99 17.18 31.97 51.92Ending Available Balance 5/17/2024
9 RiversideCA.gov17
Measure Z provides 20% of combined projected revenues.Measure Z Fiscal ImpactThe Measure Z transfer to the General Fund ($18.3M) accounts for more than 5% of General Fund revenue and helps to sustain General Fund operations. FY 2024/25 Proposed Budget General Fund, $338M, 80%Measure Z, $85M, 20%
RiversideCA.gov18
Expenditures Overview
5/17/2024
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Combined General Fund Budget – FY 2024/25Measure Z is tracked separately but is a part of the General Fund.TOTAL$447MGeneral Fund$361MMeasure Z$86MCombinedGeneral Fund Budget by Department TypeNon Departmental$10 M2%Section 115 Trust$12 M3%Capital Projects$18 M4%Internal Service$18 M4%Debt Service$28 M6%Community Service$122 M27%Police$157 M35%Fire$83 M19%Public Safety$240 M54% RiversideCA.gov20
Combined General Fund Budget – FY 2025/26Measure Z is tracked separately but is a part of the General Fund.TOTAL$448MGeneral Fund$364MMeasure Z$84MCombinedGeneral Fund Budget by Department TypeNon Departmental$10 M2%Section 115 Trust$9 M2%Capital Projects$17 M4%Internal Service$17 M4%Debt Service$27 M6%Community Service$122 M27%Police$159 M36%Fire$86 M19%Public Safety$245 M55% 5/17/2024
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$0 M$20 M$40 M$60 M$80 M$100 M$120 M$140 M$160 MPublic Safety($239.8M)Community Service($123.2M)Internal Service($67.6M)36.4%($156.7M)19.3%($83.0M)8.8%($37.8M)7.8%($33.5M)5.2%($22.6M)3.5%($14.9M)2.2%($9.4M)1.2%($5.1M)4.2%($18.0M)2.6%($11.1M)2.1%($8.9M)1.8%($7.7M)1.8%($7.6M)1.2%($5.2M)0.8%($3.5M)0.5%($2.3M)0.5%($2.2M)0.3%($1.2M)General Fund FY 2024/25 Departmental Budgets*$431 MillionWhere does the $ go?*Excludes the allocation of Administration, Internal Support, and allocable Non-Departmental costs to receiving departments.
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$0 M$20 M$40 M$60 M$80 M$100 M$120 M$140 M$160 MPublic Safety($244.9M)Community Service($123.4M)Internal Service($68.1M)36.4%($156.7M)19.3%($83.0M)8.8%($37.8M)7.8%($33.5M)5.2%($22.6M)3.5%($14.9M)2.2%($9.4M)1.2%($5.1M)4.2%($18.0M)2.6%($11.1M)2.1%($8.9M)1.8%($7.7M)1.8%($7.6M)1.2%($5.2M)0.8%($3.5M)0.5%($2.3M)0.5%($2.2M)0.3%($1.2M)General Fund FY 2025/26 Departmental Budgets*$436 MillionWhere does the $ go?*Excludes the allocation of Administration, Internal Support, and allocable Non-Departmental costs to receiving departments. 5/17/2024
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Who provides the services?Positions by Department – FY 2024/25Total 1,759.24 Budgeted Positions 0100200300400500600700Public Safety886.2550.4%($190.9M)Community Service558.1931.7%($61.6M)Internal Service314.8017.9%($43.6M)628.2535.7%($126.6M)258.0014.7%($64.4M)177.4410.1%($14.8M)143.258.1%($18.9M)109.506.2%($15.0M)74.504.2%($6.7M)40.002.3%($4.5M)13.500.8%($1.7M)65.503.7%($7.0M)63.003.6%($9.8M)39.002.2%($5.2M)37.502.1%($7.0M)36.002.0%($4.9M)19.551.1%($2.3M)17.501.0%($1.6M)16.000.9%($3.4M)13.000.7%($1.5M)7.750.4%($0.9M) RiversideCA.gov24
Who provides the services?Positions by Department – FY 2025/26Total 1,761.24 Budgeted Positions 0100200300400500600700Public Safety886.2550.3%($202.6M)Community Service559.1931.7%($66.4M)Internal Service315.8017.9%($47.2M)628.2535.7%($133.5M)258.0014.6%($69.0M)177.4410.1%($15.8M)143.258.1%($20.4M)109.506.2%($16.3M)74.504.2%($7.2M)40.002.3%($4.8M)14.500.8%($1.9M)65.503.7%($7.7M)63.003.6%($10.6M)39.002.2%($5.6M)37.502.1%($7.5M)36.002.0%($5.1M)19.551.1%($2.5M)17.501.0%($1.7M)17.001.0%($3.8M)13.000.7%($1.7M)7.750.4%($0.9M) 5/17/2024
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Departmental BudgetsGeneral Fund(Combined Presentation) RiversideCA.gov26
PoliceMajor Changes to Budget•New Police Radios $5.3M partially offset by projected $2M sale of helicopters•Range & Firearms Training –0.25 FTE increase•Emergency Response – 1.0 FTE Programmer Analyst$0M$10M$20M$30M$40M$50M$60M$70M$80MProposed Biennial BudgetFY 24/25 - General FundFY 24/25 - Measure ZFY 25/26 - General FundFY 25/26 - Measure Z 5/17/2024
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FireMajor Changes to Budget•Administration & Operations Personnel – 10.0 FTE increase•First Watch Implementation –Capturing Realtime Data & Motorola Upgrade•Westnet First-In Altering System Upgrade•Computer Replacement Plan$0M$10M$20M$30M$40M$50M$60M$70M$80MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z RiversideCA.gov28
Community & Economic DevelopmentMajor Changes to Budget•Move Arts & Cultural Affairs to Parks, Recreation & Community Services•One-Stop Shop Software Refresh•Ohmio Inc Autonomous All-Electric Shuttles Impact Studies & Strategic Plans •2.0 FTEs – Real Property Agent & 2nd Deputy Director$0M$2M$4M$6M$8M$10M$12M$14M$16M$18MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z 5/17/2024
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Parks, Recreation & Community ServicesMajor Changes to Budget•Welcoming Arts & Cultural Affairs to PRCSD•13.34 FTE Additions•Senior & Disabled Programming•Arts Grants Funding•Community Events$0M$2M$4M$6M$8M$10M$12M$14M$16M$18MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z RiversideCA.gov30
LibraryMajor Changes to Budget•$500,000 Increase to Library Materials–Per capita amount increases from $1.23 to $2.80 per resident–State average $5.31 per capita•6.5 FTE Additional Staffing –Expand Library programs–Technology Support$0M$1M$2M$3M$4M$5M$6M$7M$8M$9M$10MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z 5/17/2024
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Museum of RiversideMajor Changes to Budget•100th Anniversary Gala–Sponsorship and ticket sales anticipated•Overtime funding to support after-hours and weekend events and programs•Web developer in Marketing – 50%•1.0 FTE in FY 2025/26 -Marketing & Outreach Coordinator$0M$.5M$1.0M$1.5M$2.0M$2.5M$3.0M$3.5MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z RiversideCA.gov32
Public WorksMajor Changes to Budget•Landscape Maintenance–Medians and general•Removeable Bollards –community safety enhancement•Traffic Signal Cabinet Art Project•4.25 FTE increase – landscape, storm drain, transportation planning, signal maintenance, traffic$0M$2M$4M$6M$8M$10M$12M$14MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z 5/17/2024
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City CouncilBudget Highlights•Personnel: 17.50 FTE–1.50 FTE Council Assistants per Council member•Ward-specific Non-Personnel Budgets:City Council$0M$0.5M$1.0M$1.5M$2.0M$2.5MProposed Biennial BudgetFY 25 - General FundFY 26 - General FundFY 2025/26FY 2024/25Item$ 2,092$ 2,031Periodicals & Dues6,0006,000Office Expense5,1505,000Travel/Meeting$ 13,422$ 13,031Total RiversideCA.gov34
MayorBudget Highlights•Advocacy–$300M+ State/Federal support–400+ letters of support•Public Policy–Reformed mental healthcare laws, first in 50+ years•Community Relations:–1300+ certificates–200+ Proclamations–11,000+ Calls for services–500+ Public events/outreach–25+ Delegation visits$0M$0.1M$0.2M$0.3M$0.4M$0.5M$0.6M$0.7M$0.8M$0.9MProposed Biennial BudgetFY 25 - General FundFY 26 - General Fund 5/17/2024
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City AttorneyMajor Changes to Budget•Added 1.0 FTE Legal Secretary; offset with elimination of 0.5 FTE Law Clerk. •Software investment to increase efficiency and enhance customer service levels to client departments. $0M$1M$2M$3M$4M$5M$6M$7M$8MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z RiversideCA.gov36
City ClerkMajor Changes to Budget•Recodification of the Riverside Municipal Code•1.0 FTE - Records Manager•Election - November 5, 2024, for Inspector General Ballot Measure•Election – June 2, 2026, for Wards 2, 4, and 6 City Council Seats$0M$0.2M$0.4M$0.6M$0.8M$1.0M$1.2M$1.4M$1.6M$1.8MProposed Biennial BudgetFY 25 - General FundFY 26 - General Fund 5/17/2024
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City ManagerMajor Changes to Budget•Extract Marketing & Communications Division New Department (17.55 FTE)•1.0 FYE Administrative Analyst – grant support•1.0 FTE Senior Internal Auditor – FY 2025/26$0M$.5M$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z RiversideCA.gov38
FinanceMajor Changes to Budget•Budget Office – 2.0 FTE Principal Management Analysts – new revenue generation, cost savings opportunities•Purchasing – 4.0 FTE–Local Vendor Preference Policy–Disadvantaged Business Enterprises–Vendor Management–Contract Lifecycle Management•Treasury – 0.50 FTE, workload balancing$0M$5M$10M$15M$20M$25MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z 5/17/2024
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General ServicesMajor Changes to Budget•1.0 FTE General Service Worker dedicated to Fire Department support•Measure Z Increase from $1.5M to $4M:–$500,000 Deferred Maintenance –$800,000 Repairs & Maintenance–$1,200,000 Facilities Capital Maintenance$0M$.5M$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z RiversideCA.gov40
Housing & Human ServicesMajor Changes to Budget•Homeless Services – new ADA van•Access Center Security –cover extended weekend hours•PSET lease – Centralize staff and accommodate new partners•Special Program budget refinement$0M$1M$2M$3M$4M$5M$6M$7M$8M$9MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z 5/17/2024
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Human ResourcesMajor Changes to Budget•Talent Management / Learning Management System•Employee Experience–Succession Planning–Career Development–Employee Engagement–Employee Training•Essential Job Functions Analysis•Pre-employment Physicals and Drug Screening$0M$1M$2M$3M$4M$5M$6M$7M$8M$9MPreliminary Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure ZAdministration RiversideCA.gov42
Innovation & TechnologyMajor Changes to Budget•10-15% increases to software subscriptions (vs. 5% in the past)•Technology Upgrade/ Replacement - $800,000 for hardware and software nearing end-of-life. $0M$1M$2M$3M$4M$5M$6MProposed Biennial BudgetFY 25 - General FundFY 25 - Measure ZFY 26 - General FundFY 26 - Measure Z 5/17/2024
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NEW - Marketing & CommunicationsMajor Changes to Budget•NEW - Department of Marketing and Communications •Visit Riverside - A Destination Marketing Campaign•Economic Development Brand Audit and Strategic Marketing Efforts•RiversideTV Content Curation•1.0 FTE Deputy Director$0M$0.2M$0.4M$0.6M$0.8M$1.0M$1.2M$1.4MProposed Biennial BudgetFY 25 - General FundFY 26 - General Fund RiversideCA.gov44
BACKGROUND202015 FTE / 2.55 PT
20159 FTE
The Marketing and Communications function separated from Economic Development and became housed in the Office of the City Manager.COVID-19 dramatically increases online broadcast of all City meetings, public communications, and increased demand for Marketing & Communications.Mission expansion of Marketing & Communications to include a greater role in Economic Development, RiversideTV, crisis communications, branding, social media, City events, tourism, and the external promotion of Riverside. 202315 FTE / 2.55 PTCreation of standalone Department of Marketing & Communications (MarComm), providing greater transparency of activities and budget allocations/expenditures, and focused leadership on branding the City, Economic Development, and connecting with community members. 202417 FTE / 2.55 PT
5/17/2024
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AREAS OF EXPERTISEGraphicDesignSocialMediaRiversideTVCommunity CalendarPhotographyElectronic SignsWebsiteEmailMarketingRPU ProjectCommunication LocalOutreachMedia Relations
AREAS OF EXPERTISE
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COMMUNICATIONS~1,060Graphics Projects
365,000Subscribers7M+577Total Video Productions350MeetingsBroadcasted35Football Games 152Other Videos75Live Feeds WebpageViews
Social Media ReachAcross All Social Media Accounts20,004,083 42%Email Engagement Rate
5/17/2024
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MARCOMM STRATEGIC GOALSBrand Development and Enhancement Economic Development Promotion
Human Capital Expansion for External Collaboration
Digital Presence andSocial Media Management
Media Innovation and Expansion
Data Analytics and Performance Metrics
Tourism Promotion and Destination Branding
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Major Enterprise Funds
5/17/2024
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Proposed Operating BudgetsMAJOR ENTERPRISE FUNDS – OPERATING Surplus / (Deficit)Outgoing ResourcesIncoming Resources (in millions)FY 2024/25$ 9,605,214 $ 444,014,486 $ 453,619,700 Electric2,942,016 95,912,284 98,854,300 Water(3,311,375)38,212,068 34,900,693 Refuse9,409,246 73,227,471 82,636,717 Sewer991,504 9,436,845 10,428,349 Public Parking$ 19,806,616$ 660,633,143$ 680,439,759TotalFY 2025/26$ 28,952,885 $ 456,572,915 $ 485,525,800 Electric12,818,004 93,718,471 106,536,475 Water(221,909) 37,267,501 37,045,592 Refuse3,278,085 75,055,389 78,333,474 Sewer1,467,928 9,713,870 11,181,798 Public Parking$ 46,519,581 $ 672,103,558 $ 718,623,139 Total RiversideCA.gov50
Electric FundBudget Highlights•Operating Gain–FY 24/25: $9.6M–FY 25/26: $29.0M•Use of Bond Proceeds–FY 24/25: $47.1M–FY 25/26: $49.0M•Reserves–Will fall below minimum levels, recover FY 26/27 – consistent with approved rate plan–Designated Dark Fiber$453.6M$485.5M$444.0M$456.6M$61.3M$68.7M$0.0M$100.0M$200.0M$300.0M$400.0M$500.0M$600.0MFY 25 FY 25 FY 26 FY 26Proposed Biennial BudgetOperating RevenueOperating ExpenseCapital Projects 5/17/2024
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Water FundBudget Highlights•Operating Gain–FY 24/25: $2.9M–FY 25/26: $12.8M•Use of Bond Proceeds–FY 24/25: $21.0M–FY 25/26: $30.1M•Reserves–Will remain within policy levels$98.9M$106.5M$95.9M$93.7M$29.6M$34.6M$0.0M$20.0M$40.0M$60.0M$80.0M$100.0M$120.0M$140.0MFY 25 FY 25 FY 26 FY 26Proposed Biennial BudgetOperating RevenueOperating ExpenseCapital Projects RiversideCA.gov52
Refuse FundBudget Highlights•Operating Projection–FY 24/25: $3.3M deficit–FY 25/26: $210,000 deficit•RubiconSmartCity Solid Waste Technology•Tequesquite Landfill - $1.5M •Reserves–Drawdown in both budget years–Breakeven projected in FY 26/27 (three years)$34.9M$37.0M$38.2M$37.3M$0.0M$5.0M$10.0M$15.0M$20.0M$25.0M$30.0M$35.0M$40.0M$45.0MFY 25 FY 25 FY 26 FY 26Proposed Biennial BudgetOperating RevenueOperating Expense 5/17/2024
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Sewer FundBudget Highlights•Operating Gain–FY 24/25: $9.4M–FY 25/26: $3.3M•Rising Costs–Chemical supplies–Biosolids removal and transport•Reserves–Will remain with policy levels –FY 24/25: $462,000 drawdown–FY 25/26: $467,000 drawdown$82.6M$78.3M$73.2M$75.1M$9.9M$3.8M$0.0M$10.0M$20.0M$30.0M$40.0M$50.0M$60.0M$70.0M$80.0M$90.0MFY 25 FY 25 FY 26 FY 26Proposed Biennial BudgetOperating RevenueOperating ExpenseCapital Projects RiversideCA.gov54
Public Parking FundBudget Highlights•Operating Gain–FY 24/25: $1.0M–FY 25/26: $1.5M•“Parking Your Way” program–Presents both higher revenues and higher costs–Add 4.0 FTE•Reserves–FY 24/25: $544,000 drawdown–FY 25/26: $570,000 increase$10.4M$11.2M$9.4M$9.7M$1.5M$0.9M$0.0M$2.0M$4.0M$6.0M$8.0M$10.0M$12.0MFY 25 FY 25 FY 26 FY 26Proposed Biennial BudgetOperating RevenueOperating ExpenseCapital Projects 5/17/2024
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Capital Budget
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Proposed Biennial Capital BudgetFY 2025/26$140.79 MillionFY 2024/25$137.47 Million General Services$2.0M1.5%Public Works$40.5M29.5%Parks, Recreation & Community Svcs$4.1M3.0%Electric$61.3M44.5%Water$29.6M21.5% General Services$2.0M1.4%Public Works$32.0M22.7%Parks, Recreation & Community Svcs$3.5M2.5%Electric$68.7M48.8%Water$34.6M24.6% 5/17/2024
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Major CIP Projects
86Projects Budgeted:25 Transportation Projects (Street, Sidewalk, Bridge, & Traffic Maintenance & Improvements) FY 2024/25
3 Sewer Projects
9 Public Parking Projects (Maintenance & Improvements) 30 Electric Projects 12 Water Projects
7 Other Projects (Parks, Buildings, Facilities, Storm Drains, & Railroads)FY 2025/2623 Transportation Projects (Street, Sidewalk, Bridge, & Traffic Maintenance & Improvements) 4 Sewer Projects
2 Public Parking Projects (Maintenance & Improvements) 28 Electric Projects 13 Water Projects
5 Other Projects (Parks, Buildings, Facilities, Storm Drains, & Railroads) 75Projects Budgeted:
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That the City Council:1. Receive and provide input on the proposed Fiscal Year2022-2024-2026Biennial Budget; and2. Set a public hearing date for adoption of the proposed Fiscal Year2022-2024-2026Biennial Budget on June 25, 2024.Recommendations