6/12/2024
1 RiversideCA.gov
1 RiversideCA.gov
Proposed FY 2024-2026
Biennial Budget
City Council
June 25, 2024
Finance Department
RiversideCA.gov
2 Citywide Operating Budget
FY 2025/26
$1.34 Billion
FY 2024/25
$1.32 Billion
Electric Fund
$444.0M
33.6%
General Fund
$360.7M
27.3%
Measure Z
Fund
$104.7M
7.9%
Other Funds
$193.3M
14.7%
Public Parking
Fund
$9.4M
0.7%
Refuse Fund
$38.2M
2.9%
Sewer Fund
$73.2M
5.6%
Water Fund
$95.9M
7.3%
Electric Fund
$456.6M
34.2%
General Fund
$371.4M
27.7%
Measure Z
Fund
$102.2M
7.6%
Other Funds
$192.7M
14.4%
Public Parking
Fund
$9.7M
0.7%
Refuse Fund
$37.3M
2.8%
Sewer Fund
$75.1M
5.6%
Water Fund
$93.7M
7.0%
1 2
6/12/2024
2 RiversideCA.gov
3 Citywide Personnel
Change
Proposed
FY 2025/26Change
Proposed
FY 2024/25*Change
Adopted
FY 2023/24Fund
2.001,587.9945.091,585.9911.00 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. ** Measure Z - Proposed removal of Diversity, Equity and Inclusion Officer, for an adjusted FTE of 172.25 in the Measure Z Fund.
RiversideCA.gov
4 General Fund
and
Measure Z
3 4
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3 RiversideCA.gov
5 General Fund Five-Year Plan
Projected
FY 2028/29
Projected
FY 2027/28
Projected
FY 2026/27
Projected
FY 2025/26
Projected
FY 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 Tax
1.00 1.00 1.00 1.00 0.50 Cannabis Tax
51.4449.9348.2646.1343.65 Other Taxes
14.92 14.43 13.95 13.00 11.96 Licenses & Non-Developer Permits
22.0521.6621.2620.9020.50Fees & Charges for Services
1.651.651.651.655.13Other Financing Sources (Asset Sales)
17.0816.5516.0516.3216.25Other Revenue
52.3352.9250.5547.0244.88 General Fund Transfer - Electric
11.2610.539.839.188.52 General Fund Transfer - Water
2.582.252.674.354.76Use of Section 115 Trust Set-Aside
18.2718.2718.2718.2718.27Measure Z Transfer In
$ 411.16$ 399.17$ 385.24$ 371.61$ 360.85Total Revenues/Transfers In RiversideCA.gov
6 General Fund Five-Year Plan
Projected
FY 2028/29
Projected
FY 2027/28
Projected
FY 2026/27
Projected
FY 2025/26
Projected
FY 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 Factor
28.1822.3719.4616.5711.38CalPERS UAL
-6.008.009.0012.00Section 115 Trust Contribution
92.2889.8487.4389.7192.95Departmental Budgets
2.502.502.50--Capital Maintenance
30.0829.3728.8128.2029.26Debt Service
(47.17)(46.01)(44.82)(43.67)(42.46)Charges to Others
8.738.528.358.107.81Transfers to Other Funds
11.26 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) 5 6
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4 RiversideCA.gov
7 General Fund Reserves
Projected
Ending
Balance
Proposed
Adds/Uses
Beginning
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 Reserve
25.89(9.11)35.00Section 115 Trust Set-Aside (Projected) $ 103.11$ (22.60)$ 125.71Total General Fund
Other General Funds
$ 73.98 $ 41.26 $ 32.72 Section 115 Trust Fund
5.00-5.00Measure Z Policy Reserve
$ 182.09$ 18.66$ 163.43Total Reserves – All General Funds RiversideCA.gov
8 Measure Z Spending Plan
The Measure Z Policy Reserve of $5M is maintained outside of the Spending Plan.
Projected
FY 2028/29
Projected
FY 2027/28
Projected
FY 2026/27
Projected
FY 2025/26
Projected
FY 2024/25
Projected
FY 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)Expenditures Encumbrances & Carryovers
$ 0.76 $ (4.67) $ (10.19) $ (14.79) $ (19.95) $ (7.06)Net Change in Fund Balance $ 2.32 $ 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 Balance Policy Reserve
$ 3.08 $ 2.32 $ 6.99 $ 17.18 $ 31.97 $ 51.92Ending Available Balance 7 8
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5 RiversideCA.gov
9 Combined General Fund Budget – FY 2024/25
Measure Z is tracked
separately but is a part of the
General Fund.
TOTAL
$447M
General Fund
$361M
Measure Z
$86M
Combined
General Fund Budget by Department Type
Non Departmental
$10 M
2%
Section 115 Trust
$12 M
3%
Capital Projects
$18 M
4%
Internal Service
$18 M
4%
Debt Service
$28 M
6%
Community Service
$122 M
27%
Police
$157 M
35%
Fire
$83 M
19%
Public Safety
$240 M
54%
RiversideCA.gov
10 Combined General Fund Budget – FY 2025/26
Measure Z is tracked
separately but is a part of the
General Fund.
TOTAL
$455M
General Fund
$371M
Measure Z
$84M
Combined
General Fund Budget by Department Type
Non Departmental
$10 M
2%
Section 115 Trust
$9 M
2%
Capital Projects
$17 M
4%
Internal Service
$18 M
4%
Debt Service
$27 M
6%
Community Service
$125 M
27%
Police
$162 M
36%
Fire
$87 M
19%
Public Safety
$248 M
55%
9 10
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6 RiversideCA.gov
11 Who provides the services?
Positions by Department – FY 2024/25
Total 1,759.24 Budgeted Positions
0 100
200
300
400
500
600
700
Public Safety
886.25
50.4%
($190.9M)
Community Service
558.19
31.7%
($61.6M)
Internal Service
314.80
17.9%
($43.6M)
628.25
35.7%
($126.6M)
258.00
14.7%
($64.4M)
177.44
10.1%
($14.8M)
143.25
8.1%
($18.9M)
109.50
6.2%
($15.0M)
74.50 4.2%
($6.7M)
40.00 2.3%
($4.5M)
13.50 0.8%
($1.7M)
65.50 3.7%
($7.0M)
63.00 3.6%
($9.8M)
39.00 2.2%
($5.2M)
37.50 2.1%
($7.0M)
36.00 2.0%
($4.9M)
19.55 1.1%
($2.3M)
17.50 1.0%
($1.6M)
16.00 0.9%
($3.4M)
13.00 0.7%
($1.5M)
7.75 0.4%
($0.9M)
Proposed removal of Diversity, Equity and Inclusion Officer, for an adjusted FTE of 15.00 in City Manager Department.
RiversideCA.gov
12 Who provides the services?
Positions by Department – FY 2025/26
Total 1,761.24 Budgeted Positions
0 100
200
300
400
500
600
700
Public Safety
886.25
50.3%
($202.6M)
Community Service
559.19
31.7%
($66.4M)
Internal Service
315.80
17.9%
($47.2M)
628.25
35.7%
($133.5M)
258.00
14.6%
($69.0M)
177.44
10.1%
($15.8M)
143.25
8.1%
($20.4M)
109.50
6.2%
($16.3M)
74.50 4.2%
($7.2M)
40.00 2.3%
($4.8M)
14.50 0.8%
($1.9M)
65.50 3.7%
($7.7M)
63.00 3.6%
($10.6M)
39.00 2.2%
($5.6M)
37.50 2.1%
($7.5M)
36.00 2.0%
($5.1M)
19.55 1.1%
($2.5M)
17.50 1.0%
($1.7M)
17.00 1.0%
($3.8M)
13.00 0.7%
($1.7M)
7.75 0.4%
($0.9M)
Proposed removal of Diversity, Equity and Inclusion Officer, for an adjusted FTE of 16.00 in City Manager Department. 11 12
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7 RiversideCA.gov
13 Major Enterprise Funds
RiversideCA.gov
14 Proposed Operating Budgets
MAJOR ENTERPRISE FUNDS – OPERATING
Surplus /
(Deficit)
Outgoing
Resources
Incoming
Resources (in millions)
FY 2024/25
$ 9,364,747 $ 444,254,953 $ 453,619,700 Electric 3,002,237 95,852,800 98,854,300 Water
(3,311,375)38,212,068 34,900,693 Refuse
9,409,246 73,227,471 82,636,717 Sewer
991,504 9,436,845 10,428,349 Public Parking
$ 19,456,359$ 660,983,400$ 680,439,759Total
FY 2025/26
$ 28,717,077 $ 456,808,723 $ 485,525,800 Electric 12,873,567 93,662,908 106,536,475 Water
(221,909) 37,267,501 37,045,592 Refuse
3,278,085 75,055,389 78,333,474 Sewer
1,467,928 9,713,870 11,181,798 Public Parking
$ 46,114,748 $ 672,508,391 $ 718,623,139 Total 13 14
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8 RiversideCA.gov
15 Capital Budget
RiversideCA.gov
16 Proposed Biennial Capital Budget
FY 2025/26
$140.79 Million
FY 2024/25
$137.47 Million
General
Services
$2.0M
1.5%
Public Works
$40.5M
29.5%
Parks, Recreation &
Community Svcs
$4.1M
3.0%
Electric
$61.3M
44.5%
Water
$29.6M
21.5%
General
Services
$2.0M
1.4%Public Works
$32.0M
22.7%
Parks,
Recreation &
Community Svcs
$3.5M
2.5%
Electric
$68.7M
48.8%
Water
$34.6M
24.6%
15 16
6/12/2024
9 RiversideCA.gov
17 That the City Council:
1. Conduct a public hearing on the proposed Fiscal Year 2024-2026 Biennial Budget and proposed Fiscal Year 2024-2026 Capital Improvement Plan;
2. With at least five affirmative votes, adopt a resolution approving the Proposed Annual Budget for Fiscal Year 2024-2025 totaling $1,456,914,984 and for Fiscal Year 2025-2026 totaling $1,479,469,747; and
3. Delegate investment authority to the City’s Chief Financial Officer/Treasurer for a period of one year beginning July 1, 2024, and ending June 30, 2025.
Recommendations
17