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1 RiversideCA.gov1
RiversideCA.govAmendment FY 2025/26 Budget
City CouncilJune 17, 2025Finance Department
RiversideCA.gov2
Fiscal Health and OutlookOverall, the City maintains a strong financial positionSignificant uncertainty of future fiscal outlook remains•Tariffs•Immigration Policies•Other Federal ActionRecommend proactive measures pending additional revenue and economic data 1 2
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2 RiversideCA.gov3
All Funds Revenue - (Citywide Budget)All Funds (in thousands)Amended BudgetProposed AdjustmentAdopted BudgetRevenue Category$ 345,527 $ (6,256)$ 351,783 Taxes21,113 (1,395)22,507 Licenses and Permits45,638 (171)45,810 Intergovernmental760,613 (5,144)765,757 Charges for Services6,921 794 6,127 Fines & Forfeitures12,717 781 11,936 Special Assessments44,317 166 44,151 Miscellaneous2,984 -2,984 Rents659 (1,650)2,309 Other Financing Sources42,630 825 41,805 Debt Transfers In121,214 6,267 114,946 Operating Transfers In12,003 7,652 4,352 Use of Section 115 Trust Set Aside668 473 194 Use of Reserves$ 1,417,004 $ 2,343 $ 1,414,661 Total Revenues & Transfers In RiversideCA.gov4
All Funds Expenditures - (Citywide Budget)All Funds (in thousands)Amended BudgetProposed AdjustmentAdopted BudgetExpenditures$ 436,612 $ 9,879 $ 426,733 Personnel Services29,147 5,984 23,163 CalPERS UAL497,269 8,659 488,610 Non-personnel Expenses74,300 (1,976)76,276 Special Projects5,375 (1,000)6,375 Equipment Outlay232,126 3,461 228,664 Debt Service/Debt Transfers Out159,52217,304142,218 Capital Outlay101,532 453 101,079 Charges from Others(138,259)(480)(137,779)Charges to Others121,214 6,267 114,946 Operating Transfers Out9,183 -9,183 Water GFT Escrow$ 1,528,021 $ 48,552$ 1,479,470 Total Expenditures & Transfers Out 3 4
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3 RiversideCA.gov5
GENERAL FUND & MEASURE Z RESERVE BALANCESGeneral FundBalance(in millions)Policy Reserves$ 54.18 Emergency Reserve (15%)18.06 Contingency Reserve (5%)$ 72.24 TotalOther Reserves$ 30.24 Reserved for Section 115 Trust Contributions9.38 Infrastructure Reserve5.00 Technology Reserve16.63 Water GFT Escrow77.19 Section 115 Trust$ 138.44 Total$ 210.68 Total ReservesMeasure ZBalance(in millions)$ 35.89 Fund Balance*5.00 Policy Reserve$ 40.89 Total* Reflects projected fund balance as of FY 2024/25 Budget Adjustments approved through April 8, 2025.* Measure Z fund balance is anticipated to be drawn down over the adopted five-year plan.
RiversideCA.gov6
GENERAL FUND & MEASURE Z OVERVIEWFY 2025/26 SummaryAmended BudgetProposed AdjustmentsAdopted BudgetGeneral Fund$ 382,157,213 $ 10,351,514 $ 371,805,699 Revenue/Transfers In382,157,213 10,351,514 371,805,699 Expenditure/Transfers Out$ -$ -$ -Surplus/(Deficit)Measure Z$ 84,096,000 $ (2,901,000)$ 86,997,000 Revenue/Transfers In107,253,487 5,658,955 101,594,532 Expenditure/Transfers Out23,157,487 8,559,955 14,597,532 Use of Fund Balance*$ -$ -$ -Surplus/(Deficit)*The amended FY 2025/26 budget continues a strategic Measure Z fund balance drawdown as adopted by City Council in the 2024-2026 Biennial Budget at a higher level. 5 6
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4 RiversideCA.gov7
GENERAL FUND & MEASURE Z REVENUESGeneral Fund (in thousands)% ChangeAmended BudgetProposed AdjustmentAdopted BudgetRevenue Category-0.8%$ 96,473 $ (747)$ 97,220 Property Taxes-2.6%94,092 (2,489)96,581 Sales Tax0.0%1,000 -1,000 Cannabis Tax-0.1%37,121 (34)37,155 Utility Users Tax-0.5%8,927 (43)8,970 Transient Occupancy Tax-0.7%7,160 (53)7,213 Franchise Fees-14.6%11,106 (1,892)12,999 Licenses & Non-Developer Permits-0.1%12,214 (15)12,229 Non-Development Charges for Services12.2%9,735 1,062 8,673 Development Fees & Charges0.0%56,199 -56,199 General Fund Transfer0.0%18,266 -18,266 Measure Z Transfer100.0%7,367 7,367 -Public Safety Support(Measure Z)47.0%22,498 7,197 15,301 Other Revenues & Transfers In2.8%$ 382,157 $ 10,352 $ 371,805 Total Revenues & Transfers InMeasure Z (in thousands) % ChangeYear-End ProjectionAmended Budget12/31/2024Adopted BudgetRevenue Category-3.4%$ 83,296 $ (2,901)$ 86,197 Sales Tax0.0%800 -800 Interest Earnings-3.3%$ 84,096 $ (2,901)$ 86,997 Total Revenues & Transfers In RiversideCA.gov8
GENERAL FUND EXPENDITURESGeneral Fund (in thousands)% ChangeAmended BudgetProposed AdjustmentAdopted BudgetExpenditure Category2.5%$ 277,141 $ 6,778 $ 270,363 Personnel0.0%(15,891)(1)(15,890)Vacancy Factor2.1%12,999 266 12,733 Cal PERS UAL-Safety71.2%6,582 2,738 3,844 Cal PERS UAL-Misc0.8%79,496 604 78,891 Non Personnel-0.4%10,492 (45)10,537 Special Projects78.8%908 400 508 Minor Capital Outlay0.0%22,048 -22,048 Debt Service1.4%(21,125)(288)(20,837)Charges To/From0.0%(22,831)-(22,831)Cost Allocation Plan0.0%9,000 -9,000 Section 115 Trust Transfer0.0%9,183 -9,183 Water GFT Escrow-0.7%14,157 (100)14,257 Other Funds Subsidy2.8%$ 382,157 $ 10,351 $ 371,806 Total Expenditures & Transfers Out 7 8
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5 RiversideCA.gov9
MEASURE Z EXPENDITURESMeasure Z (in thousands)% ChangeAmended BudgetProposed AdjustmentAdopted BudgetExpenditure Category3.0%$ 28,362 $ 813 $ 27,549 Personnel94.5%(973)(473)(500)Vacancy Factor3.1%2,064 62 2,002 Cal PERS UAL-Safety72.1%397 167 231 Cal PERS UAL-Misc6.5%9,449 579 8,871 Non Personnel-14.2%10,133 (1,681)11,814 Special Projects-37.9%1,637 (1,000)2,637 Minor Capital Outlay5.9%14,806 825 13,981 Debt Service0.0%19 -19 Charges To/From18.2%41,358 6,367 34,991 Transfers Out5.6%$ 107,253 $ 5,659 $ 101,595 Total Expenditures & Transfers Out RiversideCA.gov10
ADUSTING TO A BALANCED BUDGETCost Savings Measures (General Fund and Measure Z)AmountIssueAmountIssue$ 1,500,000 Deferred Maintenance (MZ)$ 7,651,773 Section 115 Set Aside (GF)1,000,000Citywide Fleet (MZ)950,000Forestry & Landscape Equipment (GF)1,000,000Parks Capital Improvements (MZ)250,000Talent Management System (GF)383,413PSET Vacancies (MZ)45,000ASL Interpretive Services (GF)3,483,928MZ Fund Balance$ 16,264,114 Total9 10 6/5/2025
6 RiversideCA.gov11
Electric FundExcludes bond proceeds and capital expenditures.$485.5M$456.8M$485.5M$472.1M$400.0$420.0$440.0$460.0$480.0$500.0Revenue ExpenditureAdoptedAmended RiversideCA.gov12
Water Fund$106.5M$93.7M$106.5M$94.8M$60.0$70.0$80.0$90.0$100.0$110.0Revenue ExpenditureAdoptedAmendedExcludes bond proceeds and capital expenditures. 11 12
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Refuse Fund$37.0M$37.0M$37.6M$39.1M$30.0$32.0$34.0$36.0$38.0$40.0Revenue ExpenditureAdoptedAmendedExcludes bond proceeds and capital expenditures.
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Sewer FundExcludes bond proceeds and capital expenditures.$78.3M$74.9M$78.3M$77.2M$70.0$72.0$74.0$76.0$78.0$80.0Revenue ExpenditureAdoptedAmended13 14 6/5/2025
8 RiversideCA.gov15
Public Parking FundExcludes bond proceeds and capital expenditures.$11.2M$9.7M$11.7M$10.0M$8.0$9.0$10.0$11.0$12.0Revenue ExpenditureAdoptedAmended RiversideCA.gov16
STRATEGIC PLAN ALIGNMENT
HIGH PERFORMING GOVERNMENTCROSS-CUTTING THREADS
Equity
Innovation
Community Trust
Fiscal Responsibility
Sustainability and Resiliency
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9 RiversideCA.gov17
RECOMMENDATIONSThat the City Council:1. Conduction a public hearing on the proposed amendment of Fiscal Year 2025/26 of the previously adopted Fiscal Year 2024-2026 Biennial Budget;2. Adopt a resolution approving the proposed amended annual budget for Fiscal Year 2025/26 totaling $1,528,021,444 Citywide, with the addition of any revisions that the City Council may deem advisable per Section 1102 of the City Charter; and3. Delegate investment authority to the City’s Chief Financial Officer/City Treasurer for a period of one year beginning July 1, 2025, and ending June 30, 2026.17