7/3/2025
1 RiversideCA.gov1
RiversideCA.govFY 2024/25 Third Quarter Financial Update City CouncilJuly 15, 2025Finance Department
RiversideCA.gov2
Fiscal Health and OutlookSignificant uncertainty of future fiscal outlook remains•Tariffs•Immigration Policies•Other Federal Action Overall, the City maintains a strong financial position 7/3/2025
2 RiversideCA.gov3
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 Contributions9.10 Infrastructure Reserve5.00 Technology Reserve16.63 Water GFT Escrow77.19 Section 115 Trust$ 138.16Total$ 210.40Total ReservesMeasure ZBalance(in millions)$ 37.28 Available Fund Reserves*5.00 Policy Reserve$ 42.28 Total* Reflects projected fund balance for FY 2024/25 Budget Adjustments as of third quarter adjustments.* Measure Z fund balance is anticipated to be drawn down over the adopted five-year plan.
RiversideCA.gov4
GENERAL FUND & MEASURE Z OVERVIEWFY 2024/25 SummaryFinal Adjusted Budget*Q3 Recommended AdjustmentsCouncil Approved Adjustments through April 8Adopted BudgetGeneral Fund$ 366,819,533 $ 500,000 $ 5,092,306 $ 361,227,227 Revenue/Transfers In366,607,555 (2,000)5,382,328 361,227,227 Expenditure/Transfers Out$ 211,978 $ 502,000$ (290,022) $ -Surplus/(Deficit)Measure Z$ 81,309,000 $ -$ (3,206,000)$ 84,515,000 Revenue/Transfers In101,892,821-(2,390,524) 104,283,345 Expenditure/Transfers Out(20,583,821)-(815,476) (19,768,348) Fund Balance Drawdown*$ -$ -$ -$ -Surplus/(Deficit)* Excludes carryovers and approved ARPA adjustments that do not have a net impact the on surplus/deficit calculation.** Continues a strategic Measure Z fund balance drawdown as adopted by City Council in the adopted budget. 7/3/2025
3 RiversideCA.gov5
GENERAL FUND REVENUESGeneral Fund (in millions)Net Change of Actual % from Q3 FY 23/24Third Quarter Actuals (% of budget)Third Quarter AdjustmentsAmended Budget 4/8/2025Adopted BudgetRevenue Category0.6%52.8%$ -$ 92.59 $ 92.59 Property Taxes1.3%60.2%-91.9393.84 Sales Tax0.0%0.0%--.50 Cannabis Tax2.0%73.0%-34.94 34.94 Utility Users Tax1.3%69.8%-8.71 8.71 Transient Occupancy Tax-1.8%51.0%-6.91 6.91 Franchise Fees-2.6%67.1%-11.96 11.96 Licenses & Non-Developer Permits-9.0%69.1%-12.04 12.04 Non-Development Charges for Services-23.9%59.2%-8.46 8.46 Development Fees & Charges0%75.0%-53.45 53.41 General Fund Transfer0%75.0%-18.27 18.27 Measure Z Transfer0%0%-5.89 0 Public Safety Support(Measure Z)21.0%103.0%.5021.1719.61 Other Revenues & Transfers In0.3%64.5%$ .50 $ 366.31 $ 361.22 Total Revenues & Transfers In RiversideCA.gov6
GENERAL FUND EXPENDITURES
76.8%58.5%42.1%38.2%78.1%86.6%0% 25% 50% 75% 100%PersonnelNon-PersonnelSpecial ProgramsMinor CapitalCharges to/from OthersTransfers OutQ3 Actual as % of BudgetAmended Budget$258.0 M$89.3 M$18.2 M$6.2 M($42.5 M)$71.2 MAmended Budget includes prior fiscal year encumbrances and carryovers. 7/3/2025
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MEASURE Z REVENUE & EXPENDITURES
$84.5$104.3$81.3$149.8$49.1(60%)$72.7(49%)$0$50$100$150Revenue ExpenditureMeasure Z(in millions) Adopted
Amended
Q3 Actuals-Continues a strategic use of unallocated Measure Z reserves as adopted by City Council in the adopted budget.-Amended Budget includes prior fiscal year encumbrances and carryovers.
RiversideCA.gov8
Electric FundAmended Budget includes prior fiscal year encumbrances and carryovers.Excludes bond proceeds and capital expenditures $453.6$444.3$453.6$464.6$367.5(81%)$315.9(68%)$0$100$200$300$400$500Revenue ExpenditureElectric Fund(in millions) Adopted
Amended
Q3 Actuals
7/3/2025
5 RiversideCA.gov9
Water FundAmended Budget includes prior fiscal year encumbrances and carryovers.Excludes bond proceeds and capital expenditures $98.9$95.9$99.1$102.8$78.1(79%) $65.8(64%)$0$20$40$60$80$100$120Revenue ExpenditureWater Fund (in millions) Adopted
Amended
Q3 Actuals
RiversideCA.gov10
Refuse FundAmended Budget includes prior fiscal year encumbrances and carryovers.Excludes capital expenditures $34.9$38.0$35.8$48.9$27.3(76%)$25.0(51%)$0$10$20$30$40$50$60Revenue ExpenditureRefuse Fund(in millions) Adopted
Amended
Q3 Actuals
7/3/2025
6 RiversideCA.gov11
Sewer FundAmended Budget includes prior fiscal year encumbrances and carryovers.Excludes capital expenditures
82.673.2$82.6$76.5$54.6(66%)$56.3(74%)$0$15$30$45$60$75$90Revenue ExpenditureSewer Fund(in millions) Adopted
Amended
Q3 Actuals
RiversideCA.gov12
Public Parking FundAmended Budget includes prior fiscal year encumbrances and carryovers.Excludes capital expenditures $10.4$9.4$10.4$10.0$9.1(87%)$5.7(57%)$0$3$6$9$12Revenue ExpenditureParking Fund(in millions) Adopted
Amended
Q3 Actuals
7/3/2025
7 RiversideCA.gov13
STRATEGIC PLAN ALIGNMENT
HIGH PERFORMING GOVERNMENTCROSS-CUTTING THREADS
Equity
Innovation
Community Trust
Fiscal Responsibility
Sustainability and Resiliency
RiversideCA.gov14
1. Receive and provide input on the Fiscal Year 2024/25 Third Quarter FinancialUpdate;2. With at least five affirmative votes, authorize a supplemental appropriation andinterfund transfer from the Regional Park Special Capital Improvement to theGeneral Fund in the amount of $500,000; and3. Approve a budget reduction of $2,000 in the General Fund, City Council Ward 6,Office Supplies and Travel budget as a General Fund cost savings measure.RECOMMENDATIONSThat the City Council: