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1 RiversideCA.gov1
RiversideCA.govCity Council November 4, 2025FINANCE DEPARTMENT OVERVIEW AND EMPLOYEE RECOGNITION RiversideCA.gov2
MissionThe mission of the Finance Department is to provide fiduciary control of the City's assets, perform fiscally related services, and provide accurate, timely and useful financial information to support the delivery of municipal services to the City organization and the public. 1 2 10/22/2025
2 RiversideCA.gov3
Organizational Chart
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•Safeguard ARPA Funding•Labor negotiations•ERP Gap Analysis•Employee Development•Leadership Development•Interdepartmental CollaborationAdministration•Biennial Budget Development•ERP Requirements & RFP•Procurement ReformVACANCY RATE10%13%7%3 4 10/22/2025
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•Awards for Excellence in Financial Reporting•PAFR in English and Spanish•Implemented GASBpronouncements•Successfully defended against cybersecurity threats•Reduced vendor onboarding time from 90 days to <30 daysAccounting6.8k Invoices processed ACCOUNTS PAYABLE48kInvoices processed$1.39 million in disbursements
ACCOUNTS RECEIVABLE
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•Biennial Budget–Year 2 budget updates•Quarterly and FYE reports•Fees & charges studies•Development impact fee studies•Labor negotiations fiscal impact•Council Reports fiscal impact BudgetBUDGETSCapital$158MOperating$1.37BTotal: $1.53 Billion Labor Unions
10Fiscal Impact Scenarios>50
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•Chambers engagement•Business Tax Discovery Program•Transient Occupancy Tax Audits (Ongoing)•Utility Users Tax Audits•Business Engagement & EducationBusiness TaxTax Discovery Received $1.01 MillonActive Licenses with the City of Riverside26k
STATISTICS
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•$185M Debt Refinancing reducing future debt service costs to the city resulting in $19.6Msavings (Net Present Value)•$47.3M New Issuances•Management of $77M Pension 115 Trust Portfolio, $1B Investment Portfolio and $2B Debt Portfolio •Completion of Museum Financing•Launch of Modern Investor Relations websiteDebt & Treasury516Customers2.1Transactionsper Customer$3.6 MillionDAILY EQUIVALENTTREASURY Payments281kCustomers
126kTotal: $900 Million7
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PurchasingCENTRAL STORESWork Orders
1.9kTotal: $10,366,678
Items Processed1.3 MillionTickets
4,823Purchase Orders3.7k
Bidders518Awarded$131 Millionfor Bid/Proposal160 Requests 29 DaysAvg. RFP LengthPURCHASING RiversideCA.gov10
RiversideCA.gov
FINANCE DEPARTMENT EMPLOYEES OF THE YEAR
Maria GuerreroJamie Kovacs9
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