12/30/2025
1 RiversideCA.gov1
RiversideCA.govFY 2024/25 Fourth Quarter Financial Update City CouncilJanuary 13, 2026Finance Department
RiversideCA.gov2
Summary
Overall, the City concluded FY 2024/25 in a strong financial positionSignificant uncertainty of future fiscal outlook remains$9.56M Unassigned General Fund Reserve (unaudited)•Revenues -1.4% above projections•Expenditures -1.6% below budget Enterprise Funds expected to end the fiscal year with reserves within required policy levels1 2 12/30/2025
2 RiversideCA.gov3
GENERAL FUND REVENUESGeneral Fund (in millions)Variance%Variance$Actuals(Unaudited)Total BudgetAdopted BudgetRevenue Category2.1%$ 1.94$ 94.53 $ 92.59 $ 92.59 Property Taxes3.3%3.0094.93 91.9393.84 Sales Tax----.50 Cannabis Tax1.0%.3435.28 34.94 34.94 Utility Users Tax4.6%.409.118.71 8.71 Transient Occupancy Tax-8.8%(.60)6.306.91 6.91 Franchise Fees-14.7%(1.76)10.2011.96 11.96 Licenses & Non-Developer Permits2.2%.2612.3012.04 12.04 Non-Development Charges for Services-22.9%(1.94)6.528.46 8.46 Development Fees & Charges--53.4553.45 53.41 General Fund Transfer--24.1624.1618.27 Measure Z Transfer6.7%3.958.5554.6014.84Other Revenues & Transfers In--4.764.764.76Use of Reserves1.4%$ 5.58$ 410.09 $ 404.51 $ 361.22 Total Revenues & Transfers In RiversideCA.gov4
GENERAL FUND EXPENDITURESTotal Budget includes prior fiscal year encumbrances and carryovers.General Fund (in millions)Variance%Variance$Actuals(Unaudited)Total BudgetAdopted BudgetExpenditure Category2.0%$ 5.03$ 253.65 $ 248.62 $ 241.35 Personnel--11.3911.3911.39CalPERS UAL -18.8%(17.03)73.5090.5378.57Non-Personnel Costs-31.9%(4.02)8.5812.6010.89Special Projects-52.9%(5.66)5.0410.703.71Minor Capital & Grants--29.2629.2629.26Debt Service-5.0%(2.25)(44.82)(42.57)(42.47)Charges To/From & Cost Allocation Plan1.0%.3536.4036.0512.00Operating Transfers1.8.031.701.671.67Special Districts Fund Contribution-1.1%(.03)3.473.513.51Convention Center Fund Contribution-28.8%(.19)0.470.650.65Entertainment Fund Contribution-14.2%(.15)0.911.061.06Cheech Marin Center Fund Contribution--0.910.910.91Parks Capital Fund--8.528.528.52Water GFT Escrow----0.19Designated for Future Operations-17.3517.35--Encumbrances & Carryovers*-1.6%($6.55)$ 406.33 $ 412.89 $ 361.22 Total Expenditures & Transfers Out 3 4
12/30/2025
3 RiversideCA.gov5
MEASURE Z REVENUE & EXPENDITURES-Continues a strategic use of unallocated Measure Z reserves as adopted by City Council in the adopted budget.MEASURE Z ACTIVITY HISTORY AND PROJECTED FUND RESERVES2025202420232022202120202019(in millions)$ 83.67$ 84.20$85.84$83.91$72.65$63.14$62.82Revenue(100.90)(86.10)(69.61)(67.45)(50.85)(49.57)(40.99)Expenditures(44.44)-----Encumbrances & Carryovers$(61.67)$(1.90)$16.24$16.46$21.80$13.57$21.83Net Change in Fund Balance$105.72$107.63$91.40$74.94$53.14$39.56$22.73Beginning Available Fund Balance(61.67)(1.90)16.2416.4621.8013.5721.83Net Change in Fund Balance------(5.00)Fund Balance Reserve Policy$44.05$105.72$107.63$91.40$74.94$53.13$39.56Ending Available Fund BalancePermanent Policy Reserve Set-Aside: $5M RiversideCA.gov6
GENERAL FUND & MEASURE Z RESERVE BALANCESGeneral FundBalance(in millions)Policy Reserves$ 57.32 Emergency Reserve (15%)19.11 Contingency Reserve (5%)$ 76.43 TotalOther Reserves$ 30.24 Reserved for Section 115 Trust Contributions11.71 Infrastructure Reserve5.00 Technology Reserve16.63 Water GFT Escrow76.85 Section 115 Trust9.56Unassigned$ 149.99Total$ 226.42Total ReservesMeasure ZBalance(in millions)$ 44.05 Available Fund Reserves*5.00 Policy Reserve$ 49.05 Total* Measure Z fund balance is anticipated to be drawn down over the previously adopted five-year plan. 5 6
12/30/2025
4 RiversideCA.gov7
Electric FundTotal Budget includes prior fiscal year encumbrances and carryovers.Excludes capital expenditures.$453.62 $444.25 $453.62 $465.26 $492.22 $444.21 $420.00 $430.00 $440.00 $450.00 $460.00 $470.00 $480.00 $490.00 $500.00Revenue ExpenditureElectric Fund Budget to Actual (in millions)Adopted BudgetTotal BudgetUnaudited Actuals RiversideCA.gov8
Water FundTotal Budget includes prior fiscal year encumbrances and carryovers.Excludes bond proceeds and capital expenditures.$98.85 $95.85 $99.12 $102.91 $106.02 $99.21 $90.00 $92.00 $94.00 $96.00 $98.00 $100.00 $102.00 $104.00 $106.00 $108.00Revenue ExpenditureWater Fund Budget to Actual (in millions)Adopted BudgetTotal BudgetUnaudited Actuals7 8 12/30/2025
5 RiversideCA.gov9
Refuse FundTotal Budget includes prior fiscal year encumbrances and carryovers.Excludes bond proceeds and capital expenditures.$34.90 $38.04 $35.83 $48.88 $39.47 $49.15 $- $10.00 $20.00 $30.00 $40.00 $50.00 $60.00Revenue ExpenditureRefuse Fund Budget to Actual (in millions)Adopted BudgetTotal BudgetUnaudited Actuals RiversideCA.gov10
Sewer FundTotal Budget includes prior fiscal year encumbrances and carryovers.Excludes capital expenditures.$82.64 $73.17 $92.67 $76.76 $95.69 $69.93 $- $20.00 $40.00 $60.00 $80.00 $100.00 $120.00Revenue ExpenditureSewer Fund Budget to Actual (in millions)Adopted BudgetTotal BudgetUnaudited Actuals9 10 12/30/2025
6 RiversideCA.gov11
Public Parking FundTotal Budget includes prior fiscal year encumbrances and carryovers.Excludes capital expenditures.$10.43 $9.44 $10.43 $10.20 $11.58 $8.42 $- $2.00 $4.00 $6.00 $8.00 $10.00 $12.00 $14.00Revenue ExpenditurePublic Parking Fund Budget to Actual (in millions)Adopted BudgetTotal BudgetUnaudited Actuals RiversideCA.gov12
CarryoversTotalDiscretionaryRestrictedFund$4,775,997 $4,039,262 $736,735 General Fund5,825,527 5,825,527 -Measure Z Fund8,757,801 8,757,801-Electric Fund6,823,366 6,823,366 -Water Fund78,525-78,525Refuse Fund488,813 488,813 Sewer Fund18,134,227 6,441,709 11,692,518 Other Funds$ 44,884,257 $ 32,376,478 $ 12,507,779 Total Carryovers11 12 12/30/2025
7 RiversideCA.gov13
1. Receive and provide input on the Fiscal Year 2024/25 Fourth Quarter FinancialReport; and2. With at least five affirmative votes, approve a carryover of unexpended funds ofapproximately $4.78 million in the General Fund and $40.11 million in other Cityfunds into Fiscal Year 2025/26.3. With at least five affirmative votes, authorize the Chief Financial Officer, ordesignee, to record a FY 2025/26 supplemental appropriation from available fundbalance and projected annual CUPA revenues of $167,424 in the Grants andRestricted Programs Fund, CUPA, personnel expenditure accounts and increase 1.0FTE for a Deputy Fire Marshal in the Fire Department;RECOMMENDATIONSThat the City Council:
RiversideCA.gov14
4. With at least five affirmative votes, authorize the Chief Financial Officer, ordesignee, to record a FY 2025/26 net supplemental appropriation of $400,000 fromthe General Fund Infrastructure Reserve and reallocation of $400,000 from GoeskeCenter bathroom renovations to fund $500,000 in Orange Terrace Community Parkplayground renovations and $300,000 for the Hole Lake Master Plan; and5. With at least five affirmative votes, authorize the Chief Financial Officer, ordesignee, to record a FY 2025/26 $500,000 supplemental appropriation andinterfund transfer from the General Fund to the Capital Projects Fund to establishthe Orange Terrace Community Park playground project funding.RECOMMENDATIONSThat the City Council:13 14