City Co unc il Ma y 1, 2018 1 Rive rside CA.g ov Rive rside CA.g - - PDF document

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Rive rside CA.g ov

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Rive rside CA.g ov

City Co unc il Ma y 1, 2018

Propose d F Y 2018- 2020 T wo- Ye a r Budg e t a nd F Y 2018- 2023 Ca pita l Improve me nt Prog ra m Pla n

F ina nc e De pa rtme nt

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• 1. No ve mb e r 2017 – de ve lo pme nt o f the City b udg e t b e g a n;
• 2. Ja nua ry 16th – b a se line b udg e t a nd five -ye a r pla ns

pre se nte d to City Co unc il;

• 3. Ja nua ry–April – Pub lic e ng a g e me nt, inc luding :

a ) Budg e t E ng a g e me nt Co mmissio n b ) F ina nc e Co mmitte e c ) L ib ra ry Bo a rd o f T ruste e s d ) Bo a rd o f Pub lic Utilitie s e ) Co mmunity Budg e t Wo rksho ps f) Pre se nta tio ns to City e mplo ye e s, unio n le a de rs, a nd the Gre a te r Rive rside Cha mb e r o f Co mme rc e .

BACKGROUND

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BUDGE T T HE ME – PROMISE S MADE , PROMISE D KE PT

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F IVE

• YE

AR F INANCIAL PL ANS

• Ge ne ra l F

und

• Me a sure Z
• E

le c tric F und

• Wa te r F

und

• Se we r F

und

• Re fuse F

und

• Pa rking F

und

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• 1. Ba la nc e d Budg e t

a ) F Y 2018-2019: $1.08 b illio n b ) F Y 2019-2020: $1.12 b illio n

• 2. F

a c to rs a ffe c ting the b udg e t

a ) Ca lPE RS c o st inc re a se s b ) E nte rprise fund ra te s c ) F la tte ning o f Ge ne ra l F und Re ve nue s

BOT T OM L INE

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CAL PE RS

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• 1. E

le c tric a nd Wa te r ra te inc re a se inc lude d in b udg e t a ssumptio ns:

a ) I nc re a se d re ve nue to E nte rprise F unds b ) I nc re a se d c o sts to o the r City funds, inc luding $1 millio n to the Ge ne ra l F und c ) Ge ne ra l F und T ra nsfe r

• 2. No future ra te inc re a se s pro je c te d in the b udg e t fo r

Se we r, Re fuse o r Pa rking .

E NT E RPRISE F UND RAT E S

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F L AT T E NING RE VE NUE S

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• 1. Pro je c te d sho rtfa lls

a ) F Y 2018-2019: $4 millio n b ) F Y 2019-2020: $6.3 millio n

• 2. Prio ritie s

a ) Pub lic Sa fe ty b ) I nfra struc ture c ) Custo me r Se rvic e

• 3. Ba la nc ing Me a sure s

a ) No -ta x re ve nue e nha nc e me nts b ) No n-pe rso nne l me a sure s

GE NE RAL F UND ME ASURE S

• 4. Re ve nue ($2.3M) - E

xa mple s:

a ) Re funding o f o ld Re de ve lo pme nt de b t ($1 millio n) b ) F ire Aid Ag re e me nt ($230,000) c ) Sa le o f City-o wne d I P a ddre sse s ($200,000)

• 5. E

xpe nditure s ($8M) – E xa mple s:

a ) Re ne g o tia te d/ c o nso lida tio n o f ve ndo r a g re e me nts ($587,000) b ) Co nso lida tio n o f dutie s to re duc e po sitio ns ($434,000) c ) E limina te d va c a nc ie s ($1.3 millio n)

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E L E CT RIC & WAT E R RE VE NUE ME ASURE S

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E L E CT RIC & WAT E R E XPE NSE ME ASURE S

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• 1. Re fuse : De fe r e q uipme nt purc ha se s
• 2. Se we r: Re struc ture de b t
• 3. Pa rking : Re vie w ra te inc re a se s re c o mme nde d in the

Pa rking Pla n Use o f fund b a la nc e re se rve s to b a la nc e the F Y 2018- 2020 T wo -Ye a r Budg e t:

• 1. Ra te Sta b iliza tio n
• 2. All funds will re ma in within po lic y re q uire me nts

SE WE R, RE F USE AND PARKING ME ASURE S

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F Y 2018- 2020 T WO- YE AR BUDGE T

• RE

VE NUE S

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F Y 2018- 2020 T WO- YE AR BUDGE T

• E

XPE NDIT URE S

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F Y 2018- 2020 OPE RAT ING BUDGE T

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F Y 2018- 2020 CAPIT AL BUDGE T

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• 1. F

ina nc e sta ff inc o rpo ra te s City Co unc il re c o mme nde d c ha ng e s into the pro po se d b udg e t

• 2. De pa rtme nt pre se nta tio ns to City Co unc il o n Ma y 8th,

15th, 22nd

• 3. June 12th – Pub lic he a ring a nd b udg e t a do ptio n

NE XT ST E PS

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T ha t City Co unc il:

• 1. Re c e ive a nd pro vide input o n:

a . T he pro po se d F isc a l Ye a r 2018-2020 T wo -Ye a r Budg e t; b . T he 2018-2023 F ive -Ye a r Spe nding Pla ns fo r the Ge ne ra l F und, Me a sure Z, E le c tric , Wa te r, Se we r, Re fuse , a nd Pa rking F unds; a nd c . T he pro po se d F isc a l Ye a r 2018-2020 Ca pita l I mpro ve me nt Pro g ra m Budg e t a nd 2018-2023 Ca pita l I mpro ve me nt Pro g ra m Pla n.

• 2. Se t a pub lic he a ring fo r a do ptio n o f the F

Y 2018-2020 T wo - Ye a r Budg e t a nd F Y 2018-2020 T wo -Ye a r Ca pita l I mpro ve me nt Pro g ra m Budg e t o n June 12, 2018.

RE COMME NDAT IONS