Development of the Fiscal
Year 2021/22 city budget is currently in process.
Citizens are encouraged to participate in the budget
development process by attending upcoming meetings where
the proposed budget will be discussed, following by
Council adoption of the budget in June 2021. All
meetings are currently virtual, with public comment
available by telephone. Go to
https://riversideca.legistar.com/Calendar.aspx to
watch a meeting and obtain information on how to
participate. Public meeting dates and times related to
the Fiscal Year 2021/22 budget are:
March 8, 2021 | 5:00PM | Board of Library Trustees (Library
Department proposed budget) |
March 15, 2021 | 6:30PM | Parks & Recreation Commission (Parks,
Recreation & Community Services Department
budget) |
March 22, 2021 | 6:30PM | Board of Public Utilities (Riverside
Public Utilities proposed budget) |
March 24, 2021 | 3:00PM | Museum of Riverside Board (Museum
Department proposed budget) |
March 31, 2021 | 5:00PM | Budget Engagement Commission –
Special Meeting (City Department budget
presentations) |
April 8, 2021 | 5:00PM | Budget Engagement Commission –
Special Meeting (City Department budget
presentations) |
April 15, 2021 | 5:00PM | Budget Engagement Commission –
Regular Meeting (City Department budget
presentations) |
April 19, 2021 | 8:00AM | City Council Budget Workshop (City
Department budget presentations) |
May 13, 2021 | 5:00PM | Budget Engagement Commission – FY
2021-2022 Proposed Budget |
May 18, 2021 | City Council – FY 2021-2022 Proposed
Budget |
|
June 10, 2021 | 5:00PM | Budget Engagement Commission – FY
2021-2022 Final Budget |
June 22, 2021 | City Council – Adoption of the FY
2021-2022 Annual Budget |
On June 16, 2020, the City Council adopted a one-year $1.2 billion emergency budget, inclusive of a $110 million capital project budget. The adopted General Fund budget is $271.4 million, a decrease of $7.7 million as compared to the FY 2019-2020 amended budget adopted by the City Council on June 18, 2019. In response to COVID-19, General Fund projected revenues were reduced by 10% ($28.1 million), and multiple balancing measures were incorporated, including: $15.7 million targeted vacancy savings; $7 million savings in pension costs resulting from the issuance of a Pension Obligation Bond; sustained Measure Z support levels and use of unspent contingency funds; and the use of Section 115 Trust funds to pay a portion of the annual required CALPERS UAL payment.
Immediately upon the declaration of
the local emergency, the City restricted all spending to
emergency and essential needs and suspended personnel
recruitment. The City continues to seek all available
state and federal funding to help the City government,
local businesses, and residents with the impacts of the
pandemic. Periodic fiscal updates will be provided to
the City’s applicable boards and commissions and to City
Council as more information becomes available.
Adjustments to the adopted emergency budget will be
recommended as the fiscal impact of the COVID-19
emergency on City finances becomes more apparent. The
City is also taking immediate action to pursue a new
budgeting methodology referred to as Priority Based
Budgeting. This methodology will allow the City to be
more nimble in response to fiscal emergencies.
Additionally, the methodology facilitates the alignment
of monetary and personnel resources to services and
programs that align with the City’s strategic goals.
This is the next important step in fiscal transparency
and public engagement in the budget process.
Navigation Guide: Budget Transparency Portal