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 City Co unc il Ma y 1, 2018 1 Rive rside CA.g ov Rive rside CA.g ov BACKGROUND 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 16 th – 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 . 2 Rive rside CA.g ov 1
BUDGE T T HE ME – PROMISE S MADE , PROMISE D KE PT 3 Rive rside CA.g ov 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 4 Rive rside CA.g ov 2
BOT T OM L INE 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 5 Rive rside CA.g ov CAL PE RS 6 Rive rside CA.g ov 3
E NT E RPRISE F UND RAT E S 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 . 7 Rive rside CA.g ov F L AT T E NING RE VE NUE S 8 Rive rside CA.g ov 4
GE NE RAL F UND ME ASURE S 1. Pro je c te d sho rtfa lls 4. Re ve nue ($2.3M) - E xa mple s: a ) F Y 2018-2019: $4 millio n a ) Re funding o f o ld Re de ve lo pme nt de b t ($1 millio n) b ) F Y 2019-2020: $6.3 millio n b ) F ire Aid Ag re e me nt ($230,000) 2. Prio ritie s c ) Sa le o f City-o wne d I P a ddre sse s a ) Pub lic Sa fe ty ($200,000) b ) I nfra struc ture 5. E xpe nditure s ($8M) – E xa mple s: c ) Custo me r Se rvic e a ) Re ne g o tia te d/ c o nso lida tio n o f 3. Ba la nc ing Me a sure s ve ndo r a g re e me nts ($587,000) a ) No -ta x re ve nue b ) Co nso lida tio n o f dutie s to re duc e e nha nc e me nts po sitio ns ($434,000) b ) No n-pe rso nne l me a sure s c ) E limina te d va c a nc ie s ($1.3 millio n) 9 Rive rside CA.g ov E L E CT RIC & WAT E R RE VE NUE ME ASURE S 10 Rive rside CA.g ov 5
E L E CT RIC & WAT E R E XPE NSE ME ASURE S 11 Rive rside CA.g ov SE WE R, RE F USE AND PARKING ME ASURE S 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 12 Rive rside CA.g ov 6
F Y 2018- 2020 T WO- YE AR BUDGE T - RE VE NUE S 13 Rive rside CA.g ov F Y 2018- 2020 T WO- YE AR BUDGE T - E XPE NDIT URE S 14 Rive rside CA.g ov 7
F Y 2018- 2020 OPE RAT ING BUDGE T 15 Rive rside CA.g ov F Y 2018- 2020 CAPIT AL BUDGE T 16 Rive rside CA.g ov 8
NE XT ST E PS 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 8 th , 15 th , 22 nd 3. June 12 th – Pub lic he a ring a nd b udg e t a do ptio n 17 Rive rside CA.g ov RE COMME NDAT IONS 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. 18 Rive rside CA.g ov 9
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