Third-Quarter Budget Update Reports Stable Finances Despite Cannabis Tax, Development Fee Shortfalls
Officials say the city remains financially stable, though cannabis tax revenue and development-related income continue to lag.
Budget
Electric, Water Fees May Rise 5.7% Under Inflation-Based Proposal
The Board of Public Utilities voted unanimously to forward the increase to the City Council, which holds a public hearing June 23.
City Budget Plan Trims Spending, Taps Reserves to Cover $27M Shortfall
The fiscal years 2026-28 biennial budget relies on cost reductions, reserve draws and one-time fixes to address General Fund and Measure Z gaps.
Council Puts Sales Tax Increase on June Ballot to Fund Fire Staffing
Measure would raise Measure Z from 1% to 1.25%; residents raise concerns over spending accountability.
Latest
Council Advances Five Tax Options Despite Voter Fatigue Warnings
Council will make final decisions February 24 with March 6 deadline for June ballot.
State Senator Cervantes Issues Statement on 2025-26 State Budget
Riverside legislator highlights funding for firefighters, immigrant children services and homelessness programs.
Riverside Adopts Cautious $382 Million Budget Amid Economic Uncertainty
City defers spending and cuts revenue projections while preserving reserves to weather inflation and federal policy changes.
City Council Sets Hearing for Budget Amendments Amid Economic Concerns
City faces $2.5 million drop in sales tax revenue, pulls $7.65 million from reserves.
Riverside’s 10 signs of financial health
To plan for future stability and address current responsibility, the Riverside Financial Performance and Budget Committee developed a list of 10 markers that should evaluate the status of the city’s financial health. In their meeting this Friday, the committee will present its multi-measured diagnos
County approves recommended revisions to 2021-2022 draft budget
The Riverside County Board of Supervisors authorized June 15 that recommended revisions to next fiscal year’s draft budget totaling $16.9 million be made before the final vote. Nearly $950 million of the approximately $6.9 billion recommended budget is made up of general fund expenses, which the boa
Getting ready to switch to Priority Based Budgeting
In a presentation to Riverside City Council next Tuesday, the city manager’s office will provide an update on how Priority Based Budgeting (PBB) is working for the city’s line items. The tool was approved earlier in 2020 as the preferred method of organizing the city’s budgeted items each fiscal yea
Residents may decide fate of the city’s General Fund Transfer
Riversiders will soon face the decision to keep the city’s General Fund Transfer (GFT) intact or stop it altogether. The GFT has existed in Riverside for nearly 100 years and was created so taxes from electricity and water bills would be shifted into the city’s general fund. The money called into qu