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
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.
Council Advances Five Tax Options Despite Voter Fatigue Warnings
Council will make final decisions February 24 with March 6 deadline for June ballot.
Latest
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
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
A proposed ballot measure reaffirming transfer of millions in funds
In November’s election, Riversiders may be asked to reauthorize a decades-old practice of transferring millions in utility payments to the city’s general fund. The city has been able to transfer money from electric utility to a general fund since Riverside first established a city charter in 1907. V