Budget Engagement Commission – Special Meeting
Item 3: Providing input on the fiscal year 2022-2024 biennial budget
The budget engagement commission will have a special meeting Thursday to receive and provide input on the fiscal year 2022-2024 Biennial Budget. According to the general fund preliminary budget, Riverside expects to have over $310 million in revenues and over $305 million in expenditures for the 2022-2023 fiscal year. The city is expecting to receive over $50 million from the general fund transfer from the electric and water utility for that year.
According to the city’s preliminary Measure Z spending plan, the city is expected to take in over $76 million during the 2022-2023 fiscal year. A few of the expected expenses include $18.2 million for maintaining existing services, $11.3 million for additional sworn police positions, $5.8 million for fire and police vehicle replacement and maintenance, and $2.7 million for the new downtown main library.
Item 5: Site plan review of mixed-use development
On Thursday, the commission will consider a site plan review for a mixed-use development that would have 300 multi-family residential units and 1,386 square feet of commercial retail space. The property is located off Massachusetts and Iowa Avenues and will be on the site of the former K-Mart shopping center.