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Finance committee recommends city council receive financial health indicators report
Summary
Staff presented 11 financial indicators using audited FY2023–24 data. Committee discussed comparability across peer cities, the role of fee updates and median income benchmarks; a motion was made to forward the report to city council.
City staff presented the Finance Committee with a package of financial health indicators May 14 intended to spot early signs of fiscal stress and inform budget decisions. Ryan Carter, the city controller, framed 11 measures across three questions: can the city pay its bills now, can revenues cover expenses, and can the city pay bills in the future.
Carter said the indicators use audited financial data through June 30, 2024, and compare Riverside with a market basket of full-service cities. “These indicators reflect fiscal year 2024 data and should be viewed as one lens among many for evaluating our financial condition and does not give an…
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