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City finance update: master plan flags multi‑year general fund shortfall, RightPoint project a major driver
Summary
Shared Resource Center staff presented a master financial plan showing current-year revenues roughly matching expenses but projecting growing general‑fund deficits in the late 2020s; city leaders discussed RightPoint building debt and options to reduce transfers from the general fund.
Larry Hartlop, with the Shared Resource Center, presented Riverside’s July financial update and a 10‑year master financial plan to council on Aug. 4, saying year‑to‑date revenue and spending are near budget but the long‑term projection shows deficits without changes. "As of right now, through July 31 ... we've brought in about $21,000,000 for revenue for the City of Riverside, and of that about $6,800,000 was the income tax," Hartlop said. He reported property‑tax receipts near…
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