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Riverside posts stronger year‑end balances; council approves hazard‑plan adoption, Woodman Corridor agreement and America250 membership
Summary
City finance staff presented a year‑end (Q4/2024) financial report showing available cash above earlier projections and identified one‑time receipts; council approved four routine resolutions and a late‑filed America 250 Ohio participation resolution that could make the city eligible for up to $5,000 in America250 grants.
Finance staff provided the City Council with a Q4 (through the end of 2024) report on Jan. 21 showing the city entered 2025 with higher-than-expected available balances and a number of one‑time adjustments.
Kim Baker, a finance staff member, reviewed revenue and expenditure variances for 2024, explaining that some funds originally expected to receive transfers were instead funded from reserves or reclassified (for example, income tax receipts were booked directly to police and fire funds rather than passing through a holding fund). Baker said some one‑time adjustments — including a final-year refund tied to Right Point property taxes — increased available balances at year-end. She noted the city began 2024 with roughly $15.25 million in total fund balance, about $6 million of which was in the general fund; by the start of 2025 available cash had increased compared with some earlier estimates.
Baker also reported that the city collected more income tax than originally budgeted in 2024 and that the 2025 budget assumes $10.1 million in income tax. The Right Point fund’s expected receipts rose during the year from about $5.865 million to $9.861 million after accounting for transfers and reimbursements, Baker said. She reported a $500,000 refund tied to Right Point real‑estate taxes that arrived near year‑end.
Council members asked clarifying questions about reserve levels, transfers and ongoing capital spending plans. City Manager (name not specified) and Baker said the administration intends to remain conservative in 2025 budgeting while using the improved starting position to proceed with planned infrastructure and Right Point improvements.
Votes at a glance
- Resolution 25‑R‑3007: Annual housekeeping resolution to authorize Julian & Grube (accounting firm) to prepare annual financial statements. Motion by Council member Denning; second by Council member Maxfield. Outcome: approved (voice vote: ayes).
- Resolution 25‑R‑3008: Adoption of the county hazard mitigation plan (required for FEMA funding participation; plan updated on a five‑year cycle). Motion by Council member Maxfield; second by Council member Brown. Outcome: approved (voice vote: ayes).
- Resolution 25‑R‑3009: Project management agreement with the Montgomery County Transportation Improvement District to manage design work on the Woodman Corridor using $1,500,000 in congressionally directed funds from Congressman Turner’s office. Motion by Council member Denning; second by Council member Joseph. Outcome: approved (voice vote: ayes).
- Resolution 25‑R‑3010: Authorization related to repair expense for Engine 5 (replacement of a turbocharger). Motion by Council member Joseph; second by Council member Denning. Outcome: approved (voice vote: ayes).
- Resolution 25‑R‑3011 (added to the agenda): A resolution to participate as an America 250 Ohio community, accept the state program’s resources and be eligible for up to $5,000 in grant awards for local events. Motion by Council member Joseph; second by the deputy mayor. Outcome: approved (voice vote: ayes).
All recorded motions carried on voice votes at the Jan. 21 meeting; the meeting roll call showed seven members present.
Why it matters: Adopting the county hazard mitigation plan preserves eligibility for FEMA mitigation funding. The Transportation Improvement District agreement unlocks federally directed design funds to advance Woodman Corridor design work near Wright‑Patterson Air Force Base. The America 250 Ohio resolution makes Riverside eligible to apply for modest state‑coordinated grants and signals an intent to form a local planning committee for 2026 civic events.
Next steps: staff will complete grant/liaison paperwork for America 250 Ohio (the program requires the city to name 1–2 local liaisons and a civic partner within 30 days of the resolution), proceed with the TID project management tasks under the Woodman Corridor agreement, and bring routine budget and project follow-ups to council in upcoming meetings.
