Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the City Finance Policy topic
No spam. Unsubscribe anytime.
Riverbank council approves consent calendar, 2.3% system development fee increase and accepts FY 2023–24 audit
Summary
At its May meeting the City Council unanimously approved the consent calendar, adopted a 2.3% inflationary increase to system development fees (effective May 15, 2025), and accepted the city's audited financial report for FY 2023–24.
The Riverbank City Council voted unanimously on several routine but consequential items during its May meeting.
Consent calendar
The council approved the consent calendar (items 9.1–9.4) by a 5–0 roll call. The consent calendar included waiving readings; approval of city council and local redevelopment authority minutes for April 22, 2025; a resolution waiving community center rental fees for the Riverbank Historical Society and Sully Entertainment; and a resolution declaring certain city property surplus under the Surplus Land Act. The roll call recorded “yes” votes from Council member Luis Uribe, Council member John Pimentel, Council member Stacy Call, Vice Mayor Fosse and Mayor Rachel Hernandez.
System development fee inflationary adjustment (Item 10.1)
By a 5–0 roll call the city adopted a resolution authorizing a 2.3% inflationary adjustment to the city’s system development fees (SDFs), effective May 15, 2025. Assistant City Manager Tammy Alcantor, who presented the staff report, described the adjustment as the resolution’s prescribed annual inflationary update tied to the California construction cost index (CCI). Alcantor summarized the purpose: “system development fees are defined as a charge by a local government agency to help fund and pay for the construction or needed expansion of infrastructure and improvements as related to new development.” The adjustment applies across residential and nonresidential land‑use categories; staff displayed new per‑unit and per‑square‑foot rates in the presentation.
Acceptance of audited financial report for FY 2023–24 (Item 11.1)
The council voted 5–0 to accept the annual financial report for the year ended June 30, 2024. City staff reported that the independent audit (completed by Gallagher Gateway) returned an unqualified opinion. Highlights presented to the council included a combined net position of about $138.1 million across governmental and business‑type activities, roughly $89.6 million invested in capital assets, and a general fund balance of $10.7 million. Staff reported that total revenues exceeded expenditures by about $6.1 million for the fiscal year and that the enterprise (water/sewer and related services) generated a reported net income and revenue growth.
Why it matters
- The SDF adjustment raises the per‑unit and per‑square‑foot fees that developers pay for new development; staff tied the change to the Engineering News‑Record/CCI index as authorized by the city’s SDF resolution. The staff report noted the last comprehensive fee update occurred in May 2024. - Acceptance of the audit closes the city’s fiscal year reporting and confirms the auditors’ unqualified opinion, signaling compliance with generally accepted governmental accounting standards.
Votes at a glance
- Consent calendar (items 9.1–9.4): approved 5–0 (Uribe, Pimentel, Call, Vice Mayor Fosse, Mayor Hernandez). - Item 10.1 (resolution authorizing 2.3% SDF inflationary adjustment effective 05/15/2025): approved 5–0 (Uribe, Pimentel, Call, Vice Mayor Fosse, Mayor Hernandez). - Item 11.1 (resolution accepting annual financial report FY 2023–24): approved 5–0 (Uribe, Pimentel, Call, Vice Mayor Fosse, Mayor Hernandez).
