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Board signs off on County of Riverside successor-agency ROPS and admin budget for FY 2026–27
Summary
The board unanimously approved the County of Riverside successor-agency Recognized Obligation Payment Schedule (ROPS) and administrative budget for July 1, 2026–June 30, 2027, including a new line item to recognize debt service on the 2025 bond series and an admin cost allowance of $1,535,156.
The Countywide Oversight Board on Jan. 15 approved the County of Riverside successor agency's Recognized Obligation Payment Schedule (ROPS) for fiscal year 2026–27 and the associated administrative budget.
Jonathan Gutierrez presented the ROPS and said staff added a new line item (509) to recognize an enforceable obligation for debt service on the Series 2025 public financing authority bonds, which refund prior 2015/2016 bonds. Gutierrez said the refunding produced a net present value savings of $11,600,000 over the life of the bonds and that the correct administrative cost allowance shown on the ROPS is $1,535,156.
Gutierrez said four prior enforceable obligations were retired and that the ROPS and budget conform to the Health and Safety Code and applicable rules. Board members praised the thorough presentation, and a motion to approve the ROPS and administrative budget passed by unanimous roll call.
The board's approval advances the successor agency's administrative budget and recognized obligations to the Department of Finance, consistent with the statutory ROPS process.
